Amex Platinum - Cash Back Forfeited !

praisethelord_2

Amex UK has decided to cancel my card and account through "non-usage" before the cash back already accumulated was due to be paid!. Therefore resulting in my cash back being "Forfeited".

They announced my cancellation by letter, dated 29th Aug. received 8th Sept, stating it was "to be cancelled in 4 days"

Payment history or unpaid balances were not an issue with my account.

Suggest if you have a Amex card and are waiting for cash back, speak to them or else lose it!!

Any one else with similar experience?

:mad:

lolarentt

They have been modifying the terms of cashback over the last year - latest letter says they are introducing a 'dormancy fee' of £20/year if card isn't used - doesn't say anything about just cancelling it though!

Also they are increasing the minimum cashback payment to £25 (now £12) so that means you'll have to spend minimum £4250 a year to get any cash back at all.

Dabooka

I'm confused; if it's being cancelled for dormancy reasons, how much cashback were you due exactly?

sdooley

After the first 3 months where you get 5% cashback, you only get 0.5% - but you need to keep the card open to the end of the year to get the cashback.

I didn't know they closed accounts for non-use. Thanks for the warning. I guess the way to get round it is to but a few small items each month, paying off in full, but what a pain, especially as AMEX isn't widely accepted.

lisyloo

A minor pain, but it's not a massive thing.
Boots, Amazon, petrol stations and most restaurants take it.
Unless you're a hermit and don't use petrol then you should be ok.

Dabooka

sdooley wrote: »

After the first 3 months where you get 5% cashback, you only get 0.5% - but you need to keep the card open to the end of the year to get the cashback.

I didn't know they closed accounts for non-use. Thanks for the warning. I guess the way to get round it is to but a few small items each month, paying off in full, but what a pain, especially as AMEX isn't widely accepted.

Surely they''ve not closed it for a few months dormancy though? I'd assume it's be a least a year.

And I agree with other posts, I use my Amex weekly for petrol and shoppping with no problem at all. Granted it's not as accepted as Visa or Mastercard, but it's accepted in enough places.

Kavanne

Have you called and complained? What did they say?

praisethelord_2

Amex cancelled as I had not used the card "to its potential credit limit" which I was not aware they had, also, the dormancy was from 6 months, but heavily used to optimise the initial cash back of 5%.

Credit Services at Amex, are due to send out a letter to me giving me another dept to complain to ..... in writing!

Wait and see!

withnell

You should be able to claim the cashback still, unless you've broken any T&Cs

IdlePedro

I've had exactly the same problem. In my case they said they were closing my account due to "inactivity" (I hadn't used if for four or five months). I complained that their decision to close my account seemed completely arbitary and I have complied with all the terms and conditions - there's nothing to say I have to use the account a certain amount to qualify for the cashback.

Anyway, they gave me an address to write to to take my complaint further, so I've written to them and am awaiting their reply. I'd also consider taking the case to the Finiancial Ombudsman Service depending on the reply I get. It's not a massive amount of money (£125 in my case) but the principle is patently unfair.

AHulme

I can't spend £4250 a year using AmEx. Noone told me no Cashback is paid to you if your Cashback amount is equivalent to less than £25.00 which equates to £4250.00 spend on the card excluding any promotional offer.

This figure represents an increase in the minimum qualifying threshold up from £12 to £25 and is really difficult to get.

I wasn't aware of this when I applied and want others to be aware. In many cases it makes having a card pretty unworthwhile.