American Express is to slap a £20 annual "dormancy" fee on customers who don't use their Platinum cashback credit cards for a year.
The fee will be introduced from 1 October to cover the administrative costs of running accounts left idle. An Amex spokeswoman says it will be charged "once existing cardholders who haven't used it for more than a year pass their card 'anniversary' ". It is also increasing the annual minimum spend to earn cashback from £2,500 to £4,250.
Full article at Play or pay: Amex won't let sleeping accounts lie
The fee will be introduced from 1 October to cover the administrative costs of running accounts left idle. An Amex spokeswoman says it will be charged "once existing cardholders who haven't used it for more than a year pass their card 'anniversary' ". It is also increasing the annual minimum spend to earn cashback from £2,500 to £4,250.
Full article at Play or pay: Amex won't let sleeping accounts lie
