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American Express to cut cashback on its credit cards by as much as 50%


American Express and its market-leading cashback credit cards are getting a little less generous, with the provider slashing how much customers earn by as much as 50 per cent in some cases.
Payouts on the free American Express Platinum Cashback Everyday and £25-a-year Platinum Cashback credit cards can currently total hundreds of pounds a year with cashback rates of up to 1.25 per cent.
However, for newcomers from today and for existing customers from 4 August, cashback rates will be cut.
American Express is cutting the cashback paid on some of its credit cards
The free card currently pays 0.5 per cent on up to £5,000 a year and 1 per cent cashback on spending above that. However, under the changes all spending of up to £10,000 will only earn 0.5 per cent. ....

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£125 Switching & 15% Cashback Schemes Announced


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HSBC has launched a new switching offer that will see consumers earn £125 simply by switching their bank account to a HSBC Advance Account or Premier Bank Account. This offer was launched in the same week that Virgin Money revealed a cashback incentive that will see its credit card customers earn up to 15% on everyday spending.
Here we’ve looked at both these incentives in more detail, as well as at some of the alternative switching and cashback offers currently available to consumers.
HSBC £125 switching offer
HSBC’s switching offer is a great way for consumers to earn an extra £125 just by switching bank accounts. This offer is only available to new customers and in order to receive £125 they must switch to either a Premier Account or Advance Account and have at least two direct debit or standing orders set up. The Advance Account is available to customers who are completely new to HSBC and, although this account does not charge a monthly fee, ....

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Balance transfer credit cards: Some banks boost interest-free deals


Banks have brought back or boosted balance transfer deals over the last month as they loosen the lending taps, but borrowers looking to clear their debts still have less choice than ever before.
MBNA, Sainsbury s Bank and Virgin Money all lengthened the interest-free terms on some of their cards, while the supermarket lender also reopened its doors to non-Nectar customers last October after shutting up shop at the start of April 2020.
It now offers the best 0 per cent deal on the market, with borrowers having as long as 29 months to clear their debts in return for a 3 per cent, although some applicants will be given less time to repay. ....

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