American Express Rewards Credit Card review September 2020
A simple rewards credit card with no annual fee and an appealing welcome bonus.
The American Express Rewards Credit Card has a simple rewards plan so you can redeem your points in a large range of high street and online stores.
You say: ★★★★★We say: ★★★★★
Potential costs: 4.5/5
Doing its job: 4.5/5
In a nutshell:
Up to 5,000 points
Earn 1 point
per £1 spent
|Rep. APR||22.2% (variable)|
|Incentive||As a new Cardmember, earn 5,000 Membership Rewards® points when you spend £2,000 in your first 3 months of Cardmembership.|
|Additional Rewards Info||Complimentary one year premium membership to the sleep and meditation app Calm worth £28.99, until 31.10.20. Refund Protection (90 days to return, receive max £200 per item, max £750 per annum). Global Assist - 24/7 help available when travelling outside the UK. Access to tickets for must-see music, theatre and film events, often before they go on sale to the general public with American Express Experiences. Eligible for American Express Connect where cardmembers can choose offers from selected retailers to obtain discounts or cashback.|
|Purchases interest-free period (days)||56|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
With no annual fee, you’re free to use the Amex Rewards card as little or as much as you wish. As you’d expect, the more you use it, the better the rewards. You’ll earn Membership Rewards points on all your purchases, plus a tasty welcome bonus that’s subject to a minimum spend (which – by Amex standards at least – is easily-attainable).
As with any rewards card, if you carry a balance from month to month, what you’ll pay in interest will almost certainly outweigh what you’ll earn in rewards. Clear your balance in full each month, however, and you’ll take advantage of the card’s interest-free grace period on purchases – meaning it doesn’t have to cost you a penny.
The perks aren’t limited to just points with this deal – you’ll also benefit from travel accident insurance (subject to enrolment) plus automatic access to the American Express Invites programme, with entertainment offers like pre-sale gig tickets, access to the private American Express Lounge at The O2 and 2-for-1 drinks at The National Theatre.
As a major player in the rewards card game, Amex offers a range of cards to suit different needs. If you’re a frequent traveller and you’d expect to spend enough on the card to justify an annual fee, then the Preferred Rewards Gold Card would potentially offer greater returns. Otherwise, the Amex Rewards card makes a very respectable first foray into the world of rewards cards.
Pros and cons
- Customers report excellent customer service when dealing with American Express.
- Earn points on day-to-day spending.
- Up to 5,000 points intro bonus.
- No annual fee.
- Applicants with low credit scores are unlikely to be eligible.
How does this card compare with others that earn Amex reward points?
When it comes to repayments, you can make manual repayments online or over the phone (0800 917 8047), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for the American Express Rewards Credit Card
Simply go to the Amex website to start your application. You’ll need to provide certain personal details and financial information, but the application process should only take a couple of minutes.
Frequently asked questions
How many reward points can I earn?
What fees do I need to pay?
What is my minimum monthly payment?
How do I know if I’m eligible for a credit card?