Maximize Your Cashback Rewards with Payback American Express Credit Card

Do you want to maximize your Cashback rewards and save more money with your credit card? Look no further than the Payback American Express Credit Card!

In this guide, I’ll show you how to maximize your cashback rewards with this popular credit card and save money with every purchase. We’ll explore the card’s many advantages: including its double Payback points feature, and I’ll share insider tips on how to get the most out of your rewards.

The Advantages of the Payback American Express credit card

As the name suggests, the Payback American Express credit card offers a Payback feature, which allows you to redeem the points collected from card payments in five different ways

1. Exchange for premiums 

The Payback premium shop offers a large selection of branded goods, such as those from Apple, Sony, Adidas , Lenovo and more, across various categories, including cooking, home and garden, sport and leisure, travel, luxury, technology, and games.

2. Exchange for shopping vouchers:

If you don’t find what you’re looking for among the rewards offered, you can also choose from a large number of shopping vouchers. Well-known brands available include Adidas, Douglas, Ernsting’s Family, H&M, and Ikea

3. Payout to your checking account:

A payout in the form of money to your checking account is also possible, and you can choose to transfer part of the Payback points you have collected as a sum of money.

4. Exchange points for flight miles:

If you are a frequent flyer, exchanging points for miles for the Star Alliance Miles&More program may interest you. You can exchange your Payback points 1:1 for miles.

5. Paying with Payback points:

Some Payback partners allow payment with Payback points in their branches and online shops. You can use this feature at Aral, dm, real, Burger King and many other!

Here’s a little-known secret: using your collected Payback points for shopping vouchers or to pay for purchases may not be the best strategy. Because you won’t earn any new points for redeeming them. Instead, it’s better to always pay with the card, collect more points, and have them paid out to your account as cash or miles.

Let me share some other advantages of the Payback American Express Credit Card in Detail.

how to get the Payback american Express Credit Card
How to get the Payback american Express Credit Card. (Translated from Payback Website)

Payback Amex Credit Card Fee

Free Credit Card The Payback American Express card is totally free, which means there is no annual fee, and no minimum usage is required.

Additionally When you open a PAYBACK account, you can get a second card in addition to the main card. You can pass this on to family members or friends, for example and collect Points even faster.

Maximize Your Points: Additional Payback Benefits with the American Express Card

Get additional Payback points: With the Payback American Express credit card, just like with the regular Payback card without a payment function, you collect regular points from all Payback partners.

Additionally, you can use coupon campaigns to collect extra points. You receive 1 Payback point for every 3 euros spent with every payment made with the American Express card, allowing you to get double the points.

If you already have a payback card, you can even link the new Payback American Express credit card with your normal Payback account and the points can be transfered.

Enjoy Flexible Point Collection with Payback American Express Card

With the Payback credit card from American Express, you can collect points not only when shopping with Payback partners, but also with all dealers and service providers.

Card payments at petrol stations are excluded from the additional points, and you only get the normal points from the Payback partner Aral. Although American Express does not have as many partners as Visa or Mastercard, you can still pay with American Express in all supermarket chains in Germany, such as Aldi, Lidl, Rewe, or Edeka, and most other shops.

The Payback code is on the back of the Credit card, with which you collect the standard points, just like with the simple Payback card. And then you pay with the card and get the additional points for the card payment. Or simply collect the points if you wish to pay with cash.

Top Payback Partners
Top Payback Partners

Welcome Bonus and Extended Point Validity

American Express rewards you with a welcome bonus if you order the Payback credit card. You will receive Payback points, which will be credited to your points account. The amount of the welcome bonus varies from time to time. So Ill put the latest details in the description below.

Normally, Payback points that you do not redeem expire after 36 months and are then deleted from the card account annually on September 30th. However, if your Payback American Express credit card is linked to your Payback account, your points remain valid indefinitely. As long as you continue to participate in the Payback program. Despite the credit card, they can only expire if you do not collect any new points for 3 years.

Interest-Free Credit and Contactless Payments

Up to 36 days of interest-free credit: All payments are accumulated for a month and then settled together once a month. If you wish, you can have the accrued balance automatically debited from your checking account by direct debit. The direct debit takes place 5 days after the statement has been created.

You get an interest-free payment period of up to 36 days from the day of payment to the repayment.

The American Express card contains an NFC chip, making contactless payment possible. You can pay amounts of up to 50 euros without a PIN and signature. Mobile payment with your smartphone is also possible.

You can use both Apple Pay and Google Pay for free, regardless of whether you have an Apple iPhone or an Android smartphone. Smartwatches from Apple or other manufacturers with the Android system can also be used for mobile payments.

Protecting Your Payback American Express Card

Security against theft and card misuse: Push notifications via the app after each payment and express notifications of suspicious account transactions by email or SMS provide additional security.

If you lose the card, your liability is limited to a maximum of 50 euros. In the case of theft through no fault of your own, you do not have to pay your share. When you apply for the card, you can freely choose your desired PIN, making it easier for you to remember it.

Of course, the Payback credit card is not perfect either and therefore not perfectly suitable for every use. So there are also some disadvantages of the Payback American Express Credit Card.

Foreign Currency Fees and Withdrawal Charges

If you withdraw money or pay with the card in countries that do not have the euro as their national currency, foreign currency fees of 2% will be charged. For trips outside the euro zone, you should have an additional free travel credit card with you.

When withdrawing money from the ATM, fees of 4%, or least 5 euros, are incurred. So Avoid cash withdrawals with the American Express and use the card you received from your bank for your checking account, instead.

Another disadvantage is that it is an American Express credit card, so you cannot use the Payback card to pay at as many retailers as you can with a Mastercard or Visa credit card . However, the acceptance of the American Express Credit Cards isn’t particularly relevant as most popular brands do accept it.

Is the American Express Payback credit card worth it?

I think the Payback credit card from American Express is definitely worth it. There are no monthly or annual fees, and there are no conditions such as a minimum turnover. With every payment, even with non-Payback partners, you collect Payback points that you can have paid out in cash.

If you pay with Payback partners, you will receive double the amount in almost all cases. But if you want to use a credit card outside the euro zone then I think this credit card is probably a better option.

This article may contain Affiliate links, I may earn a commission if you use the link and make an account at no additional cost to you

Disclaimer: None of the content in this article is meant to be considered as investment advice, as I am not a financial expert and am only sharing my experience with stock investing. The information is based on my own research and is only accurate at the time of posting this article but may not be accurate at the time you are reading it.

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