American Express launches new reward scheme

American Express is launching a new credit card, where reward points earned on spending can be redeemed for high street retail vouchers or gift cards.

The Express Rewards Credit Card offers bonus points on spending, more being available in locations where transactions most frequently occur.

Under the scheme, three points are available for every £1 spent at major UK supermarkets, two points for the equivalent in department stores and one point for every pound spent elsewhere.

Points earned can be redeemed for a voucher at Marks & Spencer, House of Fraser, Amazon, Boots, HMV, Harrods, Homebase, Molton Brown, Tiffany & Co, Comet, Net-a-Porter, Waterstones and iTunes.

Katrina Cliffe, head of consumer cards at American Express, said the 3-2-1 point earning rate meant its credit card reward programme "is one of the most generous on the market".

She added: "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."

Last week, Financial Times Adviser senior editor Hal Austin told the publication that greater access is needed to the best credit card offers.

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2009-12-03 12:56:02 © Moneyextra.com