Amex Platinum Credit Card Cashback Complaint

hippey

Thanks for the positive replies...

The main point is that Amex has done this with EVERY SINGLE customer, so not just me or the bloke next door, this is with everyone who has the Cashback Card. And it was worth me bringing this up as I did get more than the £8 back! Much more!

In essence I'm a bit old fashioned, look after the pennies and the pounds look after themselves which is all I wanted. The actual cost of me bringing this forward to Amex was a phone call of just over one hour - total cost nothing! And it was mostly done whilst washing up!

sharpy2010

My apologies, well done on your win!

td_007

When Amex have bowed down and acknowledged that they could have done better, I am surprised that some people are still supporting what Amex has done!

Well done again - as always it is the work of a minority of people who refuse to be taken for a ride that result in changes the majority can enjoy including those who hide their head in the sand and refuse to accept that they have been taken for a ride.

JohalaReewi

tali wrote: »

So if you spend £1.99 you only get the 5% cashback on the £1 and nothing on the 99p?.I always found their calculations confusing mine were "double what i spent each month" i was told

If you are on 0.5% cashback, you will get no cashback on £1.99 (you have to spend at least £2). For 5% cashback on £1.99, you should get cashback of 9p. What they are doing (since March 2009) is working out the cashback on each trasaction and rounding each one DOWN to whole 1p.

What Amex used to do was to total up your spend on the CC then work the cashback out on this (so all the 99p's would add up).

The result of the change means you get less cashback than before.

It could also take you longer to reach the 1.5% band (or 1.25%) because they may work out when you switch bands based on the awarded cashback total and not the total amount spent.

billion25

JohalaReewi wrote: »

If you are on 0.5% cashback, you will get no cashback on £1.99 (you have to spend at least £2). For 5% cashback on £1.99, you should get cashback of 9p. What they are doing (since March 2009) is working out the cashback on each trasaction and rounding each one DOWN to whole 1p.

What Amex used to do was to total up your spend on the CC then work the cashback out on this (so all the 99p's would add up).
.

Keep in mind that those are extreme examples -- most people do not have purchases of £1.99 (or £0.99) on their credit card. The op had spent £14 k and was only able to identify an impact of £8 due to rounding. It's worth noting that the exact same rounding happens on the Tesco Club Card.

td_007

billion25 wrote: »

It's worth noting that the exact same rounding happens on the Tesco Club Card.

It does not! Amex round down each transaction on the statement whereas Tesco clubcard points are rounded round on the purchase total.
So two transaction of £1.99 on Amex gives 2 points (each £1.99 gives 1 point) whereas that on tesco gives 3 points (£1.99x2 = £3.98 which gives 3 points).

williham

td_007 wrote: »

It does not! Amex round down each transaction on the statement whereas Tesco clubcard points are rounded round on the purchase total.
So two transaction of £1.99 on Amex gives 2 points (each £1.99 gives 1 point) whereas that on tesco gives 3 points (£1.99x2 = £3.98 which gives 3 points).

No.. two seperate transations of £1.99 using a clubcard would earn you 2 points.

If you bought two items coming to a total of £3.98 then you'd get 3 points.

td_007

williham wrote: »

No.. two seperate transations of £1.99 using a clubcard would earn you 2 points.

Correct!

williham wrote: »

If you bought two items coming to a total of £3.98 then you'd get 3 points.

If you made two purchases of 1.99 each on Amex, you will end up with 2 points, with Tesco you get 3 points. That is the difference I am talking about.

Ritchie74

td_007 wrote: »

If you made two purchases of 1.99 each on Amex, you will end up with 2 points, with Tesco you get 3 points. That is the difference I am talking about.

Surely...
If you go into Tesco on one occasion and buy 2 items at £1.99 and paid with your Amex, you would get 3 clubcard points and 3 Amex points = no difference.

If you go into Tesco on two occasions and buy 1 item at £1.99 on each occasion and paid with your Amex, you would get a total of 2 clubcard points and 2 Amex points = no difference.

Your argument is flawed as you are comparing one visit into tesco (one transaction) with a months credit card transactions. If tesco worked as a credit card (make lots of transactions and pay at the end of the month) ie like-for-like comparison then there would be no difference in the points allocation.

hippey

Okay I think some people are confused, I don't know how the tesco card works but with Amex in your example of the £1.99 spend you would only get the % value on £1.00 then 99p would be ignored. so this would happen on every transactions.

The cashback card doesn't use points to calculate the value it just uses the percentage.

However the new amex rewards card uses points and this does follow the rule of per £ per transaction, and in some cases it can really be big difference when comparing to other reward type credit cards.