An Amex welcome bonus is one of the quickest ways to earn a free flight or a few hundred pounds of value from spending you'd do anyway. But the rules have tightened. The bonuses are smaller than a few years ago, and the 24-month rule means you need to choose your first card carefully. This guide covers the current offers, what they're worth, and how to make sure you actually get paid.
Key takeaways
- Amex Gold: 20,000 points for £3,000 spend in 3 months. £195 a year, but £0 in the first year. Representative 85.8% APR variable.
- Amex Platinum: 50,000 points for £6,000 spend in 3 months. £650 a year. Representative 685.3% APR variable, which is mostly the annual fee.
- The 24-month rule: you won't get a welcome bonus if you hold, or have held, a personal Amex card (Membership Rewards cards for Platinum) in the past 24 months.
- Points are worth roughly 0.5p-1p+ each, most when transferred to airline partners such as British Airways Avios.
- Only purchases count towards the spend target, not balance transfers, cash withdrawals or fees.
What are the current Amex welcome bonuses in the UK?
These are the standard public offers we could verify on 21 October 2026:
| Card | Welcome bonus | Spend needed (3 months) | Annual fee | Representative APR |
|---|---|---|---|---|
| Preferred Rewards Gold | 20,000 Membership Rewards points | £3,000 | £0 in year one, then £195 | 85.8% APR variable |
| Platinum | 50,000 Membership Rewards points | £6,000 | £650 | 685.3% APR variable |
| British Airways Premium Plus | 30,000 Avios | £6,000 | £300 | 135.7% APR variable |
The Representative APRs look extreme because they include the annual fee, which has a big effect on the APR calculation for an assumed £1,200 credit limit. Gold's actual purchase rate is 29.1% variable. If you pay your balance in full every month, as you should with any rewards card, you pay no interest at all. Credit is subject to status, and Amex requires a minimum income of £20,000.
Amex occasionally runs limited-time boosts, such as the 50,000 Avios BA Premium Plus offer that ended in February 2026. If you're not in a hurry, it can pay to wait for one. Note that Premium Plus's everyday earn rate fell to 1.25 Avios per £1 on 7 October 2026. See what the BA Premium Plus cut means and how Barclaycard Avios Plus compares.
Take Action: If you've never had an Amex card, or not for over two years, start with the Amex Gold card. It's free for the first year, so you can collect the bonus and judge whether it's worth £195 before paying anything.
How does the Amex 24-month rule work?
This is the rule that catches most people out. Amex says you won't be eligible for a welcome bonus if you hold or have held any personal American Express card in the past 24 months. For Platinum, the wording covers Membership Rewards cards.
In practice:
- Your first Amex card is the one that gets a bonus. Choose it carefully, because opening a free card first could block a better bonus for two years.
- Cancelling a card doesn't reset the clock straight away. You need 24 months without one.
- Business cards are separate, so a business card bonus doesn't affect your personal eligibility.
- Referral bonuses for the existing cardholder are separate too. Gold holders earn at least 9,000 points per approved friend, and Platinum holders at least 12,000, up to 90,000 a year.
Our guide to the best order to get Amex cards walks through the sequencing in more detail.
How much is an Amex welcome bonus worth?
It depends on how you spend the points:
| Redemption | Typical value per point | 20,000 points worth |
|---|---|---|
| Transfer to Avios or Virgin Points for flights | 1p or more (premium cabins can be higher) | £200+ |
| Hotel partners (Hilton, Marriott) | 0.4p-0.8p | £80-£160 |
| Amex Travel bookings | ~0.5p | ~£100 |
| Statement credit / shopping | 0.3p-0.5p | £60-£100 |
Membership Rewards points transfer to British Airways Avios at 1:1, which is why travel gives the best value. Transfers can't be reversed, so only move points when you have a booking in mind. See our Amex points strategy guide for the best redemptions.
How do you hit the spending target without overspending?
You have three months from account approval, so plan before you apply:
- Move regular bills to the card: utilities, phone, insurance and subscriptions all count where Amex is accepted.
- Time it with planned big purchases: a holiday, car repair or annual insurance renewal.
- Prepay where it's free to: some annual bills are cheaper paid upfront anyway.
- Track progress in the Amex app, which shows how much is left to spend.
- What doesn't count: balance transfers, cash withdrawals, fees, interest, and refunded purchases.
Never spend more than you would anyway, or carry a balance to hit the target. At 29.1% purchase interest, a few months of carried balance wipes out the bonus.
Is the annual fee worth paying after year one?
For Gold, the first year is free, so the bonus is pure profit if you pay in full. Before the £195 fee hits in year two, decide whether you'd earn enough to justify it. That means everyday points, the 5,000-point bonus for spending £10,000 a year (up to 10,000 bonus points a year), and travel perks. If not, cancel or downgrade before the renewal date. Transfer or use your points first, because closing your last Membership Rewards card means losing them.
For Platinum, the £650 fee is only worth it if you'll genuinely use the lounge access, hotel status, travel insurance and dining credits. Compare the two in our Amex Gold vs Platinum guide.
Common mistakes to avoid
- Opening the "wrong" first card and getting blocked from a better bonus for 24 months.
- Missing the deadline. Set a reminder for 2½ months after approval.
- Carrying a balance. Interest outweighs any bonus.
- Cashing out points at poor rates when a flight would be worth twice as much.
- Forgetting the renewal date on Gold or Platinum.
- Applying for lots of credit at once. Space out applications, especially before a mortgage. Check where you stand first with our guide to improving your credit score.
FAQ
What is the best Amex welcome bonus in the UK right now?
As of 21 October 2026, the largest is the Platinum card's 50,000 Membership Rewards points for spending £6,000 in three months, but it has a £650 fee. For most people the Gold card's 20,000 points for £3,000 spend, with no fee in the first year, is better value.
Can I get an Amex welcome bonus more than once?
Not within 24 months. You won't qualify for a welcome bonus if you hold, or have held, a personal American Express card in the past 24 months. After a full 24 months without one, you can be eligible again.
How long do I have to meet the Amex spending requirement?
Three months from when your account is approved, not from when the card arrives. Only purchases count. Balance transfers, cash withdrawals, fees and refunded purchases don't.
How much are 20,000 Amex points worth?
Roughly £60-£100 if you take statement credit, or £200 or more if you transfer them to British Airways Avios for flights. Points transfer to Avios at a 1:1 ratio, which is why travel redemptions usually give the most value.
Why is the Amex Platinum APR so high?
The 685.3% Representative APR includes the £650 annual fee spread over an assumed £1,200 credit limit. The interest rate on purchases is 29.1% variable, and you pay none if you clear your balance in full each month.
The information in this article is for educational purposes only and does not constitute financial advice. Offers and rates were checked on 21 October 2026 and can change; credit is subject to status. Always check the current terms on the American Express website before applying.
Sources: American Express UK - all cards, Amex Gold card, Amex Platinum card, British Airways - Amex Premium Plus, Head for Points Platinum review.