American Express has partnered with Loyalty Management UK (LMUK) to launch the Nectar Credit Card from American Express.
The card, which is available from mid-September, gives customers shopping at participating retailers the equivalent of two per cent money off.
Retailers participating in the scheme include Sainsbury's, Argos, Debenhams and BP petrol stations.
Collectors can also redeem their points at ebookers, Odeon cinemas and Blockbusters.
The card will be fee free, made of clear plastic, have a competitive APR and balance transfer rate as well as a package of insurance benefits.
A survey showed that the average Nectar collector spends £8,000 a year at participating retailers, giving them a £160 reward over the same time.
To read more about credit cards, click here.
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