Amex raises 5% cashback offer for first three months to £2,500

American Express has increased the cash back that can be earned on its Platinum Cashback credit card in time for Christmas spending.

Cardholders can now earn five per cent cashback on the first £2,500 they spend in the first three months that they hold the card. This is up from the £2,000 limit previously held.

Cardholders can potentially earn £125 if they spend £2,500 in their American Express Platinum Cashback card in the first three months, up from the previous possible amount of £100.

Once the introductory period is over, cardholders earn 1.25 per cent on every pound spent after the first three months.

Holders of the card get the chance to earn 2.5 per cent on all spending using the card on the month of their anniversary of taking the card out.

The card is available until 31st January 2013 and has no annual fee.

Nick Stefanovitz, Head of Credit Cards at American Express, said: “The popularity of cashback cards has grown significantly in recent years as more and more Brits are opting for credit cards that offer money back on everyday spending as well as on bigger ticket items.

“However, there is still a significant proportion of people who are missing out by using debit cards and other methods to pay for everyday spending. We hope that over the Christmas period we can encourage them to switch their debit cards for one of our Cashback Cards and get a financial return for the way they pay.”