Maximise your Avios, air miles and hotel points

Thinking of cancelling your American Express Gold or Platinum card?

Links on Head for Points may support the site by paying a commission.  See here for all partner links.

This article looks at the American Express Rewards Credit Card. This is a little known member of the Amex family which, in one scenario, can prove incredibly useful..

One of the downsides of cancelling American Express Preferred Rewards Gold or The Platinum Card is that you are required to empty out your Membership Rewards points account. If you don’t, your points will be lost.

However ….. is there a free way to keep your Membership Rewards points alive when cancelling an American Express Gold or Platinum card?

Yes.  (OK, you probably guessed I was going to say that!)

Thinking of cancelling your American Express Gold or Platinum card?

You shouldn’t transfer Membership Rewards points until you are about to book

Having to close your Membership Rewards points account can lead to a dilemma over when to cancel your Preferred Rewards Gold or Platinum card.  

You will be paying £16 per month after the free first year to keep an American Express Preferred Rewards Gold card active and £54 for The Platinum Card.  However, this allows you to keep your Membership Rewards points where they are.  If you are forced to transfer them because you close the account, you may regret it later.

Because American Express Membership Rewards points can be transferred to many different airline and hotel partners, they are more valuable than airline or hotel points.  You shouldn’t convert them until you need them.

Can you keep your Membership Rewards points when cancelling an American Express card?

There is a solution that:

  • lets you keep your Membership Rewards points account open, and
  • allows you to stop paying an annual fee for either the Gold or Platinum credit cards

This card is the answer:

American Express Rewards Credit Card

You can apply for the little-known American Express Rewards Credit CardFull details are on the American Express website here.

This card has NO ANNUAL FEE and lets you collect Membership Rewards points.

For simplicity, I will occasionally refer to this card as ARCC as ‘American Express Rewards Credit Card’ is a  bit of a mouthful.

What is the American Express Rewards Credit Card?

ARCC is a standard Amex-branded credit card.  Here are the headline details and legally required interest rate information:

American Express Rewards

Bonus: 10,000 points

Read our full review

Other information:

  • Your best choice if you want a ‘free for life’ card which earns Membership Rewards points
  • A good choice if you want to close a Gold or Platinum card but keep your points intact
  • Annual fee: Free

Representative 31.0% APR variable

See if you qualify for the 10,000 points sign-up bonus +

You will receive 10,000 American Express Membership Rewards points as a sign-up bonus on the American Express Rewards card if you spend £2,000 within 90 days of signing up.

Membership Rewards points are hugely flexible. You can transfer them into Avios, Virgin Flying Club or other airlines (at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.

To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.

You are OK if you had a supplementary card on someone else’s American Express account.

You are OK if, currently or in the previous 24 months, you have held a Business American Express card.

For clarity, you can still apply for the American Express Rewards card even if you do not qualify for the bonus.  You may want to do this if you are thinking of swapping your Preferred Rewards Gold or Platinum card for a free alternative, and would prefer to keep your existing Membership Rewards points balance alive.

Learn more about the card benefits +

American Express Rewards is the only ‘free for life’ American Express card which lets you collect Membership Rewards points.

We do NOT recommend this card if you would also qualify for the sign-up bonus on American Express Preferred Rewards Gold.  The Gold card is free for the first year, comes with four free airport lounge passes and £120 of Deliveroo credit and has a higher sign-up bonus of 20,000 points.

The best reason to get American Express Rewards is if you are coming to the end of your free first year with American Express Preferred Rewards Gold, or no longer want to pay the fee on The Platinum Card, but want to keep your Membership Rewards points intact.

You need a minimum personal income of £20,000 to apply for the card.

It has no annual fee and no substantial benefits, except for the ability to collect Membership Rewards points at 1 point per £1 spent.

It is unlikely that many Head for Points readers will qualify for the 10,000 points sign-up bonus because you cannot have held any Membership Rewards cards in the previous 24 months.  That will exclude anyone who has, or has recently had, a Gold or Platinum Amex card.

Don’t worry about that.  You may still want to get this card even though you won’t get a bonus.

Get the ARCC card if you are planning to cancel Amex Gold or Platinum

If you currently have an Amex Green, Gold or Platinum card and want to cancel it but do not want to cash in your Membership Rewards points, this card is your answer.

Apply for the Amex Rewards Credit Card.  Once it is active, you can cancel your Preferred Rewards Gold card or The Platinum Card safe in the knowledge that your Membership Rewards points are safe.

The only ‘snag’ is that you will not have reset the 24 month clock on being able to reapply for a new Gold or Platinum card and receive another sign-up bonus.  In order to do that you need to close down your Membership Rewards account entirely.

For a lot of people, though, being able to keep your existing Membership Rewards balance alive will be more important.

You can apply for the FREE American Express Rewards Credit Card here.

(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’ 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. The site discusses products offered by lenders but is not a lender itself. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as an independent credit broker.

Comments (40)

  • ChasP says:

    asked this earlier but seems to have disappeared ??
    does this card have a minimum income requirement?
    Now retired and despite no mortgage or dependants so lots of disposable income I won’t qualify for a new BAPP or Plat card

  • FatherOfFour says:

    Mrs is thinking of ditching the gold now and getting the blue, but we want to maximise the bonus points before closing. We’ve spent over £5k since our last 2500pt bonus, so in theory it is due, but I seem to recall there may be some exclusions as to eligible spend. (eg foreign spend?) Can’t find the detailed rules anywhere…. anyone know the exclusions?

  • Elizabeth says:

    Help me too today

  • Damian says:

    Hi, newish to all the transferring of points scenarios! I’ve had the Plat Amex for 11months and hold 100k points. Was going to close to avoid next annual fee and just transfer Amex points to either Marriott rewards (where I’m lifetime plat status) or Avios (Just blue basic status) to use at a later date.
    Why is it better to keep alive Amex points until needed? Is there a previous article on this?
    Was going to refer my wife for Amex plat in year 2 then our limited company’s in years 3 & 4 then back to me in year 5 and so on so that each on us and each company has the 24 month break in between holding cards! Would being a additional card holder allow me to keep points alive and not transfer them to MR or Avios?
    Thanks in advance for any help.

Leave a comment

Your email address will not be published. Required fields are marked *

Please click here to read our data protection policy before submitting your comment

The UK's biggest frequent flyer website uses cookies, which you can block via your browser settings. Continuing implies your consent to this policy. Our privacy policy is here.