15,000 Amex points for upgrading your Gold to Platinum – worth it?

American Express has sent an offer to some Preferred Rewards Gold cardholders offering them 15,000 Membership Rewards points if they upgrade to American Express Platinum.

Even if you did not receive this offer, it still seems that you can still take part – you are directed to this generic Amex website which appears open to any Amex Gold customer.

Is this a good deal?

Ordinarily, I would say ‘No’.  If you are interested in the Platinum card and already have an Amex Gold, the most effective thing to do would be to cancel your Gold card, wait 6 months and then make a fresh application for Platinum.

Because of the 6 month gap, you will qualify for the full sign-up bonus, which is currently 30,000 Membership Rewards points. This is obviously better than just 15,000 points.

However …..

At the moment, there is a good reason to consider Amex’s 15,000 point offer.

As I wrote here, the Cathay Pacific Gold card will cease to be an Amex Platinum benefit from 15th February.  As this card gives you almost all of the benefits of a British Airways Executive Club Silver card, including British Airways lounge access, it is well worth having.

If you currently have an Amex Gold, cancelling and waiting 6 months to apply for Platinum will be too late – the Cathay deal will have disappeared.

If you are an Amex Gold cardholder and are interested getting a Cathay Pacific Gold, this is a pretty good offer.

Remember that, whilst Platinum has a £450 annual fee, it is refunded pro-rata when you cancel.  You only need to spend £1,000 to trigger the 15,000 bonus points for upgrading, and you can order your Cathay card as soon as your Amex Platinum arrives.

If you found that the Platinum benefits didn’t work for you after 2-3 months, you could cancel for a fee refund – you would only be £75 – £110 out of pocket.  You would still have the extra 15,000 Membership Rewards points and the Cathay Pacific Gold card would remain valid for the full year.

The upgrade link is here if you are interested.  The Comments below suggest that your existing Gold card is immediately upgraded, so you will not have a separate Gold and Platinum card going forward.

The general American Express Platinum website, with more details on the card, is here.

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Want to earn more points from credit cards? – March 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.

SPECIAL OFFER: Successfully apply for either of the Barclaycard Avios credit cards by 2nd April 2023 and you will be entered into a free draw to win ONE MILLION AVIOS! Full details are on the application forms here (free) and here (paid). This competition is exclusive to Head for Points readers. T&C apply.

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.

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:

Until 30th March 2023, the sign up bonus on American Express Business Platinum is increased to 120,000 Membership Rewards points – click here. The bonus on American Express Business Gold is increased to 60,000 Membership Rewards points – click here. T&C apply, see the application forms for details.

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.