Great deal: American Express increases welcome bonus on Preferred Rewards Gold Card to 30,000 points
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If you’ve had your eye on the American Express Preferred Rewards Gold Credit Card, now could be the perfect time to finally apply but you will have to be quick. American Express announced that it has increased the welcome bonus on the card even higher.
New cardholders can now earn a huge 30,000 Membership Rewards points after spending £3,000 in the first three months of card membership for approved applicants by 19 July 2022. Previously, the card offered a welcome bonus of 20,000 Membership Rewards points after the same spend in the same time period.
Based on TPG’s most recent valuations, 30,000 Amex Membership Rewards points are worth a huge £420. Plus, you’ll earn additional points for every pound you spend, earning you even more rewards.
The Amex Gold card is one of the best cards available in the U.K. — especially for beginners. That’s because the card’s relatively low annual fee of £140 is waived for the first year that you hold the card.
Other than the increased welcome bonus, the other features and perks of the card are staying the same. You’ll continue to earn at the following rates:
- 3 Membership Rewards points per £1 spent on the American Express Travel portal;
- 2 points per £1 spent directly with airlines or spent in any currency other than pound sterling. Though do note that these foreign currency purchases will be subject to a 2.99% fee, which negates much of the point-earning benefit; and
- 1 point per £1 spent on all other purchases.
You’ll also earn an additional 10,000 Membership Rewards points for each year of card membership so long as you spend £15,000 during that 12-month membership year period. The prospect of earning an additional 10,000 points roughly offsets the annual fee payable in the second and subsequent years.
As far as perks, you’ll get two lounge visit passes each year, hotel upgrades and other benefits when booking through The Hotel Collection, Hertz Gold Plus Rewards status and several insurance benefits. Some of the benefits are subject to enrollment.
This card has a representative APR of 61% variable and a purchase rate of 225.3% variable with an assumed credit limit of £1,200. While adding the first supplementary cardholder is free, each additional supplementary cardholder comes with a £45 annual fee.
If you already hold an American Express card in the U.K., be sure to note the Amex restrictions on welcome bonuses. Check this guide for more information in determining whether or not you are eligible for this increased welcome bonus offer.
Ultimately, if you’ve been debating applying for the card, this 10,000-point increase in welcome bonus is a sweet offer that could be the motivation you need. The 30,000 Membership Rewards points are especially useful given their versatility in being able to transfer to any of Amex’s partners.
Featured photo by Liam Spencer/The Points Guy
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