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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? – April 2024 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.

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

40,000 bonus points and a huge range of valuable benefits – for a fee Read our full review

Virgin Atlantic Reward+ Mastercard

18,000 bonus points 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:

British Airways Accelerating Business American Express

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review

American Express Business Platinum

40,000 points sign-up 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

Huge 30,000 points bonus until 12th May 2024 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 Business Credit Card

1% cashback uncapped* on all your business spending (T&C apply) Read our full review

Comments (153)

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

  • MDA says:

    Would be interesting to see if those who used the amex offer last year received the offer this time round

    • Spurs Debs says:

      I didn’t use it and I’ve not got offer.

      • Graham Walsh says:

        Same here, not on my Plat or BAPP. Just activated my SPG and some flowers offer only.

    • Qwerty Bertie says:

      Didn’t everybody receive it on every card held? My wife and I had it for every main and supplementary card we each held which, at the time, was over ten in total.

      This time – out of about eight in total – it is on my main platinum but no others.

      • Shoestring says:

        yes it was all Amex cards incl supps (except Lloyds & Costco, istr)

  • Mark2 says:

    My wife received an email about Shop Small on a card which she does not use, but it does not appear in the offers on that card. Since it is only one £5 I am not bothered.
    IIIII was unsurprised to find that the list/map is still vary inaccurate with many retailers not shown in a search on the town, but if searched by name it is there.
    Like many people I do not expect to have any Amex cards in December 2019. so it does not matter.

    • Mike says:

      Dec 18 – I had 3 x Amex cards by Dec 19 I will hold 0 as I countdown the 24 month churn waiting period

  • Trevor says:

    I used it last time 4 or 5 times and it encouraged me to try other places. With one shot I’ll just use it as normal in my local. Defeats the object in my opinion. Although neither my wife or I got the offer anyway this time! 😀 First the 20k sign up knock back now this. Amex getting short of a quid?

    • Alex Sm says:

      need to be vigilant as some places didn’t credit the £5 (Butterscotch was especially notorious) – my partner and I had to chat online with Amex to get our credits fixed

  • Alex W says:

    I recently have £5 off £50 at Sainsbury’s – will this also work on gift cards? Cheers.

    • Shoestring says:

      yes but they don’t sell Amazon giftcards

    • TGLoyalty says:

      No Sainsbury’s tills are set up to exclude

      • Shoestring says:

        I thought that as well but a couple of people here said it wasn’t a problem, maybe self scan? – not that I ever did it myself

  • Thomas Howard says:

    Do you get Clubcard points at Tesco when purchasing gift vouchers?

    • Louise says:

      not anymore

      • Shoestring says:

        correct, not any more – but Tesco have done the occasional promotion on certain giftcards to earn Clubcard points (same as Morrisons, who run promotions on certain giftcards to earn extra More points, though with Morrisons giftcards get base More points all the time, worth having as it makes your Amazon discount even better – 5000 More points = £5 voucher)

      • Shoestring says:

        oops £500 = £5 discount so 1%

  • Neil says:

    Does anyone know if Virgin Atlantic points can still be used for redemption’s with Air NZ? I just spoke to two lovely ladies in Wales who didn’t have a clue. I’ll happily even redeem for Virgin Australia but they didn’t know anything about it.

    • Rob says:

      Yes they can, there is a full page on the VS site explaining how. Almost zero premium availability to LA but apparently good on other routes.

      • Callum says:

        Virgin Atlantic is completely separate to Virgin Australia (the only tie is Virgin own 20% of Atlantic and 8% of Australia). The relationship between Air NZ and VS shouldn’t be affected by that.

      • Neil says:

        Excellent, thanks Callum! Looks like I will try phone call number 6 today

  • Brighton Belle says:

    Amex should be ashamed of their implementation of Small Shop. They failed to pay up on five purchases at Christmas. I wrote to them with all the transaction data and they ignored it. Multiple episodes of chat produced apologies, no action and then a line that chat doesn’t really work on Safari after technical crashes. Since I can walk past their HQ I might as well just return my 5 cards to reception. I didn’t get offered Small Shop this time around so I guess our relationship is soured. I don’t have much reason to bother with the biggest employer in Brighton. In 3 months they slipped from wonderful to abysmal. . . Curve, 2 year signup bonus etc. It’s become unattractive.

    • Qwerty Bertie says:

      Why didn’t you just call up and fight for your right to party? Online chat is staffed by personnel trained in copy & paste and polite, lip service style customer service, but not much else. I’ve tried it a handful of times, always encountering somebody with slower wits and typing speed, and never obtaining a resolution.

      • Brighton Belle says:

        Tried phone calls but the agent couldn’t get beyond his script. I thought a letter with everything laid out clearly would do it but it went into the F For Forget filing cabinet. IHG get all my transactions now.

    • Qwerty Bertie says:

      If you do personally hand in your cards though, how about having it filmed and posted on the internet for a laugh?

      Wasn’t there something vaguely like that ten or fiffeen years ago? Some geezer settled a bill in a council office by taking in tens of thousands of loose pennies in a small sack.

      • Peter 64K says:

        Sadly the coinage act 1971 limits the amount someone has to accept in small denomination coins. Only £1 and £2 coins must be accepted up to any amount….and any HeadforPointer would then maximise the points gained 😂

        • TGLoyalty says:

          believe that’s only actually government transactions eg at a court

          people can refuse your change if they want but doubt they would as banks charge to get change

    • Craig says:

      I’m not sure what the issue is with Safari and chat, I keep having to refresh the page because the input box greys out.

      • Brighton Belle says:

        Yes, it doesn’t work on Safari. Amex know it but don’t do anything about it …like tell you. It might be an Apple issue as Safari is very picky. No doubt Chrome is fine so use that.

      • Optimus Prime says:

        Last time I tried it (last week), it did work on Safari for me but it’s hit and miss…

        A private window in Chrome seems to work always.

      • M says:

        It’s been months(maybe even a year) since Safari started glitching when using online chat.

      • Robman says:

        Yes this happens to me too, but when the response box gets greyed out, you can refresh your browser and that enables the current chat box to open properly again. Sometimes you may need to refresh twice.

  • Ammar says:

    Ot – I have got a car hire booked via the recent axis offer in Dubai. I have Amex platinum so planning to use their cover. I paid with Amex platinum. If there are any extra charges is it bes to pay with Amex plat or another card then claim as I concerned re fx fees. Also I was not sure if claim easier if all paid on Amex plat. Sorry for the long question…first time using Amex plat fro car hire cover

    • Rob says:

      No need to use Plat. In the UK I usually do though simply because I think it speeds up repayment if there are issues. No recent experience outside UK.

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

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