Amex responds to UK ‘voucher bug’
American Express has responded to the ‘voucher bug’ which has hit the UK recently, with the launch of a new rewards-based credit card in the UK.
The Express Rewards Credit Card will enable users to earn reward points when spending money on the card.
Shoppers will earn three points for every pound spent in supermarkets, two points for every pound spent in department stores and one point for every pound spent elsewhere.
The points can then be traded in for vouchers at a number of major stores throughout the country, which Amex says will incentivize providing Express Rewards credit card holders to pay with plastic.
Shoppers can redeem their points for vouchers or gift card to buy items at participating online shops or at Marks & Spencer, House of Fraser, Amazon, Boots, HMV, Harrods, Homebase, Molton Brown, Tiffany & Co., Comet, Net-a-Porter, Waterstones and iTunes.
Shoppers need to accumulate a minimum 5,000 points (£25) before they can be redeemed and thereafter in increments of 5,000 (£25) at most retailers, in accordance with their individual voucher/gift card policy.
New members of the Express Rewards Credit Card will be given 6,000 bonus points (worth £30) in the first year of membership if they buy items worth £500 in the first three months using the card.
American Express said that a card member can accumulate £200 worth of reward points every year, based on the estimated annual family spending of £18,000.
Katrina Cliffe, head of consumer cards at American Express said, “The 3-2-1 point earning rate means our credit card reward programme is one of the most generous on the market. As much of the UK’s shopping bill is spent in supermarkets and major stores, we’ve aligned with some of the UK’s major retailers to bring richer rewards for people’s everyday spending.”
Cliffe said that the launch is Amex’s response to the “voucher bug” that has bitten the UK market. She said there is a growing trend in the UK of using vouchers to get money off shopping, meals out and clothing.