Amex everyday platinum minimum spend and bonus rate question.

ricz_1

Hi Folks,

The T&Cs for the American Express Everyday Platinum card state "5% cashback for 3 months (up to £2000 spend)"

and also

"As long as you spend a minimum of £3,000 a year, almost every full pound you spend qualifies for cashback"

My question is; do you have to spend £3000 in a year to qualify for the cashback from the 5% introductory bonus? Or just for any cashback on top of this at the tiered rates? I was planning on using the card for 1 large purchase (annual TFL travelcard 1-4) and then not using it for much after that.

Thanks as ever,

Rich.

Deru

I believe you do!

anna42hmr

ricz_1 wrote: »

Hi Folks,

The T&Cs for the American Express Everyday Platinum card state "5% cashback for 3 months (up to £2000 spend)"

and also

"As long as you spend a minimum of £3,000 a year, almost every full pound you spend qualifies for cashback"

My question is; do you have to spend £3000 in a year to qualify for the cashback from the 5% introductory bonus? Or just for any cashback on top of this at the tiered rates? I was planning on using the card for 1 large purchase (annual TFL travelcard 1-4) and then not using it for much after that.

Thanks as ever,

Rich.

yes you do, basically within the account year you need to spend £3k in total so that they pay out the cash back, if you spend less than this although the cash back has accrued on the account it is not paid.

Once you've done the big purchase you call always work out what is left above the £3k and use that instead of debit cards etc in the meantime (i.e weekly supermarket shop etc), and just use the money in the account you would've spent to pay the card back so that you do not incur interest.

ricz_1

I see, thanks both. That puts a slight chink in the plan but I'm sure I can find some things over the 12 months on which to spend the remaining £1200.

anna42hmr

ricz_1 wrote: »

I see, thanks both. That puts a slight chink in the plan but I'm sure I can find some things over the 12 months on which to spend the remaining £1200.

I know what you mean, as i was worried at first as i arranged mine with the intent of using it for things for my new home (had the money in savings but wanted the protection with a credit card and secondly means that get the cash back).

My plan was taken slightly off course when i realised the place we had found the sofa from (Harveys) doesn't accept Amex so would be short on what originally planned to spend. However I have ended up using it on other items as well (all things that would've been bought any way) so now up to over £118 cash back and have gone over the £3k spend now as well (just).

One other thing that you could do, if you have a partner you trust and share expenses you can also earn the cash back on a second card holder for the same account, so it may be easier for two people to reach the £3k than one.