By: Kate Anderson | Updated: 8th January, 2019.
Are you looking to maximise the amount you can earn from your spending? The American Express Platinum Cashback Card allows you to do just that, with the added extra of a large up-front bonus, as long as you are happy to pay a £25 annual fee.
If your goal is maximizing your cashback rewards, the American Express Platinum Cashback Credit Card could be your best bet. The downside is that the card carries an annual fee of £25. However, you get 5% cashback over the first three months (up to £125) and 1% cash back after that. And if you spend more than £10,000, you unlock an even higher 1.25% cashback rate.Read full review >
|Representative APR||28.2% APR variable|
|Annual fee||Based on £25|
|Credit limit||Assumed credit limit of £1,200|
|Purchase rate||22.9% variable for purchases|
This card offers you the chance to make some extra money on the side and rewards big spenders. With a large welcome bonus of 5% cashback for the first three months and the ability to earn up to 1.25% (dependent on spending over £10,000), you have the potential to really make your money work for you.
If you are a big spender, there is real potential to make some money from your card. With no limit on cashback earned, and with referral bonuses and complimentary supplementary cards, cardholders could really reap the rewards.
I worked on the front line of personal-finance best buys for over eight years at one of the world’s largest research companies, Nielsen. I reported daily on the developments of the 2008 financial crisis and beyond, keeping up with the changing financial landscape and providing insights to all the major banks in the UK. I know the key players in the market and the tactics behind how they behave. All of which I will apply to highlight the best deals and give honest reviews to help you in your search.
The American Express Platinum Cashback Card could unlock great rewards, but as with any benefits, there is often a trade-off. Here are a few areas to turn your attention to.
If you can accept the annual fee of £25, then the American Express Platinum Cashback Card offers some real rewards. Cashback cards aren’t as readily available as they used to be due to changes in regulations, so it is a real bonus to find a card that has a generous up-front welcome offer plus ongoing cashback. This card also has the added benefit of no limit on the amount of cashback earned in a year, so you have the potential to unlock a decent amount of money.
American Express has some high eligibility requirements, stating that applicants must have no history of bad debt. Additionally, applicants need to be aged 18 or over, UK residents and have a current UK bank or building society account.
The application can be made through the American Express website and will reportedly take less than 10 minutes. You will need to provide your name and address and nationality, alongside some financial information such as your employment status and details of your annual income and outgoings.
If you are looking for a card that will reward you for high spending, then the American Express Platinum Cashback Card is definitely one to consider. With a welcome bonus, ongoing cashback and the potential for higher cashback rewards the more you spend, you could really make your money work for you. Just take into account the £25 annual fee and make sure that is something you are happy with. But if you are clever and take advantage of the friend referral scheme and complimentary supplementary cards, you could really benefit from what the card has to offer.
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