American Express hooks up with Nectar
Thursday, 31 Jan 2008 14:32
American Express has launched a new Nectar Credit Card.
The card allows users to collect four Nectar points for every £1 spent when using both the card itself and the Nectar loyalty card in participating stores – such as BP, Debenhams, Sainsbury's and Thompson, among others.
For general use of the card one point is earned for every £1 spent.
Over first three months, double points are earned, along with 5,000 bonus points when £200 is spent.
The card comes with no annual fees and a typical APR of 15.9 per cent variable.
Cash withdrawals come with a three per cent fee or £3 (whichever is greater), and the foreign exchange fee is 2.73 per cent.
Default charges are £10 for late payments, or going over the credit limit.
Benefits include annual purchase protection up to £20,000 for products stolen or damaged in the first 90 days , refund protection of up to £200, and online fraud guarantees.
Nectar points can be used for a variety of treats from Eurostar trips – with a return journey to Paris costing 14,000 points – to spa treatments or cinema tickets.