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As the credit card market matures, credit card companies are coming up with new offerings in order to attract customers. These can be in the form of sign-up bonuses, bonus points categories or co-branded offerings. Similarly, American Express is introducing a new credit card in the UK. It has partnered with insurance company Vitality to launch a co-branded credit card. What’s really interesting about this product is that you earn cash back based on the level of your physical activity!
New American Express Credit Card
The Vitality American Express credit card will reward members with cash back based on their level of activity. In essence, members can earn a maximum of up to 3% cash back on their purchases. The cash back percentage will be calculated based on their level of activity, their membership with Vitality and their spend on the card.
“We’re excited to launch this innovative new cashback Credit Card which rewards savvy, health conscious Cardmembers for making positive changes to their wellbeing. Our partnership with Vitality is an important example of how we’re backing customers with rewards and benefits that enhance their lifestyles.” – Stacey Sterbenz, Vice President, Marketing at American Express
Health, Fitness & Gym Memberships
This credit card is currently available only to UK residents who are currently vitality customers. I’m hoping that American Express comes up with a similar product for the US market. Even if this would be a cash back card initially, that would be a good way to shake up the market with an innovative co-branded card.
They could make it even better! Imagine having the ability to earn Membership Rewards points for working out! As much as I love food, I love working out and I’m a strong proponent of eating well and maintaining an active lifestyle. The ability to earn extra membership rewards points for things I do as part of my routine would be a fantastic additional perk!
The Pundit’s Mantra
If you’re currently looking to earn points for working out, you can sign up for the World of Hyatt credit card by Chase. Chase is currently offering a 50,000 World of Hyatt points bonus on this card. What’s unique with this credit card is that it has gyms and fitness clubs as a bonus spend category.
So, for every dollar you spend at gyms and fitness clubs, you earn 2 World of Hyatt points. Therefore, if you simply put your monthly membership dues on this card, you’ll keep earning valuable World of Hyatt points every month. Before you apply, please note that the World of Hyatt Credit Card is subject to Chase’s 5/24 rule.
In conclusion, would you sign up if Amex were to offer a similar product in the US? Do you currently hold the World of Hyatt credit card and use the gym/fitness club bonus spend category? Let us know in the comments section.