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.
In This Post
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.
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…
Perks That Make You Feel Fancy.
- 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.
- £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.
- 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.
- 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!).
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.
