Brits losing thousands in unused credit and debit card rewards
League table reveals that Sunderland is the city losing the most Swansea’s shoppers amongst the savviest in the country OnBuy offers money hack that will save shoppers over £400 a year as business pledges to give away £15m in rewards.
With sweeping US tariffs threatening to worsen the cost-of-living crisis across the country, new research has shown Brits throw away thousands of pounds a year in unused debit and credit card rewards.
According to the study of 2,000 consumers, 55% of Brits miss out on rewards, with 5% estimating that’ve not used benefits worth more than £7,500.
Those in Sunderland underutilising their credit and debit card benefits estimate they’re losing an average of £2,728 a year. At the other end of the spectrum, Swansea’s savvy shoppers throw away just £193.
There is also a sharp discrepancy across different age groups – with 18-29 year olds losing an average of £2,508 and the over 60s losing £764.
These losses come at a time when one in two (47%) are constantly seeking a bargain due to the current economic climate and a third (36%) are avoiding last minute purchases. A fifth are only buying what they need (21%) or from retailers that offer regular deals (19%).
With just 7% of Brits’ claiming their buying habits haven’t been impacted by the cost-of-living crisis, the largest UK marketplace, OnBuy, has pledged to give away £15m every year, with smart shoppers able to earn over £400 per year.
The disruptive retail business has announced that it’s doubling down on its pioneering cashback offer to give all customers a minimum of 5% back on all purchases through the platform - up from the 1% previously offered.
Cas Paton, CEO and Founder at OnBuy, said: “Whether it’s Council tax, food, transport, or utility bills, the cost pressures on British people are mounting. It’s more important than ever for shoppers to reevaluate their shopping habits to ensure they’re extracting value from every transaction they make. The numbers speak for themselves – as a nation we are throwing away money when we need it most, but often this is because the mechanisms for claiming rewards and cashback are simply too complex. If customers have earned rewards then receiving them should be instant, as it is on our platform.”
Value of unused credit and debit card benefits in the last year:
- Sunderland £2,728
- Cardiff £2,649
- London £2,418
- Newcastle upon Tyne £2,385
- Leicester £2,373
- Glasgow £2,308
- Norwich £2,257
- Leeds £2,222
- Aberdeen £2,103
- Liverpool £2,062
- Plymouth £2,059
- Sheffield £1,975
- Oxford £1,795
- Manchester £1,773
- Southampton £1,715
- Coventry £1,672
- Birmingham £1,591
- Edinburgh £1,513
- Bristol £1,434
- Cambridge £1,331
- York £1,231
- Nottingham £1,148
- Swansea £193
OnBuy’s baseline 5% cashback reward will be complemented by higher rates of up to 20%, offering smart shoppers the opportunity to quickly accumulate meaningful cashback through everyday purchases.
Every OnBuy customers will receive the new base rate, with cashback available to be spent onsite immediately, saved, or withdrawn into a bank account after 30 days on balances of £5 or more, with no waiting period or complex clauses – unlike third-party cashback sites.
“We’re now offering one of the highest base cashback rates on the market – we’re not just challenging retail, but credit cards and other cashback sites as well. We want to thank our customers and show that we’re the world’s most rewarding marketplace,” Cas concluded.