There has been much mention of supermarket loyalty points on the TV and in the press but do you actually know what it’s all about? Do you know the possible savings?

While the normal store credit cards will charge you very high rates of interest, many people are now looking at loyalty schemes administered by the major supermarket and retail outlets of the UK. The likes of Tesco, Boots and ASDA to name but a few. So what have they got to offer and what can you actually save from them?

If we look at possibly the most lucrative of the schemes out there, Tesco, you will find that traditionally you will receive 4 loyalty points for every pound which you spend. While this may not sound like an awful lot, there are ways to boost this even further. Some interesting facts to consider :-

• If you spend your loyalty points on a loyalty scheme offer, you will normally be able to double your money – ie. Each loyalty card point will suddenly turn into 2 points.
• If you actually join the Tesco regular loyalty scheme account, whereby you need to deposit a certain amount of money each month to spend, you will receive yet more bonus loyalty points.

Every few months Tesco have a habit of putting on some great points offers for their loyalty card members, allowing them to gain extra points for buying a certain product (which will change on a regular basis). Sometimes when you consider the advantage of using your “bonus” loyalty card points for exclusive loyalty card offers you can actually receive a massive up lift on your spending power.

When you consider that you probably spend a few hundred pounds a month on normal food shopping alone, the added bonus of loyalty card points can really add up if you spend wisely and pick up some of the offers where applicable. It is not rocket science, it is not hard, but it can be a lot more lucrative than you might think!