The American Express Platinum Cashback Card Exclusive lets you spread the cost of your purchases and pays you cashback to boot.
American Express has brought back its 0% purchase and cashback credit card.
The American Express Platinum Cashback Card Exclusive offers 16 months interest-free on purchases as well as 1.25% unlimited cashback for every £1 spent.
It also offers double cashback - totalling 2.5% - on anything you buy for one month every year, as long as you have spent £10,001 using the card in the previous 12 months.
The card was pulled earlier this year but has been relaunched. It comes with a £25 annual fee and has a representative APR of 18.7%.
You can apply for the American Express Platinum Cashback Card Exclusive via selected partners including lovemoney.com, but you’ll need to have a household income of at least £20,000 and a decent credit history to be successful.
How it compares
It’s hard to find a credit card which allows you to earn cashback and offers interest-free spending for a decent period. So the American Express Platinum Cashback Card Exclusive is pretty unique.
However the Nationwide Select Credit Card and the Santander 123 Credit Card also offer the ability to spread the cost of purchases and earn cashback.
[SPOTLIGHT]The Nationwide Select Credit Card offers 15 months interest-free spending and allows you to earn 0.5% unlimited cashback on all sterling purchases. On top of that it also provides 26 months 0% on balance transfers, which attracts a 2.4% transfer fee. The card also comes with a relatively low representative APR of 15.9% and is fee-free. However, you will need to hold a Nationwide current account to be eligible for the card.
The Santander 123 Credit Card on the other hand is open to everyone. It offers a market leading 18 months interest-free on purchases and also pays cashback of up to 3% on certain spends. You’ll get 1% cashback at supermarkets, 2% at department stores and 3% at petrol stations, National Rail and TFL travel. There is a £24 annual fee, but you can get this waived for the first year if you have or open a Santander 123 Current Account. The representative APR on the card is 16.5%.
Compare 0% purchase credit cards
Earning more cashback
If you think you can pay off your balance in full each month and can forego a 0% purchase offer, you can earn a better rate of cashback with the market leading cashback credit cards.
The American Express Platinum Cashback Credit Card, for example, pays 5% cashback on purchases up to £2,500 during the first three months, giving you the chance to earn up to £125. After this introductory period the card pays a flat rate of 1.25% cashback. It attracts a £25 annual fee and comes with a representative APR of 18.7%.
A fee-free alternative is on offer with the American Express Cashback Everyday Credit Card. It also pays 5% cashback in your first three months but on purchases up to £2,000, which means you could earn up to £100. Thereafter you can earn between 0.5% and 1.25% cashback, depending on how much you spend. The representative APR on this card is 19.9%.
Read: The best cashback credit cards for more.
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The best money transfer credit cards
The best credit cards to use on your travels