American Express Platinum Cashback Confusion

balsingh

I apologise in advance if this has already been discussed but after lots of hunting around on this site and calling Amex, I couldnt get a straight answer.

I am thinking about applying for the Amex Platinum card with the tiered cashback:

. 0.5% for aggregate amounts up to £3,000; and
. 1% for aggregate amounts from £3,001 to £7,500; and
. 2% for aggregate amounts in excess of £7,501

What I want to clarify is if I spend 10k during the year, will I get 2% of 10k, or will be 0.5% for the 1st 3k, 1% for amounts 3k - 7.5k, and 2% for the remainder??

Any help appreciated as people are giving me different answers!!

Clariman

Good question. You get 0.5% for the first 3k, then 1% for the next ... etc. You do not get 2% for the whole lot .... Oh how I wish you did !

Clariman

balsingh

Now I'm confused. IF it was a straight 2% then I woudl have gone for it even though it might not be that widely accepted.

Now that you mention the way the cashback works, I'm being pulled towards the Conran card as I know it will be accepted everywhere and the cashback is reasonable!!

Clariman

The Amex platinum benefits depend on how much you spend on a credit card. I can't remember the break point but of you spend a certain amount per year then it is worth it for the 2%. Otherwise you'd be better with a straight 1% card if there are any around at the moment. It is easy enough to work out the break point in a spreadsheet.

HTH
Clariman

balsingh

The break point is 9k. The only issue I have is that as Amex is not as widely accepted as Visa, I will probably end up using my 2nd card and therefore I might not reach the 9k. Thats whats making me think that I shoudl go for an alternative one.

Do Amex have any benefits that really stand out otherwise??

The_Toff

balsingh wrote:

The break point is 9k. The only issue I have is that as Amex is not as widely accepted as Visa, I will probably end up using my 2nd card and therefore I might not reach the 9k. Thats whats making me think that I shoudl go for an alternative one.

Do Amex have any benefits that really stand out otherwise??

If a place doesn't accept American Express, I don't go there. Period.

I get rewards for using my Amex, and I make sure I use it. I look after Amex, and Amex look after me.

Saying that though, there have only been a handful of places i've wanted to use in the last year of so that haven't accepted American Express. They don't get my business.

If a shop is worth shopping in, they will accept American Express.

pin

The_Toff wrote:

If a place doesn't accept American Express, I don't go there. Period.

I get rewards for using my Amex, and I make sure I use it. I look after Amex, and Amex look after me.

Saying that though, there have only been a handful of places i've wanted to use in the last year of so that haven't accepted American Express. They don't get my business.

If a shop is worth shopping in, they will accept American Express.

That is total tosh. Many places don't accept Amex because of the high merchant fees they ask for. That normally means many small places can't afford to accept Amex.

charlotte3

pin wrote:

That is total tosh. Many places don't accept Amex because of the high merchant fees they ask for. That normally means many small places can't afford to accept Amex.

I have to agree pin. I have been a member with Amex for many years now and until recently even some of the bigger names ie. boots wouldn't take the card.

I collect the points for international flights with Virgin (you can transfer the points for Virgin atlantic miles) and use mainly this card for all my credit card transactions and only occasionally find a retailer who wont accept it. When I do, I think good luck to them against these big corporations! They make enough money anyway!

Isn't this whole website about the small man taking a stand against the system!

telly-addict

In my experience more and more retailers are accepting Amex as a means of payment. Probably only 10-20% of my monthly credit card spend now has to go on a secondary credit card.

Most supermarkets now take Amex - Waitrose being one exception. M&S now also take Amex. The list is definitely growing.

Once my first year expires with Amex Blue (and I get the cashback), I will be taking out an Amex Platinum. You can't upgrade apparently - you have to make a fresh application!

The_Toff

telly-addict wrote:

In my experience more and more retailers are accepting Amex as a means of payment. Probably only 10-20% of my monthly credit card spend now has to go on a secondary credit card.

Most supermarkets now take Amex - Waitrose being one exception. M&S now also take Amex. The list is definitely growing.

Once my first year expires with Amex Blue (and I get the cashback), I will be taking out an Amex Platinum. You can't upgrade apparently - you have to make a fresh application!

Waitrose do take Amex. I shop there all the time, and pay with Amex.

And you don't need to wat for a year of having Blue to get a platinum. You can apply for a Platinum at any time, and just transfer the cashback from the Blue to Platinum.

Anyway, the platinum credit card is ugly, and looks like it's been designed by a small child. Stick with the Blue for looks.

jimclark1967

The_Toff wrote:

Anyway, the platinum credit card is ugly, and looks like it's been designed by a small child. Stick with the Blue for looks.

And there was me thinking this was a moneysaving site rather than a fashion mag :rolleyes: