Airmiles hit the rewards runway and jet off for Lloyds TSB
NatWest credit card customers participating in the Airmiles reward scheme will now have to switch to Lloyds TSB to continue earning points.
Lloyds TSB won the contract to run the scheme this week and from 1st June it will be customers of Lloyds TSB’s new Duo card who will earn the points. However, they will see a doubling of the reward rate as the new operators will offer one point for every £10 spent, whereas it used to be one point for every £20.
NatWest customers who have accumulated points so far will keep their entitlement if they do not switch providers. The bank is also replacing the Airmiles scheme in June with a rewards programme where customers earn one point for every pound spent on Easyjet flights or to book a holiday with ebookers.
But this incentive is only available free to customers who spend at least £1,000 a month and who were part of the previous Airmiles schemes. Everyone else will have to pay £3 a month to be a member of the scheme.
To qualify for a return flight to Paris you would have to spend £4,000 with Lloyds TSB Airmiles or £4,300 on the new NatWest scheme.
Frequent flier and Lloyds TSB customer Steve Bright said: “Quite honestly, I don’t factor these things into my planning when spending money. I’ll take advantage of the scheme, of course, but I won’t be worrying too much about it.”