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Amazon cuts the cashback earning rate on its Platinum Mastercard credit card

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If you need any further proof of the tough environment out there for credit card rewards, Amazon has just announced big changes to its UK Platinum Mastercard.

I tend to use the Amazon card as one of my default ‘best (almost-)cashback’ cards.  After this change, the best mainstream card is probably the John Lewis / Waitrose one which has no annual fee and still offers 0.5% back, doubled to 1% at John Lewis and Waitrose.

Amazon Mastercard reduces its cashback earning rate

From 29th April, the cashback rate – paid in Amazon vouchers – on the Amazon Platinum Mastercard will drop from 0.5% to just 0.25%.

The earning rate when spending at Amazon remains unchanged.  You will get 1.5% back as a Prime member and 0.75% back otherwise.

Details of the credit card, which do not reflect the upcoming changes, are on this page of the Amazon site

Want to earn more points from credit cards? – September 2023 update

If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.

In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.

You qualify for the bonus on these cards even if you have a British Airways American Express card:

Barclaycard Avios Plus card

Barclaycard Avios Plus Mastercard

Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review

Barclaycard Avios card

Barclaycard Avios Mastercard

5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review

You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.

SPECIAL OFFER: The sign-up bonus on the Virgin Atlantic Reward+ Mastercard is doubled to 30,000 Virgin Points if you apply by 2nd October. You receive 15,000 Virgin Points with your first purchase and a further 15,000 points if you spend £3,000 within 90 days. Apply here.

British Airways American Express Premium Plus

25,000 Avios and the famous annual 2-4-1 voucher Read our full review

American Express Preferred Rewards Gold

Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review

The Platinum Card from American Express

30,000 points and a huge range of valuable benefits – for a fee Read our full review

Virgin Atlantic Reward+ Mastercard

30,000 bonus points (SPECIAL OFFER TO 2ND OCTOBER) and 1.5 points for every £1 you spend Read our full review

Earning miles and points from small business cards

If you are a sole trader or run a small company, you may also want to check out these offers:

American Express Business Platinum

40,000 points bonus and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

20,000 points sign-up bonus and free for a year Read our full review

Capital On Tap Business Rewards Visa

Get a 10,000 points bonus plus an extra 500 points for our readers Read our full review

For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending.

Barclaycard Select Cashback credit card

1% cashback and no annual fee Read our full review

Comments (154)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • Jtz says:

    Has anyone else got an email from iberia 7000 seats for €7.99 plus tax?

  • BJ says:

    It’s already been confirmed time and time again.

    • Jonny says:

      Thanks.. The reason I asked is that as I said, the language was slightly different this time, and last time I saw this raised some people had assumed it would work as usual but hadn’t got the cash back yet.

      • Alan says:

        Although for those saying they haven’t received it so far I’m not yet clear (a) if the hotel they booked at was on the list and (b) how long since the charge fully posted to their Amex account given how slow the Amex Offers seem to be to post just how.

  • Jo says:

    OT: I hv foolishly kept the blue ba card and realised I hv alr spent £18k on it. Is there any worth in upgrading to black card now? Can I get any points for referring myself and how many vouchers will I get if I spend £2k more? (I have not had any vouchers yet)

    • Rob says:

      If you spend £2k more you’ll get the standard 1-year voucher.

      If you upgrade to BAPP (and feel free to downgrade again soon afterwards for a pro-rata fee refund) you will immediately get a 2-year voucher as you are over £10000.

      • Matt says:

        Are you sure about that? I think I’ve read somewhere (here or Flyertalk) that if you’ve already spent £10k then you might get the 1 year voucher if you upgrade. If you’ve spent £9900, upgrade and then spend another £100 then you’re definitely OK.

        • Graham says:

          I did this recently, initially they gave me the one year voucher and I had to call Amex to get the two year voucher – was an easy fix. You get the voucher because you are premium, so you get the premium voucher.
          I also got a bonus 6k points for upgrading.

          Do you need a 24 month voucher, rather than a 12 month voucher? Basically you would be spending £195 for the longer voucher and maybe 6k avois – that might suit you better if you don’t have the Avios available to book something good in the next 12 months, also there might not be the availability within 12 months if you want a popular route.

      • BJ says:

        And maybe also get a 6k bonus according to some previous comments, but don’t count on it.

        • Octopus says:

          First time when I upgraded by telephone I received the 6k bonus points. In other years when I upgraded online, I did not get any bonus points. Not sure whether calling to upgrade makes a difference?

    • Nick M says:

      If you upgrade, you’ll have to pay the fee but the voucher will be valid for 2 years…

      If you don’t, you need to spend another £2k to trigger the voucher which will only be valid for 1 year, however there won’t be a fee to pay

    • Anna says:

      You don’t get referral points when you’re going between BAPP and blue on the same account.

  • Matt says:

    For the Tesco SIM card deal is it definitely OK to get 2 separate SIM cards on the same clubcard number/account?
    Waiting for the points from the 1st SIM I got, have another SIM waiting to be activated, just wondering whether it’s safe to go for it.

    • BJ says:

      Yes, several people have now reported 4k for 2x sim on 1x c.f. account. Reports also suggest points are crediting 9 days after activation.

      • Matt says:

        Great, thanks. 9 days is up for me tomorrow I think, so haven’t been expecting the first lot just yet.

    • Craig says:

      Just tried to order a sim card and nothing happens!

  • Munch says:

    OT I’ve booked a standard redemption for the Ritz Carlton NY. Is it possible to pay for executive lounge access? Apparently they serve caviar on the Saturday so wouldn’t mind paying for just the one day.

    • John says:

      Wouldn’t it be cheaper just to buy the caviar yourself? I can’t imagine that a hotel would be losing money on serving caviar.

      • Bagoly says:

        I can see how the hotel would lose at the margin, which is what is relevant here.
        They provide the caviar with the experience that say 20% of residents with executive lounge access will eat an average of say 30g.
        (Some will not get out of bed in time, some prefer breakfast in their room, some are vegan, some are not aware of it, some do not like caviar, some are too timid to ask for a second helping etc)
        And if the increase in room level to get lounge access is the same all week, they might even be effectively spreading the cost over the whole week.

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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