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 (only available to cardholders who have not had a personal American Express Card in the previous 24 months).
Representative APR: 30.7% variable.
Fees: No annual fee.
Perks: At the end of the initial three month 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.
Pros of the American Express Platinum Cashback credit card
- No annual fee, unlike other American Express cashback cards.
- It has an excellent 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 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 best 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.
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.
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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
- Barclaycard Rewards credit card
- John Lewis Partnership credit card
- Sainsbury's Dual Offer credit card
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