Nectar AMEX Annual Charge £25

reclusive46

bikeman17 wrote: »

I have three nectar cards under my account, one for myself and two for my family members so that they can get the foursquare deals which they did.

I am looking to keep my own card with the £25 fee and switch the other two as a fee free card.

Has anyone actually click on the link below and processed their switch over to the fee free card, or is it better to call up and get it down over the phone?

http://www.americanexpress.com/uk/microsite-nceapp/nectar-ip.html

You are better doing it online. If you do it over the phone, they have to send you a letter to sign.

King_Of_Fools

bikeman17 wrote: »

I have three nectar cards under my account, one for myself and two for my family members so that they can get the foursquare deals which they did.

I am looking to keep my own card with the £25 fee and switch the other two as a fee free card.

Has anyone actually click on the link below and processed their switch over to the fee free card, or is it better to call up and get it down over the phone?

http://www.americanexpress.com/uk/microsite-nceapp/nectar-ip.html

I did it online and they just send you a letter a few days later saying you are now switched to the fee free card.

When you say you have three cards on one account, I assume you mean that the other two are on the same bill. In which case there would only be one fee payable in any case and you could not have different types of account for the additional cards.

money_ninja

I also had the £25 fee letter. I am now confused. Is this right?
Old system = 2 points per £1 nectar partners, 1 point per £1 elsewhere plus 500 bonus points for £500 spend.
So say £800 monthly spend (split £200 nectar partners, £600 elsewhere - I use my card everywhere they take Amex!) is 400 pts (partners), 600 pts other, plus 500 bonus. Total = 1,500
New system= 2 points per £1 everywhere.
So £800 monthly spend - doesn't matter where it's spent is 1,600 pts.
So if you spend more with non nectar partners, especially just under 1,000 per month (so not enough for 1,000 bonus pts on old system). You will actually be better off points wise in the new system, but will you be 5000 pts (£2,500 annual spend) better off to cover your £25 fee?
I have understood this right as need to decide weather to cancel or not?

King_Of_Fools

money_ninja wrote: »

I also had the £25 fee letter. I am now confused. Is this right?
Old system = 2 points per £1 nectar partners, 1 point per £1 elsewhere plus 500 bonus points for £500 spend.
So say £800 monthly spend (split £200 nectar partners, £600 elsewhere - I use my card everywhere they take Amex!) is 400 pts (partners), 600 pts other, plus 500 bonus. Total = 1,500
New system= 2 points per £1 everywhere.
So £800 monthly spend - doesn't matter where it's spent is 1,600 pts.
So if you spend more with non nectar partners, especially just under 1,000 per month (so not enough for 1,000 bonus pts on old system). You will actually be better off points wise in the new system, but will you be 5000 pts (£2,500 annual spend) better off to cover your £25 fee?
I have understood this right as need to decide weather to cancel or not?

Welcome! You are pretty much correct.

The only thing I would correct is that you cannot fairly compare the points earned on the £25 card on their own as on the fee free card you still earn 1 Nectar point per £1 spent. Therefore, you would have to spend over £5000 per year in order to be better off with the £25 card.

Vortigern

Any wrote: »

for Costco purchases, as AE is the only credit card you can use there.

Will Costco accept any Amex card - or just their own Costco "True Earnings" Amex card?

derfo

I did the math too and concluded that the new Nectar card will work out better for me, even with the fee.

reclusive46

Vortigern wrote: »

Will Costco accept any Amex card - or just their own Costco "True Earnings" Amex card?

Any Amex card.

Any

Vortigern wrote: »

Will Costco accept any Amex card - or just their own Costco "True Earnings" Amex card?

I confirm it is any card.. I own nectar AE card.
But I always only got half of the points I would get elsewhere...
ie £90 shop = 45 points, even though I would collect 90 points with all other retailers, but the partner ones (where I would get double)

Any

King_Of_Fools wrote: »

I did it online and they just send you a letter a few days later saying you are now switched to the fee free card.

When you say you have three cards on one account, I assume you mean that the other two are on the same bill. In which case there would only be one fee payable in any case and you could not have different types of account for the additional cards.

I did it online on Friday (the last day possible) and they sent me an email that they cannot give me instant decision they will contact me??
Did you get the same? I definitely clicked on the link "change to the fee free card", I am only changing I don't want another card!
I have never been refused for credit card or was told to wait for decision and this is now worrying me! Especially as I was to apply for the Amazon card...

King_Of_Fools

Any wrote: »

I did it online on Friday (the last day possible) and they sent me an email that they cannot give me instant decision they will contact me??
Did you get the same? I definitely clicked on the link "change to the fee free card", I am only changing I don't want another card!
I have never been refused for credit card or was told to wait for decision and this is now worrying me! Especially as I was to apply for the Amazon card...

I cannot remember exactly what it said online but I do remember that they sent me a letter about a week later confirming that my application had been successful and that my card would automatically change over and they did not need to send me a new card.