Last chance: Earn 20,000 Membership Rewards points with the Preferred Rewards Gold Credit Card from Amex UK
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If you’ve been looking for a new rewards-earning credit card, then the Preferred Rewards Gold Credit Card from American Express U.K. could be a good option — and an even better one now. For just one more week, the card has an elevated welcome bonus — 20,000 Membership Rewards points after spending £3,000 in the first six months.
Until 29 June 2020, the welcome bonus for the Preferred Rewards Gold Card has increased from 10,000 to a huge 20,000 Membership Rewards points after you meet the minimum spending requirement. Based on TPG U.K.’s most recent valuations, the 20,000 Membership Rewards points are worth £280.
Because of the coronavirus crisis, American Express has also extended the period during which you can earn the welcome bonus. Traditionally, new cardholders have three months to meet the minimum spending requirement on new Amex cards. However, Amex has extended that period to allow new cardholders six months to meet the £3,000 minimum spending requirement.
Along with the great 20,000 Membership Rewards-point welcome bonus, there’s no fee for the first year (£140 each subsequent year), and the great point-earning structure make this card a no brainer. Plus, you’re earning Membership Rewards points, which are a transferable currency, allowing you to shift your points to any of Amex’s 17 partners, including British Airways Avios and Virgin Atlantic Flying Club miles.
For example, 20,000 Amex Membership Rewards points can be transferred to British Airways Avios for a return flight for two people to many destinations in Europe using BA’s excellent Reward Flight Saver option.
Also, even if you don’t have elite status with any airline, this card comes with two airport lounge visit passes each year. The visits must be made in the Lounge Club network, which boasts more than 700 lounges worldwide. Member lounges include the No1 Lounges at London Gatwick (LGW) and Plaza Premium lounges at Heathrow Airport (LHR), among others.
Additionally, you’ll earn 10,000 bonus Membership Rewards points each year when you spend at least £15,000 each year that you hold the card. As far as the ongoing earn rate, you’ll get 1 Membership Rewards point for every £1 spent on your card, 2 Membership Rewards points for every £1 spent directly with airlines or in a foreign currency and 3 Membership Rewards points for every £1 spent with American Express Travel.
It’s worth noting that American Express restricts who is eligible for this elevated welcome bonus. If you already hold an American Express card in the U.K. or have held this or other American Express cards in the past, be sure to note the restrictions on welcome bonuses.
This card has a representative APR of 57.6% variable and a purchase rate of 22.9% variable with an assumed credit limit of £1,200.
Featured photo by John Gribben/The Points Guy.