American Express Preferred Rewards Gold credit card review (UK): Up to 1.2% back on spending

[@PlataOPlom0]

£195 annual now

[@daanyh98]

I’m brand new to the credit card points game but I’m keen on getting involved. Really good to see some great UK content. Would you mind doing a video please on the best way to maximise Avios via card spend? Looking at Platinum, or Gold (or Gold Preferred - is there a difference?), or one of the BA Amex cards - or some combination of the above? Thank!! Subbed

[@seckinboy]

I Andy, can we start getting animations for your videos. As it would be helpful to see details on the side as you’re talking. I have seen you do this before but not that often.

[@BeCleverWithYourCash]

I’ll always try to add graphics if there’s time, but often I’m only able to get the video live and direct people to becleverwithyourcash.com for extra info. Will always try though!

[@kiely4561]

The Amex gold seems like it makes more sense if you’re a US citizen as the points and rewards are far greater than in the uk

[@fadleadam]

yeah it really sucks in the uk...and there's foreign exchange fees which is the worst since i travel a lot.

[@samc12345]

Great tip Andy. Was planning on grabbing the Amex nectar once my chase cashback ends in March. Might go for this card instead now. I have already got an amex rewards card so no welcome bonus for me. Still waiting on that stoozing video though! Easy access savings is way over 1.2% now so it's probably more rewarding to earn 2%+ interest if you can get a decent 0% purchase credit card.

[@samc12345]

Probably isn't the right forum for this but do you think Chase will eventually offer a reward credit card in the UK? We all know that Chase UK is currently a loss leader while they build up customers and popularity and will eventually start to introduce borrowing (overdrafts, loans, credit cards etc) to start earning their own profits. I can see this will probably be their next USP in a year or so once they withdraw the everyday cashback.

[@FrancescoMioni-q8j]

Hi Andy, first of all congrats on your channel! Quick one, can nectar points be spent with the same ‘benefit ratio’ also at Sainsbury’s own fuel stations? Sainsbury’s groceries is normally more expensive than other supermarkets, same goes with Esso, so using the nectar for Sainsbury’s own fuel seems to me the best option. Would you agree?

[@Mohsiin]

Hi Andy! I just have one question in regards to keeping the card for one year. At what point would you suggest to downgrade it to the Amex rewards card? Because having read up the T&Cs, their terminology suggests if you are to cancel your card within a year they could potentially remove your bonus points earned and also cancel the card etc?

[@H80989]

Hi Andy, have you heard of the new credit card called yonder ? Its a london based credit card wanted your thoughts. Thanks

[@AnnetteA22]

Hi Andy ! Great video but I’ve got a question Let’s say for instance I go ahead and I’m qualified for this card and I get the approved limit of 1,200. What do you advise as the best way to spend the £3000 in 3 months without going over your credit utilisation score? I know ideally we should we be looking at 30% and below. Do you think it’s a good idea to make high purchase of likes 500-800 pound and pay them back immediately a few times a month to make up the 3k? Will this affect your credit score? Sorry for the long question lol

[@Jsb078]

Hi Annette, I just wanted to jump on your question, which I know was 2 months ago, but I wanted to say that your idea of spending like that is best suited. I have the gold card and spend usually around 3K a month and always pay it off. I keep an eye on how much I spend, and ensure I’m collecting my rewards, points and more. Paying off your credit card in full will always go in your favour and will boost your credit score. Only spend what you know your gonna pay off and collect those points. Happy spending x

[@fadleadam]

is there a limit on the gold card? because i usually spend around 4-5k even more per month. is that fine? and is it best to pay it off all at once on the due date? @@Jsb078

[@AmirReviews]

Great video mate. I got the Amex BA card and spent nearly 20K on it. Is it possible to move those points onto another card.

[@theendofthehorizon]

Hi Andy, I'm wondering if you have heard of the American express Vitality credit card and if so what are your thoughts on it? It appears to be 2% cashback?

[@MrStuielooie]

This new Cardmember offer is only available if you have not held a personal American Express Card within the previous 24 months. If you have held a personal American Express Card within the previous 24 months, you will be entitled to all other Card benefits, excluding the welcome offer.

[@JimiShabir]

The worst card on the market. I have the platinum and its worthless. Have you ever tried spending and are told sorry we don't accept Amex. Porsche refuses Amex!

[@user-wc1nd9ie6x]

Breaking it down so if you spend £5000 a year on it that’s £416 a month on the card you get 6 quids worth of nectar points a month- Seems like a lot of thought and hassle for the sakes over saving 20p a day in just nectar points

[@danielpeti3885]

agree but if you already using the card for everyday stuff its not that hard to reach £416 a month. groceries alone for me about £300-400 / month in Sainsbury's paid by amex.

[@Emlau22]

With the airport lounges, how do they work and can you use 2 passes for me and a guest?

