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.
- 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.
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.
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.