American Express Discussion Area

AMILLIONDOLLARS

Just noticed under the T&C that I maybe eligble for the 2% rebate after 12 months, which works out at £154, if so the £40 charge will be taken of, as well as the annual fee I will be charged for not spending a minimum £500pa, lets hope I pay off the debt before the £154 runs out!!

Yes, I know there is interest somewhere in there!!!

Daniel_B

Hi Guys,
I've had a Blue card for nearly 18 months now, and believe that after this year, I will be better off with a platinum card - spending should be greater than >£8000 PA.

My question is, how easy is this to do, will I need to go through the whole application process again, and cancel the blue card etc etc, or is there a method to 'convert' my blue accoun to a Platinum account?

I did ask this on my last call to them, but lets just say I didn't get a straight answer - one of their suggestions was that I could have a Blue AND a Platinum card :rolleyes: Okay then.

I feel sure that some peeps on here must have changed cars, so if you could share your combined wisdom with me it would be very much appreciated!

Kind regards

Dan

Daniel_B

Nobosy on here has ever converted from one to the other then......??

brindles01

Can I get some advice please? Just received egg card with £1250 credit on it + 9mths BT and 6 mths purchase at 0%. I have also got ok to transfer ISA to A&L plus a LTSB Platinum card with £9000 credit and no balance outstanding! Can anyone please advise how to use this combination to gain maximum benfit of cash. Also I have existing ISA with £5200 balance and want to know the optimum time to do the transfer to A&L so as not to squander any interest. THANX

grumbler

brindles01 wrote:

...Just received egg card with £1250 credit on it + 9mths BT and 6 mths purchase at 0%. plus a LTSB Platinum card with £9000 credit and no balance outstanding! Can anyone please advise how to use this combination to gain maximum benfit of cash.

Why this thread?
If your LTSB card is not absolutely new you can't gain anything out of it. With the Egg Card (are you sure it is not Egg Money?) you cannot make a lot of money too. You can transfer 95% of your limit - £1187.5 to your current account and then to some saving account (possibly, directly to a saving account). Fee for the transfer is 2%. Even if you still have part of you current tax year ISA allowance unused the maximum you can make is £1187.5*(5.15%*9/12-2%)=£22. In fact profit is even smaller because of 2% monthly repayments.

I have also got ok to transfer ISA to A&L ... Also I have existing ISA with £5200 balance and want to know the optimum time to do the transfer to A&L so as not to squander any interest.

You can transfer your ISA at any time without loosing any interest. If you transfer the whole ISA interest is added stright away.

brindles01

So I would just be ok to put as many purchases on my egg card to the limit and let it sit there for 6 months with minimum payments and save the money until payout day? I didnt think I was going to make a fortune but something is better than nothing and it all counts. Thanx for the reply.

grumbler

brindles01 wrote:

So I would just be ok to put as many purchases on my egg card to the limit and let it sit there for 6 months with minimum payments and save the money until payout day?

Yes. Just be careful with monthly payments (I usually recommend Direct Debit) and with 'payout day' - usually it is different from either statement date or payment date.

Bokken_2

AMILLIONDOLLARS wrote:

Just noticed under the T&C that I maybe eligble for the 2% rebate after 12 months, which works out at £154,

Hi are you refering to the cashback on the platinium card @ 2% once your spend is over £7500?
If you have BT'd you money on to the Platinium card your BT does not qualify you for the 2% cashback.
best check the T&C's again to be sure or of course just wait.

AMILLIONDOLLARS

Oh Well again!!!

I'm still learning!!!!!!

The_Toff

http://www.americanexpress.com/pes/uk/benefits/red/microsite/index.html

wow

It IS a credit card.

It DOESN'T give you cashback, but 1% of spend goes to the Global Fund for Africa. Percentage increases to 1.25% over £5000.

It WILL be chip and pin.

12.9% APR. (5.9% life of balance transfer)

Launches in March.