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Credit card rewards schemes award points or cashback when you spend on the card. The points schemes are set up to mystify their actual worth. The aim of this checker is to cut through that. Simply enter the credit card you're looking for and how much you're likely to spend in a year, and you'll be told the average value of rewards you'll receive.
For full details please read the Credit Card Rewards Article.
To evaluate rewards schemes, seven rewards were picked at random and then realistically costed (from an independent assessment rather than the reward schemes' own valuation). This was then used to calculate the average value of a point, which is then used to value the reward scheme.
It's important to note rewards were only assessed for general spending, if more rewards are given for spending in specific shops, these are discounted (e.g. Amex Nectar pays more for spending in Sainsbury's) as they're effectively shopping loyalty not credit card reward schemes.
For full details please read 'How The Valuation Process Works'.
The current assessment was conducted in May 2006. Rewards schemes change very rarely, so this data is usually accurate for at least a year or so. However, it is always possible schemes will change (if you spot something that seems to have substantially changed please email RewardsChecker).
The process of assessing the schemes is enormously time consuming. However, if there are major changes to rewards schemes they will be re-evaluated. The schemes' next full study is planned for May 2007.
One further note, do remember the valuations are based on average value. By carefully picking what you use your points for, you should be able to up that.
