It appears that consumers in the United Kingdom seem to prefer one credit card over another not because of the low interest rates offered, but because of the rewards programme associated with the use of that credit card. It is said that half of the consumers in the United Kingdom prefer to use a credit card because of the rewards they receive with the use of it as opposed to the 13% that use the card because of the low interest rate they are receiving.

It seems that UK consumers find credit card reward programmes that offer high earning rates through promotions more attractive. It is said they perceive these cards to have more value than those credit card reward programmes that offer the consumer a steady but slow earning capability.

Other Findings Regarding UK Consumers and Their Preferences for Reward Programmes

Most UK citizens prefer a card that gives them cash back than any other reward programme. Brits feel that the Barclaycard Platinum card that offers cash back is one of the most valuable credit cards. They offer their clients 2% cash back when they make purchases at supermarkets and petrol stations for life. They offer a smaller cash back reward of 0.5% on any other purchase they make.

Those credit cards that offer rewards related to petrol purchases are thought to have huge potential among UK consumers. Only 5% of cardholders with a rewards programme have benefits related to petrol purchases, but more than 55% of people polled said that the benefits of a rewards programme related to purchasing petrol is quite an attractive feature. The card that is perceived to be the most valuable to UK residents is the Citi Shell MasterCard. Those that are enrolled in their rewards programme can earn as much as 6% back when they purchase fuel.

Why is One Credit Card Offering Rewards More Successful than Another?

It seems that in order for a credit card reward programme to be a success, they need to offer the consumer a variety of choices as to how they will redeem their rewards. The majority of those that have a credit card that offers a reward programme said that the reason they choose said credit card over another is because of their ability to choose which of the rewards they deem most valuable to them.

It is important to note that just because a card offers a reward program, the consumer needs to find the one that suits their habits of spending so that they can reap the most rewards from the programme. Those that issue credit cards with a rewards programme need to understand the consumer wants to have more control in the process of redemption.