Reader John emailed Amex last week to cancel his Platinum charge card.
When they responded, Amex tried to persuade him not to cancel but to downgrade to a new ‘secret’ card – Gold Rewards Plus.
- It comes with the same travel insurance package as the Platinum card (to be confirmed – the email implies it is the same but I haven’t seen the documentation)
- It comes with permanent double Membership Rewards points on travel and overseas purchases (as per Preferred Rewards Gold)
- It comes with 1 year of double points on supermarket and petrol spend (as per Preferred Rewards Gold)
- It offers 7,500 MR points each year when you renew, subject to spending £15,000 (as per Preferred Rewards Gold)
- It offers four airport lounge passes (Preferred Rewards Gold offers two)
The annual fee for this card is £285.
This is, frankly, a shockingly bad deal.
Basically, it is the Preferred Rewards Gold card plus travel insurance.
Yet, Preferred Rewards Gold comes with a 20,000 point sign-up bonus, no fee for Year 1 and £125 thereafter.
Gold Rewards Plus has NO sign-up bonus and is £285 per year from Day 1!
Interestingly, the ONLY way to get this card is to downgrade from Platinum. John was told that if he didn’t accept the deal now, it would not be available to him later (lucky him, I think!).
It seems pretty clear that this is a knee-jerk reaction to try to keep some money from people who are cancelling Platinum to avoid the new £450 fee.
Amex couldn’t even be bothered to create a new card design. They will just send you a bog-standard Gold card with a different cover letter and throw in some travel insurance, whilst charging you £285!
Must try harder …..
Want to earn more points from credit cards? – October 2023 update
If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.
In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.
You qualify for the bonus on these cards even if you have a British Airways American Express card:
You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.
British Airways American Express Premium Plus
25,000 Avios and the famous annual 2-4-1 voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review
The Platinum Card from American Express
30,000 points and a huge range of valuable benefits – for a fee Read our full review
Virgin Atlantic Reward+ Mastercard
15,000 bonus points and 1.5 points for every £1 you spend Read our full review
Earning miles and points from small business cards
If you are a sole trader or run a small company, you may also want to check out these offers:
American Express Business Platinum
40,000 points bonus and an annual £200 Amex Travel credit Read our full review
American Express Business Gold
20,000 points sign-up bonus and free for a year Read our full review
Capital On Tap Business Rewards Visa
Get a 10,000 points bonus plus an extra 500 points for our readers Read our full review
For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending.