Amex Plat Cashback Card - Payment of CB

[Deleted User]

Just had a quick look at the T&Cs for this card and it seems that you loose all cashback if you cancel your account. As I understand it this means that you must have the card open for at least a year - and therefore pay 2 x annual fees of £25) in order to receive any cash back. So, two questions:

1) Have I understood this right?
2) Does this card qualify for Amex's normal pro-rata fee refund should I bag my CB on my account anniversary and then cancel?

Cheers!

JakeGreen

1) Yes this is correct. You will pay the annual fee for year 2 before you get your cashback from year 1.
2) I'm not sure. Sorry!

thesaver79

Lazyloki wrote: »

2) Does this card qualify for Amex's normal pro-rata fee refund should I bag my CB on my account anniversary and then cancel?

I'd be interested to know as well!

Russinating

Pretty sure all credit card fees are pro-rata?

[Deleted User]

Just looked a little deeper into the T&Cs:

"Any annual fee paid in advance in respect of the remaining part of the year in which your Account is closed will be returned to you pro-rata taking into consideration the length of time until the start of your next membership year."

So, looks as though you can wait for your anniversary, pay the second year annual fee, get your cash-back and then cancel for an almost full refund. Of course, you could just keep the card open as it's still one of the best CB cards around!

Only slight confusion is that these T&Cs were listed on the Amex site as 'sample terms and conditions' so I guess they may not be up to date.

zerog

Surely the fee is just part of the cashback (albeit negative until you hit a certain annual spend)