Which Amex Reward Credit Card Is Right for You?

How Amex Reward Cards Work

Amex reward cards give you points or cashback every time you spend. The points (called Membership Rewards on some cards or Avios on others) can be redeemed for:

• Flights or hotel stays

• Shopping or gift cards

• Cashback on your balance

The key is understanding the value of your points. As a rule of thumb:

• 1 Amex Membership Rewards point = roughly 0.45p–1p, depending on how you redeem it.

• 1 Avios point = roughly 0.8p–1.2p, depending on the route and time you book.

So if you earn 10,000 Amex points, you’re typically looking at £45–£100 in real-world value.

If you’re new to this, check out our full guide on how to build the best points strategy for maximising your rewards across different cards.

The Main Amex Reward Credit Cards in the UK

1. Amex Platinum Card

• Annual fee: £650

• Rewards: 1 point per £1 spent

• Welcome offer: Around 30,000 points when you spend £4,000 in 3 months

• Perks: Lounge access, global travel insurance, hotel elite statuses, £150 annual dining credit

Is it worth it?
You’d need to spend roughly £65,000 per year to earn £650 in reward value (1 point per £1 at 1p value). For most people, that’s unrealistic — so this card only makes sense if you use the travel perks. The airport lounge access alone can easily be worth £400+ a year if you fly regularly, and the insurance package is top-tier.

Best for: Frequent travellers and business owners who can use all the perks.

Not worth it if: You rarely travel or don’t use lounges — the fee outweighs the benefits fast.

2. Amex Preferred Rewards Gold Card

• Annual fee: £195 (free for the first year)

• Rewards: 1 point per £1 (2x on airlines, foreign currency and travel via Amex Travel)

• Welcome offer: 20,000 points after £3,000 spend in 3 months

• Perks: 2 airport lounge passes, £120 Deliveroo credit, travel discounts

Value analysis:
If you spend £10,000 per year, you’ll earn about 10,000 points (£45–£100 of value). Add the welcome bonus (worth around £100–£200) and the Deliveroo credit, and the first year can easily be worth £250–£350.

But after year one, the £195 fee starts to eat into your return unless you travel frequently or spend £20,000+ annually.

Strategy tip: Many smart users start with the Gold Card for the free first year and welcome bonus, then cancel before renewal. After a year off, you can often reapply and earn another bonus.

Best for: Regular spenders (£10k+ annually) who want travel flexibility and value without a huge fee.

Not worth it if: You don’t travel or won’t use Deliveroo or lounge passes.

3. British Airways Amex Cards

Both BA cards earn Avios points, which can be redeemed for British Airways flights or upgrades.

British Airways Amex (Free)

• Annual fee: £0

• Rewards: 1 Avios per £1 spent

• Companion voucher: After £12,000 annual spend

If you spend £12,000, you’ll earn 12,000 Avios, worth roughly £100.
The companion voucher, however, is the real benefit — it lets you bring a second traveller for free when you book a reward flight using Avios (you just pay taxes and fees).

Best for: Beginners or light spenders who want to dip into Avios without paying fees.

Not worth it if: You won’t hit the £12,000 spend to earn the voucher.

British Airways Amex Premium Plus

• Annual fee: £300

• Rewards: 1.5 Avios per £1 spent

• Welcome offer: ~25,000 Avios for £3,000 spend

• Companion voucher: After £10,000 spend (usable in any class)

Value analysis:

At £10,000 spend, you’d earn 15,000 Avios (worth about £120) plus a companion voucher that can be worth hundreds if you fly long-haul business class. The welcome bonus alone is worth roughly £200+.

If you take even one flight a year with a partner, this card can easily pay for itself.

Best for: Regular BA travellers who’ll use the companion voucher.

Not worth it if: You fly budget or rarely use BA.

4. Amex Cashback Cards

Amex Cashback Everyday

• Annual fee: £0

• Rewards:

  • 5% cashback (up to £100) for first 3 months

  • Up to 1% cashback thereafter (tiered by spend)

• Minimum spend for cashback: £3,000/year

If you spend £10,000 a year, you’ll earn around £100 cashback (1%) — simple and effective.

Best for: Everyday users who prefer cash rewards over points.

Not worth it if: You spend less than £3,000 annually.

Amex Platinum Cashback

• Annual fee: £30

• Rewards:

  • 5% cashback (up to £125) in first 3 months

  • 1.25% cashback ongoing

If you spend £10,000 a year, you’ll earn about £125 cashback, offsetting the £30 fee. If you spend more, it quickly becomes better value than the free version.

Best for: Consistent spenders who prefer simplicity and guaranteed returns.

Not worth it if: You want travel perks or flexible rewards.

Choosing the Right Amex Card for You

Here’s a quick rule of thumb:

• Under £5,000 annual spend: Cashback Everyday or Free BA card

• £5,000–£15,000 spend: Amex Gold (especially in year 1, then cancel before renewal)

• £15,000+ spend: BA Premium Plus (if you fly BA) or Platinum Cashback

• Frequent traveller, high earner: Amex Platinum for maximum perks

If you’re strategic, you can start with the Gold Card for free, earn the welcome bonus, and cancel after the first year — then move on to another card like the BA Premium Plus or Cashback card to continue earning in a new category.

Key Takeaways

Amex reward cards can deliver exceptional value — but only if you:

• Pay off your balance in full each month (to avoid interest)

• Choose the right card for your spending pattern

• Make use of welcome bonuses and annual perks

If you spend around £10,000+ a year, you’re in the sweet spot to make real gains — especially if you follow a points strategy that lets you move between cards each year for fresh bonuses.

Used wisely, an Amex can turn your everyday spending into free flights, luxury travel perks, or hundreds in cashback — a smart next step on your financial journey.