Amex unveils a £195 fee on the BA Premium Plus card – plus increased sign-up bonuses
Links on Head for Points may support the site by paying a commission. See here for all partner links.
American Express unveiled its first response to the new 0.3% cap on retailer interchange fees yesterday. It increased the annual fee on the British Airways Premium Plus card from £150 to £195.
To be fair, this increase was arguably overdue – the fee has remained steady for 13 years since the card as launched. The other benefits, including the 1.5 Avios per £1 earning rate, double Avios on BA transactions and the 2-4-1 voucher for spending £10,000 are unchanged.
I said ‘first response’ because I don’t believe that this will be the end of the changes. For a start, the logical impact of these changes is to push more people towards the free card. However, I don’t believe that American Express can make any money on the free card when interchange fees are capped at 0.3% and it is giving out 1 Avios point per £1 spent. Something will have to give.
It is possible, for now, that the contract between Amex and BA only allows changes to the annual fee and interest rates and not the other benefits. It is unlikely that we will see any further changes for a while.
To sweeten the pill, American Express has increased the sign-up bonuses on the two British Airways American Express cards.
The Premium Plus version, now with the £195 annual fee, offers 25,000 Avios instead of 18,000 Avios. You must spend £3,000 within three months to receive the bonus.
The basic, free, card now offers 9,000 Avios instead of 3,000 Avios. You must spend £1,000 within three months to receive the bonus.
The representative APR on the Premium Plus card is 76.0% variable including the fee based on a £1200 credit limit. The representative APR on the free card is 22.9% variable.
My full review of the benefits of the Premium Plus card is here. Amex’s own home page is here.
My full review of the free card is here. This is actually the most improved deal jumping from 3,000 to 9,000 Avios. Amex’s own home page is here.
Both reviews reflect the new fee structure and bonuses and also include details of the higher ‘refer a friend’ bonus which is also available.
The higher bonuses will last until 15th June.
Want to earn more points from credit cards? – April 2024 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.
You qualify for the bonus on these cards even if you have a British Airways American Express card:
Barclaycard Avios Plus Mastercard
Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review
Barclaycard Avios Mastercard
5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review
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.
British Airways American Express Premium Plus
25,000 Avios and the famous annual 2-4-1 voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review
The Platinum Card from American Express
40,000 bonus points and a huge range of valuable benefits – for a fee Read our full review
Virgin Atlantic Reward+ Mastercard
18,000 bonus points and 1.5 points for every £1 you spend 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 offers:
SPECIAL OFFER: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.
British Airways Accelerating Business American Express
30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review
American Express Business Platinum
40,000 points sign-up bonus and an annual £200 Amex Travel credit Read our full review
American Express Business Gold
20,000 points sign-up bonus and FREE for a year Read our full review
Capital on Tap Business Rewards Visa
Huge 30,000 points bonus until 12th May 2024 Read our full review
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.
Barclaycard Select Cashback Business Credit Card
1% cashback uncapped* on all your business spending (T&C apply) Read our full review
Andy 
Arun T 
Matt 
AndyGWP 
Matt W 
Chewbacca 
Rob 
Nathan 
joe 
harry 
RTS 
Tom Foxton 
Brian W 
Chris 
Alan 
Comments (109)