http://www.teletext.co.uk/personalfinance/credit/default.aspxen-gbWed, 2 Dec 2009 12:23:36 GMThttp://www.teletext.co.uk/images/Logo64x64.gifhttp://www.teletext.co.uk
Amex has launched its Express Rewards credit card, which gives shoppers vouchers or gift cards for leading High Street stores.

For every 5,000 points, you get £25 of vouchers. Shoppers earn three points for every £1 spent at leading supermarkets, except Lidl and Aldi.

The American Express deal is essentially worth 1.5% cashback.

Two points are awarded for every £1 spent at department stores including BHS, Debenhams, Harrods, Harvey Nichols, House of Fraser, John Lewis, Selfridges and Marks & Spencer.

Department stores which accept American Express, such as Fenwick, Hoopers and Beales, pay 1%.

All other spending gains one point per £1 and is worth 0.5% cashback.

In addition, new card members get 6,000 bonus points, worth £30 in vouchers, when they sign up and spend £500 in the first three months.

You need to spend a fair amount on this card to make it work - but at the top rate its cashback deal is one of the best around.

Families who do all their shopping at supermarkets will find it particularly useful. Vouchers come only in £25 increments, but can be spent at several High Street stores as well as Amazon, iTunes and clothes store Net-A-Porter.

Source: thisismoney.co.uk

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The customer said: "I told Capital One it's no better than legalised extortion. I've never missed a payment or paid late - what a way to treat customers."

Another said: "My Capital One Classic Visa's old rate was 30.04%, new rate 39.9%. I'll be closing my card."

Capital One said: "Due to current market conditions, we have had to increase rates for some customers.

"As a full-spectrum lender, the rate increases we have made are based on our customers' risk profiles.

"The economic environment has changed and we must adjust rates to account appropriately for the increased risk of lending in an economic downturn."
Source: thisismoney.co.uk

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