American Express Platinum question

Mishomeister

Typhoon2000 wrote: »

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

According to this site:
Platinum Everyday card beats the £25 annual fee Amex Platinum if you spend £5,000 or less, but for higher spenders, the card with the fee works out as more profitable.

I am also getting £25 cashback fom Quidco for this card, whilst for EveryDay card Quidco only pays £5.

pompeyred

Hi,


It would be a lot easier for the community to help if you tell the community what you want to do and how much you're going to spend etc....


My guess would be that in debt circumstances they might apply the cashback early to reduce their liability in anyone becoming a risk but it's a guess.


You will be pro-rate refunded for any period of the fee you no longer wish to have the card.


Open up.... what's your plan - people here are very good, they'll help you achieve it or tell you why you can't.

mustang1

My cashback was credited and the annual £25 charge was debited on the same day this year so you wouldn't be able to get the benefit of cashback and then close the account without paying the £25 charge. As someone said, you should be credited back a partial refund of the annual charge if you close the account.

King_Of_Fools

Mishomeister wrote: »

According to this site:
Platinum Everyday card beats the £25 annual fee Amex Platinum if you spend £5,000 or less, but for higher spenders, the card with the fee works out as more profitable.

I am also getting £25 cashback fom Quidco for this card, whilst for EveryDay card Quidco only pays £5.

The everyday card is only better if you spend less than £3333 in a year and you get no cashback if you spend less than £3000 so there is a very narrow window in which it is worth having the card.

Mishomeister

pompeyred wrote: »

Hi,


It would be a lot easier for the community to help if you tell the community what you want to do and how much you're going to spend etc....


My guess would be that in debt circumstances they might apply the cashback early to reduce their liability in anyone becoming a risk but it's a guess.


You will be pro-rate refunded for any period of the fee you no longer wish to have the card.


Open up.... what's your plan - people here are very good, they'll help you achieve it or tell you why you can't.

The plan is repaying the balance in full every month.

It is also worth noting that I have a Luma card that pays 4% on £225 of every month's supermarket shopping. I also have a Halifax Cashback cc that pays 1% on everything. So 1.25% cashback is only by 0.25% better than Halifax Card.