American Express Preferred Rewards Gold Card

grubby23

Hi,

I guess I will try my luck to get one of the American Express Gold cards, it gives one 20.000 BA miles. It costs £95 for a year, however,
there is a quidco offer with £60 cash back, makes it effectively £35
a year. I am just wondering if anyone knows if I will be able to cancel the card after the first year or if I have to use it until it expires. I do not wanna pay 4 x £95 until the card expires.

Anyone an idea about their cancellation policy.

Many thanks!

jodders

It's cheaper now for the first year.£70 which is not too bad.

I am interested in hearing Martin's thoughts on the this card and also if quidco is valid. If so, I would get it.

jodders

27. CLOSING YOUR ACCOUNT AND CANCELLATION OF CARDS
27.1 You may end this agreement and close your account at any time by giving us 30 days notice (notice period).
Such request to close your account may be made by telephone or in writing.
27.2 To end this agreement and close your account, you must:
27.2.1 pay off all amounts owing on your account;
27.2.2 destroy or return to us all cards issued on your account;
27.2.3 stop use of your account and cards; and
27.2.4 immediately contact all merchants to cancel any recurring charge being billed to your account and
inform us in writing or by telephone that you have done so. You must do this, by providing us with proof
of cancellation in the form of a cancellation number or written confirmation from the merchant, in good
time before the recurring charge is due to be debited from your account.
27.3 We will only close your account and end this agreement if you have complied with all of the requirements of
section 27.2 above.
27.4 You agree that we are entitled to cancel all cards issued on your account by the end of the notice period.
27.5 After receipt of your request to end this agreement and close your account, all outstanding charges will continue
to accrue on your account until these are fully paid.
27.6 You or a supplementary cardmember can cancel a card at any time by informing us by telephone or in writing.
After we have received notice of cancellation, you will continue to be responsible for all charges on your account.
We may help you get a supplementary card back, if this is appropriate.
27.7 We may end this agreement and close your account at any time by giving you two months’ written notice in
advance of termination.
27.8 We may end this agreement and close your account immediately in the event of default.
27.9 If we end this agreement, you must pay all outstanding charges (including unbilled charges) that may not be
shown on your last statement. We will only close your account when you have paid off all amounts you owe us.
27.10 If your card is cancelled by us for any reason, all other cards issued on your account will be cancelled at the
same tim

Mhambi

You may find it a pain to find an outlet that accepts AMEX due to their ridiculous high charges to sellers. Unless you want to buy very high value items you may want to stay away from the card.
Do yourself a favour and walk over the High Street or look on the Net who is accepting AMEX. You soon will find that your £££ on fee are better spend on something else unless you want a very high debt because of the cost.
Been there, done it, got the T-Shirt and stood naked to dry. AMEX... Never Again. Took me nearly 5 years to pay it all of.

Fruit_and_Nut_Case

Mhambi wrote: »

You may find it a pain to find an outlet that accepts AMEX due to their ridiculous high charges to sellers. Unless you want to buy very high value items you may want to stay away from the card.
Do yourself a favour and walk over the High Street or look on the Net who is accepting AMEX. You soon will find that your £££ on fee are better spend on something else unless you want a very high debt because of the cost.
Been there, done it, got the T-Shirt and stood naked to dry. AMEX... Never Again. Took me nearly 5 years to pay it all of.

Or have a look at the thread Who Does/Does Not Accept Amex?

datostar

Mhambi wrote: »

You may find it a pain to find an outlet that accepts AMEX due to their ridiculous high charges to sellers. Unless you want to buy very high value items you may want to stay away from the card.
Do yourself a favour and walk over the High Street or look on the Net who is accepting AMEX. You soon will find that your £££ on fee are better spend on something else unless you want a very high debt because of the cost.
Been there, done it, got the T-Shirt and stood naked to dry. AMEX... Never Again. Took me nearly 5 years to pay it all of.

OP is talking about an Amex Charge Card, not a Credit Card. They're supposed to be paid off every month. Amex wouldn't be happy about taking 5 years to pay off a Charge Card!
Major supermarkets do accept Amex. I don't find it too much of a problem.

DM118

cool got one of these card now.
Does anyone know if used in aboard (going to U.S next month) do they generally give good exchange rate when buying on this card. Or probably i shall stick to my mastercard.

thanks

Dabooka

I have an Amex gold credit card (which I believe is no longer offered and may be turned into something else when it expires come November) and find plenty of places accept it, both here and abroad. Also used it in the States and Far East without any particular problems too, and although I wasn't paying all that much attention to it, the exchange rates seemed about on par with the Master Card I also used. No good for Cuba though!

I'm sure some eagle eyed user of both will give a more accuarte comparison of exchange rates. I just switched between the two and it was always for smallish purchases, so the difference would be fairly negligible anyway.

catflea

The 30 day notice thing, although in the T&Cs is not exercised. Card can be cancelled same day.

Roger1

DM118 wrote: »

... do they generally give good exchange rate when buying on this card.

It's the standard AmEx 2.99% which to all intents and purposes is 3%. IMO, the points you earn are not worth paying the 3% surcharge.

Of course, some other cards have similar surcharges. We use 0%-surcharge cards such as the Halifax Clarity MasterCard.