If you add the (free) Platinum credit card or (free) Gold credit card to your account, you will receive 3,000 Membership Rewards points.
To see this offer, you need to log in to the statement page on the American Express website, desktop or mobile version. It is not on the American Express app.
You should see a banner ad at the top of the statement page together with a link to click to apply. Most people appear to have it although I doubt everyone will see it.
The representative APR on both credit cards 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 or Amex Plat credit cards are free, you are getting points for literally nothing (except for, presumably, 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 credit card if you cancel your Gold or Platinum charge card.
However, some people report that they are allowed to keep their credit card when cancelling the charge 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 – although you won’t reset the six month clock on when you can reapply for a charge card until you do.
Is there much point to having this card for the long term? No.
Fundamentally, Amex is encouraging you to run up debt that you cannot afford to instantly repay, otherwise you would use your charge card instead. 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 or Platinum charge card isn’t already accepted.
If you DO pay interest on your credit card bill every month, then you do NOT want to be doing it on this card given the 14.9% interest rate. There is only one low rate credit card which also offer points and that is the Tesco Clubcard Low Rate MasterCard. This lets you earn Avios points or Virgin Flying Club miles, if you convert the Clubcard points, and has a market leading low interest rate of 5.9% variable. You can apply for the Tesco Low Rate MasterCard here.
3,000 Membership Rewards points is worth having – that is 3,000 Avios or Virgin Flying Club miles. Just don’t start running a balance on the card and paying 14.9% interest.
(Want to earn more miles and points from credit cards? Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Cards Update’ link in the menu bar at the top of the page.)
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.