18 June 2007
NatWest's YourPoints scheme, which sees customers earn points which can then be transferred into cash for travel with easyJet, will receive some competition from Lloyds TSB's AIRMILES scheme from this week.
Increasingly, consumers are looking for added extras like travel points when they take out a credit card, with a recent customer satisfaction survey from price comparison and switching website uSwitch.com showing that 16% chose their credit card because of a points or travel reward scheme.
AIRMILES, where points earned on a credit card can be used to pay for flights, were once the chosen reward scheme of NatWest, but after 19 years the lender chose to give up its rights to the brand and instead pursue a new deal with ebookers and easyJet.
Now Lloyds TSB is the proud owner of the established travel reward option and it has chosen to showcase it through its new Duo card.
Under the new rules with Lloyds TSB, card holders can earn one point for every 10 spent, which can then be used to travel by air, on Eurostar, on the Orient Express, or on cruises and ferries. The points can even be used to rent out UK country cottages and pay for British days out.
Lloyds TSB and NatWest will also be joined by Morgan Stanley's 'buy and fly' card this month, which offers customers one point for every 10 spent, which can be redeemed at a number of the UK's leading airlines.
Consumers should be aware however, that flight availability can be limited and that taxes and other charges normally have to be paid on top. A cashback card that gives a percentage of spending back as cash could be an easier option.