New AMEX everyday platinum cashback card No FEE

reclusive46

Bravehearted wrote: »

Now, this is a card I would get - no annual fee.

The other one is a rip off.

Hardly. It all depends in how much the person spends in a year.

w211

brightonman123 wrote: »

when i worked at Ame, the Platinum (charge) card was seen as a status symbol.. for supposed high rollers, annual fee was £300 or so.. how times have changed!

It was £300, only just increased it this year by 50% to £450!

Only worth it though if you use the (mostly travel)benefits, they give you offers througout the year such as 2 x £10 vouchers for spending at duty free in Heathrow, and 2 fast track security vouchers, free valet parking at Westfield shopping at Christmas, travel insurance, priority pass etc.

Only managed to get the cashback credit back (about 6 years ago - when the top tier was 1.5% with no annual fee), as I'm self-employed and it appeared they take your income as the criteria.

After managing the account well, paying off in full every month (otherwise defeats the point of a cashback card if it's lost in interest payable), was accepted for their charge card when I applied for it a few years later.

JohalaReewi

Bravehearted wrote: »

Now, this is a card I would get - no annual fee.

The other one is a rip off.

Not true.
The devil is in how Amex calculate cashback.
You are very likely to lose more than £25 worth of cashback with the fee free card.

I did the maths using my annual Amex spend to compare the two cards.
Although the annual fee card charges £25, it got £36 more cashback than the fee free one. So I would be £11 better off with the annual fee card.

Bravehearted_2

JohalaReewi wrote: »

Not true.
The devil is in how Amex calculate cashback.
You are very likely to lose more than £25 worth of cashback with the fee free card.

I did the maths using my annual Amex spend to compare the two cards.
Although the annual fee card charges £25, it got £36 more cashback than the fee free one. So I would be £11 better off with the annual fee card.

Again depends on how you use it and individual circumstances.

I have both of them - and a third cashback card which is a Visa for those stores that refuse visa.

I'm on the road a lot, and my calculation and with my combination of Amex and Visa - the fee free on is more profitable.

Simply depends - I was speaking of my own case. I'm sure someone else will come along and explain which is best for them.

Maestro.

brightonman123 wrote: »

when i worked at Ame, the Platinum (charge) card was seen as a status symbol.. for supposed high rollers, annual fee was £300 or so.. how times have changed!

Bravehearted wrote: »

Going by the posts on here and Amex's tighter acceptance criteria, it is still considered something of a status symbol.

Up to people to decide if they agree.

It still seems very much like a status symbol to me, but at the end of the day cashback is cashback! I still don't think I'm "posh" enough for an AmEx card though and having one in my wallet would probably make me feel a bit queezy.

Although any credit card could theoretically be viewed as a status symbol as they generally take a bit of legwork to come by.

starM

Hi, I currently have a Amex charge card. Will they take this into account when looking at new application for a credit card? MS

reclusive46

starM wrote: »

Hi, I currently have a Amex charge card. Will they take this into account when looking at new application for a credit card? MS

Probably more likely to accept you for it as long as you haven't missed payments.

dosh37

Beware the sneaky £20 dormancy fee if you don't use the card for 12 months.