Spotlight: American Express Platinum Cashback card
American Express (AMEX) has reduced the amount its Platinum Cashback card pays – it has been the market-leader for some time, so how does it fare now?
If you clear your credit card balance each month, a card that rewards you for spending is well worth considering. The American Express Platinum Cashback card pays 5 per cent in the first three months up to a maximum spend – this means you could earn £100 just for using your card.
The rate of cashback then drops: 0.5 per cent is paid on the next £3,500, 1 per cent on spending between £3,500 and £7,500, and 1.25 per cent above £7,000. It is this higher rate of cashback that has been cut – the card used to pay a top rate of 1.5 per cent, although it didn't kick in until you had spent more than £10,000. Despite this, the card remains the market-leader.
The Egg Money World-card is also worth a look. It pays a flat rate of 1 per cent cashback, but the maximum you can earn is capped at £200 a year. There is also a £1 monthly fee.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies