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Change amex cards?
seatbeltnoob
Posts: 1,413 Forumite
in Credit cards
Hello
I realised I took out the wrong amex card. I got the amex platinum cashback card when I should have taken the amex platinum everyday cashback card.
The latter has no annual fee, but slightly less cashback but more suited for lower spenders. The former has better cashback - if you spend more. I spend about £500 on amex a month which would get me £6000 at the end of the year. So the £25 annual fee will make it not worthwhile for a low spender like me.
Are Amex OK with changing cards midway through?
I realised I took out the wrong amex card. I got the amex platinum cashback card when I should have taken the amex platinum everyday cashback card.
The latter has no annual fee, but slightly less cashback but more suited for lower spenders. The former has better cashback - if you spend more. I spend about £500 on amex a month which would get me £6000 at the end of the year. So the £25 annual fee will make it not worthwhile for a low spender like me.
Are Amex OK with changing cards midway through?
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Comments
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Sounds like a good deal if you're still going to get £5975 cashback at the end of the year?0
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The problem won't be changing the card, I'm sure they will.seatbeltnoob said:Hello
I realised I took out the wrong amex card. I got the amex platinum cashback card when I should have taken the amex platinum everyday cashback card.
The latter has no annual fee, but slightly less cashback but more suited for lower spenders. The former has better cashback - if you spend more. I spend about £500 on amex a month which would get me £6000 at the end of the year. So the £25 annual fee will make it not worthwhile for a low spender like me.
Are Amex OK with changing cards midway through?
Your problem will be the £25 annual fee is added at the start to your first statement so you may as well use it for the year and change before the anniversary.0 -
change it just after the anniversary as chashback is added to your account on the anniversary, if you change before you most likely lose it + as you already had one Amex card you won't get another 5% cashback for first 3 moths again on the fee free everyday platinum card. Next year fee might be charged but after you swap cards, Amex will refund every unused month so will cost you £ 2.50 and will give tim full year accelerated cashback for this year...0
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Looks like a switch might be needed from August 2021 when rates change. Have to get the calculator out again.0
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Assuming you're eligible for the introductory bonus, that could get you £125 in the first 3 months, as opposed to £100 for the everyday card. So, for the first year at least, you're better off sticking with the card you now have.
And I do hope you got the benefit of another £35 cashback from getting someone to refer you!
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