Shoppers miss out on £400m loyalty benefits

The effectiveness of loyalty cards is under question again, following the revelation that as much as£413 million in benefits from such schemes remains unclaimed in the UK.

According to work carried out for Argos Business Solutions by ICM Research, as many as 25 per cent of the 27 million cardholders do not claim the benefits they earn.

Argos Business Solutions managing director John Davis said: 'It is crazy to think that consumers make the effort to carry loyalty cards and collect points on them, but not everyone is claiming the rewards before they expire.'

Argos's Premier Points reward scheme has issued points worth£389 million, of which 85 per cent have been redeemed. The remaining£50 million is unclaimed.