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More American Express changes – interest rates go variable, ‘over limit’ fees scrapped

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American Express is about to announce another round of product changes.

These will impact ALL credit cards (British Airways, Starwood, Nectar, Costco, Preferred Rewards Gold etc).  The good news is that there is nothing major to worry about this time.

The changes will take place on 1st October.

American Express moving to variable interest rates

Interest rates move to variable pricing

I would hope that no Head for Points readers pay interest on their American Express credit cards.

With one exception – the ‘low rate’ version of the American Express Rewards Credit Card, see here and pictured above, which is a competitive 9.9% APR variable – the interest rates charged on Amex’s credit cards are substantially higher than you can find elsewhere.

From 1st October, interest rates will track, and change, in line with adjustments to the Bank of England Base Rate.  If there is a change in the Base Rate, American Express will adjust the interest rate on its cards within approximately 60 days.

These pricing will apply to both new and existing customers.

Good news …. the over limit fee is being removed

At present, American Express charges a £12 fee to anyone who exceeds their credit limit.

This fee will be removed on 1st October.

These changes are minor, and are actually positive for most people – I assume most readers do not pay interest, so they are net winners from the removal of the £12 fee for breaching their credit limit.

If you have an American Express credit card, you will receive a formal notification of these changes over the next few days.


earns points from credit cards

Want to earn more points from credit cards? – April 2025 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 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 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 card

Barclaycard Avios Mastercard

Get 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.

American Express Preferred Rewards Gold

Your best beginner’s card – 30,000 points, FREE for a year & four airport lounge passes Read our full review

British Airways American Express Premium Plus

30,000 Avios and the famous annual 2-4-1 voucher Read our full review

The Platinum Card from American Express

80,000 bonus points and great travel benefits – for a large 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:

American Express Business Platinum

50,000 points when you sign-up 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 Pro Visa

10,500 points (=10,500 Avios) plus good benefits Read our full review

Capital on Tap Visa

NO annual fee, NO FX fees and points worth 1 Avios per £1 Read our full review

British Airways American Express Accelerating Business

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review

Comments (67)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • fivebobbill says:

    Got an email from Amex this morning plugging a hotel sale with discounts if booked before 31st July (stay before 31st Aug).
    However, on scrolling down the page I see they are also awarding TWO Membership Rewards points for every full £1 spent on flights, pre-paid hotels, car hire and experiences booked through American Express Travel. A bit vague in the T&C’s, but I assume if spent before 31st July as well.
    This on my Amex Plat by the way…

    • David says:

      You will always get an extra MR at Amex Travel, that’s normal.

      • David says:

        Unless you mean 2 extra?

        • fivebobbill says:

          Hadn’t realised that David, only ever used Amex Travel once before and that was to avail of the £200 off £600 offer.
          I guess it’s simply the standard double points then, not awfully clear from the email though.

  • Jon says:

    I am getting really fed up with Amex Plat.. I have had a complaint raised with them since February and have not had a response. I was told I would get a written reply but when I speak to them they say we tried to call. I travel a lot and am working a contract at the moment, I do not always have my UK mobile on as I keep getting sales calls at overseas rates but Amex refuse to call an international number. In this day and age where calls are often done on VOIP and cost next to nothing this is ridiculous. I wonder how they contact their New Delhi chat line centre. Is it not Globaly yours? Don’t leave home without it? At £500+ per year it really is poor

    • Amit Puri says:

      That does sound familiar and pretty $hit from Amex, especially towards a plat holder – I’ve had these sorts of issues when communicating with their non-UK staff; utterly hopeless – Get hold of someone in Brighton and things get sorted out 100% of the time. You might have to ring them direct, UK time, get the issue resolved, give them an earful about the customer care or lack of, and pocket compo.

