AMEX 0.5% cashback claim is not accurate

pjread

MACKEM99 said:

Are we not talking about a few pence 

Depends on the transaction count.  Presume you've seen Superman III

joonee

It could be a few pence but as a worst case scenario consider the following.
I buy an item twice a day for a year. It costs £1.99 and my total annual spend is £1452.70. 
The AMEX cashback is zero because Cashback is only awarded on multiples of £2 transactions..
The 0.5% cashback on a more 'honest' card is £7.26

SamDude

joonee said:

It could be a few pence but as a worst case scenario consider the following.
I buy an item twice a day for a year. It costs £1.99 and my total annual spend is £1452.70. 
The AMEX cashback is zero because Cashback is only awarded on multiples of £2 transactions..
The 0.5% cashback on a more 'honest' card is £7.26

Sorry to be pedantic, but the cashback is also zero because the total annual spend is less than £3000 

joonee

Good point Sam - another reason to consider another card which offers 0.5% Cashback

35har1old

joonee said:

It could be a few pence but as a worst case scenario consider the following.
I buy an item twice a day for a year. It costs £1.99 and my total annual spend is £1452.70. 
The AMEX cashback is zero because Cashback is only awarded on multiples of £2 transactions..
The 0.5% cashback on a more 'honest' card is £7.26

Surely all that changes once your have broken through £10000 point and all transactions have to be updated to 1% for the year.

Are is it only 1% on the amount over £10001 

WillPS

35har1old said:

joonee said:

It could be a few pence but as a worst case scenario consider the following.
I buy an item twice a day for a year. It costs £1.99 and my total annual spend is £1452.70. 
The AMEX cashback is zero because Cashback is only awarded on multiples of £2 transactions..
The 0.5% cashback on a more 'honest' card is £7.26

Surely all that changes once your have broken through £10000 point and all transactions have to be updated to 1% for the year.

Are is it only 1% on the amount over £10001 

The latter.

Not sure what this thread has to do with Stoozing.