Lloyds Trustcard customers only have weeks to spend their points ahead of reward shake-up
How is the Trustcard reward system changing?
At the moment, Trustcard customers earn one point for every £10 spent. Each point then gets you a 10p discount on each £1 you spend on vouchers for one of 11 retailers, including Argos, Currys and WHSmith.
So for example, if you spent £1,000 on the card, you’d build up 100 points. You could then use these points to get a £10 discount on a £100 gift card, though you’d have to pay the remaining £90 yourself.
But from Monday 2 December, customers will instead earn 0.5% cashback on all purchases, which will be calculated on their monthly statement (rounded down to the nearest penny).
It’s a lower return on your spending, as the current reward system equates to 1% back, but the new scheme has the big advantage of being paid as cashback rather than as points for vouchers – which can only be spent at certain retailers and aren’t protected if a retailer goes bust.
But some customers have expressed frustration at having just a few weeks to spend all their existing Trustcard points.