American Express Preferred Rewards Gold Credit Card
American Express
Annual fee
£195 (£0 in your first year)
Rewards rate
1%-0%
Welcome Bonus
20,000 Membership Rewards points
Apply Now →on American Express's website
Regular APR:85.8% Variable APR
- 1%Membership Rewards points on all spending
Welcome Bonus:
New applicants can earn a welcome bonus of 20,000 Membership Rewards points by spending £3,000 in the first 3 months.
Reward Rate:
You get 1 Membership Rewards point for every £1 spent.
APR:
85.8% Variable APR
This card shines for its robust welcome bonus and the ability to earn Membership Rewards points that can be transferred to various travel partners, making it an excellent choice for frequent travelers.
Pros:
- Strong sign-up bonus
- Flexible point redemption options
Cons:
- High annual fee after the first year
- High APR
The American Express Preferred Rewards Gold Credit Card is particularly well-suited for frequent travelers who can leverage its substantial welcome bonus and the flexibility of Membership Rewards points for travel redemptions. However, those who do not travel often may find the annual fee less justifiable.