American Express launches a new co-brand cashback credit card with health and life insurer Vitality

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American Express has just launched a new co-brand credit card – with life and health insurer Vitality.

This is interesting on a number of levels:

The cashback rewards on offer seem surprisingly generous given that, as a co-brand card, this product should be impacted by the EU caps on fees charged to retailers by card companies

It shows that American Express is still keen to play in the co-brand market, which is a positive sign for anyone hoping that travel firms like Hilton may launch new cards

Vitality American Express credit card

How will the Vitality American Express Card work?

Here are the key facts:

It is a credit card, not a charge card

You can only apply if you have a qualifying Vitality product.  If you and your partner have a joint plan, only one of you can apply for the card.  If you have individual plans, you are both eligible to apply for your own cards.

There is no annual fee

The interest rate is 22.9% APR variable

There is no sign-up offer although there are a couple of exclusive cashback offers, eg £99 back if you buy an Apple Watch and pay with the card

You will earn up to 1% cashback on your annual spending from American Express – 0.5% for the first £5,000 of purchases and 1% on purchases over £5,000 

You need to spend at least £3,000 per year on your Amex card to receive cashback

But here is the key … Vitality will pay you up to an additional 2% cashback on your spending, assuming you hit health and lifestyle targets

This is a limit of £20 per month on the cashback paid by Vitality (£1,000 per month purchase cap at up to 2% cashback)

Cashback, from both Amex and Vitality, is dropped onto your statement in a lump sum one month after the end of your card year

Accrued cashback is lost if you cancel your card

Vitality American Express Credit Card

What are ‘targets’?

If you’re not familiar with Vitality, it takes a carrot-and-not-a-stick approach to your welfare.  You track all of your exercise and ‘healthy living’ activity and receive rewards on the back of that.

For example, if you currently pay for Amazon Prime, you would get it for free with Vitality if you were active enough:

  • Take out an eligible Health, Life or Invest plan
  • Complete your online Health Review
  • Link a compatible activity tracker to your Vitality account
  • Earn 160 Vitality activity points a month to get the next month’s Prime membership on us

The current list of Vitality partners is here.  British Airways was a partner but is currently in the process of withdrawing.  There is a new Virgin Atlantic deal coming which we will cover separately.

This is how the American Express deal works

Take a look at the chart below (click to enlarge):

Vitality American Express card

If you hit ‘160 Activity Points’ in a month (the same level required to trigger free Amazon Prime membership in the earlier example), Vitality will pay you an ADDITIONAL 1% cashback on your American Express spend.

If you have two eligible Vitality plans – it is not clear if that means two across a household or if you hold two different plans of your own (eg health and life insurance) – then you would receive up to 2% ADDITIONAL cashback.

The additional Vitality cashback will be paid on all card spend, including supplementary cards.

The Vitality ‘top-up’ cashback is limited to £1,000 of purchases per month.  This means that the maximum you can earn is £10 per month if you hold one qualifying Vitality plan and £20 per month if you hold two qualifying plans.  You would also need to hit 160 Activity Points to earn this rate.

The cashback runs in arrears.  If you hit 160 Activity Points in January, for example, you would receive 1% or 2% cashback on your Amex spend incurred in March.  If you dropped to 120 points in February, you would receive 0.75% or 1.5% on your spend in April.

When is cashback paid?

Cashback follows the same model as the existing American Express cashback cards.

It is paid one month after your card anniversary date.  If you cancel your card, accrued cashback is lost.

A minimum annual spend of £3,000 on the card is required to earn cashback.

The additional ‘up to 2%’ paid by Vitality is dropped onto your American Express card as a credit at the same time.  It is not paid directly to you by Vitality or used to reduce your monthly premiums.

American Express Platinum Cashback card

How does the Vitality American Express Credit Card compare to the two existing American Express Platinum cashback cards?

American Express already has two cashback credit cards.  We reviewed the Amex Platinum Cashback cards here.

The American Express Platinum Cashback card (pictured above) has a £25 fee and pays you cashback at the following rate:

  • 5% cashback on all your spending in the first three months, up to £2,500 of purchases
  • 1% back if you spend under £10,000 from month 4 to month 12 (and annually thereafter)
  • 1.25% back on your spend over £10,000 from month 4 to month 12 (and annually thereafter)

The American Express Platinum Cashback Everyday card has a tiered system:

  • 5% cashback on all your spending in the first three months, up to £2,000 of purchases

After the first three months, you will earn:

  • 0.5% on the first £5,000 of spend (but you get nothing if you spend under £3,000)
  • 1% back on your spend over £5,000

As with the Vitality card, cashback is paid in a lump sum at the end of each card year.

The Vitality American Express Credit Card is a better deal than the American Express Platinum Cashback Everyday card.  It has identical cashback from Amex BUT you will also get your cashback from Vitality as well.

