Rewards are on the cards with the Nectar credit card

This month sees the fifth anniversary of Nectar, the UK’s leading loyalty card and the second anniversary of the partnership between Nectar and American Express.

New Nectar Credit Cardmembers are being offered 5,000 bonus points when they spend over £200 at participating Nectar sponsors in the first 90 days of Cardmembership. In addition, they will earn extra Nectar points on spend everywhere for the first three months. Up to 6 points can now be earned for every £1 spent at participating sponsors (when used with the Nectar loyalty card) and up to 2 points for every £1 spent elsewhere.

Since its launch in 2002, Nectar has given back over £850 million in rewards and this is expected to reach £1 billion by end of 2007. However, an American Express survey has found that 43% of credit card holders are armed with plastic that offers no rewards at all. That’s nearly 20 million UK consumers still using unrewarding credit cards, according to the American Express research.

After the initial three months, the standard earn rate will apply. By using the Nectar Credit card and presenting the Nectar loyalty Card up to 4 points are accrued for every £1 spent at participating Nectar partners (2 points for every £1 spent on the Credit Card plus 2 points for every £1 spent on their Nectar loyalty Card at participating partners). Nectar Credit Cardmembers can also earn 1 point for almost every £1 spent whenever they use the Nectar Credit Card at all other establishments worldwide.

Cardmembers can also take out supplementary cards on their account, further boosting the earning power. The Nectar Credit Card has a typical rate of 15.9% APR variable.

Katrina Cliffe, Vice President of Partnership, American Express, says: “If you are collecting Nectar points, the Nectar Credit Card is the smart way to pay for all your purchases whether at home or abroad. With the extra points and first three months double points offer, collectors can rack up points and earn treats from Nectar even faster.”