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American Express Platinum Cashback Everyday Card review September 2019
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.
Finder rating: ★★★★★
Doing its job: 4.5/5
In a nutshell:
Up to £100
Up to 56 days
Interest-free each billing period
|Rep. APR||22.9% p.a. (variable)|
|Cashback details||5% after £1 of yearly spend for introductory period of 3 months. 0.5% on £1 to £5000 of yearly spend. 1% after £5001 of yearly spend. Cashback paid Anniversary into Card Account. 5% intro cashback in the first 3 months (max £100). Must spend £3K annually to earn cashback.|
|Incentive||Earn up to £150 additional bonus cashback per calendar year. £20 per friend/family member that successfully applies for an American Express card (Excl. Basic card) and uses Referral Programme. 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.
If you prefer cold hard cash (OK, account credit) to rewards points, this card lets you earn uncapped cashback on all your spending, subject to a minimum spend requirement. For those anticipating a large expenditure, there’s also an appealing enhanced earn-rate when you first take out the card.
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, but you don’t want to carry a balance on it from month to month.
How does this card compare with other Amex rewards cards?
When it comes to repayments, you can make manual repayments online or over the phone (0800 917 8047), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee 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 for the American Express Platinum Cashback Everyday Card
If you’ve been won over by this rewarding card and want to apply, just click on the “Go to Site” button and you’ll be taken to a secure application form. This takes about 15 minutes to complete. Before you apply, check that you meet the eligibility requirements and have the information and documents you’ll need to make the process as straightforward as possible.