American Express Platinum Cash Back Program

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Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Tue Jan 11, 2005 10:57 pm
Post subject: Amex Platinum Cash Back Card

Joe Conte
Date: 9/5/2000 1:26 pm CDT

Hi!

I have been using an Amex Card that pays cash back on an annual basis, on total annual purchases.

I noticed each month the statement has a Cash Back Summary, and after $8,000 in annual purchases, it still showed .5% rebate per month.

I called Amex, and they informed me the rebate is based on total monthly purchases, not annual. So I read the fine print, which sounds to me like annual total purchases. Listed as follows:

"Cash back percentage levels are as follows: .25% for $0 to $2,000, .5% for $2,000 to $5,000, and 1.5% in excess of $5,000. If you carry a balance , you will receive an additional .5% rebate for that billing period."

So I called them back, and they explained that what shows on your monthly statement reflects only the Cash back percentage for that month. Starting from Zero, not from your total purchases for the year.

Seems confusing to me... why would the statement show a cash back reward, for the period to date, of $29.73, with a year to date spending eligible for cash Rebate of $8702.46?

The operators at Amex seemed as confused as I was, er am. I hate to spend 20-30K with them only to find they switched from an annual basis to a monthly basis for tallying the rebate.

Anyone have long term experience with them?

Highest regards,

joe

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Joe Conte
Date: 9/9/2000 7:21 am CDT

Hi!

Thanks for the reply. That is a relief, I got the card on your sites recomendation. I really didn't think they would change the policy like that. So it is good to hear confirmation from others it works as stated.

Great site, great board! Keep up the good work!

Highest Regards,

joe

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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!

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