American Express Platinum Credit Card
There are many different American Express credit card offers on the market at the moment, namely the American Express Blue and the small business credit card. With many of the current American Express offers the main emphasis of the Platinum credit card is rewards, namely cash back. With this offer the essence is the same, you can earn up to 2% cash back on everything that you spend.
However, the cash back levels are graded on how much you spend over a 12 month period. For amounts that are less than £3,000 you will earn 0.5% cash back, for spend amounts between £3,001 and £7,500 you will earn 1% cash back. For the top tier cash back of 2% you will have to spend in excess of £7,500 per year. In an average family household were the credit card is being used for household purchases, shopping, insurance, fuel, travel and clothing this figure should be achievable. However, try not to use this figure as an excuse to earn more cash, only spend amounts in excess of £7,500 will be liable for the 2% cash back.
For example, if you spend £10,000 in any given year you will earn 0.5% cash back up to £3,000 (£15), 1% cash back from £3,000 to £7,500 (£45) and 2% on amounts over £7,500 (£50). The total cash back for an annual £10,000 spend will be £15 + £45 + £50 = £110
There is also an introductory balance transfer offer, however at 4.9% for 6 months there are many other offers that offer much better value. As mentioned above the main focus of this credit card is the cash back option.
Current American Express Platinum credit card offers
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- 4.9% balance transfers for 6 months
- For spending up to £3,000 per annum receive 0.5% cash back
- For spending levels between £3,001 and £7,500 per annum receive 1% cash back
- For spending levels in excess of £7,500 receive 2% cash back
- Free purchase protection for any items lost or stolen
- Free refund protection
- Repayment protection
- Online fraud guarantee
- 24 hour customer service
- Typical apr 14.9% variable
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