MSE News: Amex to cut cashback rates on best buy credit cards from August

sausage_time

jbrassy said:

sausage_time said:

davidexmachina said:

sausage_time said:

I had the older no fee Platinum credit card

• 0.5% for the first £5,000 of purchases
• 1% on purchases between £5,001 and £10,000
• 1.25% on purchases over £10,000

Moving to 

• 0.5% for the first £10,000 of purchases; and
• 1% on purchases over £10,000

My typical £400 cashback will drop to £310 (more than the £25 move for more recent cards).  Won't be moving because there's nothing better out there.  Just need to maximize offers like Shop Small!

wouldn't it make sense, at the level of cashback you are getting, to switch to the £25 per year version?

Oooh - had not spotted that.  That would be £375 after the fee.  Can you switch (and keep the same card numbers), or is it a new application?

I recently spoke to Amex about this. I don't think switching between the free and £25 card requires a new application. You will only need to do a new application if you switch to a new type of card, e.g. if you want a BA Avios, or Gold card. I think it's quite straightforward and you can keep your old card, but I'm not 100% sure on that. 

Just to confirm I was able to switch to the £25 card today just by calling them.  Same account number, cashback carried forward.