There is a promotion that is perfect for those with discipline planning to make big purchases, as you can bag huge cashback and spread repayments at no cost.
Accepted new American Express Platinum credit cardholders get a mammoth 5 per cent cashback (£5 per £100) on up to £2,000 spent during the first three months they have it. Plus, American Express Platinum has recently launched a 0 per cent deal on all spending for the first six months too.
So if you have a big purchase planned you can use it to spread repaymentswithout incurring interest and get up to £100 cashback, which will be paid on the anniversary of your account opening, provided you have spent at least £3,000 on the card within the year.
To get one requires family income of at least £30,000 and you have to pass a credit check.
Do be aware though: American Express is not universally accepted, so if you have a specific purchase in mind first check that the shop takes it.
And ensure you have repaid the balance by the time the 0 per cent period ends or the interest jumps to a huge 19.9 per cent APR.
For detailed pros, cons and alternatives, see www.moneysavingexpert.com/cashback