American Express Platinum credit card

Available to those who are:

- Aged 18 or over
- Have a current UK bank or building society account
- Have a permanent UK home address
- Have a household income of at least £20,000

- Please check the full criteria before applying.

What we think

Our review and how this deal compares

When this card was launched in September 2011, American Express claimed it could offer the UK's highest cash back returns over the first 2 years and one of the highest on-going unlimited rates too (excluding selected category offers, e.g. only on petrol/supermarket).

We have to agree - the American Express Platinum credit card has for some time been one of the UK's best cash back credit card deals.

Cash back earnings

While they used to offer a tiered scheme (since adopted by Capital One's World MasterCard), this credit card now comes with a pleasingly simple 1.25% flat rate on all purchases with no limits to the amount that can be earned.

Additionally (away from the anniversary offer which we'll get to in a moment) there are no minimum or maximum spending requirements either, making the deal suitable for any level of monthly or annual credit card spend.

Cash back bonuses

But the American Express Platinum's new deal isn't without an introductory incentive. It offers four times as much cashback (5%) during the first 3 months - up to a maximum earning of £100. To put it another way, new cardholders would have to spend £2,000 in 3 months to hit that limit.

For staying put, existing cardholders now get a yearly 'double cash back' bonus for a month on the anniversary of account opening if they've spent £10,001 or more in the preceding 12-months.

It's a nice attempt at a generous offer for existing customers, but £10,001 a year equates to an average of £833.50 a month - which isn't everyone's typical monthly credit card spend.

This high spend requirement doesn't deflect on the decent flat rate though.

For an example of on-going earnings, in the second year, spending (taking into account the bonus month and deducting the £25 annual fee):

• £1,000 a month would earn £137.50
• £850 a month would earn £113.12
• £500 a month would earn £50.00

Note that, this doesn't reflect the ability to earn up to £100 at the 5% rate for the first 3 months of account opening, which could increase those rewards considerably.

Purchase protection

The cash back offer is the American Express Platinum credit card's biggest selling point but there are definitely a few extras worth a look too.

A purchase protection policy covers items bought with the card against theft or accidental damage for up to 90 days after purchase (some exclusions apply and note this is separate from section 75 protection).

The policy is worth a look, but according to American Express' site you'd be covered if your new coat was missing a button (always a typical moan) or if your new carpet is stained (again, no quibbles there).

American Express also offer a refund protection policy - which is a curious one, but will basically refund the cost of an eligible item if the retailer refuses to within 90 days.

The policy has all the standard exclusions you'd expect regarding refunds and of course, eligible refunds are a statutory right under the Sale of Goods Act 1979.

Services when travelling

American Express is well known for catering to frequent flyers and business travellers, so it's no surprise the American Express Platinum credit card comes as standard with additional services whilst abroad.

Global Assist offers a 24-hour helpline for emergencies anywhere in the world. The service claims to offer help with anything from replacement prescriptions to finding an English-speaking doctor or hurrying urgent messages back home.

American Express will also be on call if customers ever lose their cards, and will hurry them an emergency replacement whilst also being on hand to help with hotel check-ins and emergency cash advances.

Conclusion

American Express have taken a strong standpoint in the credit card market and they remain hard to beat when it comes to offering a little bit extra on rewards and extended cardholder protection and services.

Visit the American Express website to apply online »

Interest rates

Fees and charges

Repayment details

Rewards and discounts

Cardholder services

	Offered	Additional
Online account management		You can log in to the American Express web site and manage your American Express Platinum Cashback credit card account online. > You can monitor cash back earnings online. > Optional paperless statements > SMS & e-mail alerts: Register for "Card Alerts" and choose to receive updates by SMS text message to your mobile phone or e-mail relating to your American Express Platinum Cashback credit card account. Notification information includes: > Account balance > Confirmation of payments > Advance notification of nearing your credit limit > Advance notification of due payments > Notification of missed payments.
Fraud Guarantee		If you're a victim of fraud and have taken reasonable care with your account and PIN, you won't be held responsible for any fraudulent charges incurred.
Fraud Monitoring		Secure System American Express will monitor your account for any suspicious transactions and notify you as soon as possible to check if it's fraudulent or not.
Identity Protection		-
Credit Report Access		-
3D Secure		-
OneTouch Payments		-
Purchase Protection Insurance		Theft or accidental damage for 90 days after the purchase date. > Up to £20,000 in any 365 day period. > Eligible items up to a maximum of £2,500 > £50 excess applies. > Please note exclusions and limitations apply.
Purchase Delivery Insurance		-
Purchase In-Transit Insurance		As part of the 'Purchase Protection Insurance' policy (items must not be left unattended).
Refund Protection Insurance		Failure to obtain a refund of an eligible item from the retailer within 90 days of purchase. > Up to £750 in any 365 day period. > Up to £200 per item. > Brand new items only, costing between £25 and £200. > Please note exclusions and limitations apply.
Comprehensive Travel Insurance		-
Travel Accident Insurance		Cover for serious injury or death during trips paid for with the card. > Up to £150,000 cover. > Please note exclusions and limitations apply. This is not an adequate substitute for a comprehensive travel insurance policy.
Travel Inconvenience Insurance		-
Assistance Abroad		Global Assist 24 hour emergency helpline while traveling. Services include help with lost luggage, finding a lawyer or an English-speaking doctor, interpretation, prescription replacement and urgent message relay back home.
Emergency Card Replacement		Emergency card replacement almost anywhere in the world. American Express can additionally help with hotel check-in and emergency cash advance.