Amex Blue-get full 1% on all spend

bob_builder_2

M_Thomson wrote:

I thought exactly the same as you, but it is not the case. The cashback is 0.5% for the first £2000 and 1% for the rest. I checked it out on my last cashback credit.

Yes and I am not conviced the 2% works out at that unless you spend more than £2000 in the year.
I think you get 2% for the first 3 months and then the 0.5% starts from that period so you have to spend £2000 after the 3 months before you start earning 1%.

M_Thomson

bob_builder wrote:

Yes and I am not conviced the 2% works out at that unless you spend more than £2000 in the year.
I think you get 2% for the first 3 months and then the 0.5% starts from that period so you have to spend £2000 after the 3 months before you start earning 1%.

I was talking about people who do not have the initial 2% offer. I meant on a normal year when cashback is paid. Not sure how the 2% thing works.

raptorz

M_Thomson wrote:

I thought exactly the same as you, but it is not the case. The cashback is 0.5% for the first £2000 and 1% for the rest. I checked it out on my last cashback credit.

Ah right! Still not too bad I guess. Its a bit unclear though from their wording.

bob_builder_2

M_Thomson wrote:

I was talking about people who do not have the initial 2% offer. I meant on a normal year when cashback is paid. Not sure how the 2% thing works.

In my first year I got about £80 cashback.

I spent £2500 in my first three months and this gave be 5000 cashback points.
In the last nine months I spend a further £4000 so I ended the year with 9000 points. These points were then converted to cashback using 0.5% for the first 2000 (£10) and 1% for the remaining 7000 (£70) giving £80 in total.

You could view the £80 cashback as follows:
I got 2% for the first 3 months (£50)
I got 0.5% on the first £2000 after the 3 months (£10)
I got 1% on everything over that (£20)

Alternatively, you could view it as follows:
I got 0.5 * 2 = 1% on the first £1000 I spent (£10)
I got 2% on the £1500 extra I spent in the first 3 months (£30)
I got 1% on the £4000 I spent after that (£40)

So you could argue that you do not get 2% on everything in the first three months.

I am not quite sure what would happen if you only spent in the first 3 months. For example, say I had spent £1000 in the first 3 months and expected to get £20 cashback - from they way they work it out it looks like you might only get £10!