[@ed7731]

Did you get an answer?

[@gdotmoney96]

​@@ed7731No

[@Bondy1986]

You’re allowed 4 visits per year with a guest

[@mosch1n]

Hi Andy my only concern is after cancelling the card after one year what card to go for? And what if dont get acceptable for new card.

[@BeCleverWithYourCash]

This is the video for you! kzbin.info/www/bejne/r2S5mYWpd9Wsqrc

[@BF-eb4xs]

A lot to learn, Jesus. So as a 22 year old, who’s careful with money… starting up a business soon, and want a rewards card. From watching your videos, the AMEX gold is a good option, for a year. Then cancel, and then order another. My question is can you take the points off the card before cancelling… and put them into a ‘savings account’ (do Amex do a card where you can store points?) and then repeating the process.

[@bufordmaddogtannen]

You get a balance that stores your points. If you cancel the card, said balance is gone. So you need to get a second free Amex card that rewards you with points, then once you cancel the gold card the points will not be lost. You cannot re-apply straight away for the gold or platinum cards and gain an additional welcome bonus BTW.

[@daniyalbbd5281]

You can't apply for the gold card if you had a amex card in past 24 months

[@Cryptoniano1991]

Hi ! I would like to register on amex gold card. I have to spend £3,000 to claim the rewards points. Is it included rent, bills etc? Thanks

[@amerasinghamkarunananthan711]

Hi Andy, I have BA Amex (std) credit card. Will I incur transaction fee on P&Q ferry , when travel to Paris? P&Q is registered in Feltham, London & their pricing is in Starling £ 🤔

[@BeCleverWithYourCash]

No, if you’re paying a UK company in sterling there won’t be a charge

[@alexandrosbarmpas539]

Can you please make a video for BA Prepaid Mastercard?

[@_-MiamiVice-_]

Is the gold card metal in the uk now?

[@sidroutray7728]

Hey Andy, is this card free to use abroad maybe in Europe with no additional charges?

[@BeCleverWithYourCash]

Sadly not. I’ve a video on the best card to use overseas here kzbin.info/www/bejne/i2OtknmJiNhneqc

[@sidroutray7728]

@@BeCleverWithYourCash Thanks 😉

[@WaleedTawfiq]

using abroad? any fees they chargeing ?

[@mosch1n]

Can my wife's amex points be transferred to my account avois account?

[@BeCleverWithYourCash]

Hmm. I think it needs to be the same account holder

[@ForkCandle123]

To me, it's not worth having. Not only wouldn't I spend that much, but even if I did, to have to go all around the houses to change the points into other points then into yet another different type of points is like a dog chasing his own tail. How much time do these money savers waste when doing all of this stuff? And how much data on themselves do they give away to multiple corporations?! And how many different needless accounts do these people have to create and manage and juggle? Certainly, it's not for me. The more accounts you have the more likely you'll get caught up in a data beach anyway. For me, there's more important things than money. I'll save when I can save, but I'm not going to run from pillar to post and back again multiple times like this one and similar other ones require.

[@Mrrbagga]

Gay

[@martynreardon7289]

Hi Andy

[@mhoward181]

Points is all about control and conditioning. They don’t care about u. They just care about putting you into debt. If offering you points results in debt then they want to give points. These people arnt ur friend they are ur enemy. Just look at the savings. They will offer me 4.5% interest on a lot of money while charging 30% apr on a small 5k loan. Best advise would be to encourage you to ditch ur cards and try to become debt free.

[@jacintofernandes2907]

These cards are a boon and a bane. I was always cautious about it because my parents suffered from credit card debt for a good decade in my teens. I am currently learning about the benefits of these cards if done right, and I want to make that change

[@TofuBoy22]

I think it goes without saying that these cards are only used for everyday spending that you would have done anyway and that the monthly bill is paid in full.

[@noelhanna6432]

Cut these cards up. Use debit cards only. Get out of debt.

[@burgundii]

You shouldn't be borrowing on these cards anyway, rewards credit cards are only useful when you pay the balance in full every month

[@noelhanna6432]

@@burgundii These cards encourage people to spend. If you are not disciplined, you end up paying interest. It's what they want. Don't play their game.

[@Equinox4523]

Lol it’s not what anyone “wants”. Take the tinfoil hat off

[@ForkCandle123]

@@Equinox4523 of course it's what the companies that operates these types of C.C. Reward Schemes want / would very much like - and they do get a proportion of their customers failing to whilst intending to keep up paying all off at the end of the month. They'll earn more profit when a person can't pay all back at the end of the month. They make profit anyway, yes. But they know that some people won't keep up paying in full - and of course they'll like this. Them liking this is the same as then wanting it. They even forecast it when they set up each new scheme because they have data from previous schemes. So, get real!

[@Equinox4523]

@@ForkCandle123 ok - whatever you say lol