An Overview of the Amex Platinum Cashback Card

This is my 2019 updated review of the American Express Platinum Cashback card (Amex Platinum Cashback Card Review).

The American Express Platinum Cashback card is issued directly by American Express.

You can hold up to 2 charge cards and 2 credit cards which have been issued by American Express at any one time, although this doesn’t include Amex cards which are provided by the likes of Lloyds, TSB or Barclays. I’d recommend checking your credit rating before applying for a new card. Generally you should have a rating in excess of 700+. Click here for a free Equifax credit report and score. It’s free for the first 30 days and then £14.95 per month afterwards (make sure you cancel in the first 30 days!).

It comes with a £25 annual fee however this is offset by the £25 bonus when you spend £1 on the card.

The Sign-Up Bonus of the Amex Platinum Cashback Card

The American Express Platinum Cashback card offers 5% cashback on all spending up to £2,500 in the first 3 months and a further £25 when you spend just £1 on the card. As such the annual fee of £25 can be more than offset by this perk.

What are the Other Benefits of the Amex Cashback Card?

The ongoing cashback offerings are good. These are structured as follows:

• 1% back if you spend under £10,000 from month-4 to month-12 (and annually thereafter)
• 1.25% back on your spend over £10,000 from month-4 to month-12 (and annually thereafter)

Anything Else I Should Know About the Amex Platinum Cashback Card?

American Express no longer has a minimum income requirement for the card.

Recent changes to American Express rules now mean that to qualify for the sign up bonus you cannot have held a personal American Express credit card in the last 24 months – learn more about the sign up bonus restrictions and our suggested strategy here.

Summary of the American Express Platinum Cashback Card

For those that will be spending more than £2,500 in the first 3 months, the 5% cashback (equating to £125)  and £25 when you spend just £1 on the card will more than offset the £25 annual cost of the card. The ongoing cashback rates are also competitive. For those that spend a significant amount on their Amex card for work, the 1.25% (once spending more than £10,000) will also help those pounds go further. I currently use this card for a large amount of my business expenses.

I hope you’ve found the Amex Platinum Cashback card review useful, and as always please comment if you have any queries. Please do share this post if you think friends would be interested.

A link to the application form for the American Express Platinum Cashback credit card, offering a further £25 when you spend £1, can be found here (please scroll down to the correct version).

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