Is the Amex Platinum Cashback Everyday Worth It?
With a £25 annual fee and a variable APR of 28.2%, the Amex Platinum Cashback Everyday card demands a second look. Could its 5% rewards rate be the game-changer for your wallet?
The Quick Version
The American Express Platinum Cashback Everyday card offers a tempting 5% cashback rate but comes with a £25 annual fee. The APR is a hefty 28.2%, which could bite if you carry a balance. The sign-up bonus is appealing, making it a contender for savvy spenders.
American Express Platinum Cashback Everyday
American Express Platinum Cashback Everyday card details
American Express Platinum Cashback Everyday
The Fine Print
Expect a 28.2% variable APR — steep if you don't pay off monthly. The annual fee is £25, but the 5% cashback rewards rate can offset this for frequent spenders. There's a generous sign-up bonus of £153. Note: foreign transactions come with fees, so it's not ideal for globetrotters.
What's Actually Good
If cashback is your game, this card scores. The initial 5% cashback rate is hard to beat, especially if you spend regularly. Plus, the £153 sign-up bonus sweetens the deal if you meet the spending threshold within the first three months.
The Catch
The annual fee of £25 isn't massive, but it's worth noting when many competitors offer no annual fee options. The real kicker, though, is the 28.2% APR. If you don't clear your balance monthly, interest charges will quickly erode your cashback gains.
Who Should Apply
Ideal for those with a Good to Excellent credit score who can leverage the 5% cashback without carrying a balance. If you're a frequent spender who pays off monthly, this card could be lucrative. Globe-trotters might want to look elsewhere due to foreign transaction fees.
The Bottom Line
The Amex Platinum Cashback Everyday card is best for disciplined spenders who can exploit its benefits without falling victim to its high APR. For those who travel often or carry balances, other cards might offer better perks. For more cashback opportunities, check out Cashback Credit Cards: Best Picks for Savvy Savers in 2026.
