Originally Posted by Garage Joe:
But surely if you put the cash in a bank ISA you also put the money up front. )
Yes: I meant compared with shop loyalty cards.
Take a Sainburys Nectar card: you buy ÂĢ250 worth of shopping (less if you buy something with bonus points), and they give you 500 points. That's worth ÂĢ2.50 off your next shop, or 1% back. That's less than with Morrisons, but you've already got (and probably eaten!) your ÂĢ250-worth of shopping.
With the Morrison's stamps, you buy ÂĢ97-worth of stamps, and they give you another ÂĢ3 credit. However you haven't got your shopping yet, and until you do, Morrisons is making interest on your ÂĢ97.
I'm not knocking it - it's like an old-style Christmas Club, and great if you're a regular shopper anyway. (I don't have a local Morrisons, so it's meaningless to me) - just illustrating the differences. I think it's safe to say that Morrisons wouldn't run the scheme if they weren't benefiting from it...