Amex launches increased £125 cashback deal for new customers

American Express has increased the introductory offer for its Cashback Everyday Credit Card by £25.

New customers who sign up for the plastic card can now get 5 percent cashback on all spend up to £125 for the first five months of card membership.

Previously, customers who signed up for the card could receive 5 percent cashback up to £100 in the first three months of their card membership.

Amex introduced the three-month introductory bonus for new customers with a £100 limit in February this year as a limited time offer.

This time around, there is no end date for the new £125 cashback introductory offer.

How does it work?

The sign-up bonus is only available to customers who have not had a personal American Express Card in the past 24 months.

If you are only an additional cardholder on someone else’s American Express card, you can still receive the sign-up bonus.

There are no monthly or annual fees associated with this card.

After the five-month introductory period, customers will receive 0.5 percent cashback on spend up to £10,000 and 1 percent cashback on everything they spend every year thereafter.

As long as you spend at least £3,000 each year, you’ll qualify for cashback for every £1 you spend on purchases.

Customers do not receive cashback monthly. Instead, it is deposited into your Amex statement at the end of each card year.

This card also comes with a ‘refer a friend’ offer.

The person who makes the referral earns £20 cashback, while the person who is referred gets £10 cashback for the first £1 they spend. The referral earnings limit is set at £150 per year.

If you don’t pay off the balance on the card every month, you’ll face a 31 percent purchase percentage.

The Amex Cashback Everyday Credit Card currently has the highest cashback percentage on the market.

According to Head for Points, a frequent flyer website, most other credit cards offer between 0.1 and 0.25 percent cash back.

Please note that some UK retailers will not accept Amex as they would have to pay around 3 percent per sale.

It is important to know where you can and cannot use your American Express card – Here you will find the places where you can pay with Amex.

There are now very few large chains that won’t accept it. You’re more likely to have a problem in smaller stores in the UK.