American Express Preferred Rewards Gold Credit Card review 2021

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A premium rewards card with a variety of enticing perks to suit big spenders and frequent flyers.

There's no getting away from it: a gold Amex is quite a statement. In the Finder offices we call this one the "Am-Flex". If you use your credit card heavily but don't carry a balance from month to month, Amex's Preferred Rewards Gold Card really can offer meaningful benefits – including airport lounge access and reward points by the truckload.

You say: ★★★★★We say: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a. with an annual fee of £140 (£0 in first year), your representative APR is 56.6% APR (variable).

Earn 2 points

per £1 spent with select partners

Earn 1 point

per £1 spent elsewhere

Up to 20,000 points

Intro bonus

56.6%

Representative APR

Details

IssuerAmerican Express
NetworkAmex
Rep. APR56.6% (variable)
Annual/monthly feesYear 1 - £0, Year 2 onwards - £140 per annum
Loyalty schemePoints
IncentiveNew Cardmember offer: Earn 20,000 Membership Rewards® points when you spend £3,000 in your first three months of Cardmembership.
Additional Rewards InfoAccess to tickets for must-see music, theatre and film events, often before they go on sale to the general public with American Express Experiences. Travel accident insurance on public transport when tickets are charged on the card. Global Assist support 24/7 when you travel outside of the UK. Eligible for American Express Connect where cardmembers can choose offers from selected retailers to obtain discounts or cashback. Cardmembers are eligible for two £5 vouchers per month (£10 total), when they spend at Deliveroo on their Gold Card.
Lounge access2 complimentary visits every year, plus membership of Priority Pass, allowing further access at £20 per visit.
Purchases22.2%
Purchases interest-free period (days)56

How premium is it?

When we received this card at the Finder office, there were some murmurs of “I thought it would be more… gold”. It’s a sort-of deep gold – less bling than it could have been, but when it catches the light you’ll want your sunnies at the ready.

Plenty of card issuers throw the terms “gold” or “platinum” around without really meaning it, but Amex’s Preferred Rewards Gold Card does stay true to the original concept. It offers meaningful rewards for people who use their credit card heavily and aren’t deterred by an annual fee. This is the network’s preferred card: they’d prefer you to take this one over one of the more entry-level products.

A close-up of an Amex gold rewards card
The Preferred Rewards Gold resplendent in all its golden gloriousness Finder UK

New applicants will benefit from a waived fee in the first year plus a lump sum of Membership Rewards points (subject to a minimum spend) that could potentially be redeemed for a free flight. From then on, it’s points on all purchases, annual anniversary bonuses and ongoing benefits like American Express Experiences. Frequent travellers can take advantage of perks including hotel room or car hire upgrades and airport lounge access.

You can track your spending in real time and watch your points piling up (hopefully!) in Amex’s very respectable mobile app. The app also lets you turn on/off a range of handy alerts – you can get updates whenever a purchase is made, when you’re within a specified amount (you choose the amount) from your credit limit, when your statement’s ready and when a payment’s due (again, you get to specify how much notice you want). You can also browse and activate offers for nearby merchants.

You can also hook the card up to Apple Pay, or just use Amex Pay if you’re on Android, but in our opinion this is a card that deserves to be seen!

How does the lounge access work?

Within a few days of your new card landing you’ll be sent another – your Priority Pass membership card. This is the one you’ll need to get into a lounge (not your credit card – that won’t work). Amex has a network of VIP lounges covering 300+ airports worldwide. Your first two lounge visits each year are on Amex. After that you’ll need to pay a small fee.

We put the lounge access deal to the test at Gatwick’s No.1 lounge and had no problems at all.

Which lounges will I be able to access?

Here’s a list of Priority Pass lounges around the world. You can search for the specific country or airport that you’re heading to.