Amex Preferred Rewards Gold
The American Express Preferred Rewards Gold Credit Card is the recommended first card for anyone entering UK points collecting. Free for the first year, it earns flexible Membership Rewards points that transfer 1:1 to BA Avios, Virgin Points, and a dozen other airline and hotel programmes. The 20,000-point sign-up bonus, four free airport lounge passes, and £120 of annual Deliveroo credit make it the highest-value zero-cost entry point in the market. If you are reading about points for the first time, this is where to start.
| Card Summary — March 2026 | |
|---|---|
| Annual fee | Free Year 1, then £195/year (refundable pro-rata) |
| Earn rate | 1 MR point per £1. 2 MR per £1 on airline purchases (booked directly on airline websites) and all foreign currency spend |
| Sign-up bonus | 20,000 MR (22,000 via referral). Spend £3,000 within 3 months. Promotional bonuses of 30,000–40,000 have appeared — check the current offer |
| Annual spend bonus | Up to 10,000 bonus MR per year (full bonus at £20,000 spend) |
| Representative APR | 85.8% variable (including fee). Purchase rate: 29.1% variable. Year 1 (no fee): 29.1% variable |
| FX fee | 2.99% on non-GBP transactions (but earns double points on FX spend) |
| Lounge access | 4 free Priority Pass visits per year (shared between you and any guests). Additional visits £24 each. 4 more free visits on renewal |
| Other benefits | £120 Deliveroo credit (24 × £5), $100 hotel credit at FHR hotels (2+ night stays), Avis Preferred Plus, 10% Hertz discount, Amex Offers cashback |
| Minimum income | £20,000 |
| Eligibility for bonus | Must not have held ANY personal Amex card in the previous 24 months. BA Amex, Marriott Amex, Nectar Amex — all block you. Business and Corporate cards do NOT block you |
Flexibility. Membership Rewards points do not commit you to any single programme. You earn them from everyday spending and transfer them — instantly to Avios, in 1–2 days to Virgin Points or Flying Blue, in 2–3 days to KrisFlyer — only when you have a booking in hand. This means your points never lose value to a programme devaluation while they sit in your Amex account. You decide where they go at the moment of redemption.
Transfer Partners
UK Amex MR transfers 1:1 to most partners. The full list of airline partners: BA Avios, Iberia Avios, Qatar Privilege Club Avios, Aer Lingus AerClub Avios (all 1:1 instant), Virgin Atlantic Flying Club (1:1, 1–2 days), Air France-KLM Flying Blue (1:1, 1–2 days), Emirates Skywards (2:1 — the worst rate, only worth it for high-value premium redemptions), Etihad Guest (1:1, 1–2 days), Cathay Pacific Asia Miles (1:1, 1–3 days), Singapore Airlines KrisFlyer (3:2 — 30,000 MR becomes 20,000 KrisFlyer, 2–3 days), Delta SkyMiles (1:1 instant), and Qantas Frequent Flyer (1:1 instant).
Hotel partners: Marriott Bonvoy (1:1.5 — 1,000 MR becomes 1,500 Marriott), Hilton Honors (1:2 — 1,000 MR becomes 2,000 Hilton), Radisson Rewards (1:3). Also Club Eurostar (15:1).
Transfers are irreversible. Names must match between your Amex account and the loyalty programme. See our Amex MR transfer map and transfers guide for worked examples of when and where to transfer.
Aeroplan, ANA Mileage Club, United MileagePlus, Turkish Miles&Smiles, and Avianca LifeMiles are frequently listed as Amex MR partners — but only for US-issued cards. UK Amex cardholders cannot transfer to these programmes. KrisFlyer at the 3:2 ratio is the only direct UK route into Star Alliance via Amex MR.
The Earn Rate in Detail
1 MR point per £1 on most purchases. 2 MR per £1 on two categories: airline purchases made directly on an airline website (not via travel agents or aggregators), and all spend in a foreign currency. The double-points airline category makes this the strongest card for buying flights directly — a £500 BA flight earns 1,000 MR versus 750 Avios on the BA Amex Premium Plus (before the Premium Plus’s 3x BA bonus applies to ba.com purchases).
The annual spend bonus adds up to 10,000 MR per year at £20,000 total spend. This effectively increases the average earn rate to 1.5 MR per £1 for someone spending £20,000 per year.
The 2.99% FX fee applies to all non-GBP transactions. You do earn double points on FX spend, but the fee usually outweighs the extra earning. Use a zero-FX card abroad.
