Reward cards can be rewarding, but it's not always easy to understand how your hard earned points translate into cold hard cash. In our Q&A section Marco asked the question “How much are my Nectar points worth?” to help we've created a tool to allow you to quickly and easily work out the true value of your Nectar points. How much are yours worth?
What is Nectar?
For the uninitiated Nectar is a popular reward card used by stores such as Sainsburys, Argos, Homebase, and even ebay. Every time you make a purchase at one of these stores, your Nectar card is swiped and points are added to your account. These points can be converted into cash, vouchers, or even used for purchases. Nectar has had a bad reputation of late for being one of the lowest paying reward cards (see our article on the best reward cards to carry), but while Amazon and Debenhams have both pulled out of the program, we think it's still worthwhile for those who regularly shop at Sainsbury's, or fill up with fuel at BP.
Tip: You can earn but no spend Nectar points when shopping on eBay. This is particularly useful when buying higher value items like used vehicles.
Note: It will be interesting to see what happens with Nectar if Sainsbury's planned merger with Asda goes ahead. Watch this space for any developments.
How do I get a nectar card?
You can apply for a Nectar card online at Nectar.com or pick one up in selected participating stores. If you do the latter, you can begin using it straight away, then register it with Nectar once you get home.
How do I work out what my points are worth?
The calculation is pretty simple. There's roughly 200 nector points to the pound, not including bonuses or special offers. Still, rather than doing the maths yourself, simply select Nectar as the reward card type, enter the number of points you have, and the tool will return the cash value.
Tip: Our calculator displays the value of your points in pounds, but Nectar regularly runs offers that when redeemed can boost the value of your points.