Looking for more plastic fantastic? For our full list of credit card reviews and guides, click here. Trust me, your wallet’s about to get a whole lot smarter. Alright, folks, buckle up as we dive into the nitty-gritty of the American Express Preferred Rewards Gold Credit Card – or, as I like to call it, the “Amex Gold.” Whether you’re a points hoarder, an airport lounge lounger, or someone who enjoys a cheeky Deliveroo discount, this one’s worth a peek.

Fool’s Gold or Jackpot?

  • Annual Fee: Free in year 1 for the American Express gold credit card, then £195 per year (cue dramatic music). You can cancel anytime via text without breaking up.
  • APR: A whopping 87.8% variable (yes, you read that right). But if you’re clever and pay off in full each month, the 30.4% on purchases won’t even matter.

Annual Fee: Worth It?

  • Year 1: No fee. Absolute no-brainer.
  • Year 2 and Beyond: £195. Unless you’re religiously using those lounge passes, hotel perks, and Deliveroo credits, you might start side-eyeing that fee.

Pro Tip: You only need a minimum personal income of £20,000 to apply.

a close up of a credit card American Express Gold Card
The American Express Gold Card.

The Golden Ticket: Sign-Up Bonus.

Here’s where things get juicy. Spend £3,000 in the first three months, and 20,000 Membership Rewards points are yours. That’s the biggest sign-up bonus on any free UK loyalty credit card (though, a reminder: “free” is only for year one).

Want Avios? Good news! Those points convert 1:1, so that’s 20,000 Avios waiting to whisk you away. Or explore other airline and hotel partners – the options are as vast as an Emirates A380 cabin.

Can You Snag the Bonus?

Not everyone’s invited to the party. Here’s the deal:

  • No personal Amex card in the last 24 months? You’re golden.
  • Corporate/Business Amex through work? You’re still in.
  • Is the supplementary cardholder on someone else’s account? That doesn’t count against you. (Nice loophole, right?)

Even if you miss the bonus, you still get the perks below. Speaking of which…

a room with chairs and tables
Get free lounge access.

Perks That Make You Feel Fancy.

  1. Four Free Airport Lounge Passes Jet-setter vibes, anyone? Enjoy four free Priority Pass lounge visits per year – Heathrow T5’s Plaza Premium Lounge, Gatwick, Luton, and beyond. After that, it’s £24 a pop.
  2. £120 Deliveroo Credit Two £5 credits per month. Order something over £5, pay with your Gold card, and voila – cashback magic. It’s basically “free” food for a year.
  3. Up to 12,500 Bonus Points Annually Spend £5,000? Get 2,500 points. Hit another £5,000? Here’s 2,500 more. Rinse and repeat up to 12,500 points per year.
  4. Travel Extras
    • Hertz: 10% off and a free extra driver.
    • Avis: Preferred Plus status.
    • Luxury Hotels: Book 2+ nights at select 4-5 star hotels and enjoy a $100 in-hotel credit and possible room upgrade.

Earning Points: Where’s the Value?

  • 1 Point per £1 Spent: On everything.
  • 2 Points per £1: On foreign transactions and flight bookings directly with airlines.
  • 3 Points per £1: On Amex Travel bookings and sometimes on foreign airline transactions (bonus stacking alert!).
a table with flowers in it shangri-la new Delhi
Collect more MR points with hotel bookings.

Travel with American Express Gold Card: Yay or Nay?

  • Yay: Double points abroad sound great.
  • Nay: Amex charges a 3% foreign transaction fee. Ouch.

Workaround: Get a Currensea card. It charges only 0.5% abroad and links straight to your bank account. There are no airline points, but your wallet will thank you.

What’s a Point Actually Worth?

It’s not Monopoly money, I promise.

  • Airline Miles: 0.75p to 1p per point. That’s conservative.
  • Hotel Programs: Hilton Honors, Marriott Bonvoy, and Radisson Rewards offer decent value.
  • Eurostar Lovers: Club Eurostar is a solid option, especially with post-pandemic price hikes.

Play it smart, and you can squeeze 1p of value per point.

Final Boarding Call: Is Amex Gold Worth It?

If you’re new to the points and miles game, YES. The 20,000-point sign-up bonus, lounge passes, and Deliveroo credit make this a stellar first card. Even after year one, the perks might outweigh the fee if you’re a frequent flyer or foodie.

If you’re more advanced in the loyalty game, you might outgrow this and switch to a dedicated airline or hotel card. But as a starting point? It’s hard to beat.

Ready for Takeoff? Apply for American Express Preferred Rewards Gold Credit Card here.

5 5 0 1
American Express Preferred Rewards Gold Credit Card.
American Express Preferred Rewards Gold Credit Card.
5.0 rating
5/5
Total Score
0 Shares:
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like