AMEX 5% cashback

leedspice

I have this card and am trying to use all the time, but frustratingly it is not taken at many outlets. I am due to go to Carribbean soon so will be disappointed if it is not taken there.

flowcash

I just got mine, only took a few days and limit of 16k! Most online services seem to take it, I am going to use it for business expenses like google adwords

IWantToBeFree_2

Once the 5% period comes to an end, you will get a much lower, tiered rate, if you are finding that you can't use the Amex in many places, then try another card once the promotional rate has run out, I use Egg Money, and as its just a standard Mastercard, its never been rejected.

Incidently, I have an Amex chargecard through my work, and used to use it quite often, and found that it was becoming much more widely accepted in most major high street retailers, supermarkets and petrol stations.

treb1971

leedspice wrote: »

I have this card and am trying to use all the time, but frustratingly it is not taken at many outlets. I am due to go to Carribbean soon so will be disappointed if it is not taken there.

Amex is not as widely-accepted as Mastercard or Visa, I would recommend taking another credit card as well just in case.

LongTermLurker

Does it pay cashback on foreign transactions? Some cards don't - check first. Bear in mind also you will pay conversion charges; AMEX will convert from, say, Jamaican $ to US$, then from US$ to sterling.

There is a whole thread called "who does and does not accept AMEX" - you should look on there for UK usage - but basically all major supermarkets, petrol stations and hotel chains do.

Treb is right - if you have an AMEX, you also need to carry another card as well. For spending abroad, look at Nationwide, because although you won't get cashback, it won't cost you to use either.

treb1971

I think Amex will pay cashback on foreign txns - because of the kind of Cardmember they want. If they didn't, then jetsetters wouldn't use Amex...!

JohalaReewi

LongTermLurker wrote: »

Does it pay cashback on foreign transactions? Some cards don't - check first. Bear in mind also you will pay conversion charges; AMEX will convert from, say, Jamaican $ to US$, then from US$ to sterling.

The conversion via USD only applies if you use Amex on Paypal's website. For normal foreign currency transactions, the amount is converted straight to GBP (and you pay a 2.73% commission). Might be worth having a Nationwide or Post Office credit card. Commision free oon foreign currency exchanges (but no cashback).

System

Amex do pay cashback on purchases whilst abroad - I rang them to check before I went to Ireland a few months back. The CSA (brilliant as ever!) said it's the same whichever country you visit.

Not 100% on conversion fees / commission rate, but do remember that the 5% cashback rate more than offset mine.

Regards
UNDERGROUND

LongTermLurker

JohalaReewi wrote: »

The conversion via USD only applies if you use Amex on Paypal's website. For normal foreign currency transactions, the amount is converted straight to GBP (and you pay a 2.73% commission).

That's not correct. On your statement, under Important Information on p2, it says "All foreign currency transactions ... non-US dollar transactions have been converted through US dollars, by converting the charge amount ionto US dollars and then by converting that US dollar amount into Pound Sterling. US dollar transactions have been converted directly into Pound Sterling." That ties in with item 12.1 in the CCA.

Amex do pay cashback on purchases whilst abroad - I rang them to check before I went to Ireland a few months back. The CSA (brilliant as ever!) said it's the same whichever country you visit.

Thanks for confirming Underground, I wasn't sure. Just checked and yes, there are no exceptions for foreign transactions. The 2.73% commission quoted by Joala is correct, so yes, the 5% cashback will cover that, subject to any loss through exchange rates between purchase- and processing dates (another quote).