New American Express Gold cardholders can earn 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 cardholders can earn 25,000 points, up from the usual 20,000, when they spend £3,000 in the first three months of having the card.
Additionally, Gold cardholders can also earn 5,000 bonus points when they make a transaction of any amount in the 15th month of having a Gold card, although an expert – see below – says that this item is not worth keeping.
Added bonus: American Express has launched a 10,000 point bonus for new Amex Gold card holders (the US card giant sponsors Brighton & Hove Albion, pictured)
It means new members who sign up for an Amex Gold card starting today could earn up to 30,000 points.
To get the offer, customers must sign up for an Amex Gold card by July 16.
30,000 points are worth £150 in gift vouchers across a range of shopping, travel and lifestyle partners, which are used to offset purchases made with the card, or can be redeemed for flights and hotels with Amex Travel.
They can also be converted into Avios.
In addition to this, existing Amex Gold cardholders can earn additional membership reward points by referring a friend, as part of the limited-time offer.
This means that a referrer will now earn 14,000 referral reward points, up from 9,000. The referrer will also earn 2 additional points for every £1 spent over three months, up to £6,000.
Meanwhile, the referred person receives 30,000, compared to 22,000, when they spend £3,000 in the first three months of having the card.
The referred person will also earn 5,000 bonus points when they make a transaction of any amount within the 15th month of having the card.
The referral earnings limit is set at 90,000 points per year.
The referral bonus will be valid until July 16. It’s worth noting that you can benefit from either 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 to get the bonus?
The Amex Gold card is free for the first year and then has a hefty annual fee of £195 in subsequent years.
You can cancel before it is charged and there is no obligation to keep the card beyond the first year.
Those who do not pay their balance each month will be hit with a 31 percent purchase fee.
Rob Burgess, editor of frequent traveler and loyalty points website Head for Points, said: “This was always an exceptionally generous card in the first year and it’s even more so now.”
‘But beyond the first year, it’s hard to see the value in paying £195 unless you get the full value of the Deliveroo credit and airport lounge passes.
‘You can get the Amex Rewards credit card, which is free for life and has the same earning rate of 1 point per £1.
‘As you are forced to pay £195 during the second year to get the second part of the bonus (5,000 points), I would still find it difficult to see the value here and would recommend people deposit the initial 25,000 points and then seriously reconsider at the end of the year. the first year if the math stacks up.’
Membership Rewards points can be transferred to airline programs such as Avios and Virgin Flying Club, hotel programs and gift cards from major brands.
The improved bonus could be a counterattack against Barclaycard, which offers free Mastercard Avios.
It comes with a new customer sign-up bonus 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 equates to £240 a year, slightly more than Amex Gold’s £195 annual fee.
> Read more about how to increase your Avios points
Who qualifies for the point increase?
If you have never had a personal Amex card before and it is accepted after a credit check, you will receive the bonus.
If you have had any personal Amex cards in the last 24 months, you are disqualified from the offer.
You will receive 30,000 bonus points if you have not had a personal Amex card in the previous 24 months.
If you have a corporate or business Amex card through your work, even if you receive Membership Rewards points from it, you will still receive the sign-up bonus.
Supplemental cardholders to someone else’s Amex card who apply for this offer can also get it.
As far as American Express is concerned, the card primarily belongs to the cardholder and does not make them an “existing cardholder.”
Some links in this article may be affiliate links. If you click on them, we may earn a small commission. That helps us fund This Is Money and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.
