Credit card points a source of divorce dispute
26 August 2011 15:31:13
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| Warring couples have started fighting over credit card loyalty points. |
Ed Kitchen, a partner at family law firm Pannone, said that divorces are increasingly being delayed by arguments about how to allocate loyalty card points.
Even couples who have been relatively amicable throughout the rest of their divorce proceedings can sometimes argue when the subject of credit card rewards is raised, he revealed.
"Establishing a fair divorce settlement involves calculating what someone will lose out on as a result of not being married," Mr Kitchen explained.
"Traditionally that has meant considering things like pensions or health insurance. Now, though, people realise the value of points accrued through loyalty schemes."
Credit card reward schemes have become increasingly common in recent years, meeting Britons' desire to save money in difficult economic times.
For instance, the Tesco Clubcard credit card (16.9% representative APR, variable) provides Clubcard points when users spend on their credit card, while the Virgin Money Credit Card (16.8% representative APR, variable) offers discounts on Virgin holidays, Virgin Media and other products.
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