American Express Platinum Cashback Everyday credit card review

2 min Read Published: 28 Feb 2024

American Express Platinum Cashback Everyday credit cardThe American Express Platinum Cashback Everyday credit card is part of a range of cards from American Express that offer cashback. Using the card efficiently in the first few months will mean you earn a significant amount of cashback.

The bonus for this option is that there isn't an annual fee and the APR is relatively low.

Key facts about the American Express Platinum Cashback Everyday credit card

  • Best for: A combination of cashback and perks.
  • Introductory offer: 5% cashback on purchases in the first five months, up to a maximum of £125. Customers must apply between 21 February and 9 April 2024 to receive the offer.
  • Representative APR: 31.0% variable.
  • Fees: No annual fee.
  • Perks: At the end of the initial offer period, you can earn 0.5% cashback on spending up to £10,000 and 1% on spend above £10,000. There is also travel accident cover included, as well as access to Amex Offers and Amex Experiences. You'll need to spend a minimum of £3,000 per year in order to qualify for any cashback.
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Pros of the American Express Platinum Cashback credit card

  • No annual fee, unlike other American Express cashback cards.
  • It has an introductory offer of 5% cashback (only available to cardholders who have not had a personal American Express Card in the previous 24 months) for the first five months, up to a maximum of £125 (you must apply between 21 February and 9 April 2024 to receive the offer).
  • The APR is reasonable when compared with similar cards, although it is best to clear the balance each month to keep payments interest-free.
  • Take advantage of Plan It – Amex's Buy Now, Pay Later scheme – to spread the cost of a purchase or part of your balance for a fixed monthly fee.

Cons of the American Express Platinum Cashback credit card

  • You need to spend a minimum of £3,000 per year on the card to qualify for the cashback.
  • You will not be eligible for the Welcome Cashback Bonus if you currently hold or have held any personal Amex cards in the past 24 months.
  • You are unlikely to be accepted for the card if you have any history of bad credit.

How to manage your payments on the American Express Platinum Cashback credit card

Cardholders can manage their accounts online or on the mobile app.

How to apply for the American Express Platinum Cashback credit card

It's a good idea to complete the online eligibility checker before making your application as it gives you a clear indication of whether you are likely to be accepted, without affecting your credit report.

How to find out which credit card is best for you

Comparing different credit cards is a key part of getting the best deal for you. Money to the Masses has helped to simplify this process by partnering with Creditec*, an online comparison service. You do not need to trawl through countless different provider websites hunting for the best cashback or lowest fees, as Creditec’s personalised search results will show you the key details you need to know in one place. Your tailored list will also feature the cards that you are more likely to be accepted for, cutting down the chance of any applications you make being rejected. Your search results are built using a soft credit search, so there will be no damage to your credit score. You can start your search by clicking this link*.

Alternatives to the American Express Platinum Cashback credit card

 

 

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