I know that a lot of Head for Points readers have taken out an American Express Preferred Rewards Gold card in the last few weeks as they try to top-up their Avios before the April 28th devaluation.
As a reminder, Amex Gold is free for the first year and comes with 20,000 or more Membership Rewards points (full details in my review). These can be converted into 20,000 Avios points or a whole load of other things.
If you’ve already got one, you are eligible for a further 3,000 Membership Rewards points for free.
Take a look here. You can apply for the Amex Gold credit card, to sit in your wallet alongside your Amex Gold charge card.
The representative APR is 14.9% variable.
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 for possibly 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
In theory 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.)
However, some people report that they are allowed to keep the Gold credit card. There is no pattern as to why, but if Amex allows you to do this then you do not need to empty out your Membership Rewards account.
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.
Got a Platinum charge card?
Don’t worry, there is a similar deal for you too. A while ago I wrote about the ‘private’ Platinum Credit Card from American Express which also offers 3,000 Membership Rewards points. Not to be confused with the Amex Platinum cashback cards, this card is ONLY available to Platinum charge card holders.
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.