Taking the measure of the Nectar credit card – which is offered by American Express – it's easy enough to do after spending just a few minutes going over the attractive features offered by the card. This widely accepted card comes with no annual fee, which is definitely an attraction these days when people are trying to save a little bit of money wherever they can.

Just like any normal credit card, the Nectar credit card works in all the ways that most cards do. However, it also gives the cardholder what American Express refers to as “Nectar points.” This is a form of reward program that is good anywhere the card is accepted. Additionally, certain participating partners will enable the cardholder to gain double points whenever a companion Nectar Loyalty card is presented along with a credit card itself.

The way it works is that whenever a cardholder makes a purchase -- either online, in person or in any other fashion that allows for purchases using a credit card-- The cardholder will receive four Nectar credit card points for every one British pound that is spent using the card. The card also awards double points for the first three months after the card has been issued.

For every 500 British pounds spent using the Nectar credit card, the cardholder will be awarded 500 points as well. This is per calendar month, by the way, not on an accumulated basis. The card does not come with an upper limit, which can be a great way for those people who have sterling credit and the ability to pay on it to gain a great many Nectar points, by the way.

Typically, the annual interest rate on the Nectar credit card is a very reasonable 18.9%, which is quite impressive considering cards over in the United States are charging 3 to 4 points more, on average, making this particular card quite attractive for many people in the right financial situation. Ideally, one should look at rewards-type cards like this as a way to take credit card debt and leverage it properly.

Also, this card can be better in many ways than the typical rewards credit card because the Nectar card awards those points – which are redeemable for a wide variety of goods, services and other benefits – regardless of whether or not the balance is paid off fully at the end of the month for billing cycle or whether they credit card balances carried over from month to month.

In all, there appears to be a great many features and benefits to the card that aren't usually so flexible and attractive, it must be said. There are reasonable billing cycles and terms and conditions, the interest rate on an annual basis is actually quite good, especially considering how banks and other credit card issuers have been trying to raise interest rates of late, and there's no annual fee. In all, considering the card from American Express – and especially the Nectar – may just be the way to go.