American Express Discussion


What’s the cashback rate?

I’ve always found with cashback cards, the low rate ends up putting me off (appreciate it accumulates), but in my personal situation, the air miles are more important.

And yes, I appreciate how “third world problems” this sounds - The decision between cashback and air miles.

I must ask my butler to look into this…


It’s 1% for all purchases up to £300 I think. There’s no chance of me spending £30,000 in a year so that’s not too much trouble for me.

2% for travel, which is where I find it most useful. A couple of train bookings/hotel bookings a month which I can claim back through work really adds up

3% for all dining, which again adds up nicely.


Ah OK! That sounds pretty decent.

It wouldn’t fit my lifestyle right now (what with the Chef and Chauffeur working over time), but I can see it will be good for some!


I think that’s one of the real positives of AMEX, that there are subtle differences between the cards to suit different people

Note: I don’t work for AmEx or Costco


I just cannot be bothered. Personally I wish I had enough money just to call a travel agent, insurance broker etc and just settle the bill as necessary. As I don’t I do a lot of these functions myself and hopefully save money. I draw the line at cashback schemes and loyalty cards.

I do have the basic Amex card which is charge card with no spending limit and no fees. I use it for online purchases (because of excellent Amex fraud detection and app) and as a get out of Dodge card if I need an hotel room or airline ticket unexpectedly.


But I mean… You already have an Amex card? There is nothing particularly taxing about getting an Amex card which works in the exact same way… But ends up giving you something back.

Like you, I do all of the heavy lifting myself (travelling/booking etc) - But it’s just nice to know that after a year or two, you’ve saved yourself thousands of pounds (potentially), just by doing what you would have done anyway.


Is there a fee free cashback card with Amex?


I’m fully with @Nick on this one, and can’t see what you’d need to “be bothered” with?

Maybe miles/rewards sound too complicated? Not sure if any annual fee / remembering to cancel it if after the initial period is over?

Just get an AmEx Platinum Everyday Cashback and keep spending as usual: no fee. No award points to figure out how best to convert them. Just hard cold cash. (And incidentally, if you use my referral link you’d get some extra cash on account opening)

(Dan Mullen) #49

Yes, the link I posted further up. The American Express Platinum Cashback Everyday credit card.



Thanks I’ll take a look.


There’s the Platinum CashBack, and also the BA card if you are into the Air Miles.


That one has a fee. The “Platinum Cashback Everyday” has no fee (that’s my one annoyance with AmEx: Those names!)


Oops - I did mean the one that you and @danmullen posted… Promise! :smile:


I’m with you on that!

Costco TrueEarnings American Express Card is what flashes up with every purchase.

I mean, what does that even mean? Are all other earnings false earnings?


Does this type of card churning have a significantly negative effect on credit history (compared to keeping a credit card open for several years)?

Also, do you lose section 75 protection on purchases with that card when the account is closed?


It hasn’t seemed to.

I should probably state that I still have my First Direct current account and credit card sitting dormant to counter any new account openings.

The Amex searches disappear after a year, so I only ever have 1 search on there at a time.

As for section 75, I wouldn’t know I’m afraid.

What examples are you thinking of where this could make a difference?


I wasn’t really thinking about searches on credit file. My assumption is having a long term, active history with a credit card has a significantly positive impact on your credit file (compared to cancelling and opening a new credit card every year). Just an assumption though.

As for section 75, I don’t know either. Just wondering if you would still be able to make a section 75 claim if an issue with a purchase arises after closing the card. The scenario seems more likely if closing cards every year.


Ah, that’s why I keep my First Direct account and credit card open - I believe they look at an average for your credit card history, so worst case scenario is it’ll be 5 years, which doesn’t seem to have a negative impact.

As for the 75 bit, I’d be interested to know, but don’t buy big ticket items that often to worry too much.


That is the widely accepted wisdom.

However, if say you have one account that you’ve had for 10 years, and a credit card that you’ve had for a few month, your average account age is somewhere in the 5 year range, so still quite decent.

As always a balance has to be struck: If you are constantly switching all your banks and credit cards, then I think a potential lender will have their doubts when looking at your file, as you look very unstable. But if you are switching one of them every now and again, while everything else is stable, then I think that looks like you know what you are doing…

As for section 75: not a lawyer, but as far as I understand it shouldn’t matter. You bought the thing on credit, and that makes the lender liable: Whether you have since cancelled the agreement and/or paid off your debt doesn’t make that liability go away.

Here is what MSE has to say:

If you’ve paid for something on a card but since cancelled the card you may still have Section 75 protection.

The Financial Ombudsman Service told us that assuming you meet all other criteria you should be covered, as the fact you’ve cancelled the card doesn’t matter. The original payment method is what’s key, ie, you paid on a credit card.

If you have any doubt, put in a claim as the worst that can happen is your claim is rejected.