First things first…

Amex Gold offers 20,000 Member Rewards points when you spend £3,000 over a three month period. This is the most generous sign up bonus generally available on any free UK loyalty card or credit card – although Amex Gold is only free for the first year. Member reward points can be converted 1:1 to Avios.

This means you can get 20,000 Avios points for free by applying for this card, spending enough money to trigger the sign-up bonus, then transferring the points to British Airways. The bonus is only available to customers who have not owned a personal American Express card in the last 24 months.

You get a sign-up bonus if you have an American Express corporate or business card through your work and earn membership rewards points for it. You will definitely get a bonus if you are just a supplementary cardholder with someone else’s American Express card.

For Amex, the card is primarily the property of the cardholder and does not make you a “current cardholder”. If you don’t complete the bonus, you can still claim it. You’ll still get other card benefits, including two free airport lounge tickets and “no first year fee”.

With Amex Gold, you will receive four free airport passes each year, valid at any airport in the Priority Pass network. Heathrow (including the Aspire Lounge in Terminal 5), Gatwick, Luton, and Stansted – among many others – have participating lounges, as do most of the world’s major airports.

After four free visits you can have a further salon visit for £20. £120 Deliveroo Credit, Receive £120 in Deliveroo credit annually. This equates to 2 x £5 credits per month. Get £5 cashback every time your Gold Card is charged for a £5 Deliveroo order, up to a maximum of £10 per month. Up to 12,500 bonus points annually:

You can earn up to 12,500 Membership Bonus Rewards points annually based on your total spending. The first 2,500 points come after £5,000 is spent and a further 2,500 points are awarded after every £5,000 increase, for a total of 12,500 points.

Get 10% off and additional drivers free on Hertz orders. You will receive Preferred Plus status in the Avis car rental program. There are 350 4-5 star hotels worldwide offering a $75 hotel credit and upgrades when Amex Gold cardholders make reservations through American Express Travel.

What is the annual fee for Amex Gold?

There is no fee for the first year of Amex Gold. A fee of £160 applies for future years. Personally, I find it hard to justify this cost because of the benefits, except I’m using a lot of $75 hotel credit, airport lounge tickets, and Deliveroo credits.

Since the annual fee is refunded pro rata if you cancel, there’s no rush to cancel before the due date. You can extend your membership for a number of months until you use up the four additional Priority Pass airport lounge cards that come with the renewal.

What do I earn per £1 spent on the card?

You receive 1 Membership Rewards point per £1 spent on the card. Foreign currency transactions and airline ticket purchases earn 2 points per £1. Much of the time, but not always, airline transactions which are paid for in a foreign currency earn 3 points per £1 as the offers double up. Travel bookings made via the American Express Travel website, and paid for online, earn an impressive 3 points per £1.

What is the value of the remaining prize points?

Anything from “a little” to “a lot” is the answer. I wrote this long article about the value of American Express Membership Rewards points. Realistically a Membership Rewards point is worth at least 0.8p as the new Avios partnership allows you to turn 1 point into 1.6 Nectar points. 1.6 Nectar Points worth 0.8p when spent at Sainsbury’s, Argos or eBay.

I usually rate air miles between 0.75p and 1p (that’s forfeited) so that’s your guess if you change airlines. Some hotel programs also offer good value for money. Radisson Rewards (Radisson, Park Plaza and Park Inn systems) with a ratio of 1:3 member bonuses for example.

Their top five star hotels typically cost 75,000 points per night, which is equivalent to 25,000 Membership Rewards points. This usually gives you more than 1p per value point. Other hotel partners include Hilton Honors and Marriott Bonvoy.

If you strategize, you should earn 1p per point value when you use it. Yes, as long as you earn double Membership Rewards points when you use the card overseas. However, because Amex adds a 3% foreign exchange fee, you may wish to purchase a separate credit card for use overseas.

Unfortunately, there is no credit card in the world that has 0% exchange fees and collects airline or hotel points. (Virgin Atlantic’s credit card has no exchange rate fees in the eurozone.) One option is to buy a free card from Currensea.

That is a simple but clever idea. Pay overseas with your Currensea Mastercard debit card. It converts payments to Sterling at just 0.5% (83% lower than Amex fees) and withdraws money from your bank account.

Conclusion – Is Amex Gold Worth It?

Sign Up Bonus 20,000 points EASY Membership Rewards is the most generous bonus available with a free UK credit card or payout. I recommend signing up and trying the card out, if only for the first year it’s free. Bonus, four complimentary airport lounge tickets and £120 Deliveroo credit worth buying.

For everyday spend, 1 point per £1 is fine, although of the 12,500 bonus points you can earn each year, based on increasing your total spend, your points per pound exchange rate is huge. In advantages there must be drawbacks too, a perfect credit card may or may not exist, choose a credit card according to your needs.

Some people have made a mistake when selecting a credit card and ended up regretting it, so be wise before choosing what to choose, a comparison between credit cards is very useful and certainly adds to your insight more.

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