However, with an annual fee of £195, it isn't a cheap option.
Key facts about the American Express Preferred Rewards Gold credit card
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Best for: Those who want flexibility over how they use their rewards
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Introductory offer: 20,000 membership rewards points when you spend £3,000 in your first three months.
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Representative APR: 88.8% variable
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Fees: No annual fee for the first year and then £195 per year
- Perks: Earn 1 rewards point for every £1 you spend on the card, 2 points for every £1 spent with any airline purchase (two complimentary lounge visits per year) and 3 points for every £1 spent on American Express travel
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- 26.5% APR Representative (variable)
Pros of the American Express Preferred Rewards Gold credit card
- Cardholders can transfer their points to any of 12 airline air-miles loyalty schemes, including British Airways Executive Club, Emirates Skywards and Virgin Atlantic Flying Club
- Unlike with many rewards schemes, the points don't expire
- £5 back with Deliveroo twice per month
- Take advantage of Plan It – Amex's Buy Now, Pay Later scheme – to spread the cost of a purchase or part of your balance for a fixed monthly fee
Cons of the American Express Preferred Rewards Gold credit card
- Although the annual fee is waived in the first year, it is £195 after that point, which means it is far from being the cheapest reward card available
- American Express isn't as widely accepted as Mastercard and Visa, especially with smaller retailers
How to manage your payments on the American Express Preferred Rewards Gold credit card
You can manage your account online or on the Amex app.
How to find out which credit card is best for you
We have teamed up with Creditec* to help you compare credit card deals and check your eligibility in minutes. You will be able to find out which credit cards you are most likely to be accepted for through a soft credit check, which will not affect your credit score. You can then tailor your personalised list to sort cards by the features that matter most to you. This could mean filtering for the type of credit card you want, sorting the list by the rate of interest or highlighting the cards you are most likely to be successful in applying for. You can click here to compare deals*.
How to apply for the American Express Preferred Rewards Gold credit card
The online eligibility checker will give you a good idea of whether you are likely to be accepted for the card, without leaving a footprint on your credit file.
Alternatives to the American Express Preferred Rewards Gold credit card
- Which are the best air-miles credit cards - and should I get one?
- Virgin Atlantic Reward credit card review
- Virgin Atlantic Reward Plus credit card review
- Virgin All Round credit card review
- Which is the best American Express credit card?
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