Additional cashback and insurance coverage on high may very well be price one other £600

For a short while, the welcome bonus has an additional bonus on the American Categorical Platinum bank card. However be careful for the huge annual payment.

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What’s the American Categorical Platinum card

The Amex Platinum card is some extent incomes card that comes with extras like free journey insurance coverage and credit to spend each year on eating out (£350 over the subsequent 9 months) and at Harvey Nicholls (£50 that resets in January). Nevertheless it comes with a hefty £650 annual payment.

You’ll earn one Amex Membership Reward level for each £1 you spend with the cardboard. That’s both the equal of 0.5% again if you happen to swap your factors for present card (a price that can be easily beaten.)

You’ll be able to learn extra in regards to the card and it’s advantages in our full Amex Platinum review.

Who can get the welcome supply

Not like with different Amex playing cards, you may be capable of get this bonus if you happen to’ve already obtained an Amex or had one within the final two years.

The one playing cards that can rule you out are the Most well-liked Rewards Gold card and the Rewards card. Right here’s extra on which cards will still make you eligible for this offer.

Normal Amex Platinum welcome supply

Normal: earn 50,000 factors

New cardholders can get 50,000 Amex Reward factors in the event that they spend £6,000 within the first three months of getting the cardboard. That’s price £280 in present vouchers or as Nectar factors. Or you possibly can swap them for various airline factors. I’ve rounded up all Amex Reward redemption options here)

As with different American Categorical playing cards, my tip is to attend for closely elevated welcome presents earlier than making use of.

Card Reward kind Regular bonus
American Categorical Platinum bank card Membership Rewards Factors 50,000 factors

Boosted Amex Platinum welcome supply

This newest new person supply may add as much as £550 of freebies.

Boosted: earn 80,000 bonus factors

This supply, working from 6 November 2024 to 14 January 2025 provides an additional 30,000 factors to the whole obtainable, so that you’ll get 80,000 as a welcome bonus.

To set off the bonus you will have to spend an elevated £10,000, although you’ll have longer than regular to do that, at six months. This spending will earn you one other 10,000 factors and a mixed whole of 90,000 factors, price £450.

Additional £100 cashback / referral

There’s presently additionally £100 cashback obtainable if you happen to go by way of cashback site Quidco, or a decrease £50 by way of TopCashback (it’s at all times price checking each because the charges change). This £100 is assured when you’re accepted for the cardboard and isn’t depending on any spending.

Or, if you happen to get referred by a buddy you’ll get a complete of 100,000 factors as a bonus once you spend the total £10,000 in six months. These further 20,000 factors are price £100 as nicely, which implies you’ll get the identical quantity this manner as Quidco, although your buddy may even get a kickback.

Added on to the bonus and spending factors, both of those provide you with a complete of £550. You’ll be able to’t mix the cashback web site and referral hyperlink.

Boosted welcome supply Requirement Extra supply Provide ends
80,000 Amex factors Spend £10,000 in six months £100 cashback or 20,000 extra factors by way of referral 14 January 2025

The payment and further presents

Nevertheless, when you deduct the £650 payment, you’ll be down £100. That doesn’t sound thrilling, however it means you gained’t be paying for all the extra presents that include the Platinum card.

Over the subsequent 9 months you’ll be capable of declare presents price £400:

Then there are different perks to consider on high. The insurance coverage may very well be price £150 to £200, if no more, whereas the airport lounge passes would price £200 to £400 – although in fact you may not want these.

  • Annual journey insurance coverage
  • Airport lounge entry

So total, the £550 from the welcome deal, £450 from credit score presents and £150 saving on journey insurance coverage would whole £1,150 – so that you’ll nonetheless make a revenue from this boosted supply and different offers, making it price a glance.

Additionally, in some unspecified time in the future, Amex has plans to cease pro-rata refunds of the annual payment if you happen to cancel halfway by the yr. You may get fortunate and set off the presents earlier than this occurs, providing you with some off the payment again. However I’d assume you’ll be paying the total quantity.