Amazon Platinum Mastercard review 2020

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If a significant chunk of your paycheck goes Amazon's way each month, then this points-earning loyalty card could make your money go a little further.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 21.94% (variable) p.a., your representative rate is 21.9% APR (variable).

Earn 1 point

per £1.33 spent with select partners

Earn 1 point

per £4 spent elsewhere

Up to 2,000 points

Intro bonus

21.9%

Representative APR

Details

IssuerNewDay Ltd
NetworkMastercard
Annual/monthly fees£0
Balance transfers21.94%
Balance transfer fee5%
Purchases0% for 3 months reverting to 21.94%
Purchases interest-free periodUp to 56 days
Cash advances31.94%
Min credit limit£500
Max credit limitNot specified
IncentiveEarn 1.5 Amazon reward points per £2 spent at Amazon.co.uk. Earn 0.5 Amazon reward point per £2 spent elsewhere. Whenever your Amazon reward points reach 1,000 a £10 Amazon.co.uk Gift Card will be automatically linked to your Amazon.co.uk account. For Amazon Prime members - earn 3 Amazon reward points per £2 spent at Amazon.co.uk and earn 0.5 Amazon Reward point per £2 spent elsewhere.

Expert review

Chris Lilly

Review by


Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.

Expert review

Amazon has teamed up with the established card issuer New Day (the brand behind a number of UK retail-affiliated cards) to offer this straightforward but rewarding deal. In fact, ever ahead of the curve, Amazon started offering a credit card long before fellow US behemoth Apple jumped on the plastic bandwagon.

What makes this card more appealing than many other retail credit cards, is the simple fact that Amazon is, um, doing rather well. To get the best out of any branded loyalty card, you need to be a very regular customer, which, in Amazon’s case, is pretty much everybody.

The easy mistake with rewards credit cards, however, is not paying off your balance in full each month. Sounds obvious right? But if you don’t, you’ll pay more in interest than you earn in rewards. If you need to spread the cost of a large expenditure, there are plenty of more suitable cards available.

Buried in the small-print for this card is the minor detail that if you’re signed-up for Prime, you’ll earn points on Amazon spending at double the rate (each Amazon Reward Point is worth a penny) – a fairly significant perk given the way that Prime membership seems to be fast-becoming the norm.

The Amazon Platinum Mastercard is issued on the Mastercard network so it's accepted at nearly 53 million merchants across more than 210 countries and territories.

Pros and cons

Pros

  • Earn Amazon Reward Points on purchases though Amazon or elsewhere.
  • Amazon gift card for new cardholders.
  • Increased points earn-rate for Amazon Prime customers.
  • 0% on purchases for introductory period.
  • No annual fee.

Cons

  • Foreign transaction fees.
  • Balance transfer fee.

How does it compare?

Amazon's card

Data indicated here is updated daily
Name Product Max. intro bonus Earn-rate with brand Default earn-rate Annual/monthly fees Rep. APR Link Incentive Representative example
Amazon Platinum Mastercard
2,000 points
1 point per £1.33 spent
1 point per £4 spent
£0
21.9% (variable)
More Info
Earn 1.5 Amazon reward points per £2 spent at Amazon.co.uk. Earn 0.5 Amazon reward point per £2 spent elsewhere. Whenever your Amazon reward points reach 1,000 a £10 Amazon.co.uk Gift Card will be automatically linked to your Amazon.co.uk account. For Amazon Prime members - earn 3 Amazon reward points per £2 spent at Amazon.co.uk and earn 0.5 Amazon Reward point per £2 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 21.94% (variable) p.a., your representative rate is 21.9% APR (variable).
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Other popular reward cards

