American Express Platinum Cashback Card Review

AN OVERVIEW TO THE AMEX PLATINUM CASHBACK CARD 

This is my review of the American Express Platinum Cashback Card (Amex Platinum Cashback Card Review).

The American Express Platinum Cashback Card is issued directly by American Express.

Amex Platinum Cashback Card

You can hold up to 2 charge cards and 2 credit cards which have been issued by American Express at anyone time, although this doesn’t include Amex cards which are provided by the likes of Lloyds, TSB or Barclays. I’d recommend checking your credit rating before applying for a new card. Generally you should have a rating in excess of 700+. Click here for a free Equifax credit report and score.  It’s free for the first 30 days and then £14.95 per month afterwards (make sure you cancel in the first 30 days!).

It comes with a £25 annual fee however this is offset by the £25 bonus when you spend a £1 on the card.

THE SIGN UP BONUS FOR THE AMEX PLATINUM CASHBACK CARD

The American Express Platinum Cashback Card offers 5% cashback on all spending up to £2,500 in the first 3 months and a further £25 when you spend just £1 on the card. As such the annual fee of £25 can be more than offset by this perk.

WHAT ARE THE OTHER BENEFITS FOR THE AMEX CASHBACK CARD? 

The on going cashback offerings are good. These are structured as follows:

  • 1% back if you spend under £10,000 from month 4 to month 12 (and annually thereafter)
  • 1.25% back on your spend over £10,000 from month 4 to month 12 (and annually thereafter)

ANYTHING ELSE I SHOULD KNOW ABOUT THE AMEX PLATINUM CASHBACK CARD? 

American Express no longer has a minimum income requirement for the card.

You cannot receive the sign up bonus if you have had another Amex Platinum Cashback Credit Card in the last 6 months., This does not apply to a Platinum or Gold Preferred Rewards Card, BA Amex Card or any Amex issued by MBNA, Lloyds, Barclays.

SUMMARY OF THE AMERICAN EXPRESS PLATINUM CASHBACK CARD 

For those that will be spending more than £2,500 in the first 3 months, the 5% cashback (equating to £125)  and £25 when you spend just £1 on the card will more than offset the £25 annual cost of the card. The on-going cashback rates are also competitive. For those that spend a significant amount on their Amex card for work, the 1.25% (once spent more than £10,000) will also help those pounds go further. I currently use this card for a large amount of my business expenses.

I hope you’ve found the Amex Platinum Cashback card review useful and as always please do comment if you have any queries.  Please do share this post if you think friends would be interested.

A link to the application form for the American Express Platinum Cashback credit card offering a further £25 when you spend £1 can be found here.