AMEX Nectar Card

lindabea

I have applied for the Amex nectar card about a week ago. This morning I received my PIN - presumably the card will follow. But my question is this:

if I receive 4 points for every £1.00 of spending ( admittedly from Nectar sponsers), this would mean that I need only spend £125.00 to gain 500 points for which I'll receive £2.50. Can someone please tell me if thiis nectar scheme gives a better return than any cash back card currently on the market. I think it beats the 0.5% on say Morgan Stanley (after the 2000.00 double limit)

Can anyone please confirm which would be a better way - cashback or nectar

King_Of_Fools

The equivalent cashback at Nectar sponsors is 1% (not including Nectar points you already get) and 0.5% elsewhere.

The other advantage over other cashback cards is that you get points every month rather than having to wait a year for your cashback.

lindabea

King_Of_Fools wrote:

The equivalent cashback at Nectar sponsors is 1% (not including Nectar points you already get) and 0.5% elsewhere.

The other advantage over other cashback cards is that you get points every month rather than having to wait a year for your cashback.

Sorry King - I don't quite understand your reply. Would I get a better return from the Amex Nectar than any other cash back card. Even at 1% cash back, this would only be £1.25 compared to £2.50 on 500 points. Is my logic right? I think I'm on the right logic, but I'm beginning to doubt it that it's double the cashback equivalent.

King_Of_Fools

lindabea wrote:

Sorry King - I don't quite understand your reply. Would I get a better return from the Amex Nectar than any other cash back card. Even at 1% cash back, this would only be £1.25 compared to £2.50 on 500 points. Is my logic right? I think I'm on the right logic, but I'm beginning to doubt it that it's double the cashback equivalent.

You have to separate the Nectar points you would get with or without the card.

If you shop at a Nectar store (e.g. Sainsbury's) you get 1% in Nectar points however you pay. If you use the Amex card you get an extra 1%. You have to compare this with other cashback cards.

If you shop at a non-Nectar store you get 0.5% if you use the Amex card.

So therefore, the Amex card is as good as a 1% cashback card at a Nectar store but only a 0.5% cashback card elsewhere.