Credit Card Profile: American Express Platinum MoneyBack Credit Card
December 21, 2009
Wouldn’t it be great if you could get the spending power of a platinum card but still enjoy low annual fees? How would feel if a credit card company sweetened the deal even more by offering cash back on all your purchases? I thought you’d like that. Fortunately, there is a credit card company offering such a “dream deal” — American Express.
Below you’ll learn more about the American Express Platinum MoneyBack credit card — a low fee, cash back platinum card that might just be the deal you’ve been looking for.
Type of Credit Card: Rewards credit card
Interest Rates*: The American Express Platinum MoneyBack credit card has a standard interest rate of 19.99%. You can avoid paying interest by paying off your balance in full and taking advantage of up to 44 interest free days offered on purchases. There are no special introductory offers on interest rates for balance transfers or purchases with this card.
Annual Fee*: There is a $99 annual fee for this credit card, which is low by platinum card standards. You can receive additional cards on your account without having to pay any additional annual fees.
Rewards / Extras*: This rewards card focuses on the MoneyBack programme. Basically, you’ll earn cash back on all of your purchases made with your American Express Platinum MoneyBack credit card.
For the first three months, you’ll earn 5% cash back on purchases (up to a maximum $300 cash back — based on $6000 in purchases). After you reach that limit, you’ll continue to earn cash back at a rate of 1% on purchases, with no cap on your cash back. Some purchases, such as American Express traveller’s cheques, are not eligible for the MoneyBack programme. Your cash back will be calculated and credited to your statement monthly.
In addition to the MoneyBack programme, the American Express Platinum MoneyBack card also offers you 24/7 platinum service and purchase protection if your purchases are damaged or stolen within 90 days of purchase.
Additional Details*: To be eligible for the American Express Platinum MoneyBack credit card, you must have an annual income of at least $40,000.
* Interest rates, annual fees, and MoneyBack programme details were taken from the most accurate data available at the time of writing. All rates and fees are subject to change from the issuing bank, and their inclusion here in no way serves as a guarantee of rates. Please review rates and terms with the card issuer at the time of application.
