Have you claimed your loyalty points?

28 May 2014

Brits are collectively missing out on around £1.3 billion in unclaimed loyalty points, according to a recent survey.

While almost 95% of UK adults are members of at least one loyalty scheme and the current value of their rewards estimated to be £28.60 on average, some 14% of us haven't redeemed any points in the past year.

Gocompare.com's research found that more women (98%) than men (91%) belong to loyalty card schemes but men have more points stored up. They racked up £35.90 worth of points on average, compared with just £22.60 for women.

Last year, Brits redeemed 2.1 billion worth of loyalty card points and those who cashed in their savings enjoyed an average saving of £46.90.

Claire Peate, customer insight manager at Gocompare.com, said: "Loyalty cards allow you to earn points and rewards on a wide range of goods and services but unless you remember to redeem them, they are pointless.

"To avoid losing the benefits accrued through these schemes, make sure that you read the terms and conditions carefully and in particular look for exclusions, expiry dates and ways in which you can get the maximum value from your points."

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