Nectar credit card celebrates its anniversary : Credit Card Guide

Nectar credit card celebrates its anniversary

The Nectar credit card, which is a joint venture between Nectar and American Express, is celebrating its second anniversary, and there is good news for new customers signing up for this card.

As part of the celebrations new customers can enjoy an impressive five thousand nectar points when using the credit card at participating retailers and sponsors within ninety days of opening their accounts. In order to qualify for the five thousand points cardholders will have to spend £200 or more on their card.

Nectar is also currently offering cardholders the chance to earn up to six points per pounds spent at participating retailers, and up to two points per pounds spent anywhere else. Over £850 million has been rewarded by Nectar since it was launched according to reports, and it is through that by the end of this year this figure will rise to £1 billion. The card offers an interest rate of 15.9%, and by taking out additional cards consumers can enjoy earning even greater rewards.

The Nectar credit card is just one of many rewards based credit cards that are available in the UK, and many consumers enjoy the benefits of these cards. They are particularly useful for those that repay their balances in full at the end of each month, as it means that no interest has to be paid on the credit card yet consumers can still enjoy the benefits of accruing rewards.

In a recent study it was revealed that around twenty million consumers in the UK have credit cards that offer no rewards at all, which equates to around 43% of credit card holders. The study was carried out by American Express.

Tom Smith
8th October 2007

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