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Old-style Amex Platinum Cashback Credit Card

eagle
Posts: 586 Forumite

in Credit cards
Hi all,
I have had the Amex Platinum Cashback Credit Card since 2008 (it pays tierd cashback up to 1.5%) and have been with Amex since 2004.
My other cards include Santander Zero for non-sterling spending, Santander 123 and my soon-to-go-in-the-shredder Cap1 card.
I am in the process of reviewing my options with my credit cards now and aside from the Cap1, I am considering ditching the Santander 123. I have had it for 9 months and got some cashback, but I will need to pay the annual fee later this year.
More significantly, I am considering putting my Amex Platinum to the side and getting a Gold Prefered Rewards Charge Card. I think at a flat 1% the membership rewards will make better sense for me. Plus, they reward more than 1% for stuff like travel spending.
Does this sound like a good plan to you?
Should I hold on to my old-style Amex Platinum?
I have had the Amex Platinum Cashback Credit Card since 2008 (it pays tierd cashback up to 1.5%) and have been with Amex since 2004.
My other cards include Santander Zero for non-sterling spending, Santander 123 and my soon-to-go-in-the-shredder Cap1 card.
I am in the process of reviewing my options with my credit cards now and aside from the Cap1, I am considering ditching the Santander 123. I have had it for 9 months and got some cashback, but I will need to pay the annual fee later this year.
More significantly, I am considering putting my Amex Platinum to the side and getting a Gold Prefered Rewards Charge Card. I think at a flat 1% the membership rewards will make better sense for me. Plus, they reward more than 1% for stuff like travel spending.
Does this sound like a good plan to you?
Should I hold on to my old-style Amex Platinum?
0
Comments
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The GPR card doesnt offer cashback but MR points at the rate of 1pt per £1 (plus bonuses for some things in year 1)
How much 1 MR is worth depends on what you do with them. If you want to convert them to gift cards you are generally looking at 1 MR being 0.5p so as "cashback" equiv its 0.5% not 1%
You can on the otherhand transfer points to Avios or other airline schemes where you can potentially achieve 1MR being worth 2-3p (or more if you are very tactical)0 -
InsideInsurance wrote: »The GPR card doesnt offer cashback but MR points at the rate of 1pt per £1 (plus bonuses for some things in year 1)
How much 1 MR is worth depends on what you do with them. If you want to convert them to gift cards you are generally looking at 1 MR being 0.5p so as "cashback" equiv its 0.5% not 1%
You can on the otherhand transfer points to Avios or other airline schemes where you can potentially achieve 1MR being worth 2-3p (or more if you are very tactical)
Thanks for that II.
I understand it's not a straight 1% cash and depends on what you spend it on.
For me it could easily be Avios, although travelling as a family may not always be easy. At least it gives you the flexibility to use points on shopping rewards at some very good stores.
Is the old platinum credit card worth keeping for the 1.5% cashback?0 -
Personally I've always gone with an MR card instead of cashback as I get better value from them.
Also in my personal circumstances having 1% of my spending reappearing every now and then isnt going to make a material difference to me but getting a "free" first class flight to the USA every now and then feels more material to me even if on a cash basis it may not be vastly different.
NB - "free" because I am aware its not actually free and taxes etc have to be paid still0 -
I had both Gold and Platinum charge cards in the past but not for more than a couple of years. I travelled a lot with the Platinum and got it because of the added insurance benefits when travelling. I think I used the resulting MR to pay for travel on the Amex travel site which I tend to use anyway these days (it's cheaper than booking direct with BA for example, as there is no card fee!).
On a slightly different note, it does seem that Amex is pushing the Gold PR card quite a bit now...0 -
It did for a while, I would argue that its lightened a bit recently.
We are yet to see how AmEx deal with the changes in interbank fees for card transactions though as they are both network and issuer for these cards they have two bites of the cherry so may not be as impacted as say Capital One were.
Given the price of Platinum Card, think its £450/year these days, you really need to be making use of a fair few of their perks like the FHR bonuses at high end hotels etc to really make it worth while having. If you dont then GPR + £50 a year for decent travel insurance is better.0 -
Do Amex still allow a second card with a reduced fee if applicable?
For example I knew someone who had the Platinum Charge Card but also had the BA Premium Plus. The annual fee for the latter was reduced to only £30 which he did all his spending on...0 -
1.5%? I only get 1.25% cash back for the £25 annual fee version.
I just get them for the initial promotion, and then ditch them after a year.
Air Miles are worth less and less, though.
The tax and airport duty are most of the price, so an air mile redemption ticket is still hundreds.0 -
You know the Amex PRG has an annual fee of £140 after the first year, right?0
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I have had the Amex Platinum Cashback Credit Card since 2008 (it pays tierd cashback up to 1.5%) and have been with Amex since 2004.
exactly the same here, so i shall read with interest. i still have CapOne paying cashback to me, i think.. but focus more & more on Amex regardless, and so yes, looking at their alternative cards is an interesting idea. i know people who've gone for the Platinum Chargecard who are adamant that they'd never move away, saying it is a whole stage forward from where we are.0
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