American Express launches cash back credit card
American Express has today (December 2nd) introduced a credit card that offers customers discount vouchers and gift coupons when they spend money on plastic.
Announced today (December 2nd), the new product offers money back from Marks & Spencer, House of Fraser, Amazon, Boots, HMV, Harrods, Homebase, Molton Brown, Tiffany & Co, Comet, Net-a-Porter, Waterstones and iTunes, among others.
Purchases made at supermarkets with the cash back credit card will earn consumers the most rewards, with three points for every £1 spent, while two points can be earned from equivalent transactions at department stores.
Every £1 spent at any other location in the UK using the cash back credit card will offer one point.
When 5,000 points have been collected, worth £25, the discount vouchers worth £25 can be redeemed.
Katrina Cliffe, head of consumer cards at American Express, said: "The three-two-one point earning rate means our credit card reward programme is one of the most generous on the market.
"As much of the UK's shopping bill is spent in supermarkets and major stores, we've aligned with some of the UK's major retailers to bring richer rewards for people's everyday spending."
Credit card companies in the UK recently gained a rival in the form of automotive expert the AA, which has launched a plastic product with a novel rewards scheme.
The organisation, which already offers financial services such as motor car insurance and personal loans to help purchase a vehicle, launched a cash back credit card providing points to drivers buying automotive products.
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