Amex Platinum EveryDay Cashback. Confused

movingon

Hi
I applied for this card via a link on the REferrer Board, where the referrer gets a bonus and myself as the Applicant gets £10 bonus cashback as soon as they start to use the card.

There is also a 5% cashback offered up to £100, then the cashback is 0.5% .

I bought a holiday costing more than £2k with the card as my first purchase at the end of April. The £100 cashback for this showed on my "ongoing transactions". I checked with my referrer and was advised that they had received their bonus.

I went on chat and explained my £10 was not showing and was assured it would show on my first statement.

Ive now received my first statement today and my cashback is showing as:
Spend on your Card 12.61
Intro Cashback Offer 90.00
£10 Welcome Bonus 10.00

I went on Chat and queried this and was told that the £10 is for the bonus and the £90 is for my £2K plus spend.
He would not accept that 5% of £2K is £100 . His explanation for the missing £10, from the £100, was
" Since the points data calculate 6 days prior to your statement closing date hence you are seeing the gap."

I dont understand. Am I missing something?

Ben8282

What is the £12.61?
Could it be that cashback is first calculated at the standard 0.5% which is the £12.61 then the difference between the 0.5% rate and the 5% rate is made up for the first £2000 spend in the Intro Cashback offer amount? As the difference would be 4.5% and 4.5% of £2000 is £90 this would add up.

movingon

Well, the holiday cost more than £2K, so the £12.61 relates to 0.5% interest on the whole total plus other subsequent purchases.

Since the holiday was the first thing I purchased, I still dont understand

[Deleted User]

0.5% interest?

I'm pretty sure the interest rate is higher than that

movingon

I mean Cashback Rate

Ben8282

movingon wrote: »

Well, the holiday cost more than £2K, so the £12.61 relates to 0.5% interest on the whole total plus other subsequent purchases.

Since the holiday was the first thing I purchased, I still dont understand

I thought my first reply explained it clearly.
You are entitled to 5% cashback on the first £2000, not 5.5%.
The holiday and other subsequent purchases came to £2552 and the £12.61 represents 0.5% of that amount.
As you have already been paid cashback at the rate of 0.5% on the entire amount, you are due a further 4.5% cashback on the first £2000 to make it up the 5%. which is represented by the £90.
You have had the full 5% on the £2000 (0.5% + 4.5%).
Is it clear now?

eaglesha

I think you can't refunded.

movingon

:eek:

Now I do!

You should work for Amex. Two CSAs did not come up with that explanation .

thank you