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.
American Express Platinum Cashback Everyday Card review 2020
An accessible and easy-to-use card offering cashback for everyday spending.
If you’re looking for a credit card that rewards your everday spending, this one could be a handy way of earning cashback.
You say: ★★★★★We say: ★★★★★
Doing its job: 4.5/5
In a nutshell:
per £1 spent
Up to £100
|Rep. APR||22.2% (variable)|
|Cashback details||New Cardmember offer: Get 5% cashback on your purchases (up to £100) for the first 3 months of Cardmembership.|
|Incentive||Earn £20 per friend/family member that successfully applies for an American Express card (Excl. Basic card) through the Referral Programme, up to a maximum of £150 per year. The cashback rebate is not payable in respect of any month in which the minimum payment is not received by the due date.|
|Additional Rewards Info||Refund Protection (subject to enrolment) - provides refunds to cardmembers in the event of any retailer, online or offline, refusing to refund the value of any goods taken back within 90 days of them being purchased, maximum £200, 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 Offers where cardmembers can choose offers from selected retailers to obtain discounts or cashback.|
|Purchases interest-free period (days)||56|
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.
For those who prefer account credit to reward points, the American Express Platinum Cashback Everyday Card offers uncapped earnings subject to a relatively low yearly minimum-spend requirement.
There’s also an enhanced earn-rate when you first take out the card, which may make this an appealing choice to those about to make a big purchase.
If you anticipate carrying a balance from month-to-month, however, what you’ll pay in interest will likely outweigh any cashback earnings. But if you always clear your balance in full each month (you can set up a direct debit for this), then you’ll enjoy up to 56 days of 0% interest each billing cycle (this doesn’t apply to cash advances).
Take up the mantle of Amex evangelist and you also stand to earn a nice little cashback boost for referring a friend.
Need more persuading? The Platinum Cashback Everyday Card also comes with travel accident insurance (subject to enrolment) and access to Amex Offers and Amex Experiences (formerly Invites).
Ultimately, it’s a sweetener-laden card for those who prefer cold hard cash (OK, account credit) to rewards points, but you don’t want to carry a balance on it from month to month. If you’re anticipating a large expenditure – say booking a holiday, for example – this could get you a little something back for yourself at the same time as giving you the protection that comes as standard with credit card purchases.
Pros and cons
- Get 5% intro cashback in the first 3 months
- No annual fee
- Competitive purchase rate
- An expensive option if you carry a balance from month to month
- Intro offer is limited to £100
How does it compare with other Amex rewards deals?
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|
The American Express Platinum Cashback credit card is a great everyday option for those wanting to earn something back on their purchases. While there are cashback cards with better earn rates, the combination of no annual fees, a decent purchase rate and bonus incentives make this a solid choice for those who prefer cashback to reward points.
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 Everyday 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.
Frequently asked questions
Do I get free travel insurance?
Subject to enrolment, you'll receive up to £150,000 in travel accident insurance provided you use your card to buy your tickets.
What is the limit on cashback?
You can get 5% cashback for the first three months, up to a maximum of £100. After three months, you can receive up to 1% cashback with no upper limit, provided you spend at least £5,000 over the year. You can also get free supplementary cards for friends and family, and then earn cashback on any purchases they make using their cards. Finally, you can enjoy bonus cashback by referring your friends to American Express.
How do I know if I'm eligible?
To be eligible for the Amex Platinum Everyday Cashback card, you'll need to be a British resident over 18, with a UK bank account, and not an existing customer. You can confirm your eligibility using American Express Eligibility Checker, which will not affect your credit rating.
Do I get access to American Express Experiences?
Yes! Through the Experiences programme, you can get access to ticket sales to popular music, film and theatre events before they go on general sale.