Morrisons Saving Stamps

[malagabob]

Picked up a saving stamp book at Morrisons yesterday. It gives you 1 free stamp half way and another 2 on completion. If I was to by 97 in one hit and claim my £100 would that be a good interest investment.Weird question know but, maths was not my best subject.
Obviously, they are earning interest on people buying one or two every shop.

[factor-fiction]

How much would you have to spend before you get your £100?

[Baldric]

Morrisons is launching its 2012 Saver Stamps scheme. From January, customers can buy their saver stamps at the checkout and start collecting in the Saver Stamps booklet. Morrisons is giving the customer a free £1 stamp when they reach £49 and a further 2 free £1 stamps when they reach £98.
The Saver Stamps can then be redeemed against purchases. **

[humbersloop]

2012??

[factor-fiction]

Oh I see- it's not vouchers you get base don what you spend- they are just vouchers you can buy. So if you buy £98 of vouchers and receive £100 back the next day that's a huge rate of interest.

[mickrog]

Tesco Christmas savers offer £3 for first £50 saved then £6 when you have saved £100....issued as vouchers in November each year.

[Baldric]

Latest link I could see

[THECORBYLOON]

Seen some details about the 2012 scheme and the free stamps could be used only in certain months.

[EDDIE51]

You can buy £97 worth and then immediately use them for £100 worth of shopping there is no minimum time to hold them before you can use them.
You can't but £97 worth and then get £100 cash back though it has to be shopping.

[malagabob]

If thats one of the conditions Corbyloon, they have thought of all angles.

[factor-fiction]

And given that you have to spend the vouchers at Morrisons it doesn't seem that great a deal- effectively spend £100 and get £2 off. There are much better shopping deals around-e.g. spend £40 and get £5 off . or just shop at Aldi/Lidl- it can be much cheaper

[EDDIE51]

factor fiction, they are not vouchers they are saving stamps, if you don't use them you can cash them in and get the cash back. That does not happen with Tesco they give you vouchers that you can't spend.