Amex launches £25 cashback boost on spending for new customers

Smiling young man holding credit card in hand and using cell phone at home

(Image credit: Getty Images)

published 26 February 2024

American Express (Amex) has temporarily boosted the spending limit for new customers taking out its Platinum credit card.

New credit card customers will be able to earn 5% cashback on the Amex Platinum card when they spend up to £125.

This is £25 more than the usual £100 spending limit, plus there is no cap on the number of times you can use this offer. But you need to act fast as this American Express deal is only around for a limited time of five months.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Amex Gold cardholders will also be pleased to know that the previous 10% dining cashback has been upped to 20%, which means that you can now earn unlimited cashback for a limited three-month period at thousands of dining spots across the UK.

Dave Edwards, vice president at American Express, says: “Recent research in our latest Amex Trendex Report showed that 45% of UK adults are factoring in personal finance when making resolutions for the year ahead, so we know many of us are embracing the early months to look at ways we can get more from our spending.”

If you’re looking to maximise your credit card rewards, find out which American Express credit card would be the best pick for you.

Here’s everything you need to know about how you can earn free £25 cashback and 20% off dining.

American Express Platinum Cashback Everyday Credit Card welcome offer

When can I get the Amex £25 bonus cashback?

The £25 cashback boost on the Amex Platinum Cashback Everyday Credit Card is available for five months. But you need to apply for the card between 21 February 2024 and 9 April 2024 to receive the bonus.

Once this offer ends, cardholders will earn the usual 1% cashback when they spend over £10,000.

How to get the 5% cashback?

To qualify for the 5% cashback, new Platinum cardholders need to spend up to £125 in a single transaction.

This is an upgrade on the 5% introductory cashback as the maximum spending limit is up by £25, plus the deal runs for an extended five-month period instead of three.

Previously, you could only earn up to £25 total cashback, but there is no limit on how much cashback you can earn with this one, giving you time to maximise your savings on spending.

If you want to claim the 5% cashback on your Platinum credit card, you’ll need to download the Amex app (both iOS and Android), or create an online account on its website.

Once you’ve done all of this, you’ll receive your cashback as a statement credit on your account’s anniversary. It will show at the bottom of your statement, in Manage Your Card Account and on the app.

You won’t earn cashback on balance transfers, cash advances, Amex travellers’ cheques, foreign exchange transactions, interest, overspending on your credit card, charges for returned payments, late payments, referral charges and Amex finance charges.

Am I eligible for the 5% cashback?

This offer is only available for new cardholders, so if you’ve not owned a personal Amex card within the previous 24 months, you can get this welcome offer.

American Express Gold Credit Card offer

When can I get the Amex 20% cashback?

You can take advantage of the 20% cashback on the Amex Gold Credit Card for a limited time of three months – up until 19 May 2024.

How to get the 20% cashback?

This is a great deal as it increases the cashback earnings for Gold cardholders by 10% and you can choose from restaurants such as Honest Burgers, Gaucho, Gordon Ramsey and Sticks 'n' Sushi.

You will need to save the offer to your Amex card via the Amex app (both iOS and Android), or online on its website.

Visit any of the eligible restaurants over the next three months to be eligible for the cashback offer. There is no limit on how much cashback you can earn or how many times you can use the offer on a particular restaurant.

The offer will then be visible and you can see how much cashback you earn when you spend at any of the participating restaurants.

Am I eligible for the 20% cashback?

All American Express Gold Credit Card holders are eligible for this 20% cashback when they dine in any of the participating restaurants.

If you own other Amex cards such as Platinum, Amex Cashback and Amex Cashback Everyday and select business cards, you can earn 10% cashback when you eat out.

Have a look at which other credit cards offer cashback if you’re just browsing through your options.

Oojal has a background in consumer journalism and is interested in helping people make the most of their money. Oojal has an MA in international journalism from Cardiff University, and before joining MoneyWeek, she worked for Look After My Bills, a personal finance website, where she covered guides on household bills and money-saving deals. Her bylines can be found on Newsquest, Voice Wales, DIVA and Sony Music, and she has explored subjects ranging from cost of living to politics and LGBTQIA+ issues. Outside of work, Oojal enjoys travelling, going to the movies and learning Spanish with a little green owl.