Amex Gold is the card most people start with when they get into points and miles. It's free for a year, the welcome bonus is unusually generous right now, and the points convert to Avios and a dozen other airline and hotel schemes. Here's what you get, what it costs after year one, and who should keep it.
Key takeaways
- £0 in year one, then £195 a year. Representative 85.8% APR variable, purchase rate 29.1% variable (assumed £1,200 limit). Credit is subject to status.
- Referral bonus: 35,000 points + £100 Selfridges eGift card for £3,000 spend in three months, if approved by 12 January 2027 (Brit Brief). The public offer without a referral is 30,000 points plus the £100 Selfridges card until the same date, and the usual offer is 20,000 points (American Express).
- Earn 1 point per £1, with double points on purchases made directly with airlines.
- Four Priority Pass lounge visits a year and up to £120 a year of Deliveroo credit, according to Head for Points.
- No bonus if you've held a personal Amex that earns Membership Rewards in the last 24 months.
What do you get with Amex Gold?
The American Express Preferred Rewards Gold Card (Representative 85.8% APR variable, credit subject to status) is a rewards credit card that earns Membership Rewards points. These are the main features, from Head for Points and Money to the Masses:
| Feature | Amex Gold |
|---|---|
| Annual fee | £0 in year one, then £195 |
| Representative APR | 85.8% variable (includes the fee) |
| Purchase rate | 29.1% variable |
| Welcome bonus (referral) | 35,000 points + £100 Selfridges eGift card for £3,000 spend in 3 months, to 12 Jan 2027 |
| Welcome bonus (public) | 30,000 points + £100 Selfridges for £3,000 spend in 3 months (to 12 Jan 2027); usually 20,000 |
| Earn rate | 1 point per £1; 2 per £1 direct with airlines |
| Lounges | 4 Priority Pass visits a year |
| Other perks | Deliveroo credit (up to £120 a year), hotel credit on selected stays |
| Foreign spending | 2.99% non-sterling fee |
| Minimum income | £20,000 |
How much is the Amex Gold welcome bonus worth?
Membership Rewards points convert to Avios at 1:1, so 35,000 points become 35,000 Avios, plus the 3,000 points you earn on the qualifying spend. Head for Points values airline miles at roughly 0.75p to 1p each. On that basis, those 38,000 points are worth about £285 to £380 in flights, plus the £100 Selfridges gift card, for a card that costs nothing in its first year.
The referral offer is 5,000 points more than the current public offer and 15,000 more than the usual 20,000, but you need to apply through a referral link from an existing Gold cardholder. You can apply for Amex Gold with our referral link; the exact offer is shown on the application page before you apply.
Take Action: Only apply if you can comfortably spend £3,000 in three months on things you'd buy anyway, and clear the balance in full each month.
What are Membership Rewards points worth?
It depends on how you use them. The best value usually comes from transferring to airline schemes:
- Avios (British Airways, Iberia, Aer Lingus) at 1:1
- Virgin Flying Club, Flying Blue (Air France-KLM), Emirates Skywards and others
- Hilton Honors and Marriott Bonvoy hotel points
You can also use points for statement credit or shopping vouchers, but that typically gives much less value per point. Our Amex points strategy explains how to get the most from each transfer partner.
Put your own numbers in to see what a year of spending could earn:
- Monthly card spending£1,000
- Points value (% of spend)0.85%
- Annual fee from year two£195
Is Amex Gold worth keeping after year one?
For many people, no. At £195 a year, the ongoing earn rate of 1 point per £1 doesn't justify the fee on its own. You'd need to spend around £23,000 a year for the points alone to cover it at 0.85p each.
It can still be worth keeping if you'd use:
- The Deliveroo credit (up to £120 a year), if you order regularly
- The four Priority Pass visits, if you'd otherwise pay for lounges
- Double points on airline purchases and the hotel credit
If not, the usual approach is to cancel before your second annual fee and move your spending to a no-fee card. Amex refunds annual fees pro rata if you cancel part-way through a year. You can then requalify for a new Gold bonus 24 months after closing.
Amex Gold vs other Amex cards
| Gold | Platinum | BA Premium Plus | Rewards Credit Card | |
|---|---|---|---|---|
| Annual fee | £0, then £195 | £650 | £300 | £0 |
| Earns | Membership Rewards | Membership Rewards | Avios | Membership Rewards |
| Earn rate | 1 per £1 | 1 per £1 | 1.25 Avios per £1 | 1 per £1 |
| Lounges | 4 visits a year | Unlimited | None | None |
If you'd rather earn Avios directly and use a 2-4-1 Companion Voucher, the BA Premium Plus card may suit you better. For a full side-by-side with Platinum, read Amex Gold vs Platinum.
Eligibility and the 24-month rule
To apply for Amex Gold you need to be over 18, have a UK address and a personal income of at least £20,000. You won't get the welcome bonus if you've held a personal Amex card that earns Membership Rewards (including Gold, Platinum and the Rewards Credit Card) in the previous 24 months. British Airways, Marriott and Nectar Amex cards don't count against you.
A new credit application leaves a hard search on your credit file. Our credit score guide explains how to keep your score healthy, and our guide to Amex welcome bonuses covers the timing rules across all cards.
Things to watch out for
- Interest is expensive. At 29.1% variable, carrying a balance wipes out the value of the points. Only use a rewards card if you clear it in full each month.
- Acceptance. Amex is accepted at most large UK retailers but not everywhere.
- Foreign spending fee. Amex charges 2.99% on non-sterling spending, so use a fee-free card abroad.
- The annual fee from year two. Set a reminder to review the card before your anniversary.
FAQ
Is the Amex Gold card free?
Amex Gold is free for the first year, then costs £195 a year. The Representative APR is 85.8% variable, including the fee, with a 29.1% variable purchase rate. You can cancel before the second year's fee and receive a pro rata refund if you've already been charged.
What is the Amex Gold welcome bonus?
Through a referral, Amex Gold currently offers 35,000 Membership Rewards points plus a £100 Selfridges eGift card when you spend £3,000 in the first three months, for applications approved by 12 January 2027. Without a referral, the public offer is 30,000 points plus the £100 Selfridges card until the same date, and usually 20,000 points.
Can I convert Amex Gold points to Avios?
Yes. Membership Rewards points from Amex Gold transfer to British Airways Avios at a rate of 1:1, as well as to other airline and hotel schemes such as Virgin Flying Club, Flying Blue and Hilton Honors. Transfers usually arrive within a few days.
What income do you need for Amex Gold?
You need a minimum personal income of £20,000 to apply for Amex Gold in the UK, as well as being over 18 with a UK address. Approval depends on your credit history and Amex's own checks. Credit is subject to status.
Should I cancel Amex Gold after the first year?
If you don't use the Deliveroo credit, lounge visits or airline double points, cancelling before the £195 fee usually makes sense. Amex refunds the fee pro rata if you cancel shortly after it's charged. You can apply for a new bonus 24 months after closing.
The bottom line
Amex Gold is one of the best free-for-a-year rewards cards in the UK, and the current 35,000-point referral bonus plus a £100 Selfridges card makes it unusually good value. Use it for a year, collect the bonus, then decide whether the perks justify £195.
If you can clear your balance each month and hit the £3,000 spend, apply for Amex Gold with our referral link before 12 January 2027. Representative 85.8% APR variable. Credit is subject to status.