AMEX Platinium Cashback

antuk

Hi all,

I've just noticed some small print on the AMEX Platnium that says cashback is only paid if you reach a minimum of £12, does anyone know if your cashback rolls over if you dont reach this or is wiped out and starts again at the cutoff point?

Thanks

mrmajika

I believe it's wiped out on the card anniversary date if it has not reached £12 by that point.

SmartRRRR

I noticed the minimum payout in the small print a few months ago. I've not used the card since, they are effectively charging £12 a year to have the card, although the advertising claims it's a 'no fee' card.

I use a cashback card from Citi that doesn't have a fee or minimum payout but I understand it's no longer available to new applications.

I agree with mrmajika, the cashback is reset on the anniversary date.

mrmajika

SmartRRRR wrote: »

I noticed the minimum payout in the small print a few months ago. I've not used the card since, they are effectively charging £12 a year to have the card, although the advertising claims it's a 'no fee' card.

This isn't quite true. If you reach £12 or over then you receive every penny of the cashback you have accumulated.

It is those who have only accrued £11.99 or less that won't receive anything.

They won't, as I think you're suggesting, take £12 off everyone's cashback.

ylesia

SmartRRRR wrote: »

I noticed the minimum payout in the small print a few months ago. I've not used the card since, they are effectively charging £12 a year to have the card, although the advertising claims it's a 'no fee' card.

I don't agree with this either, all they are saying is that you receive cashback if you earn at least £12. There are three scenarios:

• If you don't use the card then you don't pay anything and you don't get anything - fair enough.
• If you earn more than £12 then you get all the cashback
• If you earn between £0 and £12 cashback then you don't qualify to earn that cashback, as they have a minimum payout, you haven't lost anything, just not received the bonus of cashback.

With the 5% introductory offer on the first 3 months, you only have to spend £240 on your card in 3 months to earn £12 cashback. Seems like a great deal to me.

MPH80

Even on the standard tiers - you only have to put £2,400 through in a year - that's just £200 a month.