Approval for any credit card will depend on your status. The representative APRs shown represent 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.
American Express® Platinum Cashback Credit Card review 2022
Earn a generous introductory cashback rate on every pound spent on purchases and no rewards cap on the American Express® Platinum Cashback Credit Card.
With a low annual fee by platinum card standards and travel insurance thrown in (subject to enrolment), this card could be worth your while if you're likely to use it a lot for day-to-day spending.
- Superior introductory offer and one of the best earn-rates on the market.
- Annual fee of £25.
Earn 1.25p
per £1 spent
Up to £125
Intro cashback
30.7%
Representative APR
£25
Yearly account fee
Details
Issuer | American Express |
---|---|
Network | Amex |
Annual/monthly fees | £25 per annum |
Purchases | 25.3% |
Purchases interest-free period | Up to 56 days |
Cash advances | 32.4% |
Minimum credit limit | £700 |
Maximum credit limit | Not specified |
Additional cards available | 1 |
Incentive | New cardmember offer: Get 5% cashback on your purchases (up to £125) for the first three months of Cardmembership. Terms apply. Spend £0 to £10,000 and receive 0.75% cashback on all purchases. Spend over £10,000 and receive 1.25% cashback on purchases. |
Additional Rewards Info | Refund Protection (90 days to return, receive max £200 per item, max £750 per annum). Global Assist - 24/7 help available when travelling outside the UK. Access to tickets for must-see music, theatre and film events, often before they go on sale to the general public with American Express Experiences. Eligible for American Express Connect where cardmembers can choose offers from selected retailers to obtain discounts or cashback. |
Potential costs | ★★★★★ |
Doing its job | ★★★★★ |
Extras | ★★★★★ |
Overall Finder rating | ★★★★★ |

Review by
Chris Lilly
chris.lilly@finder.comChris 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
If you prefer cashback to points, this card has a decent return on all purchases, with no spending cap on rewards. Additionally, if you spend enough on your American Express Platinum Cashback Card, you’ll access a higher rate of cashback.
The standard rate on purchases isn’t anything to write home about, but if you clear your balance in full each month, you’ll benefit from up to 56 days of 0% interest on purchases each billing cycle – meaning you could avoid interest altogether. If you do end up carrying a balance from month to month, then it’s likely that what you’ll pay in interest will outweigh the rewards you’ll earn.
Ultimately, it’s big spenders who always clear their balance in full each month (you can set up a direct debit to do this) who will stand to benefit the most from this card.
Pros and cons
Pros
- Customers report excellent customer service when dealing with American Express
- Earn cashback on day-to-day spending
- Up to £125 introductory bonus cashback
Cons
- £25 annual account fee
- Applicants with low credit scores are unlikely to be eligible
How does it compare with other Amex rewards deals?
Repayment options
You can make manual repayments through American Express's app, by logging in to your online banking or over the phone (0800 917 8047). 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 |
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How to apply
First, you can use Finder's eligibility checker to find out if you'd be likely to get approved for the American Express® Platinum Cashback Credit Card. This won't impact your credit score. If it's good news, you can then proceed to American Express's online application, which takes 10-15 minutes to complete.
The verdict
If you’re looking for an affordable premium credit card, the American Express Platinum Cashback card offers a generous intro bonus and a range of other perks for a relatively small annual fee. Of course, the more you spend, the more you’ll get in cashback, which makes this card a better choice for those who do a lot of spending using their credit card.
But if you’re certain to pay off your balance in full every month, you should be able to get good value out of the card’s impressive earn rate, even when you take the annual fee into account.
Frequently asked questions
What credit limit will I get with the American Express® Platinum Cashback Credit Card?
If American Express is able to offer you this deal, the offer will specify a personalised credit limit based on American Express's assessment of your situation. The minimum limit offered on this card is £700 and American Express does not specify a maximum. Once you've had the card for a while and shown American Express that you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the American Express® Platinum Cashback Credit Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the American Express® Platinum Cashback Credit Card 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 32.4% (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 American Express® Platinum Cashback Credit Card abroad?
Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£172.28), it'll cost you around £5.15 in fees.
Can I use the American Express Platinum Cashback Card with Addison Lee?
Yes, you can use your Amex Platinum card to book a private car or vehicle, and can also use it with CityFleet, Radio Taxis and Checker Cars. You can book a car up to three months in advance by using the Addison Lee app.
Finder credit card ratings
Our experts score cashback credit cards to determine their value against similar products on the market. We look at a number of important factors, like welcome bonuses, introductory and ongoing earn-rates, any limits or restrictions to earning cashback, plus the potential costs involved with running the card both in the short and longer term.
You can read more about our scoring criteria on our credit card methodology page.