Credit Card Review: The Platinum Cashback Credit Card From American Express UK

May 6, 2019

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Here at TPG UK, we’re huge advocates of maximising your travel experiences by earning and redeeming points.

But, we also recognise that depending on your situation, you may be happy with a no-nonsense cash discount on your purchases rather than diving into the world of loyalty points. Fortunately, American Express UK has a number of cashback card options available. One of those is the Platinum Cashback Credit Card.

Who Is This Card For?

This card is marketed toward people looking for a simple cashback card, combined with a low annual fee. It’s also for those that are happy to forego some of the additional benefits provided by points-earning American Express cards.

Welcome Bonus and Annual Fee

As this card does not earn any points, there is no welcome bonus if you are accepted for this card. Instead, you’ll receive 5% cashback on all purchases (up to £125 in total) made during your first three months after you activate the card. You would need to spend £2,500 in that period to receive the full £125 cashback.

There’s a modest £25 annual fee, so provided you’re able to spend the full £2,500 in the first three months you’ll be coming out £100 in front.

Representative example: 27.3% APR with a purchase rate of 22.2% per annum and an assumed credit limit of 1,200.


This is a simple card with a simple cashback earning structure. After the first three months of card membership (where you’ll earn the 5% cashback discussed above), you’ll then earn:

  • 1% cashback for the first £10,000 spent on purchases; and
  • 1.25% cashback after that first £10,000, with no limits.

However, as of 4 August 2021, this earn rate is changing to:

  • 0.75% cashback for the first £10,000 spent on purchases; and
  • 1.25% cashback after that first £10,000, with no limits.

So, say you spend the £2,500 in the first three months and then a further £20,000 over the other six months of your cardmembership year, you would receive £350 in total cash-back (being £125 + £100 + £125).

That’s not a bad return for a £25 annual fee card. But like other Amex cards, you’ll be hit with a 2.99% foreign transaction fee on international purchases, which will be higher than the value of the cashback you will receive (outside of the welcome bonus 5% amount). Keep this fee in mind if you if you are using this for foreign purchases.


As you’re earning straight cashback rather than loyalty points, you’ll receive the cashback annually on your card anniversary date. There’s no hassle in trying to redeem any benefit — it’s automatically done for you.


This card doesn’t come with as many perks as some of the more expensive (but more lucrative) points-earning American Express cards, but there are still some benefits you may find useful:

  • You can opt to have free supplementary cards for any close family and friends in order to maximise your cashback. But remember that you, as the primary cardholder, will still be responsible for paying the balance each month.
  • There’s travel accident insurance for up to £150,000 for public transport when you use the card to purchase that transport.
  • Global Assist 24/7 assistance when you are travelling abroad.
  • Purchase and refund protection for eligible items (conditions apply).

Which Cards Compete With This Card?

This card is similar to the Platinum Cashback Everyday Credit Card from American Express UK, which also has no annual fee but lower cashback amounts. If you are comparing these two cards but will spend less than £5,000 on the card in a year, the Everyday card may be a better option.

Bottom Line

While there is no valuable reward points earned, the 5% cashback for the first three months is a compelling benefit for anyone in the market for a no-nonsense cashback card with a low annual fee, assuming you can maximise this welcome offer.

You can apply for this card here.

Featured image by The Points Guy

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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