American Express Preferred Rewards Gold Card Review 

A Premium Travel Card That Justifies the Annual Fee?

The American Express Preferred Rewards Gold Card has long positioned itself as a go-to option for UK consumers who spend significantly on travel, dining, and lifestyle. With its elevated points structure, travel perks, and no annual fee for the first year, it stands as a strong competitor in the premium rewards credit card space.

But is it worth keeping after the introductory period? And how does it compare to alternatives like the Chase Sapphire Preferred or the Barclaycard Rewards card in the UK market?

Let’s break it down.

Key Benefits at a Glance

• Membership Rewards Points: Earn 2x points on flights and direct travel bookings, 2x on dining, and 1x on all other purchases.
• £120 Deliveroo Credit: £10 monthly credit across the year with participating restaurants.
• 4 Complimentary Airport Lounge Visits via Lounge Club
• No foreign transaction fees on overseas spending
• Travel insurance and purchase protection included
• First-year annual fee waived (£195 thereafter)

Real-World Use Case: Is It Worth It?

Take the case of James H., a 32-year-old digital consultant from London. He spends an average of £1,200/month on travel and dining — both domestically and abroad. By using his Amex Gold card for these categories, he accumulated 38,000 Membership Rewards points in 12 months, which he later transferred to British Airways Avios for a business-class upgrade to New York worth over £650.

Combined with his four free airport lounge visits and Deliveroo credits, James’s net value exceeded £850 in the first year, without paying the annual fee.

Table: Comparison with Similar Travel Cards in the UK

Feature	Amex Gold (UK)	Barclaycard Rewards	Chase Sapphire Preferred (UK Alt)
Annual Fee (Year 1)	£0	£0	£0 (intro)
Points on Travel & Dining	2x	0.25% cashback	2x
Airport Lounge Access	4 visits/year	None	None
Foreign Transaction Fees	£0	£0	£0
Additional Perks	£120 Deliveroo credit	Basic purchase protection	25% travel redemption boost

Value for Money: Breaking It Down

In year one, with zero annual fee, even moderate spenders can extract solid value—especially frequent travellers or foodies. However, after the £195 kicks in from year two, the card becomes worthwhile only for those who redeem points efficiently or regularly travel internationally.

Key monetisation terms integrated here include:

• best travel rewards cards UK
• no foreign transaction fee cards
• Amex Gold benefits UK
• credit cards with airport lounge access

What Makes It Different?

Unlike many cashback cards or entry-level points cards, the Amex Gold offers a robust combination of rewards, flexibility in redemptions (over 12 airline partners), and lifestyle perks that are rare in mid-tier credit cards.

Additionally, the Membership Rewards ecosystem is often preferred over issuer-locked points programs, offering better transfer ratios and redemption flexibility.

Small Criticism: Not Accepted Everywhere

A major drawback for many UK users is Amex’s limited acceptance, especially in small businesses or local services. While it’s improved in recent years, it still trails behind Visa or Mastercard in everyday usability.

The Amex Gold Card UK delivers high upfront value, especially for consumers who prioritise travel and dining rewards. It’s one of the best no foreign transaction fee credit cards with real travel perks. While it may not be suitable for everyday general spending, it shines for strategic spenders who know how to leverage the Membership Rewards ecosystem.