Return Bridges is an independent comparison site. We may earn a commission when you click through to retailers. Learn more.
Amex Gold: Is It Worth the £160 Annual Fee?
The American Express® Preferred Rewards Gold Card offers enticing rewards, but is it enough to justify the hefty £160 annual fee? Let's break down the math.
The Quick Version
The American Express® Preferred Rewards Gold Card is a strong contender for those who spend big on dining and travel. With a 56.6% variable APR and a £160 annual fee, it's not for the faint-hearted, but it does offer a £200 sign-up bonus and 21.1% rewards rate to ease the pain.
Rates shown are representative. Your actual rate depends on your credit profile. This is not financial advice.
American Express Preferred Rewards Gold
American Express card with a strong rewards program
American Express Preferred Rewards Gold
The Fine Print
According to American Express, the card sports a 56.6% variable APR and a £160 annual fee. The 21.1% rewards rate is impressive, especially with the £200 sign-up bonus. However, mind the foreign transaction fees if you're a frequent traveler. No-fee travel cards might be a better bet.
What's Actually Good
The card shines with its rewards structure. Earn points on dining and travel at a higher rate than most competitors. The sign-up bonus is a nice touch, effectively offsetting the first year's fee. Plus, Amex's customer service is top-notch, which can be a game-changer when you need help fast.
The Catch
The £160 annual fee is steep, especially if you're not maximizing the rewards. The regular APR is brutal, so carrying a balance could be costly. Also, the foreign transaction fees can quickly add up if you're traveling internationally. For those who don't spend much on dining or travel, this card might not deliver the value you're looking for.
Who Should Apply
This card is best suited for those with a good to excellent credit score (700+) who dine out frequently and travel often. If you're able to pay off your balance in full each month, you'll maximize the rewards without getting hit by high-interest rates. If you spend big on categories like groceries or travel, the rewards can justify the fee.
The Bottom Line
If you spend heavily on dining and travel, the rewards and customer service make the Amex Gold a solid choice. But if you're sensitive to fees or carry a balance, you might want to look at alternatives. Curious about other cards? Check out the Tesco Clubcard Plus to see if it fits your spending style better.