Whether the Vitality American Express Credit Card is better than the £25 Amex Platinum Cashback Card depends on two things:

  • how much you spend on the card each year
  • how many Activity Points you earn per month

The Vitality Amex is likely to outperform for most people.

Is this a card worth getting?

Potentially, yes, if you are a Vitality member.

Someone spending £12,000 per year on this card, holding two Vitality plans and generating 160 Activity Points per month would be getting a very generous 2.8% back.  (£240 from Vitality and £95 from Amex, divided by £12,000.)  This is not bad at all.

Full details are on the ‘Member Zone’ if you log in to the Vitality website.

(Want to earn more miles and points from credit cards?  Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Cards Update’ link in the menu bar at the top of the page.)

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  1. Am I wishing for too much? A Hilton Amex card would be nice

  2. Sussex Bantam says:

    Bloody hell that’s complicated….

  3. Shoestring says:

    Health insurance built around you
    Get award-winning health cover with discounts and rewards for being healthy from £35 per month.

    • It’s got a bit of a Black Mirror feeling, that episode where they have to run on treadmills looking at adverts to earn credits in life…

  4. Vitality trawling for more data as per usual. They’re like those fishing trawlers that just destroy the ocean

  5. Hardik Makkar says:

    Piece of crap credit card – given no competition, Amex is coming up with so bad credit cards. Look at US, they get competition from Chase, HSBC and every other major credit card provider. There they need to keep there game up. Here we get random cards, like this one. We want a HILTON AMEX COBRANDED Credit Card.

    • Oh! Matron! says:

      Where do I start? Well, the US doesn’t have fees capped, so they can offer many more benefits with cards. With commissions as high as 3%, it allows credit card issuers to offer much better enticements. We have fees capped at 0.5% in the UK, which is why there’s little in competition.

    • TGLoyalty says:

      Hilton isn’t that interested in having one? Or can’t make a case with a provider to offer one?

      • I want to understand how Amex is making money off this Vitality card post interchange caps because, logically, if it can make money off this it can make money off a Hilton card, substituting cash for points.

        • I would say by Vitality paying for users data.

          • Lady London says:

            I would say by others paying Vitality for your data.

            I did a contract with a company that made very, very good use of such data and this would have a relatively high value as it’s intimate and specific.

          • Ask Vitality for their data processing between parties. It might surprise you 😉

        • Charlieface says:

          It’s capped, which changes the maths substantially.

          • The Vitality money is capped, the Amex bit is not. Amex is still paying 1% to high spenders on 0.3% interchange (or whatever they are pretending is interchange).

        • TGLoyalty says:

          Do Amex really have interchange fees? Even if they have one they claim is the interchange they directly process their payments so plenty of other fees coming in.

          Ofcourse they needed to be leaner to swallow the reduction in fees.

          • No, because there is no network between the cardholder and retailer. The thing with interchange fees is that Visa and Mastercard were raking off huge sums of money for virtually nothing.

  6. Genuinely going to miss the BA benefit. This card does seem overly complicated and considering how unreliable their activity tracking can be I don’t hold out full hope that it will work as expected.

  7. I’d feel guilty every time I bought a bacon roll with this thing!

  8. I attached my Fitbit to the cat, around her collar. The heart rate is high enough for it to think I am exercising vigorously. vitality therefore give the points. Whilst I eat crisps on the sofa.

  9. Looks like the card information has been pulled from the vitality website. Did a website update get accidentally pushed out early?

    • Odd. Whilst we had the information early via a leak, Vitality had sent us a press release by the time we got the article written.

  10. What is sign-up bonus interaction with other amex cards?

  11. How does this card affect any sign-up bonus with other Amex please? Thank you!

    • We don’t know. I would IMAGINE it counts against you if you wanted a Gold / BA in the next 24 months.

      • Rob, if there’s any way you can use your contacts at Amex to clarify the impact on Gold and BA bonuses I’d be grateful. As an existing Vitality customer this will be the deciding point for me.

        Vitality have also ditched Ocado for Waitrose and Starbucks for Nero so big changes throughout.

      • I thought the only thing stopping you getting the ba Amex sign up bonus was having had the same card in the last 24 months. Other Amex cards don’t count against the sign up, do they?

        • you are thinking about BA Premium Plus ONLY.
          So the regular (blue) BA card is affected by ANY amex card eg. spg or gold. But the black one is only related to having a BA card.

          The same rules apply to the main green gold platinum card range. The platinum card bonus is available if you have not had any of those for 2 years. But the bonus for green or gold IS affected if you have had ANY amex card – e.g. spg or ba card..

          Someone correct me if I have got it completely wrong.

        • Nope. ALL cards count against the free BA Amex. Only BA cards count against BAPP.

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