Egg Money or Amex Platinum??

dylanuk

Gareth83 wrote: »

Can someone confirm what I have just said is correct?

This is correct, American Express terms and conditions of the introductory cash back offer read:

"An annual rebate on the aggregate amount of all transactions (other than the exclusions stated above and any introductory offer) will be payable to you by us and calculated at the following rates, 0.5% for aggregate amounts up to £3,500; and 1% for aggregate amounts from £3,501 to £10,000; and 1.5% for aggregate amounts in excess of £10,001."

Gareth83

billion25 wrote: »

I can gaurantee that spending during the introductroy period will move you through the tiers and when the introductory period ends, if you've spent more than £3,500 you move right to 1%.

I'm not sure I buy into that to be honest.

The difference in the two cards over 9mths will be negligible, but seen as I know I won't be spending anywhere near £13k I'll stick with the tried and tested Egg. (after I've taken advantage of the 3mth period)

Your guarantee isn't as significant as as Amex's T's and C's as I'm sure you can imagine

ldn-100

Keep them both. Use Amex Platinum wherever you can and Egg Money everywhere else. Amex also has refund protection, which Egg Money does not have.

AlbertoBalsam

Hi,

I'm going take out my first credit card to take advantage of the 5% 3 month cashback deal from AMEX. I'm going to do this through quidco. From reading the above I see that i should keep the card open for a year to get the cashback. I'd like to know more about monthly repayments though.....

.....Do i just pay off the balance at the end of the month? and if so will this balance be solely what i ve spent or will interest be applied?

Cheers

Nipa2008

I have since received an Amex Platinum to take advantage of the 5% cashback offer over the Christmas period. The rate will then revert back to it's standard policy of 0.5% up to £3500, 1% £3500-£10k then 1.5% above that.

If my average spending is say £7k a year, would that mean I'd receive 0.5% on the first £3500 and then 1% on the remainder?

If so it probably makes more sense to stick with the Egg Money 'after' the 5% period is over as it has a flat rate of 1%

Gareth83

AlbertoBalsam wrote: »

Hi,

I'm going take out my first credit card to take advantage of the 5% 3 month cashback deal from AMEX. I'm going to do this through quidco. From reading the above I see that i should keep the card open for a year to get the cashback. I'd like to know more about monthly repayments though.....

.....Do i just pay off the balance at the end of the month? and if so will this balance be solely what i ve spent or will interest be applied?

Cheers

Yes, ensure you set up a DD as the rates aren't great if you don't pay it off each month!

The balance will be solely what you spent

Gareth83

Nipa2008 wrote: »

I have since received an Amex Platinum to take advantage of the 5% cashback offer over the Christmas period. The rate will then revert back to it's standard policy of 0.5% up to £3500, 1% £3500-£10k then 1.5% above that.

If my average spending is say £7k a year, would that mean I'd receive 0.5% on the first £3500 and then 1% on the remainder?

Yes

If so it probably makes more sense to stick with the Egg Money 'after' the 5% period is over as it has a flat rate of 1%

This has been discussed and answered above. Unless you spend what I noted above it would be simpler to just stick to the Egg

lisyloo

Gareth83 wrote: »

Are you sure on that point?

My info came from Amex over the phone.
I double checked to make sure I understood correctly.
So he could have been wrong but I don't think I misunderstood what I was told.

According to

The above according to http://www.credit-card-comparison-online.co.uk/american-express/platinum.asp would suggest there is a tiered rate after the introductory period.

Correct.

This does not include any spending previously.

I am not sure how you have concluded this.
I don't think it's conclusive either way.

Can someone confirm what I have just said is correct?

Has anyone thought of confirming with AMEX themselves?
I'm sticking to Egg Money but mainly because I prefer to use one card.