    • Jill ( Kinkell) says:

      My OH had issues and after months of not getting anywhere,ended up sending a fully documented written snail mail to Director of CS. Response was almost immediate. Brighton end couldn’t believe the poor level of service , listened to all the phone calls, agreed totally with my OH, points etc and compo given.. All discussed in a phone call…at a time to suit my OH… and all backed up with a 3 page letter, with profuse apologies. Keep trying and good luck.

  • JAD says:

    Hoping someone can help with a quick Amex Platinum query re sign-on bonus. The current sign-on bonus is 30k MR or 35k if referred (after spend target is reached). Was this the same before Amex put up the annual fee for new applicants and put up the spend target threshold? Thanks.

    • Anna says:

      Yes, no change on the Platinum and BAPP sign up bonuses.

      • JAD says:

        Thanks Anna, Amex CS are refusing to award me the 35k even though I was referred by my OH and she has the referral points showing on her account from my successful application. They have awarded me 30k.

        • 3742 says:

          Is it possible that you met the original target, but not the new target, and they have (incorrectly) refused the extra 5k on the basis that you have not met the new target?

          • JAD says:

            Thanks. CS haven’t been able to offer an explanation – only that the ‘back-office’ team have looked into this and according to them i’m not due the 35k. It doesn’t make sense to me as a) I applied under the old Ts & Cs requiring 2k spend which I have met by some margin, b) my OH received referral points, and c) they have awarded me 30k points. They have also awarded 5k for a supp – and this is clearly shown on my statement as being for a supp plat card.

  • BJ says:

    Datapoint: For first time ever I failed to get a bonus when adding a supp so readers may want to be patient and wait until they see offer on their account. I tried adding it to a PRG with no offer showing. Also added it for somebody at another address for first time but I doubt that makes any difference.

    • fivebobbill says:

      Something odd there BJ, we did it last week, adding me as Supp to the wife’s new Amex Plat, 5k points posted to the account in a few days, even before the card arrived…

      • BJ says:

        A few days… here’s hoping 🙂 Previously the bonus always hit my account immediately when adding a supp so I thought that was standard but hopefully will now get them in a few days.

    • BJ says:

      No, just used the add additional cardholder button inside my account.

      • BJ says:

        Thanks for that link Lee, I had never seen it before so just had a look. Saved it for use next time.

  • JB says:

    I would appreciate if anyone can give me advice re a BA complaint. 4 CW seats LHR – MIA. Done this journey twice within a month. First trip refurbished 747 everything fine. Second trip (paid for seats) dated CW cabin. One monitor with permanent pink glow so basically unwatchable. No recline on one seat and daughter moved back a row pre-boarding as a changed seat with a crew member on staff ticket. On boarding decided to decline the seat change and live with no recline as would have separated us with a stranger in our row inhibiting conversation (row 62 on upper deck).

    Wondering if worth complaining or move on life is to short? If complaint what is the best method, 2 seperate or one overall complaint and what compensation is likely?

    Any advice appreciated.

    Thank you.

    • Shoestring says:

      you’d get some Avios (10,000?) for no IFE

      Not sure you’d get any for the non reclining seat as you got offered a working seat but declined the offer, def worth the question, though, I think not wanting to be split up helps your claim

      If you pitch it pleasant but all about service recovery, I’d say 10-20K Avios

  • David S says:

    Advice on Amex. Wife has basic BA Amex and I have the old Amex gold card. Looking at getting BAPP card for both. What’s the best strategy to get most sign up bonus.

  • AeroJ says:

    Could anyone please advise on what might be the best way to earn points on a referral to an Amex ‘Corporate’ Gold? I hold Amex Pref Rewards Gold. My company (well not mine but I have significant influence) wish to switch to a points-earning cards. Can I refer them and get some points in the process? Read Rob’s article but all the recent changes have left me confused. Thanks!

    • Memesweeper says:

      Business cards can be referred to/from personal ones. Bonuses as normal.

      I’m not aware of anything for the *corporate* cards in the UK.

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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