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24 October 2011
Rewards Plus credit card now available for all
The AA’s new Reward Plus credit card, previously exclusive to AA members, is now available for anyone.
Responding to AA customer research, the card is designed to help drivers manage their petrol and diesel buying as well as earn cash back on everything else they buy. At a time when petrol and diesel prices have risen by around 20p per litre over a year* sales have slumped because of high prices.
The AA Reward Plus Visa card enables drivers to stretch their fuel budget a little further. It offers generous rewards with 3% cash back on fuel purchases and 0.5% on everything else and – unlike other cash back cards, no annual fee.**
Mark Huggins, director of AA Financial Services, says that rising fuel prices are hitting ordinary people hard. "Government figures*** show that 1.7 billion fewer litres of fuel were sold at UK pumps during the first half of this year than during the same period in 2008, depriving the Treasury of about £985 million in fuel duty," he says.
The plain fact is that high fuel prices are having an impact on family life
Mark Huggins, director of AA Financial Services
"Drivers are clearly economising: an AA/Populus study of AA members on the impact of fuel prices shows that they are not only shopping around for cheaper fuel, which is benefiting the supermarkets,*** but also cutting back on fuel spending, non-fuel spending or both." With fuel prices high on everyone’s agenda, AA Financial Services decided to broaden the previous member exclusive card to all customers.
Mr Huggins says, "Finding ways to get more out of every fill-up – earning cash back rewards, driving in a more fuel-efficient manner and avoiding making short trips to the shops by car – can all help to make an impact on family budgets."
Every time the card is used, points are awarded that can be redeemed for cash back or for a wide range of other goods and services, high street shopping vouchers, or AA products such as insurance and membership.
The card offers 19.9% (variable) representative APR on card purchases.
Mr Huggins adds: "The AA card isn't complicated by confusing spending rules or limited periods. It delivers 3% back on fuel up to £2,000 spending per year – that's the equivalent of an average £60 fill-up. It's more than the national average annual spending on petrol of about £1,700*. But once that ceiling is reached, the card continues to earn points at the standard 0.5% rate that applies to all purchases.
"As soon as the first anniversary of taking out the card is reached, the fuel earning rate returns to 3%."
The AA Reward Plus Credit Card can only be applied for online at www.theAA.com.
* According to the October AA Fuel Price Index, October 2011. The average cost of a litre of unleaded petrol is currently 134.51p per litre and diesel 139.65p per litre
** Reward credit cards compared
Reward credit cards compared
*** Statistics from the Department for Energy and Climate Change, Energy Trends, June 2011
The AA Reward Plus Visa Card
The AA Rewards Plus Visa Card earns three points for each £1 spent on fuel and one point for every £2 on all other purchases.
After £2,000 has been spent on fuel before the first anniversary of the card being taken out, one point is earned for every £2 spent.
Points can be redeemed for cash back or items chosen from an online retail catalogue, including AA products and services and high street shopping vouchers.
Fuel spending reward points are earned at any fuel station including supermarkets and most fuel stations in continental Europe.
The card is currently being trialled and anyone may apply, not just AA members.
Representative example 19.9% pa variable on card purchases. This is equivalent to 19.9% APR representative variable based on a credit limit of £1,200.
MBNA Europe Bank Ltd, a wholly owned subsidiary of Bank of America Corporation (NYSE: BAC), provides the AA Reward Plus Credit Card.
Credit is only available to over 18s and is subject to status.
(9 November 2011)