Your wallet or purse is bulging – but the chances are it is not the amount of cash in there that makes it hard to fit them in to your pocket or handbag.
Instead, they are probably packed with loyalty cards for everything from shopping and eating out to travel.
But have you ever considered what happens to the loyalty points you collect when you die?
Recent research by TopCashback.co.uk suggests people in the UK earn a staggering £5.7 billion through loyalty scheme rewards each year – although many people underestimate their value.
And many do not realise that they can pass on their loyalty rewards to their loved ones if they die – meaning hundreds of pounds may be lost when they pass away.
The research also reveals that the vast majority fail to include a list of their loyalty programmes in their Wills or leave a record of their passwords for their loved ones.
Each loyalty card has its own terms and conditions which dictate whether any points or benefits can be bequeathed, so here’s a summary of some of the most popular brands.
The Nectar Card allows you to claim points at more than 450 different retailers – with Sainsbury’s being one of the most prominent. The Sainsbury’s rules make it clear that points can be passed on in the event of someone’s death, although you may need to produce evidence and a copy of the death certificate.
Customers can earn points on their shopping and on buying fuel at Tesco petrol stations with the Clubcard scheme, with the points turned into vouchers which can be used for a whole range of things from groceries to travel. The rules say that to transfer any points, relatives need to contact Tesco’s Customer Service Centre to make the request and have the relevant details to hand.
One of the longest-running schemes on the High Street, it gives shoppers four points for every £1 spent. Again, members can pass on their points to a nominated beneficiary if they are mentioned in a Will by getting in touch with the Customer Care team.
The Avios card allows members to collect points on flights, online shopping and hotels to be spent on future travel. But the terms and conditions do suggest that the points will be cancelled upon the death of a customer. However, relatives have found that when they contacted British Airways, the points were transferred, to is may be worth checking.
But other reward schemes, such as IKEA and Costa, do not allow for the transfer of points or benefits.
Writing a Will ensures your estate is passed on to your loved ones in accordance to your wishes when you die, and this can include loyalty points.