Table: sorted by representative APR, promoted deals first
Data indicated here is updated daily
Name Product Max. intro bonus Earn-rate with brand Default earn-rate Annual/monthly fees Rep. APR Link Incentive Representative example
M&S Bank Transfer Plus Mastercard
500 points
1 point per £1 spent
1 point per £5 spent
£0
19.9% (variable)
Check eligibility
More Info
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
M&S Bank Reward Plus Mastercard
2,500 points
2 points per £1 spent
1 point per £5 spent
£0
19.9% (variable)
Check eligibility
More Info
Double points on spend in M&S for first 12 months (2 points per £1). Then earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
M&S Bank Shopping Plus Mastercard
500 points
1 point per £1 spent
1 point per £5 spent
£0
19.9% (variable)
Check eligibility
More Info
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
American Express Platinum Cashback Everyday Card
£100
1% cashback
1% cashback
£0
22.2% (variable)
Go to site
More Info
New Cardmember offer: Get 5% cashback on your purchases (up to £100) for the first 3 months of Cardmembership.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a., your representative rate is 22.2% APR (variable).
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Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

Repayment options

You can make manual repayments through NewDay Ltd's app, by logging in to your online banking or over the phone . Alternatively you may wish to set up a direct debit.

A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result.

You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

How to apply

If you’ve been won over by this rewarding card and want to apply, just visit Amazon to complete the secure application form, which takes about 15 minutes.

Before you apply, you’ll be prompted to check your eligibility – this involves a “soft search” of your credit file – meaning it can’t hurt your credit score. You’ll get a clear indication as to whether or not you’d be approved, after which you can submit a full application. As with any credit card, the final application involves a “hard” credit search, which has a small (and usually short-lived) negative effect on your credit score.

With “Instant spend”, provided you qualify, you’ll be able to start using your card at Amazon straightaway – in other words you won’t need to wait for the physical card to arrive in the post.

Frequently asked questions

What credit limit will I get with the Amazon Platinum Mastercard?

If NewDay Ltd is able to offer you this deal, the offer will specify a personalised credit limit based on NewDay Ltd's assessment of your situation. The minimum limit offered on this card is £500 and NewDay Ltd does not specify a maximum. Once you've had the card for a while and shown NewDay Ltd that you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the Amazon Platinum Mastercard?

Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (withdrawing cash at an ATM, getting cashback at the till, spending at a casino, buying currency, etc.) often incur steep fees and/or higher rates of interest.

The cash advance fee on the Amazon Platinum Mastercard is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250, and you'll incur a fee of £7.50.

The interest rate on this part of your balance will be 31.94%, which is 46% more than the standard purchases rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

How much does it cost to use the Amazon Platinum Mastercard abroad?

Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£181.54), it'll cost you around £4.99.

What is the minimum payment on the Amazon Platinum Mastercard?

Each month you must pay at least 1% of your balance at that point or £5.00 – whichever of the two figures is greater. So if you had, say, £450.00 outstanding, you'd pay £5.00, and if you had £2,000.00 outstanding, you'd pay £20.00.

Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money which can lead to persistent debt.

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4 Comments

  1. Default Gravatar
    Lee
    May 4, 2019

    On a salary of 55.000 pa
    1. Can I balance transfer
    2. What would be my limit available
    3. Partner earns 36.000 pa can be a name partner on the card.
    Thanks

    • Avatarfinder Customer Care
      nikkiangco
      May 5, 2019

      Hi Lee,

      Thanks for getting in touch! It’s good to know that you’re looking to do a balance transfer. Your credit limit will be given after you have applied and been approved of the credit card. As a friendly reminder, read the eligibility criteria, features, and details of the card, as well as the Product Disclosure Statement and Terms and Conditions of the card before making a decision and consider whether the product is right for you.

      Hope this helps!

      Best,
      Nikki

  2. Default Gravatar
    Sally
    March 27, 2019

    Will I be charged for a cash advance from cash dispensers?

    • Avatarfinder Customer Care
      nikkiangco
      March 28, 2019

      Hi Sally,

      Thanks for reaching out! Yes, there is a 31.94% cash advance fee when you use this card. Hope this helps!

      Best,
      Nikki

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