A new
Amex credit card has been launched, which offers 5,000 free
Nectar points worth up to GBP50 for new customers who take out
its
Nectar
credit card and who spend GBP500 in the first three months. The
reward credit card also gives Nectar points for purchases made
on the card, equivalent to 1 per cent
cashback on spending at Nectar retailers, and 0.5 per cent
elsewhere.
The Amex card allows customers to collect Nectar points for every
GBP1 spent on it, with the
credit card company saying that 5,000 points are worth between
GBP25 and GBP50, depending on which retailers they spend the money
with. When they are cashed in, the Nectar points are normally have
the value of GBP1 for every 200 points collected.
The bonus points on the Amex card can be spent with companies such
as
Argos,
Homebase,
Sainsburys and
Amazon, with double value redemptions on promotional offers
available from
Alton Towers,
Legoland,
Chessington World of Adventures,
Thorpe Park,
Ask,
Madame Tussauds and Warwick Castle.
The card provides a good deal if you shop regularly at
participating Nectar retailers; however, the card has a typical
variable interest rate (APR) of 19.9 per cent on purchases,
which makes it expensive for those who don’t pay their card off
every month.