The market-leading, fee-free Everyday cashback card from Amex is back.
American Express has relaunched its market-leading 5% Platinum Cashback Everyday card which pays out up to £100 in the first three months of opening.
If up to £2,000 is spent on the Platinum Cashback Everyday card during this three-month period customers will earn the maximum cashback.
Once the initial bonus period ends the cashback is tiered depending how much you spend on the card.
The deal
The American Express Platinum Cashback Everyday card, which was first launched last October, is available to new customers and offers cashback rates of between 0.5% and 1.25% after the initial three months.
[SPOTLIGHT]Those spending between £3,500 and £7.500 on the card will receive the lowest amount of 0.5% cashback, while this rises to 1% for spending of between £3,500 and £7.500. When the sum hits more than £7,500 the cashback increases to 1.25%.
For example, if someone spent £5,000 in a year they'd earn £88, but if this increased to £10,000 the cashback would be £178.
There’s no annual fee for taking out the card, cashback is paid annually and the APR is set at 19.9%, which is slightly lower than most other cards like this.
But it’s only available to new customers and not everyone will be approved for it. Therefore it’s worth considering the whole of the market before applying and our comparison tables give a full view of what’s on offer.
Here I’ve listed the top five cashback cards around.
|
Card |
Cashback |
APR |
Notes |
|
5% in the first three months (up to £100). |
19.9% |
Up to 1.25% cashback after initial three-month period |
|
|
2% cashback on top five purchases and 0.5% on everything else. |
24.8% |
6% cashback on top five purchases in the first three months and anniversary bonus of 4%. Annual fee of £24. |
|
|
1% cashback at supermarkets, 2% at department stores and 3% at petrol stations and on National Rail and TFL travel. |
22.8% |
Annual fee of £24 – unless you’re a current account customer. |
|
|
0.5% cashback up to £6,000, 1% from £6,000 to £10,000 and 1.25% for more than £10,000. |
19.9% |
No annual fee and no fees on purchases overseas. |
|
|
£5 cashback every month when you spend £250 in Sainsbury’s and £250 elsewhere. |
17.9% |
Six months 0% interest on new purchases. |
Cashback cards
These credit cards are suitable for people who are looking for a way to be rewarded for spending. But they only work if you are paying the card off each month, and not running into debt. One way to organise the payments is by setting up a direct debit to clear the card each month.