Amex weekend bonus

hippey

I received a letter yesterday regarding my Amex Platinum card offering me a weekend bonus of 1% on all spending if I paid a £3 monthly fee.

The letter explained the basics and mentioned that when I signed up my terms and conditions would change, but they never enclosed any! I was thinking of cancelling this card anyway but it does seem an odd promotion.

Has anyone else received this letter?

Sillychuckie

I received a similar letter, entitled "Countdown to more cashback".

They are offering an additional 50% cashback for 12 months, for a £4 monthly fee.
There was no option of a 1% at £3.
Very odd indeed.

I did some maths.
Since I spend no more than 10k each year on this card, I am currently entitled to the 1% cashback amount. The 50% offer would bring this to 1.5%, giving me an extra 50p in each £100.
To cover the £4 monthly fee, I'd have to spend £800 per month, or £9600 per year.
Even if I were guaranteed to hit reach my 10k estimate, thats only (after break-even), an extra 0.5% cashback on £400.

i.e. The best I can do out of this is an extra £2.
The worst I could do, would be to spend under £9600 and get hurt by the £4 monthly fee (potentially £48 worse off).
Obviously, anyone would be mad to take them up on this offer.

They must think we are really stupid.
It is also plainly obvious from my spending habits, that I only applied for this account for some big spends within the first 3 months at 5%. No idea why they are sending out offers like this.

SC.