Back in March, I wrote about the ‘private’ Platinum Credit Card from American Express. Not to be confused with the Amex Platinum cashback cards, this card was ONLY available to Platinum charge card holders.
American Express has now launched something similar for American Express Preferred Rewards Gold cardholders.
Take a look here. You can now apply for the Amex Gold credit card, to sit in your wallet alongside your Amex Gold charge card.
Why would you want this? Well, there is one good reason – you receive 3,000 Membership Rewards points for signing up! As the Amex Gold credit card is free, you are getting points for literally nothing (except a ding on your credit report).
There isn’t much else to add:
You need to spend £500 in three months to receive the 3,000 Membership Rewards points
You will earn 1 Membership Rewards points for each £1 spent
There is no annual fee
You must cancel your Gold credit card if you cancel your Gold charge card. The Gold credit card is not available as a stand-alone product. (This is important, as otherwise it would be an easy way of keeping your Membership Rewards account active if you chose to cancel your charge card.)
Is there much point to having this card? Fundamentally, Amex is encouraging you to run up debt that you cannot afford to instantly repay (otherwise you would use your charge card). It will make your wallet thicker without adding any extra flexibility to how you spend, since it can’t be used anywhere where your Amex Gold isn’t accepted.
That said, 3,000 Membership Rewards points is worth having – that is 3,000 Avios or Virgin Flying Club miles.
It appears that you don’t need to have received the mailshot from Amex to apply for this – any Amex Gold holder can sign up.
PS. Ignore the reference on the website to ‘Platinum Credit Card’ – this is a typo from Amex!
PPS. If you don’t already have an American Express Preferred Rewards Gold charge card, I suppose you could see this as an additional 3,000 points for getting one! Remember that the card is free and you get 20,000 points for signing up, and you will then be able to pick up this card for the extra 3,000 points. Find out more in my review here.
(To see our complete list of all current credit card bonuses, click here to visit our ‘Credit Cards Update’ page or use the link in the menu bar at the top of the page.)