Amex Credit Card Cashback

howie43

I have held an Amex Platinum credit card since July 2025 but because it is refused in so many places and because my cashback rate is now much lower than on opening I no longer want to retain the card. However, I am owed a significant sum as cashback, which is not paid until the anniversary of account opening. If I wait until then I will be into a new accounts year and will have to pay £25 upfront for another year. What is the best way to deal with this in order to avoid unnecessary expense and get maximum benefit from the cashback?

QrizB

It's not entirely clear to me which Amex card you currently have, paying cashback but having a fee involved.

The Amex "Platinum Cashback Everyday Card" doesn't have an annual fee, for example.

howie43

It's not called an Everyday Card - just a Platinum Cashback Credit Card and it was free for the first year but £25 p.a. thereafter. I don't even know whether it exists any longer.

HillStreetBlues

QrizB said:

It's not entirely clear to me which Amex card you currently have, aying cashback but having a fee involved.

The Amex "Platinum Cashback Everyday Card" doesn't have an annual fee, for example.

With the £25 it will be this one https://www.americanexpress.com/en-gb/credit-cards/platinum-cashback-credit-card/

QrizB

howie43 said:

It's not called an Everyday Card - just a Platinum Cashback Credit Card and it was free for the first year but £25 p.a. thereafter. I don't even know whether it exists any longer.

OK, so it's this one?

You should be able to call Amex Customer Support (they're usually very helpful) and ask to switch your card from you current one to the "Everyday" fee-free one. You should be able to keep your accrued cashback but then won't have a fee to pay in July 2026.

Idid somethine similar with my Gold Rewards card and switched to the blue Rewards card so I could keep my Rewards points without paying the fee.

howie43

Thank you QrizB, that looks like the one. I shall certainly try what you suggest.

lr1277

If you want a new credit card from another provider, ensure your salary can support your current Amex limit plus the limit offered by another card. If not you could always ask Amex to reduce your current limit and then wait weeks probably till your new limit is shown on your credit file, then apply for a new credit card.

howie43

Thank you lr1277 but I don't want or need another card. It's just that I don't want to pay for another year of the Amex card in order just to keep my current cashback. The rules are such that this is what will happen.

[Deleted User]

It was already difficult to find shops that accept Amex in the EU, now I would suspect it's going to get even worse due to recent events. What I do is use Amex BA card (the blue free one) and collect Avios points, and convert them to Necter points. You can then spend them to buy items. Yes it is limited where you can use them, but you can still get some good things. It makes sense for me as I do not fly or spend much (about £500 a month), it may not be for everyone.

I am in the process of switching to the Barclaycard Avios card as I can see Amex becoming an issue if things get worse. If I was a UK retailer, I would be thinking about gettng rid of Amex. Although these days a lot of shops have a combined service. 

howie43

Thank you Theleak250, yes, I have made up my mind to get rid of Amex. I'm just trying to do it in the most effective way possible.

mta999

Just to say that I was in the situation you are in and my cashback was actually paid about three or four weeks before the end of the anniversary year I can't remember exactly but it was certainly in time for me to cancel the card before the anniversary