Forums › Payment cards › American Express › Platinum Cashback vs Preferred rewards gold
-
Hello,
Trying to decide between these two. My take is that the 1.25% cashback after £10 000 overtakes the 1 point per £1 spend after around £20 000, and if you spend £40 000 or so in the year, the cashback card is better (especially as points usage comes out between 0.5p to perhaps 1p, unless buying business class tickets wholly with points).The cashback card at £125 vs 30 000 points (perhaps worth around an average of £170 in value), somewhat offsets the above, though, as do the deliveroo vouchers if you use the £120 per year, and the free airport lounge access.
I ordered the cashback card though am now having seconds thoughts.
What do you think?
- This topic was modified 54 years, 4 months ago by .
what if the shops you plan to spend 40,000 dont take amex?
Personally, I dislike cashback cards. I don’t disagree with your in depth calculations as I haven’t reached for my calculator, but building up a mass of MR points is much more exciting to me and the fact that you have a massive amount of reward partners to choose from is a big plus too. Having a few hundred pounds credited to a credit card statement once a year just sounds rather dull and restrictive.
Having a few hundred pounds credited to a credit card statement once a year just sounds rather dull and restrictive.
It’s also strictly annual (or was last time I checked). I’m often spending MRs before a year is up!
I’ve also swerved non-aspirational benefits like card credits in the past. However, with covid, a huge surplus of miles/points, and other limiting factors, I’ve resorted to “cashing out” through the Avios -> Nectar -> ebay/Sazbos route. However, I am now diligently adding the equivalent in cash to my savings pot in Chase every time I cash out, which is also where my Chase 1%s are going, and will be available to spend only on silly treats like holidays. Nothing sensible allowed.
Incidentally, if you are pushing over £ 20k/quarter you should look at the Business Gold. This outperforms any personal card for the heavy spender I believe.
- You must be logged in to reply to this topic.
Popular articles this week:
New to Head for Points?
Welcome! We’re the UK’s most-read source of business travel, Avios, frequent flyer and hotel loyalty news. Let us improve how you travel. Got any questions? Ask them in our forums.
Latest Forum Posts
- SteveJ on Thinking of stumping up the cash instead of using points…..
- slidey on Is DragonPass as bad as the online reviews would suggest?
- DanielD on Passport renewal – recent experiences?
- Lady London on Renovation work during stay
- t42 on Heathrow and Hong Kong lounges for first status trip
- Lady London on Is DragonPass as bad as the online reviews would suggest?
- Lady London on BA Avios eStore confusion
- Indy500 on BA Avios eStore confusion
- davefl on Is DragonPass as bad as the online reviews would suggest?
- chiraagnt on Time for Barclaycard Avios delivery
Check reward flight availability instantly for free!
Booking a luxury hotel?
Our luxury hotel booking service offers you GUARANTEED extra benefits over booking direct. Works with Four Seasons, Mandarin Oriental, The Ritz Carlton, St Regis and more. We've booked £1.7 million of rooms to date. Click for details.