CALLING all AMEX Platinum card holders of more than 12 months!

Daniel_B

Where are you - you must be out there?!

Can you tell me what cash back you had, ie is it lines with their T's & C's?

17.1 An annual rebate on the aggregate amount of all Transactions (other than Cash Withdrawals) will be payable to you by us at the following tiers and rates:

17.1.1 0.5% for aggregate amounts up to £3,000 and

17.1.2 1% for aggregate amounts from £3,001 to £7,500 and

17.1.3 2% for aggregate amounts in excess of £7,501

So what I am asking is:

If you spent more than £7500 did you get:

0.5% * £3000
1.0% * £4499
2.0% * anything over £7501

The reason why I am EAGER to know, is that I am thinking of swapping my BLUE card for one of these, as I anticipate spending more than £8000 (the point where the cards reward the same) next year, and need to know if this is the case.

If the card only pays 2% for your spend over £7500, then that indicates to me that it only becomes better value at roughly around the £14500 mark.

Thanks in advance

Dan

Bokken_2

You have all the facts before you and I did post a reply in the Amex discussion.
If you are still not convinced you would be better discussing it with the Amex customer services.Numbers on the back of your card.

Daniel_B

Hi Bokken,
I saw your reply - and thankyou for it - I replied as well.

Ringing customer services may well just muddy the water, as I may get the answer they gave you, or may get a different one.

I'm not interested in what is supposedly going to happen, but want to know what HAS happened.

The only concrete way I can see to get this out is with real life experience out in the marketplace - not T's & C's, or customer service, your average forum member, gettig his cashback, and seeing how much he got.

That's all I'm asking for, the man\woman in the street's experience, and the amount of hard cash they got back from AMEX.

If what they told you is correct, then Martin Lewis needs to be informed ASAP, as otherwise his Credit card cashback guide is somewhat misguided, and people wil be signing up, maybe partly due to incorrect information.

lets see what feedback we get.

Hope the mods don't mind - just thought it would be worth posting outside of the AMEX thread - as it will get more visibility, and can either be deleted or merged later on.

Thanks

Dan

Clariman

The only concrete way I can see to get this out is with real life experience out in the marketplace - not T's & C's, or customer service, your average forum member, gettig his cashback, and seeing how much he got.

Other customer experience if useful, but the only thing that really counts is what the Ts & Cs say, so never dismiss Ts & Cs like that !

If you spent more than £7500 did you get:

0.5% * £3000
1.0% * £4499
2.0% * anything over £7501

That is what Amex have paid me for each of the last 2 years.

The reason why I am EAGER to know, is that I am thinking of swapping my BLUE card for one of these, as I anticipate spending more than £8000 (the point where the cards reward the same) next year, and need to know if this is the case.

If the card only pays 2% for your spend over £7500, then that indicates to me that it only becomes better value at roughly around the £14500 mark.

The breakeven point where people often suggest getting the Amex Platinum card is £9000 but that is when comparing it to a straight 1% cashback card. It is harder to compare it against Amex Blue because the Amex Blue starts at 0.5% but pays double in the first 3 months so it depends on your spending patter (that info is from memory - I haven't checked it for a month or so).

One small point. When looking for information, it would be helpful if your initial post actually mentioned which card issuer you were talking about !!

Clariman

Daniel_B

Thanks Clariman,
I wasn't dismissing the T's & C's, just that in the main AMEX thread it has been discussed, and customer services has told Bokken, I got the impression, that cashback was only paid on any purchases made OVER £7500.

Hence why I was 'ignoring' the T's and C's, and why I was looking for some hard customer evidnce, like that of your goodself.

My Blue card will be 2 years old now, so my 2% into period is long over.
The break even point for me is £8000 - at this point both cards should give cashback of £70.

Thanks for the small, but VITAL point - I have amended the thread title accordingly

Thanks again

Dan

MSE_Martin

This has come up many times before. And i have it in writing from the powers that be exactly how it works..... please remember the articles are written which huge hours put into them.

You get paid 0.5% on all spending up to £3,000
1% on all spending up to 7,500
and 2% about that

Thus spend 8,000 and you get 0.005 x £3000, 0.01 x £4,500 and 0.02x500 as cashback

Hence why it is better at 9,000 than any other card, because at that point the average cashback tops over the 1% mark

martin

Daniel_B

Brilliant, thanks Martin, well that's more than good enough for me!

I guess this thread can be merged/deleted now by a moderator??

Thanks

Dan

xycom1

Indeed, it's exactly as Martin describes it - this September will be my fourth year with the Amex Platinum credit card.