One Year with American Express Gold Card (UK)
Unlocking the Amex Gold Hacks …
After spending 12 months with the UK American Express (Amex) Gold Card, I am well-positioned to provide an unbiased review of this credit card that has become an integral part of my financial toolkit. This article aims to share my experiences, both the pros and the cons, and help you decide if this card might be a good fit for you.
Upon receiving the Amex Gold Card, one of the standout features was the card’s premium design despite its material being plastic. Aesthetics aside, let’s discover the benefits it has provided me.
Pros:
1. A Free First Year
Amex Gold Card UK commences its cordial relationship with the cardholder by offering the first year free of any annual fees. This initial, cost-free period is a convenient window to discover the card’s features and perks without feeling the pinch of an upfront commitment.
But okay, how do you justify all the hustle of signing up?
2. Reward System and Airline Partners
American Express is known for its rewarding membership reward points system, and the Gold Card is no exception. With the ability to earn points on daily purchases (£1 = 1 Point) and to spend these points on a variety of airline partners, this card is a must for frequent travelers in the UK.
- Daily purchases: £1 = 1x point
- Airline tickets booked directly with airlines: £1 = 2x points
- Airline tickets and hotels booked on Amex Travel: £1 = 3x points
and more hacks later in this article.
It is worthwhile mentioning Amex points do not have an expiry date, meaning you are able to spend accumulated points whenever you are ready. The welcome bonus of 20,000 Amex Points (as of Jun 2023) is also significant and sets you off to a sweet spot with your points accumulation. If you sign up for the Gold Card with my invitation link, you will get 30,000 Amex Points instead.
Points are brilliant, but how do you leverage it?
The image below is an example of the Amex point in action. This is how I bought a Cathay Pacific flight ticket from Taiwan to Hong Kong in Points. This ticket generally costs 175 USD, but with a mile purchase option, you get the same ticket for a reasonable price.
I first transferred 8k Amex points to British Airways Avios.
You only have to pay for the airport taxes, fees, and surcharges which are 29.70 GBP in all.
You might be thinking why I am booking a Cathay Pacific flight with British Airways. These two airlines fall under Oneworld, an airline alliance. So each company sells a limited number of tickets. This would be a whole new topic to go over, and I will be publishing an article about purchasing reasonable flight tickets with miles soon.
3. Foreign Transaction Fees with a Silver Lining
While there are foreign transaction fees associated with the card, the 2x points for any foreign transactions help to alleviate this downside. If you travel a lot, the 2x points could translate to significant rewards. Also, as a resident of a foreign country who spends GBP, you stand to benefit from the currency exchange rate due to the low-interest rate in Japan (in my case) compared to the inflated rate in the UK.
1 GBP is 180 JPY as of Jun 2023.
The image below is an example of 3x points as I purchased the ANA flight ticket in Japanese yen. Remember, the airline purchase is 2x points, and foreign transactions are also 2x points.
4. Priority Pass
Although the priority lounge access is limited to 4 times a year, however, I always find myself in a situation where I don’t take advantage of the lounge space at the airport. 4 times a year would be a sweet spot for understanding how you interact with the airport.
Bonus tip: imagine you sign up in June, meaning you are able to have 8 times of lounge access within your first year of membership. Thank me later.
5. All-Encompassing Insurance: Coverage for Every Eventuality
The Amex Gold Card doesn’t hold back when it comes to insurance offerings. It includes an extensive range of insurance coverages, including travel accident insurance and car rental insurance. This means that as a cardholder, you enjoy unparalleled peace of mind, knowing that you’re protected against a multitude of eventualities.
Neutral:
Amex Travel Hotel Collection
The 3x points on Amex Travel might seem like a good deal, but when comparing it to what Amex Travel offers in the US, the selection for the UK appears unquestionably poor. While benefits like room upgrades and a $100 hotel credit are appealing, what put me off was the lack of a price match guarantee that Amex Travel US provides. During my stay at Pan Pacific Hanoi, which was listed under Hotel Collection, I expected to receive a refund for any price difference, which would have been guaranteed if booked through Amex Travel US.
Furthermore, hotels under Hotel Collection take your membership number upon bookings, such as Marriott Bonvoy or GHA number, but they do not recognize your member status when booked through Amex Travel UK. On the contrary, Amex Travel US offers a category called Fine Hotels and Resorts, which allows you to enjoy the benefits of your hotel status.
Overall, Amex Travel UK falls short in comparison to its US counterpart, making it less appealing for certain benefits and privileges.
Cons:
1. The Second Year Membership Fee
The grace period of the first year free comes to a close eventually, and from the second year onward, an annual fee steps in. While it’s a standard industry practice, the fee amount could deter users, particularly those who don’t use the card to its maximum potential to earn rewards. At this point, you might want to look for American Express US as they provide so much more benefits for the holders.
I will be publishing an article that explains how to set up a US credit card as a British in the future.
2. Not Ideal for Non-travelers
If you do not travel internationally, you might find the card’s rewards system less appealing. The benefits are geared towards travelers, and without leveraging these benefits, the card might not provide adequate value to justify its costs.
After one year with the Amex Gold Card UK, I believe it holds a trove of benefits for the frequent traveler. With its robust rewards program, comprehensive insurance coverage, and the first year free, it offers significant value. However, if you’re not an avid traveler or don’t frequently use credit cards, the annual fee from the second year might be hard to justify. I’d certainly recommend this card for first-time credit card users — it presents a brilliant opportunity to start building a credit score while enjoying premium benefits.
All in all, the Amex Gold Card UK is not just a credit card, but a lifestyle card, designed for people who love flying to foreign countries and aspire to experience the best of what life has to offer. If you think this card is for you, sign up with my invitation link below.
Amex Gold takes all the aviation side of things, but what about the hotels? Looking ahead, I’ll be going over how I am paying off my hotel expenses with Marriott Bonvoy Premium (Japan).
