Amex launches 30,000 bonus point Gold credit card deal (2024)

New American Express Gold card holders can get 30,000 bonus points as part of an enhanced offer.

The credit card giant has increased the sign-up bonus on its Preferred Rewards Gold credit card from 20,000 to 25,000 points.

New Amex Gold cardmembers can earn 25,000 points, boosted from the usual 20,000, when they spend £3,000 in the first three months of having the card.

In addition, Gold cardmembers can also earn 5,000 extra points when they make a transaction of any amount in the 15th month of having a Gold card, although one expert - see below - says this element isn't worth sticking around for.

It means that new members signing up for an Amex Gold Card from today could earn up to 30,000 points.

To get the offer, customers must sign up for an Amex Gold Card by 16 July.

The 30,000 points are worth £150 in gift vouchers at a range of shopping, travel and lifestyle partners, used to offset purchases made on the card, or they can be redeemed against flights and hotels with Amex Travel.

They can also be converted into Avios.

On top of this, existing Amex Gold cardmembers can earn extra membership rewards points when referring a friend, as part of the limited time offer.

This means a person who is referring will now earn 14,000 rewards points per referral, rather than 9,000. The referrer will also earn an extra 2 points for every £1 spent for three months, up to £6,000.

Meanwhile, the person who is referred gets 30,000, up from 22,000, when they spend £3,000 in the first three months of having the card.

The person who is referred will also earn an extra 5,000 points when they make a transaction of any amount within the fifteenth month of having the card.

The limit for referral earnings is set at 90,000 points a year.

The referral bonus will run until 16 July. It's worth noting that you either benefit from the standard sign up bonus or the referral bonus - you won't be able to get both.

Is it worth getting an Amex Gold card for the bonus?

The Amex Gold card is free for the first year and then has a hefty £195 annual fee in the years following.

You can cancel before this is charged and there is no obligation to keep the card beyond the first year.

Those who fail to pay their balance off each month will be hit with a 31 per cent purchase rate.

Rob Burgess, editor of frequent flyer and loyalty points website Head for Points, said: 'This was always an exceptionally generous card for the first year and is now even more so.

'But beyond year one, it is difficult to see the value in paying £195 unless you are getting full value from the Deliveroo credit and the airport lounge passes.

'You can get the Amex Rewards Credit Card which is free for life and has the same 1 point per £1 earn rate.

'As you are obliged to pay £195 for year two to get the second part of the bonus (5,000 points) I'd still struggle to see value here and would recommend people bank the initial 25,000 points and then seriously rethink at the end of the first year whether the maths stacks up.'

Membership Rewards points can be transferred intoairline schemes such as Avios, and Virgin Flying Club, hotel schemes and high street gift cards.

The enhanced bonus could be a fightback against Barclaycard, which has a free Avios Mastercard.

It comes with a sign-up bonus for new customers of 5,000 Avios points if you spend £1,000 in the first three months.

There is also a paid version, the Barclaycard Avios Mastercard plus which comes with a sign-up bonus of 25,000 Avios points if you spend £3,000 in the first three months.

The fee is £20 a month which works out at £240 a year, slightly more than the Amex Gold £195 annual fee.

> Read more on how to boost your Avios points

Who qualifies for the points bump?

If you have never held a personal Amex card before and are accepted after a credit check, you will receive the bonus.

If you've had any personal Amex card in the last 24 months, you are disqualified from the offer.

You will receive the 30,000 bonus points if you have not held a personal Amex card in the previous 24 months.

If you have a Corporate or Business Amex card via your job, even if you receive Membership Rewards points from it, you will still receive the sign-up bonus

Supplementary cardholders on someone else's Amex card who apply for this offer can also get it.

As far as American Express is concerned, the card belongs to the primarily cardholder and does not make you an 'existing cardholder'.