My Takes on The American Express Preferred Rewards Gold Card
American Express is one of the largest issuers of rewards credit cards within the UK, when it comes to the points system, from 'The Platinum Card' to the 'British Airways Avios Credit Card,' there's plenty to chose from.
My personal favourite card is the Preferred Rewards Gold Card from American Express. The card carries no annual fee in the first year and subjects you to benefits that mean you can reach a reward flight in no time.
In terms of points, when you spend £2,000 on the Card in the first 3 months of membership, you'll earn 20,000 Membership Reward points, which equates to 20,000 miles in all frequent flyer programs that American Express partner with. You earn points in 3 distinct categories:
- 3x points when spending with Amex Travel;
- 2x points when spending directly with airlines;
- 2x points when spending in a foreign currency (3% Forex fee applies);
- 1x point on everything else;
This means that this is the most generous American Express card in terms of points offering, beating The Platinum Card. Another nifty bonus, is upon spending £15,000 within a year on the card, you'll earn a 10,000 point bonus. This can be earned every year provided you charge £15,000 each year.
Regarding the benefits, there are more than a few things that can easily make having the card worthwhile. Firstly, you receive $75 worth of Hotel Credit to spend with many large hotel chains when you spend more than two consecutive nights there, when booking through Amex Travel.
You also receive two Lounge Key passes which make for easy lounge access, wherever there is a Lounge Key lounge. Note that you will have to pay when accessing your third lounge and all visits thereafter.
There are also lots of car hire benefits with Hertz, but they don't really benefit me since I usually go with Avis. Hertz also has many age restrictions upon rentals, whereby you must be over (23 I believe) to register.
24/7 Global Assist as well as Travel Insurance are also some nice nifty benefits offered by American Express, and are part of their World Class Service, as you'd expect.
The key thing for me here is purchase protection. American Express has by far had the best fraud prevention and return policy, covering damages and returns up to 90 days.
I'm also a big fan of Amex Offers, and it does work well in the long run. My favourite method is to combine 2 offers, a Virgin Red, buy one get one free offer on hot drinks at Cafe Nero, with the Amex 10% Statement Credit offer, which means I get 2 drinks for less than the price of 1.
So all in all, one of the best all around cards out there and one of my personal favourites, its hard to go wrong with the Preferred Rewards Gold Card, and since its free in the first year, there's no risk at all, and you can simply cancel at any time.
Anything to note?
Yes, the American Express Preferred Rewards Gold Card is a charge card and not a credit card. This means that this is not an option for revolving credit and the balance must be cleared at the end of the month. The card has no preset spending limit and does not mean unlimited spending, it means American Express' algorithm dictate what charges to allow and which ones to deny.
Also, if you would like to earn a bonus 2,000 Membership Rewards Points upon completing the aforementioned spend, then email me at pranav [at] thesavvytravellerr [dot] com for my special referral link, which I may earn a bonus from.
Overall, I rate this card very highly, given what limited cards we have in the UK, but given all the benefits and earning potential, this is one card that deserves a place in my wallet.
Till the next time,