I applied for my Nectar credit card by American Express online. The online application form was extremely easy to fill out and although you don't get an instant decision I received my credit card through the post about three weeks later. Like all credit cards nowadays the card is chip and pin and I received my pin number under seperate cover to lower the chances of fraud.
The credit limit i received with my card was huge which can be a plus or minus depending on circumstances.
With the Nectar by American Express being a reward card i was a bit wary that this credit card would not be good value but the interest rates are actually very competitive. Firstly for balance transfers made within the first six months of opening your account the rate is 5.9% APR for the life of the balance. This is good as you will not suddenly be hit with a big hike in interest after a few months. There is also no annual fee for transferring balances which is becoming unusual as more credit card companies are using this as a way of earning more. The purchase rate of interest is 12.9% APR which is low compared to competitors. There is no annual fee on the Nectar Credit Card.
Another plus point is that the card is issued by American Express who are a huge company with a proven track record. Anytime I have phoned with a query the staff have been very helpfull. You can also set up a password to check your account online and set up payments etc at www.americanexpress.com
REWARDS
It is estimated that one out of every two households in the UK is part of the Nectar reward scheme where you collect points from various retailers including Sainsburys, BP, Debenhams and a lot more. Points can then be exchanged for money off vouchers or various goods including CD's, an IPOD, Digital Camera's and lots more. The Nectar credit card rewards you with 1 point per pound spent or double at Nectar sponsors. At the moment you can also earn 2,000 bonus points the first time you use your card so the points mount up very quickly.
One small bad point about this credit card is that the card itself is very flimsy and looks like it could snap very easily but that in itself does not take away from this card.
How helpful would this review be to a person making a buying decision? Rating guidelines
Advantages: low APR for balance transfers - but only if you can actually get it! Disadvantages: apalling customer service, incompetent staff, non-existent complaints procedure
Advantages: low APR for balance transfers - but only if you can actually get it! Disadvantages: apalling customer service, incompetent staff, non-existent complaints procedure
very helpful by (46%):
helpful by (54%):
