Sainsbury’s cuts Nectar rewards to just one point for every £2 spent

Sainsbury’s is slashing its Nectar points reward scheme in a major blow to 1.8 million credit card holders.

Shoppers with Sainsbury’s credit cards currently receive two points for every £1 they spend. But from November 1 they will earn just one point for every £2 instead.

Each point is worth 0.5p on purchases at Sainsbury’s. So shoppers currently need to spend £100 to earn £1 worth of points. 

But under the new rules, cardholders will have to spend £400 to earn the same sum.

Those who switch to the Amex Nectar card can earn two points for every £1 spent. 

However, the Amex card charges a £25 annual fee after the first year.

A Sainsbury’s spokesman says it regularly reviews offers to make the biggest difference to customers: ‘With costs going up, we are working hard to keep prices low.’

With the cost of living crisis raging on, one way for shoppers to fight back against rising food prices is to take advantage of the various supermarket loyalty schemes on offer.   

Some of these reward schemes let shoppers earn and spend points, while others give out vouchers to redeem against their weekly shop.

While almost all of the major supermarkets have a loyalty card, some of the perks offered are better than others.  

This is Money recently ran the rule over the reward schemes offered by Tesco, Sainsbury’s, M&S, Co-op, Morrisons, Lidl and Waitrose.