Credit Card Review & Application
American Express Platinum CashBack Credit Card
- Introductory bonus: 5% cashback on the first £2,000 of purchases in your first three months
- On-going cashback: 1.25% cashback on virtually all your spend - no caps!
- Engagement bonus: 2.5% cashback in the anniversary month, when you spend £10,000 a year
- Cardmembers have the opportunity to opt-in to exchange their annual cashback for retail vouchers which can be used at High Street shops and receive up to an extra 5% on top of their cashback balance
- Interest rate for purchases: 14.0% p.a. variable.
- Representative 18.5% APR variable. Based on annual fee of £25 and assumed credit limit of £1200.
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| Intro APR: | N/A* |
| Intro Period: | N/A |
| Representative APR: | 18.50% (variable) * |
| Annual Fee: | £25.00* |
| Issuer: | American Express |
| Card Network: | American Express® |
| Card Category: | Consumer (Premium) |
| Card Type: | - Instant Decision Card - Reward Card |
| Credit Needed: | Good* |
In stressful economic times such as these, it is nice to know that there are some credit card options out there which are designed to help you benefit more.
The American Express Platinum Cashback Credit Card, for instance, allows United Kingdom credit customers to get cash back on everything they buy. If you live in the UK, this card might save you money, or at least earn you some pleasurable rebates on things that you were probably planning to buy anyway.
For the first three months, you can get a 2.5% cashback bonus of up to £100 on stuff you buy all the time. If you were to just use this card when you fill your car's fuel tank, for example, you could very easily and quickly start to earn cashback rewards.
Keep in mind that while this card does allow for cash advances and balance transfers, there are no cashback rewards for those particular functions as they only apply to rebates on standard purchases.
After the introductory period ends, you will still enjoy a 1.25% rate for the lifetime of the card. While this is much smaller, it is still an attractive benefit since you know that no matter what it is that you buy, you will have the option of receiving cash back at the end of the year. Since this card has no annual fee, that money goes directly into your pocket.
The representative variable interest rate for this card is slightly higher than others in the same qualifying range, currently, but the cash back options definitely give it an edge over the competition.
Not many other cards are currently offering similar benefits at a similar rate. You should also know that this card will charge you a dormancy fee if you do not exhibit any spending activity over a 12-month period.
| Reward Types: | - Cash Back Reward Cards - Travel Reward Cards - Universal Reward Cards |
| Reward Unit: | Cash |
| Rewards: | - Introductory bonus: 5% cashback on the first £2,000 of purchases in your first three months - On-going cashback: 1.25% cashback on virtually all your spend - no caps! - Engagement bonus: 2.5% cashback in the anniversary month, when you spend £10,000 a year |
| Expiration: | None* |
| Yearly Limit: | None |
| Other Benefits: | - Zero online fraud liability - 24/7 customer service - Purchase insurance - See terms and conditions of the MoneyBack card |
| Online Account Access: | Yes |
| Introductory APR: | N/A* |
| Introductory Period: | N/A* |
| Representative APR: | 18.50% (variable)* |
| Annual Fee: | £25.00* |
| Grace Period: | 56 days* |
| Min Finance Charge: | £0.50 |
| Min Credit Line: | £700 |
| Max Credit Line: | £25,000 |
| Late Payment Fee: | £12.00* |
| Over Limit Fee: | £12.00 |
| Balance Transfer: | Yes |
| APR on Balance Transfer (%): | 18.90% |
| Transfer Fee (%): | 3.00% |
| APR Cash Advances: | 27.90% |
| Cash Advance Fee: | 3.00% |
| Minimum Fee: | £3.00 |
| Additional Fees | Foreign Exchange: 2.99% Conversion Commission Copy Statements: £2 for an additional copy of each statement Transaction Record: £3 for each copy of a record of Transactions |
| Apply Now |
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† Information concerning the American Express Platinum CashBack Credit Card is confirmed to be accurate at the time of publication (Jan 31, 2012). We strive to keep this information updated but cannot guarantee its accuracy. Readers are strongly advised to go through appropriate terms and conditions attached to a product before submitting the application.
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