Sample Terms and Conditions
Your Guide to the Lending Code
American Express may vary the %APR, interest rates and other charges from time to time. The minimum amount you must pay us each month will be the greater of £25 (or the total amount owing if less) or the sum of: 2% of the principal amount owing; interest; default fees; repayment protection insurance, overlimit and overdue amounts and 1/12th of any annual fees or the full monthly fee (if applicable to the product you hold). You may pay off your balance in full at any time.
Your APR Explained -
As we treat all our customers and their applications on an individual basis, the APR and interest rates we offer are determined by the details customers supply, along with an independent verification of credit and repayment history.
Your personal APR for purchases will be 18.7% APR (variable) or 23.9% APR (variable). At least 51% of our customers receive our best purchases rate of 18.7%.
Customers accepted at either rate will receive the same level of rewards, servicing and other benefits.
*As of 3 January 2012 the American Express Platinum Cashback Credit Card offered the highest total cashback across all purchases over a full 2 year period. Based on the total cashback earned over 2 years (after annual fees have been deducted) on a monthly spend of £750; including an introductory bonus of 5% in the first 3 months of Cardmembership and a flat ongoing rate of 1.25% on all purchases (calculated using the ONS Family Spending 2011 Edition household expenditures by category).
1. All introductory offers are subject to change, can be withdrawn at any time and are not available to existing American Express customers.
2. An annual cashback will be payable to you by us at the following rate: a) 1.25% on every full pound spent and charged per purchase; and b) An additional cashback of 1.25% on every full pound spent and charged per purchase made during your card anniversary month if you have made purchases in excess of £10,001 on your card in the preceding 12 months. Cashback will be paid by crediting your account during each Card anniversary month on the expenditure that has taken place during the preceding 12 months. Your Card anniversary month is the one month period each year following the date on which your account was opened. See card terms and conditions for full details.
3. Cashback is not earned on Balance Transfers, Cash Advances, American Express Travellers’ Cheques purchases, Foreign Exchange transactions, interest, any spending in excess of your credit limit, charges for returned payments, late payment or referral charges and American Express Credit Card finance charges.
4. American Express Services Europe Limited (“AESEL”) makes various benefits available to Cardmembers which derive from contracts which AESEL has made with third parties. AESEL is free to amend, extend or terminate these benefits at its sole discretion. These benefits do not form part of AESEL’s contract with you but AESEL will provide reasonable notice, in any event no less than 30 days, in advance of any changes to the available benefits which may be to your detriment. One of the benefits currently available is the benefit of contracts of insurance held by AESEL with certain insurers. You will lose these benefits if you cease to be a Cardmember. Terms, conditions and exclusions apply. Details can be found on the American Express website.
Applicants must be 18 years old or over. Approval is subject to status and terms and conditions apply. The American Express Platinum Cashback Credit Card is offered by American Express Services Europe Limited registered office: Belgrave House, 76 Buckingham Palace Road, London, SW1W 9AX, United Kingdom registered in England and Wales, Company Number 1833139, and authorised by the Financial Conduct Authority under the Payment Services Regulations 2009 (reference number 415532) for the provision of payment services. American Express Services Europe Limited is an appointed representative for insurance mediation activities only, of American Express Insurance Services Europe Limited (reference number 311684) who is authorised and regulated by the Financial Conduct Authority. Details can be found on the Financial Services Register. American Express Services Europe Limited also subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board and is licensed by the Office of Fair Trading for the provision of credit products and related services.