Amex Platinum Cashback Negative Cashback with Foursquare promo

pingles

Hi,

I've noticed in the cashback statement of my Amex Platinum Cashback Credit Card I'm receiving negative cashback amounts for credits coming from the Foursquare promotion.

I emailed Amex and they credited the amounts back to my account within a day.

Obviously the amounts are tiny (under £1 in total for me) but if anyone's been making more of the promos it may be worth checking to see if you have also been receiving negative cashback amounts.

InsideInsurance

You would get negative cashback though, presumably.

The original transaction goes through at 100% the value and you get your 1.25%

A couple of days later a rebate is added to the account for the promotion and therefore some of the cashback also needs to be clawed back in the same way as if you've had a refund.

So you spend £100 on a promo of spend £100 and get £50 back.

Initially you should see £100 being charged and £1.25 being accrued for cashback

You will then see a £50 rebate but also £0.63 of the cashback being removed

pingles

D'oh- good point, had completely missed all that.

I fear I've cheated Amex out of 50p

*stupid face*

InsideInsurance

pingles wrote: »

I fear I've cheated Amex out of 50p

*stupid face*

If AmEx collapse tomorrow, we'll know who to blame

[Deleted User]

Funny you should say that, they went bust this morning.

Just kidding.