The Co-op has changed its loyalty scheme to offer 5% cashback when you buy any Co-op own-brand item or service (apart from insurance) and a further 1% which goes to a local charity in your area.

Any money you earn will be paid into your membership account and can be spent with Co-op businesses, including its insurance services, whenever you want.

The Co-op says a member that spends £20 a week on own-brand goods can earn £52 in rewards for themselves and £10.40 for charities in a year with the scheme.

However, to become a member you will need to pay a one-off fee of £1.

When you become a member of the Co-op you join a collective and get a say not only in how the company is run but also a claim to its profits. The new reward scheme offers benefits on top of the dividend and does not replace it.

But how does this new Co-op scheme compare to other supermarkets?


Tesco shoppers can use the free Tesco Clubcard scheme to earn loyalty points.

You’ll collect one point per £1 spent in store, online and at Tesco Direct. When purchasing Tesco fuel, you'll get one point for every £2 spent.


Sainsbury’s is part of the massive Nectar card loyalty scheme.

The free to join scheme allows you to pick up one point per £1 spent in store and online at Sainsbury’s stores. You'll also get one point for every bag you reuse and one point per litre of fuel purchased at Sainsbury’s fuel stations.

Sainsbury’s used to offer two points per £1, but has scaled back the scheme to match other supermarkets like Tesco. However, the Nectar card can be used at a wide range of retailers, such as Homebase and British Gas, allowing you to maximise your points on more of your spending.


Morrisons offers the Morrisons More loyalty scheme, which is free to sign up to.

With the card you can earn five points for every £1 spent in store or online and at Morrisons Cafes.

You can also get 10 points for every £1 spent on fuel and 25 points for every £1 spent on gift cards in store. Morrisons also says there will be promotional events for card holders to earn more.

Each point is worth 0.1p so you will need 5,000 points to get a £5 voucher. This means you you will need to spend £1,000 before you can benefit from the scheme, which you could achieve if you spent £200 a month for five months at the store.

Morrisons dropped its popular price match scheme in October last year, which allowed shoppers to earn points if their shop would have been cheaper at another supermarket.

This is a decent reward scheme for Morrisons shoppers. The only downside is that unlike other schemes from Tesco and Nectar you can’t exchange points for days out or leisure activities.

[Related story: Supermarket offers at Aldi, Asda, Iceland, Lidl, Morrisons, Sainsbury's, Tesco and Waitrose]


Iceland offers a scheme called the Bonus Card to loyal shoppers, which acts like a pre-paid card.

You will get a £1 bonus for every £25 you top up on the card and spend in store or online.

Other benefits for members include money off coupons and the chance to win the cost of one of your shops. You also get free home delivery when you spend £20 or more in-store.

Iceland’s loyalty card acts like a pre-paid card and you will need to load money and spend at least £25 to get a £1 reward. This is vastly different to how the other supermarket loyalty schemes work and won’t be suitable if you don’t tend to shop much at the supermarket.


Instead of collecting points Waitrose's MyWaitrose offers freebies and discounts.

One of the major benefits is that it allows card holders to get a free tea or coffee each time they visit a store.

You get a free copy of the monthly Waitrose Food magazine as well as the Waitrose Garden magazine and access to in-store deals like 15% off red wine and 20% off all fish from the fish counter.

The scheme also allows members to ‘pick their own offers’, where you can choose up to ten products that you buy regularly to save 20% on.

The Waitrose card is worth having if you have a Waitrose near you and you shop there regularly as the rewards start instantly with things hot drinks and magazines.

But with no points system you’ll have to keep a close eye on the discounts and make sure to use them to get the most out of the scheme.

Shop regularly at one supermarket? A rewards credit card could make you richer