American Express Platinum CashBack Credit Card


Fancy earning a little money every time you spend? The American Express Platinum Cashback Everyday Credit Card lets you do just that. Hit the shops and get ongoing cashback of up to 1%, and with no annual card fee either.

There aren’t as many cashback cards as there used to be, and the rewards aren’t so generous either. This makes the American Express Platinum Cashback Everyday Credit Card a rare beacon of light.

If you expect to clear your card balance every month, and don’t need a 0% deal on balance transfers or new purchases, then switch your focus to cashback or rewards points instead. American Express Platinum Cashback Everyday Credit Card entices with cashback of 5% on all purchases in the first three months, up to a maximum £100. Thereafter you get ongoing cashback of up to 1%, depending on how much you spend each year. All this and no annual fee.


Cashback rewards are hard to come by these days, but if that’s what you’re looking for, the American Express Cashback Everyday Credit Card may be a good bet. The standard cashback yield is 0.5%, but for those that spend more than £10,000, that bumps up to 1%. New cardholders also get a bonus of 5% cashback over the first three months, which maxes out at £100. Its sister card offers a bigger welcome bonus and higher cashback, but the Everyday Credit Card has the advantage of no fee.


  • 5% cashback for first 3 months (up to £100, subject to eligibility)
  • 0.5% cashback after first 3 months (if you spend £1 to £10,000)
  • 1% cashback after first 3 months with spending above £10,000 
  • Note that you must spend at least £3,000 to earn any cashback
  • No annual fee
  • No cap on cashback earned
  • Travel accident insurance (subject to enrolment) and global assist services
  • Access to special offers from American Express offers

What I like about the American Express Platinum Cashback Everyday Credit Card

American Express Platinum Cashback Everyday Credit Card rewards you every time you flash your plastic. The more you spend, the more you earn, and if you splash out more than £10,000 in a year the cashback climbs to 1%.

  • Introductory bonus – American Express wants your business, and it is willing to pay for it. It greets new customers with a welcome bonus of 5% cashback on all purchases for the first three months, up to a maximum £100. To get the maximum amount, you have to spend £2,000.
  • Ongoing cashback – The cashback continues to flow after the first three months, but at a slower pace. You get 0.5% cashback on all purchases from £1 up to £10,000, measured over a 12 month period. Once your spending hits £10,001 this climbs to 1% on all further spending. You must spend at least £3,000 a year to qualify for cashback, otherwise you will get nothing at all, not even that welcome bonus.
  • No annual fee – This card comes with no annual fee. This means that you pay nothing for annual membership. Zero. Zilch. Did I say there was no fee? There is no fee. Got that?
  • Other benefits – As with most cards, you also get up to 56 days interest-free credit on purchases, provided you pay your balance in full and on time each month. Bear in mind that cash advances and balance and money transfers are charged differently. Minimum credit limit is £700, while the maximum is subject to status.
  • Worth knowing – You cannot claim the 5% introductory offer if you currently have any personal American Express cards, or have done so in the past 24 months. Cashback is paid by crediting your account on the annual anniversary of taking out your card, based on spending over the preceding 12 months. You must have spent a minimum £3,000 in that time to get any cashback at all. You do not earn cashback on balance transfers, cash advances, American Express Travellers Cheques, foreign exchange or any spending above your credit limit. And you won’t get cashback in any month where you do not make the minimum payment by the due date.

What could be improved

American Express Platinum Cashback Everyday Credit Card is one of the most eye-catching cashback cards on the UK market today, but that doesn’t make it perfect, because nothing is. So here are a few gripes.

  • Short welcome bonus – It’s a shame that initial 5% cashback deal only lasts three months and is limited to a maximum £100. Now if it was 5% cashback on an unlimited spend – or for six or 12 months – well, then we would be talking!
  • Low ongoing cashback – If you just spend a few quid here and there, you will never see a penny in cashback. You need to spend a minimum £3,000 a year, that’s £250 a month. Do that and you get 0.5% on every £1 you spend. Spend more than £10,000 and then you get 1%, but only on spending above that level. It would have been nice if that stretched to all your spending, but hey, that’s life.
  • High APR on purchases – Most credit cards charge an APR of 18.9% on new purchases, American Express charges 24.7%. That’s not a worry if you clear your card in full every month but if you don’t, the interest could wipe out those juicy cashback benefits.
  • Overseas usage – You don’t generate cash back on foreign exchange transactions, so not so great for those planning to spend big on their hols. Also, you pay a foreign usage charge of 2.99%. It’s worth packing a separate credit card that waives overseas fees next time you travel.

How does this American Express offer stack up?

Cashback cards ain’t what they used to be. Providers blame EU rules introduced in 2015, which capped the fees retailers pay to process card transactions. So full marks to American Express for giving it a go. I’ve reviewed its rivals, and can’t see a more enticing deal right now. Most offer a maximum 0.5% cashback, sometimes with a monthly fee on top. None of them comes near to offering this initial 5% cashback rate, which effectively gives you £100 of free money. What’s not to like?

The American Express Platinum Cashback Everyday Credit Card credit score

To avoid wasting everybody’s time (most importantly, your own!), make sure you fulfill the criteria before making an application. You must be aged at least 18, with a current UK bank or building society account, and a permanent UK home address.

If you have had credit problems at any point, you can forget it. American Express only wants people who have “no history of bad debt”. I hope you are squeaky clean on that front.

How to apply

As with every credit card application, you should assemble all the information you are likely to need first.

Card issuers will want to know your name, address and personal details like gender, date of birth and nationality. Also, keep your passport or driving licence number handy to verify your identity, and a bank statement or utility bill as proof of address.

You must also confirm your employment status, and supply details of your yearly income and outgoings.

Is the American Express Platinum Cashback Everyday Credit Card a good choice for you?

The answer depends on your priorities. If you have existing credit card debt then you shift that to a 0% balance transfer card and pay it down. If you want to avoid interest on your spending for a year or two, look for a 0% purchases card.

But if you want cashback this is leading the field, especially if you spend more than £10,000 a year. Just make sure you can clear your balance every month, otherwise that 24.7% APR will sting. And don’t be tempted to buy stuff you don’t need just to hit your cashback targets. 

If this card isn’t for you, check out our top-rated cashback credit cards in the UK to find the best alternative for you.

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