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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:
Up to £100
per £1 spent
|Rep. APR||22.9% (variable)|
|Cashback details||5% on £1 to £2000 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 £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.
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 want to apply for the Amex Platinum Cashback Everyday card, you can click the “Go to Site” button and you’ll be taken to a secure application form. You’ll need to provide personal and financial details, and the application should take about 15 minutes. Make sure you meet the American Express eligibility criteria before applying.
Frequently asked questions
Do I get free travel insurance?
What is the limit on cashback?
How do I know if I’m eligible?
Do I get access to American Express Experiences?