American Express: ‘Earn as you spend on credit cards’- Defaqto

Commenting onDefaqto’s cashback research released yesterday,Tom Allder, Vice President UK Lending, American Express, said: “We’ve been offering Cashback for coming up to ten years now and have seen cashback competitors come and go over this time. With a market-leading 3 month introductory rate of 5% on your first £4,000 of spending and the best on-going cashback rate for high spending Cardmembers, American Express offers an unbeatable deal for UK consumers. Moreover, whether you are shopping on the high-street, online or overseas on a family holiday, Cardmembers are not restricted on where they can earn cashback on their spending.”

According to American Express research, 43% of credit card holders are armed with plastic that offers no rewards at all. That’s nearly 20 million UK consumers using unrewarding credit cards1.

The American Express Platinum Credit Card offers new applicants MoneyBack at 5% for the first three months. The 5% introductory offer is available on up to £4,000 of spending. After the three month period, MoneyBack is calculated at the current tiered rates which are aggregated to include the initial three month spend:

0.5% for aggregate annual spend amounts up to £3,500
1% for aggregate annual spend amounts from £3,501 to £10,000
1.5% for aggregate annual spend amounts in excess of £10,000
The standard APR for purchases for newCardmembers will be typical 18.9% APR variable.