Amex Platinum Cashback - More Than £2000/3 months?

[Deleted User]

Hi guys,

Just picked up this card - it has 5% cashback on the first £2000 spent in the first three months of ownership (max £100) and then 1.25% after this.

Thing I was wondering is are you effectively capped to £2000 in the first 3 months as far as cashback is concerned? For example if you spent £3000 in the first three months would you still only get £100 cashback for this three month period of would the extra £1000 attract the 1.25% rate? Can't find this info in the paperwork - I know I can just call them to ask but just wondered if anyone here had already asked the question or have first hand experience.

Separately, I want to use this card as much as possible for cashback but for the inevitable retailers that don't accept Amex, I thought I'd get a backup cashback card. As I travel quite a bit the Aqua Reward card seems perfect with 3% on up to £3, 333/year and no foreign currency charges. I was wondering, however, given they are intended primarily for people with poorer credit, does even having this card reflect badly on your credit?

YorkshireBoy

Lazyloki wrote: »

...given they are intended primarily for people with poorer credit, does even having this card reflect badly on your credit?

Why would it? The Lender's name is not shown on the copy of your report that other lenders see.

However, as I said to someone else asking the same question recently, they may have a good idea it's not a 'prime' card due to the likely(?) £250-500 credit limit.

[Deleted User]

YorkshireBoy wrote: »

Why would it? The Lender's name is not shown on the copy of your report that other lenders see.

However, as I said to someone else asking the same question recently, they may have a good idea it's not a 'prime' card due to the likely(?) £250-500 credit limit.

Thanks for replying. Yeah I knew that lenders don't get to see the name of other learners but, as you say, they do get to see the limit and be able to infer that it may be a sub-prime card.

So... Will the fact that lenders will be able to infer that the Aqua is a sub-prime card have any negative impact on future credit-worthyness?

Not being pedantic, it's a genuine question!

reclusive46

On the Amex cashback card you go straight onto the 1.25% rate after the first 2000. Its not like the Capital one where you can't earn after until the 3 months are up.

[Deleted User]

reclusive46 wrote: »

On the Amex cashback card you go straight onto the 1.25% rate after the first 2000. Its not like the Capital one where you can't earn after until the 3 months are up.

Cheers, exactly what I was wondering.