American Express Platinum credit card is a market leader

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American Express Platinum credit card is a market leader

Wed 4th Oct 2006

The cashback rate on the American Express Platinum credit card makes it a market leader, the bank has declared.

Customers receive cashback of three per cent for the first three months. Thereafter, a cashback rate of up to 1.5 per cent is offered when using the American Express Platinum credit card.

A minimum income of £20,000 per annum is required in order to apply for the card and the standard interest rate stands at a typical rate of 14.9 per cent.

The director of lending at American Express, Tom Allder, remarked: "American Express first launched a cashback credit card in 1998 and eight years on, remains committed to rewarding card members for their spending and offering highly competitive rewards to attract new customers."

Cashback credit cards offer the customer a percentage of the amount they spend using their card. The online price comparison company, uSwitch, say that the best cashback credit card on the market is the Egg Money card.

Compared to the Platinum card's offering of £12 cashback on a monthly spend of £200, the Egg Money card provides cashback of £24.

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