Best reward/cash back credit card

D3xt3r5L4b

NoodleDoodleMan said:

"The rates are as they always have been."

Always ?

https://www.americanexpress.com/uk/credit-Cards/all-Cards/?sourcecode=A0000EV0K9&cpid=100330959&dsparms=dc_pcrid_391823819895_kword_amex uk_match_e&gclid=Cj0KCQjwv7L6BRDxARIsAGj-34riv6k15oPGdakUlYa5TB-U_WTwoM3IhPw2ykpuOQyjtcaTs2_n4yMaAnneEALw_wcB&gclsrc=aw.ds

When I opened our Platinum Cashback card in July 2016 the rates were 5% up to £2500 for first three months of membership, and virtually 1.25% on every full pound spent. In the second and consecutive years there was one 2.5% "sweet month" if you had spent more £10,001 + in the previous 12 months.

I can't remember what the virtually restriction covered.

The present cashback rate on warehouse purchase is 0.5% - maybe similar ?

Your link keeps going to a German page. Maybe you are using an old cached page that’s no longer applicable.

The “current” rates have been this way since at least 2016. 

NoodleDoodleMan

Not sure why it reverts to the German page.

As said, the rates I received on joining in July 2016 were different (superior) from what has followed.

Going by MSE's most recent guide the Platinum Cashback card will reward £175 on a £10 grand annual spend after the £25 fee is taken into account.

https://www.moneysavingexpert.com/credit-cards/best-credit-card-rewards/#amexeveryday

Or is my arithmetic unsound ?

D3xt3r5L4b

NoodleDoodleMan said:

Not sure why it reverts to the German page.

As said, the rates I received on joining in July 2016 were different (superior) from what has followed.

Going by MSE's most recent guide the Platinum Cashback card will reward £175 on a £10 grand annual spend after the £25 fee is taken into account.

https://www.moneysavingexpert.com/credit-cards/best-credit-card-rewards/#amexeveryday

Or is my arithmetic unsound ?

The MSE cashback return given encompasses the 5% extra “welcome bonus”.

Year 2 and thereafter will be the same as I already posted above. 

VXman

2e0arr said:

which country did you return from and what card did you have there please ?

Hong Kong. I had a HSBC signature card. HK is a nightmare with cards. They mostly have large fees but good cashback deals but they all vary in what they do best. To maximize potential rewards you need about 6-8 different cards. And people do!

jbrassy

Just want to settle this debate over whether to get the Amex platinum cashback card with the £25 annual fee or whether to get the free one.

Basically, if you spend less than £5000 a year, you should get the free one. If you spend between £5000-£10,000, it doesn't matter which one you get. If you spend over £10,000 a year, you should get the one with the £25 fee.

All the calculations are in the following spreadsheet:
https://docs.google.com/spreadsheets/d/1rZouflfUDeghKt9At9mwezrbCjm_jL4KCsksAP8cHS0/edit?usp=sharing

jimroy

If you're an Amazon Prime customer and shop a lot across Amazon's websites you get 1.5% cash back using their Platinum Mastercard. 0.25% elsewhere.

I earned £100 in cash back in six months using it, including the £30 opening account sweetener. You get it as a gift card in multiples of ten within 48 hours of your monthly statement onto your Amazon account. 

NoodleDoodleMan

A little bit of investigation, and MSE has confirmed that the Amex Platinum Cashback CC offer from which I benefitted as a new member, joining in July 2016, was reduced to an inferior deal across a £10K 12 month spend in the subsequent year(s).

The 2.5% anniversary month bonus casualty was well enough flagged up.

https://www.moneysavingexpert.com/news/2017/11/amex-phases-in-cashback-cuts-to-loyal-platinum-customers/

crumpet_man

jbrassy said:

Just want to settle this debate over whether to get the Amex platinum cashback card with the £25 annual fee or whether to get the free one.

Basically, if you spend less than £5000 a year, you should get the free one. If you spend between £5000-£10,000, it doesn't matter which one you get. If you spend over £10,000 a year, you should get the one with the £25 fee.

All the calculations are in the following spreadsheet:
https://docs.google.com/spreadsheets/d/1rZouflfUDeghKt9At9mwezrbCjm_jL4KCsksAP8cHS0/edit?usp=sharing

Your calculations are correct but I would argue that depending on when the fee is paid (at beginning of year or is deducted from cashback at end of year?) that it is better to go for the fee free card otherwise you have to spend £25 up front and do not get it back until the cashback is paid.

D3xt3r5L4b

crumpet_man said:

jbrassy said:

Just want to settle this debate over whether to get the Amex platinum cashback card with the £25 annual fee or whether to get the free one.

Basically, if you spend less than £5000 a year, you should get the free one. If you spend between £5000-£10,000, it doesn't matter which one you get. If you spend over £10,000 a year, you should get the one with the £25 fee.

All the calculations are in the following spreadsheet:
https://docs.google.com/spreadsheets/d/1rZouflfUDeghKt9At9mwezrbCjm_jL4KCsksAP8cHS0/edit?usp=sharing

Your calculations are correct but I would argue that depending on when the fee is paid (at beginning of year or is deducted from cashback at end of year?) that it is better to go for the fee free card otherwise you have to spend £25 up front and do not get it back until the cashback is paid.

The fee is due on the 1 year (12 month) anniversary of the card for the following year. 

Cashback is paid on the 13th month.

VXman

gobeye said:

The RBS / NatWest reward card is probably your next best bet for more traditional cards, 0.25% on general spend, 1% on supermarket shop. There are some non mainstream offerings about, if you want to know more PM me.

Very odd this one. I applied and got a Reward current account and then applied for the Reward credit card.
I filled out the hypothetical 'am I eligible?' form and it refused me. Reasons - It said you must be UK resident, Be over 18 and have earn over £10,000 a year. I was clearly in that bracket and in addition had no outgoings (rent/mortgage, loans, school fees etc)