Barclaycard and TSB Trustcard offer the worst redemption offers in the loyalty scheme market, according to new research from Staffordshire University.
The Loyalty Report, commissioned by GM Card and conducted by Professor Steve Worthington, claims that the two schemes come last in terms of rewards in a field of 15 loyalty redemption schemes.
If a consumer spent 10,000 on the cards, the redemption on Barclaycard would be a holdall and a Philips steam iron worth 28.89, while TSB Trustcard offers only 25 of Argos vouchers, the report says.
A Barclaycard spokeswoman says that the findings are misleading: “They do not compare like with like,” she says. “If Barclaycard customers spend 3,000 with us, they can get 150 off a Ford, compared with just 90 on the GM Card.”
She adds that Barclaycard believes the GM Card-commissioned report is a diversion aimed at disguising the recent change in rates.
A GM Card spokeswoman says that only Barclaycard’s mainstream loyalty programme had been considered. Among the schemes that the study claims offer the highest redemption are NatWest, American Express, Bradford & Bingley and GM Card.