American Express RED Card launched

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American Express RED Card launched

Today sees the commencement of the American Express RED Card plan, by which a minimum of one per cent of every pound spent on the card is donated to Global Fund projects.

For spending that exceeds an annual level of £5,000 this will increase to 1.25 per cent and an extra £5 will be donated on behalf of customers who spend on their card in the first month of their deal.

Research conducted by the company claims that its new offer will appeal to 'conscience consumers' who are interested in creating a social change through their spending.

Katherine Whitton of American Express commented: "This product will offer consumers a convenient way to turn everyday spending into something extraordinary by generating funds to help others."

The American Express RED Card charges an annual percentage rate of 12.9 per cent and a balance transfer rate of 5.9 per cent for switches made in the first six months, continuing for the duration of the balance.

Also included on the card is a REDdeals benefit, which offers discounts and access to retail and entertainment events and a REDpass, which, on a quarterly basis, will offer one cardholder the chance to do something "bespoke and extraordinary".

Travel accident insurance, refund protection and purchase protection will also be incorporated into the American Express RED Card package.

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