Barclaycard has released its Cashback and Freedom Reward Card schemes, partnering with brands such as Legoland, PC World, Amazon, Marks & Spencer and Starbucks for reward points.
The Cashback card scheme aims to offer customers two per cent cashback on their five biggest monthly purchases, without any tiers or thresholds, and six per cent cash back on their five biggest purchases for the first three months.
Another aspect of the card will be the offer of an enhanced four per cent rate on a members top five spend each year, in the month after the anniversary of taking out the card.
Another scheme beginning at the same time is the Barclaycard Freedom Rewards card which allows customers to collect points on everything they buy through the card, with 70 reward partners including Marks and Spencer, Topshop, Currys PC World, iTunes, Amazon, Starbucks, Strada and Leisure Voucher partners Legoland to LA Fitness.
Nick Clements, managing director for UK Consumer Cards, Barclaycard, explained: “We took time to speak to our customers to understand how they want to be rewarded when they spend. Choice and value came out as the key to meet people’s needs.
“For the average UK family budget, one in three pounds is spent on the weekly shop and filling the car up. As a result, the Freedom Rewards card offers double points on any supermarket or petrol spend. Our customers want the flexibility to look for the best value without being tied to shopping at just one brand, and the Freedom Rewards card offers that flexibility.
“On our Cashback card, we designed it to boost the earning rate of cashback on the top five monthly purchases, because our customers’ top five purchases accounted for around 50% of their overall monthly spend. We want to give customers the flexibility to be rewarded at the higher rate, regardless of what they’d bought,” concluded Clements.