Sainsbury’s customers with Nectar cards are being given £100 worth of points for making one credit card change. Customers can bag 20,000 worth of Nectar points by applying for an American Express Nectar credit card and will gain more points whenever the card is used at a Nectar partner. Each Nectar point is worth half a penny, so 500 points will get you £2.50 off your shopping. But the value of the Nectar points can vary depending on where you choose to spend them and if you take advantage of any partner or special offers, which can sometimes boost the amount points are worth.
With the American Express Nectar credit card, customers will get 20,000 Nectar points by applying for the card and spending £2,000 in the first three months of card membership.
Card holders can then collect a minimum of three Nectar points for every £1 spent when shopping using the credit card and their Nectar card at a participating Nectar partner, including Sainsbury’s, Argos, British Airways, Caffe Nero, Eurostar and Esso, among others. A total of two Nectar points will be awarded for every £1 spent on the credit card everywhere else.
Credit card holders can also boost their Nectar points by 5,000 (worth £25) by recommending the card to a friend and the points will be transferred once they are approved.
You can refer as many friends or family members as you like but there are annual limits on the rewards you can earn through referrals. You can earn up to a maximum of 90,000 bonus points or a maximum of £150 cashback per calendar year and yYour friend must apply via the link you share with them to ensure you both get the bonus.
Plus, if you apply for a supplementary card for friends and family you can get 3,000 bonus Nectar points (worth £15) once your application is approved.
The card has a 36.8% APR, which is high, but you’ll never pay any interest as long as you pay it off in full each month.
Nectar said: “On average, Cardmembers collect 19x more points compared to a regular Nectar collector. That’s £150 more in Nectar points than average Nectar collectors in a year.”
The offer is only available to new card members who haven’t held a personal American Express card within the last 24 months.
Nectar adds: “20,000 bonus points will be added onto your Account once you have been approved and a minimum of £2,000 has been spent and charged to the account within three months of account opening.
“Collect 2 points for every £1 spent on your American Express Nectar Credit Card (except for purchases made at warehouse retailers in the United Kingdom where you will collect points at the rate of 1 point for every full £1) and a minimum of 1 point on your Nectar card at most participating Nectar partners. Different points levels apply as the base collect rate on the Nectar card varies with different partners.
“The annual Card fee is £30. You will receive the first year of Cardmembership with £0 annual fee. From year two of your membership, a £30 annual fee will automatically be charged to your Account on or after the anniversary of your Account opening date. The first year fee waiver is only available to new American Express Nectar Credit Cardmembers.”