With Christmas on our doorstep, a lot of people may be reaching for their credit cards this week to pay for last minute presents, food and treats. Most people don’t want to resort to using their credit cards, in fear of getting into dangerously high debt. With this in mind, comparison websites such as moneysupermarket.com have been championing the American Express Platinum card as the best cashback credit card on the market right now.
With the Platinum Card, you will receive a massive 5% introductory cashback rate for the first three months. With a maximum of a £2,000 spend; this alone puts £100 back in your pocket. This is fantastic news for people planning on some larger purchases in the festive period, such as huge Christmas grocery shops at the supermarket.
In the long-term, the American Express Platinum Card cashback depends on the amount you spend on the card. You will get up to 1.5% on a tiered system, which gains you 0.5% on the first £3,500 per year, 1% from £3,500 up to £10,000. Then you will get 1.5% on everything else.
On top of all this, there is even more good news. For the first 6 months there is a 0% interest rate, but be warned the typical APR shoots up to 19.9% thereafter. However, you will receive up to 56 days interest free on new purchases if you manage to pay your statement in full and on time every month.