Dear All
After the initial 5% period it says we get 1.5% cashback if we spend over 10000 on the card annually, with lower rates below that. So if we spend 10001 pounds on the card annually do we get 1.5% on the whole 10001 or just on the 1 and the lower tiered rates on the rest?
Hope you catch my drift!
Cheers
Hi Matthew,
I've got this card, and as I see it yes, once you've spent 10,000+ then you get the 1.5% on everything.
HTH
Thanks Sammy - had better get spending then!
You get 1.5% on everything over the 10000. In your example, it's the 1 that gets the 1.5%.
Any advance on two different answers!!!!!
Thanks both! None the wiser then! However knowing CC companies I'm sure JohalaReewi you are right.
An annual rebate on the aggregate amount of all transactions (other than the exclusions stated above and any introductory offer) will be payable to you by us and calculated at the following rates, 0.5% for aggregate amounts up to 3,500; and 1% for aggregate amounts from 3,501 to 10,000; and 1.5% for aggregate amounts in excess of 10,001. No rebate payment will be made if, in the 12 months preceding your Card Anniversary Date, the amount of rebate earned totals less than 12.from their website
97trophy - thanks, I have read it but didn't really understand it. I think I do now, bad news I think.
Hi there,
Has anyone else had an extremely low credit limit set on their new Amex Platinum cashback card? I am sure this is so you can't spend too much when you are within the 5% 3 month period. I have another Amex credit card with a 10K limit, earn 100K+ per annum and yet have had the limit on my new card set at 700. I can't remember the last time I had a card with such a low limit. I've requested it is raised, even in exchange for lowering my other amex card credit limit, but been declined.
What a swizz... it means I can only possible get a max of 35 cashback in any one month.
Any views?
Richard.
PS - my forst time on the forum too, so hope i'm in line with the rules.
I think it is quite normal for cc companies to give you very low limits on second cards with them. This is my first Amex and they gave me over 12K.
Simple - clear your bill during the month after each purchase instead of waiting for your bill - thereby restting your 700 every few days
QuQuote:
An annual rebate on the aggregate amount of all transactions (other than the exclusions stated above and any introductory offer) will be payable to you by us and calculated at the following rates, 0.5% for aggregate amounts up to 3,500; and 1% for aggregate amounts from 3,501 to 10,000; and 1.5% for aggregate amounts in excess of 10,001. No rebate payment will be made if, in the 12 months preceding your Card Anniversary Date, the amount of rebate earned totals less than 12.
from their website
I'm not sure what side you're posting that for, excess being underlined is confusing me there.
Reading it without any bold/underline effects I would take the word aggregate (ie total) as being the key thing there. That would mean just one cashback rate is applied to your entire spend, the level of it being determined by your spending level.
ie spend 10,000.99 and you get 100, spend 10,001.01 and you get 150 (that 2p VAT cut on your packet of chocolate biscuits could be costly)
I was convinced that the cashback was staggered, a bit like tax say. But agree with Richard019 that the word aggregate suggests the total sum.
That said, I think it's just a little bad wording and the cashback is banded into the 3 levels and the different rates will be applied to the different bands.
Amex aren't daft ;)
I must say I'm still none the wiser - I think a call to AMEX is the only way to resolve this!
Having had a platinum card (and the blue before it) for some time I can say that I am right because I have received Amex cashback before!
Ragingbass is correct about aggregate meaning the total sum but you have to read that in conjunction with the 'in excess' bit so basically, it is the aggregate (total sum) in excess (above) 10,000.
Thanks Johala - I believe you.
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