American Express has added the new Platinum Cashback Credit Card to their growing portfolio of credit card offers. Cardholders will be pleased to learn that the new rewards card focuses on long term rewards rather than short term sign up offers that quickly disappear. These short term offers which are currently being touted by most credit cards these days cause cardholders to bounce around from one new card to another, taking advantage of the new customer perks. With the new Platinum Cashback Credit Card from American Express, jumping around credit card offers becomes unnecessary.
The new card provides cardholders with a flat rate of 1.25% cash back on all purchases, but does provide an introductory offer of 2.5% for the first three months. To keep their cardholders happy and content, the company is offering an incentive for them to keep using the card instead of moving on. American Express will give an annual bonus on the cardholder’s sign up anniversary in which they will receive double cashback for an entire month each year. There is no limit to the amount of cashback a cardholder can earn which makes this new credit card very profitable.
Head of Credit Cards at American Express, Julie Hay said: “In recent years there has been a trend of regular credit card switching to benefit from short term introductory rates. However, this product is about rewarding customers over the long-term, so that year in, year out, customers who use the card continue to reap the benefits of a consistently good cashback rate.”
This new method of customer rewards comes on the heels of cardholders demanding a credit card that rewards loyal customers in the long term so that it isn’t just the new applicants that receive all the special treatment.
“There’s a huge amount of dissatisfaction towards companies that offer better rewards and discounts to new customers compared to existing customers,” added Hays.“ While some people are happy to switch cards of a regular basis, a large portion of credit card holders would be more likely to stay with their current provider if they were rewarded for their loyalty. We want to ensure that out Cardmembers continue with us over the long-term by rewarding them significantly on an on-going basis.”
The new credit card should be available soon at CreditCardsProfessor.com.
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