Lounge Access
Four free Priority Pass lounge visits per year. These can be used by you alone, shared between you and guests (one visit covers one person), or all used by you in one trip. An additional four visits are awarded when you renew the card after Year 1. Additional visits beyond your free allowance cost £24 each.
Priority Pass lounge access at UK airports can be difficult at peak times — many busy UK lounges now allow advance booking for a £6 fee. Outside the UK, access is rarely an issue.
The Deliveroo Credit
£120 per year in Deliveroo credit — Amex refunds £5 for each of the first two Deliveroo orders per month charged to the card (24 credits × £5 = £120). If you already use Deliveroo, this is free money. If you do not, the credits expire monthly and have no cash value. Orders must be charged to the Gold card specifically.
Sign-Up Bonus and Eligibility
The standard bonus is 20,000 MR for spending £3,000 within three months (22,000 via referral). Promotional bonuses of 30,000–40,000 MR run periodically — the most recent was 40,000 MR with a £5,000 spend target in six months, ending January 2026.
The eligibility rule is strict: You must not have held ANY personal American Express card in the previous 24 months. This includes BA Amex (both versions), Marriott Bonvoy Amex, Nectar Amex, Amex Platinum, and the free Amex Rewards card. Business cards and Corporate cards issued through an employer do NOT block you. Supplementary cards on someone else’s account do not count either.
If you do not qualify for the bonus, you can still apply and receive all other benefits (lounge passes, Deliveroo, earn rate). The bonus is just not available.
Year 2 and Beyond — Is the £195 Fee Worth It?
After the free first year, the card costs £195 per year. Whether to renew depends on what you use:
Four lounge passes (worth £24 each = £96 if used). £120 Deliveroo credit. Up to 10,000 annual spend bonus MR (worth ~£100 at 1p/point). Amex Offers cashback (variable, but £50–150 is typical). Total tangible benefit: £350–450+ if everything is used. Against a fee of £195, the maths usually works — but only if you actually use Deliveroo and the lounge passes.
Retention offers: At renewal, contact Amex via live chat or phone and say you are considering cancelling. Retention offers of 7,000–10,000 MR are commonly reported. A 10,000 MR retention offer reduces the effective fee to under £100. See our retention bonuses guide.
If you cancel: Transfer or spend your MR points before cancelling — you lose them 30 days after cancellation if you have no other MR-earning card. Alternatively, apply for the free Amex Rewards Credit Card (10,500 MR bonus, no fee ever) to keep your MR balance alive indefinitely.
Who Should Get This Card
Yes, get this card if: You have not held any personal Amex card in the past 24 months. You want to start collecting points without committing to a specific airline. You value the flexibility to transfer to 13+ programmes. You will use at least some of the lounge passes and Deliveroo credit.
Skip this card if: You already know you want Avios and will hit the £15,000 voucher threshold on the BA Amex Premium Plus. The Gold card does not offer a Companion Voucher — if that is your primary goal, go directly to the BA Amex (but you will lose the Gold bonus eligibility for 24 months by applying for any Amex first).
If you have never held a personal Amex: apply for Amex Gold first (20,000+ MR, free Year 1). You can then apply for the BA Amex Premium Plus — the Gold does NOT block the BA Amex bonus, because the BA Amex eligibility rule is specifically “no BA Amex in 24 months”, not “no Amex at all”. However, applying for BA Amex first DOES block the Gold bonus. Order matters: Gold first, then BA Amex.
Portfolio Fit
The Gold card typically serves one of two roles. For beginners, it is the first card in a portfolio that later adds BA Amex and/or Barclaycard. For experienced collectors, it is the flexible-earning complement to direct Avios cards — a place to park points that may eventually go to Emirates, Virgin, KrisFlyer, or wherever the best redemption appears.
You will need a Visa or Mastercard alongside the Gold card for merchants that do not accept Amex. The Barclaycard Avios Plus (1.5 Avios per £1) or free Barclaycard Avios (1 Avios per £1) are the natural pairings. Some collectors pair the Gold with a Virgin Reward+ Mastercard instead, splitting between flexible MR earning and direct Virgin Points earning.
The Amex Gold is the best starter card in UK points travel. Free for Year 1, 20,000 MR sign-up bonus (check for higher promotional offers), four lounge passes, £120 Deliveroo credit, and the ability to transfer 1:1 to 13+ airline programmes including Avios, Virgin Points, and Flying Blue. The earn rate of 1 MR per £1 (2 per £1 on airlines and FX) is solid. The £195 Year 2 fee is justified by benefits for most active travellers — and a 7,000–10,000 MR retention offer at renewal often covers it. Apply for this before any other Amex if you are new to the hobby.
