Amex offers incentives to new Nectar cardholders
Latest move in credit card rewards battle
American Express is offering newly signed up customers to its Nectar credit card 5,000 bonus points for the UK coalition loyalty scheme.
The points are worth a minimum of £25, but up to £50 when redeemed with selected brands including Amazon, Argos, Eurostar, Homebase and Sainsbury’s. Bonus points will also be awarded when the new cardholder spends £500 in the first three months.
At selected retailers including Alton Towers, Ask, Madame Tussauds and Thorpe Park, 500 points are worth £5 compared to the standard £2.50, which equates to a £50 bonus with the introductory offer.
The Amex move is the latest in a number of recent incentives offered by UK credit card issuers. Lloyds TSB has started giving a bonus of up to two free to new holders of its Airmiles Duo credit card, provided they spend ‘normally’ on the card in the first three months.
As reported on Loyalty yesterday, new research from moneysupermarket.com shows that more than half of the credit card users questioned chose their card because of the reward it offers, indicating the importance of loyalty rewards on payment cards.
There will be one point for almost every £1 spent on the card everywhere else.
American Express also recently launched the Starwood Preferred Guest Credit Card in partnership with Starwood Hotels.