Reward cards boom: what are the risks?

Updated
credit card machine
credit card machine

ChinaFotoPress/Photocome/Press Association Images

New research has revealed that the number of reward cards in use in the UK has shot up almost a third in the last year. Now an incredible 48% of all Brits are using reward cards to generate cashback, shopping vouchers and free travel. That's almost £3 billion in free money.

On the one hand it's a brilliant demonstration of how we have educated ourselves to take advantage of the best deals. However, on the other hand, it raises a number of risks.

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