Alright, savvy spenders, let’s talk about the American Express Preferred Rewards Gold Credit Card – the little sibling to the Platinum powerhouse, but with some golden perks of its own. With a £0 fee in year one and £195 thereafter, is it the perfect points-builder or just shiny plastic? Let’s find out. Want more travel hacks and credit card perks? For our entire collection of reviews and guides, click here. Trust me, your wallet’s about to level up.
In This Post
Earning Points: The Lowdown
- Points Accumulation:
- 1 point per £1 spent on everyday purchases
- 2 points per £1 on flights or overseas spending
- 3 points per £1 on Amex Travel bookings
- Annual Bonus: 2,500 bonus points per £5,000 spent (up to 12,500 points annually)
- Transfer Rate: Points transfer 1:1 to Avios, Virgin Points, and other airline programs
- What’s a Membership Rewards Point Worth? Typically 0.75p–1p for flights, decent value on hotels, or £150 in gift cards for 30,000 points
Essential Card Details
Supplementary Cards: You can add supplementary cardholders to your account. The first is free, and additional cards may incur a fee. Their spending also helps you rack up points faster.
- Annual Fee: £0 for the first year, £195 thereafter (pro-rata refunds available if cancelled)
- Representative APR: 87.3% variable
- APR on Purchases: 30.0% variable
- Minimum Income: £20,000+ personal income
Is the Annual Fee Justifiable?
- Year 1: You get 30,000 points (if you spend £3,000 in 3 months) and £120 in Deliveroo credit – solid value.
- Year 2 Onwards: Using the lounge passes, travel perks and keeping up spending might be worth it. Otherwise, the £195 might sting.
- Pro Tip: You can cancel anytime – and yes, pro-rata refunds are still a thing with this one.
Lounge Access
- 4 complimentary Priority Pass lounge visits each membership year
- Each visit after that: £24
- No supplementary lounge card like Platinum, but it has excellent value in year one.
The Golden Welcome: Sign-Up Bonus
Spend £3,000 in 3 months, and you’ll bag 30,000 Membership Rewards points. That’s:
- Enough for a long-haul off-peak return in economy (or one-way in business)
- £150 in gift cards if you’re staying grounded
Who Gets the Bonus?
- No personal Amex in the past 24 months? You qualify
- Had a BA, Nectar, or Marriott Amex? Still eligible
- Business/Corporate Amex users are fine.
- Supplementary cardholders aren’t excluded.
Even if you’re not eligible, the perks could still make it worthwhile for year one.
Travel with the Gold Card: Yay or Nay?
- Yay: 4 lounge visits, The Hotel Collection perks, solid travel insurance, and access to Amex Offers
- Nay: 2.99% foreign exchange fee abroad
- Cut out the 3% foreign fee drama. Currensea links straight to your bank account and only charges 0.5%. Grab yours here.
Perks That Add a Bit of Sparkle
- Deliveroo: £120 annual credit (£5 back twice a month when you spend £5+)
- The Hotel Collection:
- Book two nights and get a $100 hotel credit and a room upgrade (when available)
- Travel Insurance: Trip delay, baggage delay, and accident cover (when you pay with your Gold Card)
- Car Rental:
- Hertz Gold Plus Rewards benefits
- Avis Preferred Plus status perks
Upgrade Opportunity
If you’re finding value in the Gold Card, consider upgrading to the Platinum Card later on. It brings heavier perks like unlimited lounge access, comprehensive travel insurance, and hotel statuses galore. Plus, Amex occasionally runs upgrade bonuses, so keep an eye out.
Final Verdict: Is Amex Gold Worth It?
The American Express Preferred Rewards Gold Credit Card is a brilliant starter for points collectors and lifestyle lovers. Year one is a no-brainer with the bonus and Deliveroo credit. But in year two, you’ll need to keep travelling and dining to make it worthwhile.
Platinum too posh? This might just be the golden middle ground.
Ready to experience the Gold life? Apply for Amex Gold here.
