Analysts positive about Nectar credit card

Following from an announcement earlier today that the Nectar credit card will be available from tomorrow, industry analysts have remarked positively about the product.

Samantha Owens, head of research at the independent financial information provider moneyfacts.co.uk, said: "Just last month Sainsbury’s stopped giving Nectar points to new card customers, so it is good to see a provider introducing an incentive.

Further comments, from Richard Mason, director of credit cards at moneysupermarket.com, highlighted the positive impact of American Express on customers following Barclaycard's withdrawal from the Nectar scheme earlier this year.

"This is a sensible move by Amex given many credit card users were disappointed when Barclaycard pulled out of the Nectar scheme alliance in July this year."

Both analysts agreed that the card was excellent value for those paying it off in full every month, for those unable to do this, Mr Mason has some further advice: "Their main concern should be to find a card that allows them to pay as little interest as possible, such as a card with a zero per cent introductory offer for balance transfer with no transfer fee."