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Amex still offering the ‘secret’ Gold Rewards Plus to cancelling Platinum cardholders

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A reader emailed me last week to say that American Express tried to offer him the Gold Rewards Plus card when he called to cancel his Platinum charge card.  This is the first time in two years that I have heard of this happening – to be honest, I thought Gold Rewards Plus had bitten the dust.

As it is clearly still around, it is worth reminding you what it is and why I am not enthused by it.

Gold Rewards Plus appears to be a hybrid of the Platinum and Preferred Rewards Gold cards.  You CANNOT apply for this card directly – it is only offered to Platinum cardholders who try to cancel.

  • I understand that it comes with the same travel insurance package as the Platinum card
  • I understand that it comes with permanent double Membership Rewards points on travel and overseas purchases (as per Preferred Rewards Gold)
  • I understand that it comes with 1 year of double points on supermarket and petrol spend (as per Preferred Rewards Gold)
  • I understand that it offers 7,500 MR points each year when you renew, subject to spending £15,000 (as per Preferred Rewards Gold)
  • I understand that it offers four ‘one use’ airport lounge passes via Lounge Club (Preferred Rewards Gold offers two)

As there is no publicly available documentation of the card, do not treat what I have written above as gospel.  The annual fee for this card is £285.

Amex Gold

This is a bad deal in my view.

Basically, it is the Preferred Rewards Gold card plus travel insurance, but without a sign-up bonus or fee-free first year.

However, if you cancelled your Platinum card and waited for six months, you could apply for Preferred Rewards Gold instead.  This comes with a 20,000 point sign-up bonus (good for 20,000 Avios among other things), no fee for Year 1 and £125 thereafter.

Gold Rewards Plus has NO sign-up bonus and is £285 per year from Day 1.

If you want to know what the card looks like, it is identical to a standard Gold card.  I think you basically just get a different covering letter and some travel insurance and two extra Lounge Club passes thrown in.

You could make the case that the travel insurance is worth the extra £160 (or £130 if you value the two extra lounge passes at £30) – it depends how many supplementary cards you can issue and whether everyone is covered.  In some circumstances it might work out.

Given that Amex travel insurance now comes with extra terms and conditions (such as having to pay for flights and hotels with an Amex card to be fully covered) you may find it better value arranging your insurance elsewhere.

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Comments (7)

  • Mrs Fussy says:

    Agreed ! I have recently found it tedious to claim on my amex platinum travel insurance, and always run to HSBC premier

    • Nick says:

      Hi, i am about to make a small claim on my Amex Platinum insurance -( for doctor and medication abroad c. £70) and now see that I must submit a medical report from my doctor – in effect to state that its not a pre-existing condition.

      My gripe is that my GP wants £40 to write this letter. Disapointed, as its now an effective excess on each claim!

  • James67 says:

    When I cancelled my PRG card last October I was asked by the cs agent if there was anything he could do for me that would encourage me to keep the card or take out another. I wax to preoccupied with my plan to reapply for it about a year later that I declined, even when he asked if I was sure. Perhaps a little daft in hindsight, I should probably have played along a while to see exactly what they were prepared to offer. I have also be encouraged to stay by Barclays when cancelling IHG black card. I attempted to downgrade to the free card plus the 30k bonus points. No way, best I got was £40 statement credit which was less generous than they had been in the past but then Iwas a much more lucrative customer in the past. You can reapply after 6 months but will wait until February next year to squeeze another 2 years platinum and hopefully a decent signup promo like this year.

  • Simmo says:

    Has anybody had their Platinum supplementary card bonus’ 10,000 MR points post yet?
    Awaiting 30,000 MR bonus.

    • Rob says:

      Some people, yes. Seems to take 6 weeks or so.

    • RT says:

      I got my first “lot” (signed up mid Dec 14) but my second tranche that I signed up for in mid January 15, haven’t come through yet…