The American Express Platinum Cashback Everyday credit card is one of a range of cards from American Express that offer both cashback and rewards. 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 (up to a maximum of £100) for the first three months after opening the account.
Representative APR: 22.2% variable.
Fees: No annual fee.
Perks: You can receive 0.5% cashback on spending up to £5,000 and 1% on spend above £5,000. This is set to change on 4 August 2021, when you will need to spend over £10,000 to get 1% cashback. There is also travel accidence insurance included, as well as access to Amex Offers and Amex Experiences.
Pros of the American Express Platinum Cashback credit card
- Unlike many of the cards in the American Express range, this card does not have an annual fee.
- It has an excellent introductory offer of 5% cashback for the first 90 days (up to a maximum of £100), but the standard cashback offer after that initial period is also attractive.
- The APR is reasonable when compared with similar cards, although it is better to clear the balance each month to keep payments interest-free.
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 offers.
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.
Alternatives to the American Express Platinum Cashback credit card
- Barclaycard Rewards credit card
- John Lewis Partnership credit card
- Sainsbury's Dual Offer credit card
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