American Express launches new reward credit card

American Express has announced the launch of its Express Rewards Credit Card which provides shoppers with more reward points earned every time they shop. The points can be redeemed for vouchers or gift cards at leading UK high street retailers.

In a statement, American Express said the Express Rewards Credit Card offers rewards points based on how much and where card members shop. Card members will earn points under the following:

• 3 points for almost every £1 spent at major UK supermarkets;
• 2 points for almost every £1 spent at major UK department stores;
• 1 point for almost every £1 spent elsewhere.

Shoppers can redeem their points for vouchers or gift card to buy items at participating online shops or at Marks & Spencer, House of Fraser, Amazon, Boots, HMV, Harrods, Homebase, Molton Brown, Tiffany & Co., Comet, Net-a-Porter, Waterstones and iTunes.

Shoppers need to accumulate a minimum 5,000 points (£25) before they can be  redeemed and thereafter in increments of 5,000 (£25) at most retailers, in accordance with their individual voucher/gift card policy.

New members of the Express Rewards Credit Card will be given 6,000 bonus points (worth £30) in the first year of membership if they buy items worth £500 in the first three months using the card.

American Express said that a card member is capable of accumulating £200 worth of reward points every year, based on the estimated annual family spending of £18,000.

Katrina Cliffe, head of consumer cards at American Express said, “The 3-2-1 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.”

Cliffe added that the launch of the Express Rewards Credit Card is American Express’ response to the “voucher bug” that has bitten the UK market. She said there is a growing trend in the UK of using vouchers to get money off shopping, meals out and clothing.