American Express Preferred Rewards Gold Credit Card: Maximise Rewards, Enjoy Exclusive Perks & Travel Protection

The American Express Preferred Rewards Gold Credit Card stands out as a premier choice for individuals who are eager to earn rewards while managing their finances efficiently. Its importance lies not only in the vast array of rewards and perks it offers but also in the flexibility it provides to cardholders in terms of loan options and payment plans.
Whether you are a frequent traveller, a shopaholic, or someone who simply wants to make the most of their daily purchases, this card can offer significant value. With benefits like points on every purchase, access to exclusive experiences, and a robust insurance package, it’s no wonder this card is highly regarded in the UK market.
The History of American Express
American Express, often known simply as Amex, is a well-established financial institution with a rich history dating back to its founding in 1850. Originally established as an express mail business in New York, the company quickly expanded its services to financial products. By the early 20th century, American Express had introduced its first traveller’s cheque, which became immensely popular among international travellers.
Over the decades, Amex has continued to innovate, introducing its first charge card in 1958 and subsequently diversifying into credit cards, financial services, and travel services. Today, American Express is recognised globally, serving millions of customers with a range of products and services designed to meet their financial needs. The Preferred Rewards Gold Credit Card is one of the many offerings that reflect the company’s commitment to providing value and convenience to its customers.
Benefits of the American Express Preferred Rewards Gold Credit Card
Rewards Points
The American Express Preferred Rewards Gold Credit Card offers an extensive rewards program that allows cardholders to earn points on virtually every purchase. You can earn 1 Membership Reward point for every £1 spent, which can be redeemed for a wide range of rewards, including shopping, travel, and entertainment. Additionally, cardholders can earn 2x points on purchases made directly with airlines and in foreign currency, and 3x points on bookings made through American Express Travel.
Exclusive Offers and Experiences
Cardholders are granted access to a variety of exclusive experiences and offers. For instance, you can enjoy four complimentary Priority Pass airport lounge visits each year, which is a valuable perk for frequent travellers. The card also provides access to unique events, such as behind-the-scenes tours, special Q&A sessions, and masterclasses that are tailored to Gold Cardmembers. Moreover, cardholders can benefit from exclusive offers on dining through the Deliveroo partnership, where you receive £5 back on eligible purchases twice every month.
Purchase and Travel Protection
The card comes with comprehensive purchase protection, which covers items that are stolen or damaged within 90 days of purchase, up to £2,500 per eligible item. It also offers refund protection, providing reimbursement if a retailer refuses to accept a return within the same period.
Travel insurance is another notable feature, with Travel Accident Insurance covering up to £250,000 and Travel Inconvenience Insurance up to £200 when you book your travel with the card.
Loan Options and Instalment Plans
Flexible Payment Options
The American Express Preferred Rewards Gold Credit Card provides flexible payment options to its users. Cardholders can choose to pay off their balance in full each month to avoid interest charges or opt for a minimum payment to manage cash flow.
The card’s representative APR is 88.8% variable, with a purchase rate of 31.0% variable. It is important to note that these rates can be high if the balance is not paid off in full, so managing payments wisely is crucial.
Plan It™ Instalment Plans
Amex offers the Plan It™ instalment plan, which allows cardholders to spread the cost of purchases over £100 into monthly instalments with a fixed fee, instead of paying interest. This feature provides transparency and predictability in payment amounts, making it easier to budget for larger expenses. The instalment plan does not require additional applications or credit checks, and you continue to earn rewards on these purchases as you normally would.
Eligibility for the American Express Preferred Rewards Gold Credit Card
Eligibility Criteria
To apply for the American Express Preferred Rewards Gold Credit Card, applicants must meet several key criteria. Firstly, you must be at least 18 years old and have a current UK bank or building society account.
A permanent UK home address is also required. Additionally, applicants should have no history of bad debt, ensuring that the credit history aligns with the bank’s standards. Finally, it’s important to note that you will not be eligible for the Welcome Bonus if you currently hold or have held any personal American Express Card in the past 24 months.
Interest Rates and Fees
The card comes with an annual fee of £195, which is waived for the first year. The interest rate is variable, with a representative APR of 88.8%. While the fees and rates are significant, the benefits and rewards can outweigh the costs for those who use the card frequently and responsibly.
How to Apply
Application Process
Applying for the American Express Preferred Rewards Gold Credit Card is straightforward and can be completed online in a matter of minutes. Here are the steps to follow:
- Visit the American Express Website: Navigate to the official American Express website here.
- Complete the Online Form: Fill out the online application form with your personal and financial details. This will include your name, address, employment status, and income information.
- Review and Submit: Once you have completed the form, review your information to ensure accuracy, then submit your application.
- Await a Decision: After submitting your application, you will typically receive a decision within 60 seconds. If approved, your card will be dispatched to your address.
Opinion and Additional Tips
Pros and Cons
The American Express Preferred Rewards Gold Credit Card is an excellent choice for those who can take advantage of its rewards and perks. The ability to earn points on every purchase, coupled with access to exclusive experiences and comprehensive insurance coverage, makes it a strong contender in the credit card market.
However, the high APR and annual fee may be deterrents for some. It’s best suited for individuals who can pay off their balance in full each month and who will use the card frequently enough to justify the costs.
Environmental Impact
While the card itself does not directly promote environmental sustainability, American Express has been making strides in this area. The company has initiatives to reduce its carbon footprint and has committed to several environmental goals, including achieving net-zero carbon emissions by 2035.
Cardholders who are conscious of their environmental impact might also consider offsetting their carbon footprint through their spending or by supporting eco-friendly projects.
Customer Service
American Express provides several channels for customer support, ensuring that cardholders can get assistance whenever they need it. Here are some of the ways to contact them:
- Phone Support: Call the customer service hotline at 0800 917 8047.
- Website: Visit the American Express UK website.
- Live Chat: Access live chat support through the American Express website or app for immediate assistance.
- Social Media: Reach out to American Express UK via their official social media channels for updates and support.
- Mobile App: Use the Amex app for account management and support.
Conclusion
The American Express Preferred Rewards Gold Credit Card offers a compelling mix of rewards, benefits, and flexible payment options, making it an appealing choice for many UK residents. Whether you’re looking to earn points on everyday purchases, enjoy exclusive experiences, or take advantage of comprehensive insurance coverage, this card can meet a variety of financial needs. However, it’s essential to weigh the costs and benefits to ensure that it aligns with your spending habits and financial goals.
Want to learn more? Discover additional credit cards tailored for UK residents on our site.