Quick Q on Amex Platinum cash back.

matthew74

Dear All

After the initial 5% period it says we get 1.5% cashback if we spend over 10000 on the card annually, with lower rates below that. So if we spend 10001 pounds on the card annually do we get 1.5% on the whole 10001 or just on the £1 and the lower tiered rates on the rest?

Hope you catch my drift!

Cheers

Sammy_Girl

Hi Matthew,

I've got this card, and as I see it yes, once you've spent £10,000+ then you get the 1.5% on everything.

HTH

matthew74

Thanks Sammy - had better get spending then!

JohalaReewi

You get 1.5% on everything over the £10000. In your example, it's the £1 that gets the 1.5%.

matthew74

Any advance on two different answers!!!!!

Thanks both! None the wiser then! However knowing CC companies I'm sure JohalaReewi you are right.

97trophy

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. No rebate payment will be made if, in the 12 months preceding your Card Anniversary Date, the amount of rebate earned totals less than £12.

from their website

matthew74

97trophy - thanks, I have read it but didn't really understand it. I think I do now, bad news I think.

rich176

Hi there,

Has anyone else had an extremely low credit limit set on their new Amex Platinum cashback card? I am sure this is so you can't spend too much when you are within the 5% 3 month period. I have another Amex credit card with a £10K limit, earn £100K+ per annum and yet have had the limit on my new card set at £700. I can't remember the last time I had a card with such a low limit. I've requested it is raised, even in exchange for lowering my other amex card credit limit, but been declined.

What a swizz... it means I can only possible get a max of £35 cashback in any one month.

Any views?

Richard.

PS - my forst time on the forum too, so hope i'm in line with the rules.

matthew74

I think it is quite normal for cc companies to give you very low limits on second cards with them. This is my first Amex and they gave me over £12K.

HGLTsuperstar

Simple - clear your bill during the month after each purchase instead of waiting for your bill - thereby restting your £700 every few days

Richard019

QuQuote:
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. No rebate payment will be made if, in the 12 months preceding your Card Anniversary Date, the amount of rebate earned totals less than £12.
from their website

I'm not sure what side you're posting that for, excess being underlined is confusing me there.

Reading it without any bold/underline effects I would take the word aggregate (ie total) as being the key thing there. That would mean just one cashback rate is applied to your entire spend, the level of it being determined by your spending level.

ie spend £10,000.99 and you get £100, spend £10,001.01 and you get £150 (that 2p VAT cut on your packet of chocolate biscuits could be costly)