Over Easter, I will be answering a number of the reader questions that were submitted via this article. If you didn’t take part this time, don’t worry as I will be re-running this feature in the Summer. Feel free to expand on or critique my answer using the Comments section below!
Today’s question is from Mark Ross who asked:
“I currently have a Lloyds Premier Amex but am looking to move to the BA Amex. Do you know if you can go straight from one to the other or do you have to close one down and wait a certain length of time to apply for the next one. I realise that it is two different card issuers but both are Amex and both offer bonus Avios.”
‘It is no problem’, is the quick answer.
The long answer is that I spend a lot of time on Head for Points listing ‘conflict of interest’ rules which stop you getting a certain credit card bonus if you already have a similar credit card.
American Express is the main culprit. The main rule they have is that you cannot apply and receive a bonus on the Platinum or Preferred Rewards Gold charge cards if you already have – or have closed within the last 6 months – a Platinum, Gold or Green Amex.
Both Lloyds TSB and Amex also refuse to give you a bonus if you upgrade (or indeed downgrade) directly from their free Avios card to the higher-earning paid version.
In Mark’s case, however, there is no problem.
As he points out, the Lloyds (and MBNA) American Express cards have nothing to do with American Express in terms of your customer relationship. If you apply for the Lloyds Avios cards, what matters to Lloyds is your current credit exposure to them via any other Lloyds credit cards, not how many Amex-issued Amex cards you may have.
The only thing to remember is that – when Mark applies for the BA Amex – the fact that he has another active credit card with another issuer will obviously be taken into consideration.
American Express often gives ludicrously high credit limits, which can hurt your chances of getting other credit cards. If you have a £20,000 limit but never spend more than £3,000 a month, you should consider cutting your limit (you can do it online) to something like £5,000 – this make it a lot easier to get other credit cards.
Want to earn more points from credit cards? – January 2021 update
If you are looking to apply for a new credit or charge card, here are our January 2021 recommendations based on the current sign-up bonus.
British Airways American Express
5,000 Avios for signing up, no annual fee and a companion voucher for spending £20,000 Read our full review
British Airways American Express Premium Plus
25,000 Avios and the UK’s most valuable credit card perk – the 2-4-1 companion voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 20,000 points, FREE for a year & two airport lounge passes Read our full review
The Platinum Card from American Express
30,000 points and an unbeatable set of travel benefits – for a fee Read our full review
Virgin Atlantic Reward+ Mastercard
15,000 points bonus and the most generous non-Amex for day to day spending 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:
American Express Business Gold
20,000 points sign-up bonus and free for a year Read our full review
American Express Business Platinum
40,000 points sign-up bonus and a long list of travel benefits Read our full review
British Airways Accelerating Business American Express
Earn both Avios and BA On Business points with your business spending Read our full review
Capital On Tap Business Rewards Visa
The most generous Avios Visa or Mastercard for a limited company Read our full review
Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points and do not consider interest rates, service levels or any impact on your credit history. By recommending credit cards on this site, I am – technically – acting as a credit broker. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as a credit broker.