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Credit card company commits to cashback

Wed, 18 Jan 2006

Credit card company American Express has confirmed that it remains committed to cashback on its credit cards.

This announcement comes on the back of Nationwide's announcement last week that it will withdraw cashback.

The head of card lending at American Express, Tom Allder, says those credit card holders who currently enjoy cashback offered by American Express Blue and American Express Platinum "can rest assured that they will continue to benefit" from the credit cards' cashback deals.

Following interest rate changes announced by the credit card company two weeks ago, American Express Blue credit card holders offer a standard interest rate of 6.9 per cent annual percentage rate (APR).

Credit card holders will get 0.5 per cent cashback on purchases up to £2,000 and one per cent on spending that exceeds that amount. For the first three months credit card holders get double cashback.

Purchases up to £3,000 on the American Express Platinum credit card qualify for 0.5 per cent cashback. One per cent applies to spending between £3,001 and £7,500, with purchases over that earning two per cent cashback.

The standard interest rate on this credit card is 8.9 per cent.

Upon the launch of the new interest rates on these credit card deals, American Express spokesperson Katherine Whitton said the American Express Blue credit card is "already one of the top cards in the UK for earning cashback".

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