American Express together with Vitality, the health and life insurer have just launched a co-branded credit card.
This is especially interesting to see given the cashback rewards that are available, its a co-branded card and the EU imposed limits on fees charged to the retailer from the card issuer. However, this is no normal cashback card ……… read on to see.
The new Vitality American Express® Credit Card rewards you with a healthy cashback booster. The more active you are, the more cashback booster you can earn, based on your monthly activity and how many eligible Vitality plans you have. You can earn up to 1% cashback from American Express, and up to 1% cashback booster with an eligible Health or Life plan. If you took out a second eligible Health or Life plan, you could get an additional 1% cashback booster.
Cashback from American Express :
- Spend £0 to £5,000 and get 0.5% cashback on purchases
- Spend over £5,000 and get 1% cashback on purchases
The more purchases you make on your Card, the more cashback you can earn. As long as you spend a minimum of £3,000 in your Card membership year, every full £1 you spend on purchases qualifies for cashback.
Cashback from Vitality:
You can earn Vitality cashback booster on the first £1,000 of purchases per month. Vitality cashback booster will be paid once a year, in the thirteenth month after the Vitality American Express Credit Card anniversary date. This will be paid direct to the Card Account.
Each month’s cashback booster rate is based on the activity points earned two months prior. So you won’t earn Vitality cashback booster until the start of the third calendar month after you activate the benefit with Vitality. You can earn Vitality cashback booster on the first £1000 of purchases each month. You’ll earn no cashback booster on purchases under £4, when your rate is 0.25%.
Visit Vitality Health Amex Reward for full info and T&C’s.
There is no sign-up bonus, however there is a purchase offers such as the £99 Apple Watch.
Obviously, this card is aimed at those who live a active and healthy lifestyle (or plan too) and would like to receive ‘additional’ rewards from this. You cannot just apply for the card and receive 3% cashback.
What is very interesting is that its a new co-branded card which begs the question, are there more in the pipeline from Amex?