American Express

McKneff

A few weeks ago i got an Amex card with a 5% cashback for 3 months.
I plan to buy everythg on this card (for 3 months anway)
Today i got my first statement which was for £111.85 and i rang tonight to pay it over the 'phone. However, The money back summary says
Eligible Spend £2.26 Total Eligible Spend £2.26. now its not rocket science
to know that £2.26 is not 5% of £111.84. I asked Customer Services
why the amount was £2.26. I was given all sorts of explanations which meant absolutely nothing even she was getting confused and she eventually said at the end of the conversation, "actually, i have no idea, but save your statements for the 3 months and see what happens.", now as an accounts clerk i have my balance hat on and that doesnt do it for me. I rang again and another lady gave me the "i have no idea" spiel as well. I didnt have a calculator to hand but 5% of £111.84 comes to £5 plus. Does anyone have any explanation.

JayZed

Not sure of the answer, but it sounds to me as though £2.26 is not the cashback you're getting but the spend on which you are receiving cashback - so you'll be receiving 5% of £2.26, i.e. about 11p! I could be wrong, but that's how it reads to me.

That suggests that £109.49 was not eligible spend. I just looked at the T&C for this card and it says "No rebate is payable on cash withdrawals, interest, fees, balance transfers, amounts subsequently re-credited to your account due to refunds, or expenditure in any one month exceeding the amount of your Credit Limit." Does any of that apply?

McKneff

It sounds as if your answer is spot on but none of it applies
the only things that were on the statement were 4 shops at Morrisons
all for between £25 and £30

JohalaReewi

The eligible spend is usually how much of your statement total was eligible for moneyback. So it should be £111 in your case. However, Amex have got some funny scheme where they double the eligible spend in the first 3 months so you get your 5% cashback There are a few threads discussing just how on earth this will work. All that can be safely said is that the monyeback eligible spend is a mystery that not even Amex know the answer to.

McKneff

thanks Johala, your post makes sense (Although AMEX doesnt)
The lady at the CS said something about doubling at the end of 3 months
but that didnt make sense as there was nothing on my statement regarding this - I will be interested to see the figures at the end of the 3 months so I'm keeping my statements safe.

Thanks again. and you Jayzed for your time

temba

Hmmmm, I was just about to post on this as well.... I got this card last month and on my statement there is NO mention of cashback anywhere. I can't find anything about it on the website. I spent £186, and all of it should be eligible according to the conditions JayZed mentioned. I will be ringing them tomorrow to see what is going on.

ICan'tStandIt

anniehanlon wrote: »

I was given all sorts of explanations which meant absolutely nothing even she was getting confused and she eventually said at the end of the conversation, "actually, i have no idea, but save your statements for the 3 months and see what happens.", now as an accounts clerk i have my balance hat on and that doesnt do it for me. I rang again and another lady gave me the "i have no idea" spiel as well. I didnt have a calculator to hand but 5% of £111.84 comes to £5 plus. Does anyone have any explanation.

That has to be the best line ever spoken by a customer service rep ever

Amex moneyback normally works in tiers, so don't you have to have spent a certain amount before you start getting the 5% ?

This is how it works on my Platinum Amex credit card:

£0-3,500 : 0.5%
£3,501-10,000 : 1%
£10,000 + : £1.5%

The tiers that apply to your case should show under the moneyback summary box on the back of your statement.

latecomer

The special 5% rate is for the first 3 months and up to £4000 spending. I've got one and the eligible spending is usually double what the actual spending was. there was also a note on the statement saying that the way its calculated might seem strange but not to worry (or something to that effect). Needless to say I'm keeping all the statements and will be checking it next year when I've had the account 12 months.

influx08

i too have this card and i think we have been sold a duck.

When i looked into it, it looks like icantstandit is correct and that you have to get over a certain threshold in order to qualify for the 5%.

I am very annoyed with it as hardly anyone accepts it anyway!

latecomer

the 5% is an introductory rate and its meant to apply to the first 3 months spending - after that you get a cashback rate relative to your spending. If that isn't/wasn't the case then Amex are going to have a lot of upset customers when they get to their anniversary and find that they dont have the correct level of cashback.

ICan'tStandIt

latecomer wrote: »

the 5% is an introductory rate and its meant to apply to the first 3 months spending - after that you get a cashback rate relative to your spending. If that isn't/wasn't the case then Amex are going to have a lot of upset customers when they get to their anniversary and find that they dont have the correct level of cashback.

If something seems too good to be true, it probably is.

Anyone that thinks they have been misled should write a letter of complaint to: Executive Relations, which used to be (and quite likely still is) Department 333, Amex House, Edward Street, BRIGHTON, BN88 1AH.

I'd do it now rather than wait until the moneyback is due.