Finance Choices
American Express Nectar Card
Credit card provider American Express has announced the launch of a new product from the 16 September, the Nectar Credit Card. Customers using the Nectar Credit Card from American Express will benefit from double the points, totalling four points for every £1 spent.
In addition to this, holders of the credit card will earn an extra one point when they use it in other retailers.
Vice president and head of UK product management at American Express, Katherine Whitton, said: "Nectar collectors will soon notice the difference as they begin to rack up points at double the speed, if not faster, than they have been able to do in the past.
"This means they will be able to redeem more quickly for everything from digital cameras to family holidays. Using this credit card will ensure collectors are getting the most out of the programme and really reaping the rewards for their spending."
About the Nectar Card
With the Amex Nectar Card you can earn Nectar points at the rate of 1 point for nearly every pound you spend using the card (excludes balance transfers, cash advances etc).
If you're using the card at a Nectar retailer such as Sainsbury's or Debenhams, that'll double up to 2 points per pound. And, show your Nectar Card at the same time to get your usual 2 points per pound - which adds up to a total of 4 points per pound!
If you're already a member of the Nectar program, this new American Express card could help you build up your points balance even quicker, and with other features such as a standard rate of 12.9% typical APR (variable), and 5.9% on balance transfers for the life of the balance, it's competitive in other areas too.
Summary
American Express Nectar Card
In addition to this, holders of the credit card will earn an extra one point when they use it in other retailers.
Vice president and head of UK product management at American Express, Katherine Whitton, said: "Nectar collectors will soon notice the difference as they begin to rack up points at double the speed, if not faster, than they have been able to do in the past.
"This means they will be able to redeem more quickly for everything from digital cameras to family holidays. Using this credit card will ensure collectors are getting the most out of the programme and really reaping the rewards for their spending."
About the Nectar Card
With the Amex Nectar Card you can earn Nectar points at the rate of 1 point for nearly every pound you spend using the card (excludes balance transfers, cash advances etc).
If you're using the card at a Nectar retailer such as Sainsbury's or Debenhams, that'll double up to 2 points per pound. And, show your Nectar Card at the same time to get your usual 2 points per pound - which adds up to a total of 4 points per pound!
If you're already a member of the Nectar program, this new American Express card could help you build up your points balance even quicker, and with other features such as a standard rate of 12.9% typical APR (variable), and 5.9% on balance transfers for the life of the balance, it's competitive in other areas too.
Summary
- Earn 1 Nectar point for almost every pound you spend using the card
- Earn 2 points per pound at Nectar retailers
- 1,000 bonus Nectar points when you first use the card
- 12.9% typical APR (variable)
- Low balance transfer rate of 5.9% for the life of the balance, for balances transferred within the first 6 months
- No annual fee
American Express Nectar Card
posted by Barbara Gordon at 8:50 AM
American Express Nectar Card
7 Comments:
Nectar Card- People tend to fall into two categories: They either like loyalty cards or they hate them. I'm someone who likes getting things for free, and so far as I'm concerned, getting a reward for shopping somewhere I'd do my shopping anyway can't be bad.
The Nectar card is a good way of saving up your points so that you get vouchers, each one is £2.50, off your shopping. As the nectar card is accepted in Sainsbury's petrol stations and others it is quite easy to build up your balance. It can be used to build up the balance of points in participating stores as well.
It is no better or worse than any other loyalty card except that you can save your vouchers until you have enough to pay for a complete week's shopping if you wish, very handy at Christmas.
I find the Nectar card beneficial as I earn points in Sainsburys when I buy my food and I then spend the vouchers I earn in Adams on clothes for my baby as they are worth more in there than anywhere else. The points do mount up very quickly and you can collect your vouchers at your registered store. On the downside it's quite difficult to make any changes to your card as the website isn't always working as it should and some staff don't seem familiar with the practicalities of the Nectar card. It's worth getting one though.
I have applied for the Amex nectar card about a week ago. This morning I received my PIN - presumably the card will follow. But my question is this:
if I receive 4 points for every £1.00 of spending ( admittedly from Nectar sponsers), this would mean that I need only spend £125.00 to gain 500 points for which I'll receive £2.50. Can someone please tell me if thiis nectar scheme gives a better return than any cash back card currently on the market. I think it beats the 0.5% on say Morgan Stanley (after the 2000.00 double limit)
Can anyone please confirm which would be a better way - cashback or nectar.
The equivalent cashback at Nectar sponsors is 1% (not including Nectar points you already get) and 0.5% elsewhere.
The other advantage over other cashback cards is that you get points every month rather than having to wait a year for your cashback.
Sorry King - I don't quite understand your reply. Would I get a better return from the Amex Nectar than any other cash back card. Even at 1% cash back, this would only be £1.25 compared to £2.50 on 500 points. Is my logic right? I think I'm on the right logic, but I'm beginning to doubt it that it's double the cashback equivalent.
You have to separate the Nectar points you would get with or without the card.
If you shop at a Nectar store (e.g. Sainsbury's) you get 1% in Nectar points however you pay. If you use the Amex card you get an extra 1%. You have to compare this with other cashback cards.
If you shop at a non-Nectar store you get 0.5% if you use the Amex card.
So therefore, the Amex card is as good as a 1% cashback card at a Nectar store but only a 0.5% cashback card elsewhere.
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