American Express Platinum question

Mishomeister

I have just been accepted for Amex Platinum Card. There is an annual fee of £25 so wanted to ask when is it payable eg straight away or in 1 year time?
Also when the cashback is payable? Eg every January or at the cards anniversary?
And finally do they charge the £25 before they pay cashback or after? Was wondering if it was possible to cancel the card before the £25 have been deducted?

MrSilk

I believe it's charged to your first statement. You have 14 days to cancel your agreement.

pompeyred

Fee is charged in first statement and cashback payable in month 13 as a credit to your account.

Mishomeister

pompeyred wrote: »

Fee is charged in first statement and cashback payable in month 13 as a credit to your account.

So does this means that you get charged twice by the time you get the cashback?

YorkshireBoy

Mishomeister wrote: »

So does this means that you get charged twice by the time you get the cashback?

Looks like you could be...


https://www.americanexpress.com/uk/content/pdf/card-products/platinum-cashback-credit-card/Plat-CB-TandC.pdf


The £25 is charged "on the statement date following each membership anniversary", but the cashback is credited "in the month after your anniversary date".

Mishomeister

Hmm. And what would happen to the cashback if I was to cancel the card at the last day of month 12?

YorkshireBoy

Mishomeister wrote: »

Hmm. And what would happen to the cashback if I was to cancel the card at the last day of month 12?

I'm getting my answers to your questions from the above linked document. I'm not sure how many more questions you have but perhaps you ought to read your T&Cs?...


Open link, right click, find, "cashback" (page 16 of 17).


But it appears in almost all cases you'd forfeit it.

Mishomeister

YorkshireBoy wrote: »

But it appears in almost all cases you'd forfeit it.

It is saying:

If you end your Card Account you will lose the Cashback that has been earned but not yet been applied to your Card Account as an annual credit.
In some circumstances, we may manually apply the Cashback you have earned to your Card Account as a credit before closure.

Wondering what do they mean by 'some circumstances'?

stator

Probably only if you are remaining a customer of theirs, ie different new account

wearethedogs

if you cancel after the cashback is given in month 13, you will receive a refund of any fee charged for year 2 (pro-rated).

Typhoon2000

Just get their no fee cash back card. It works out better for those spending less than £10k or thereabouts.