LONDON - American Express is launching the new Nectar Credit Card, which allows users to earn Nectar points at a faster rate and thus be eligible to reap the consequent rewards.
Users of the new Amex Nectar card will be eligible to pick up four Nectar points against every £1 spent in Nectar retailers. For an equivalent amount spent at non-Nectar retailers the Amex Nectar cards is offering one point. "Using this Credit Card will ensure collectors are getting the most out of the programme and really reaping the rewards for their spending," said Katherine Whitton, vice president and head of UK product management at American Express. "If you are collecting Nectar points, this credit card is the smart way to pay for all your purchases whether at home or abroad."
Some of the new features in this nectar card are 12.9 percent APR and 5.9 per cent balance transfer rate. Users can also avail 56 days interest-free period in addition to protection against online fraud and purchase protection. "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," Whitton elaborated. The Amex Nectar card is available from September 16 onwards.
Barclaycard holders were entitled to earn 2.5 nectar points for every pound that they spent. With Amex announcing four nectar points for the same amount, Barclaycard users could get hooked onto it, said Richard Mason, director of moneysupermarket.com, "For these people, their main concern should be to find a card that allows them to pay as little interest as possible, such as a card with a zero per cent introductory offer for balance transfer with no transfer fee," he said.
Samantha Owens, head of research at moneyfacts.co.uk, said that the move to offer an incentive was welcome, "With this card, the points available are higher with retailers in the Nectar scheme but the benefits are more limited than with a cashback scheme," she said.
Posted
on : Sat, 17 Sep 2005 10:05 GMT | Credit Cards News
By : Paula Jenkins
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