Credit Cards - Credit card holders could see benefits slashed - 03/08/2009

It has been revealed that some credit card customers will see their perks cut if they decline to sign up to a new fee-charging offer.

A small group of consumers who have been selected for a trial will have to accumulate 2,500 points, which means spending £2,500 before they qualify for a £10 voucher from High Street shops.

In the past, they have only had to reach 1,750 points.

With £1 of spending earning one point, each cardholder must spend an extra £750 before they qualify for the benefit.

The lender who is running the scheme has given its customers two options. First, they can keep their current deal and see the amount they need to earn rise.

Secondly, the can opt to pay £2 per month and earn double points. Those choosing the new package will see their existing card balance double.

Barclaycard stated that it wrote to its customers taking part in the scheme, giving them four weeks to redeem their points at the old rate.

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