Are you keeping your Amex Preferred Reward Gold card after the first year?

b1982

Mine is just about a week past its anniversary date so now I'm waiting for the fee/the 7,500 bonus points to show up on my account. Then I will probably do one of the followings

1. Downgrade to green
2. Apply for BA or SPG

The thing is I've only been in the UK for two years and my credit score is still not great so the only credit cards I have is the Amex gold (which I got through Global Card Transfer) and a Capital 1 card which requires a deposit. I doubt it that I'll be approved for either BA or SPG.

For those who are about to go over the first year of Amex Gold, what are you going to do? Are you going to the keep the card, switch to something else, or cancel it all together? Is the reduced benefits (only double points for travel and overseas spend) worth the fee?

Nairn1980

I'm not at the end of my first year yet but considering I only
Spend around 6k a year on my card, 6k points is hardly worth £125!!

Especially if you convert to virgin atlantic or avios as the free lloyds avios card and free virgin atlantic card will give me the same amount of points for no fee!!

The other perks aren't really useful as the 2 flights I've done this year were from Orlando and Glasgow! Both had no lounges that lounge pass would let me into...

Overall I can't justify £125

michaels

I closed mine once I had the 20k points so I can be a new customer again in 6 months. In the mean time I have done aqua, would have done the fee free platinum cashback as well but have been limiting searches for a remortgage.

Razorbite

In answer to the question,then yes, I am going to cancel.
Slightly OT, but to the card churners out there;
When you cancel a card after receiving whatever bonus was offered, do you blatantly tell the CS, "I got the bonus, I want to cancel"
or do you make up some convoluted story for cancelling??

zerog

You should get approved for the BA card now since you have more than 6 months repayment history with amex, and you spent over £15000. No harm in applying if you can't get any other cards anyway.

Downgrade to green if you haven't used up your MR points. If you have any odd left over points you can use them to pay off a train ticket or oyster topup etc. Bonus conversion to avios may be coming in October (just a guess, don't know for sure)

Before you cancel, refer somebody and get an extra 9000 points.

When you cancel, just say you don't think the fee justifies the benefits for the gold card, but you are happy with the service and therefore you have now got their BA card etc etc

If you are considering the BA card, and want the 2-4-1 voucher, it makes more sense to get the paid card than the free.

Amex is not stupid and they are going to limit the number of times you can reapply for the card quite soon, they are well aware that people have repeatedly cancelled and reapplied for the signup bonus

DunPin

b1982 wrote: »

Mine is just about a week past its anniversary date so now I'm waiting for the fee/the 7,500 bonus points to show up on my account. Then I will probably do one of the followings

1. Downgrade to green
2. Apply for BA or SPG

The thing is I've only been in the UK for two years and my credit score is still not great so the only credit cards I have is the Amex gold (which I got through Global Card Transfer) and a Capital 1 card which requires a deposit. I doubt it that I'll be approved for either BA or SPG.

For those who are about to go over the first year of Amex Gold, what are you going to do? Are you going to the keep the card, switch to something else, or cancel it all together? Is the reduced benefits (only double points for travel and overseas spend) worth the fee?

As you got the Gold due to Global Transfer, you're previous history should've transferred with that card to the UK American Express from your country of origin which would mean you shouldn't have an issue applying and getting either the BA or SPG card.

Personally I'd keep the Gold rather than downgrade to Green as you still have to pay fees for Membership Rewards of £24 (if you want MR) meaning you'll be splashing out £84, may as well keep the Gold for the benefits seeing as it's £41 more.

OllyM

DunPin wrote: »

Personally I'd keep the Gold rather than downgrade to Green as you still have to pay fees for Membership Rewards of £24 (if you want MR) meaning you'll be splashing out £84, may as well keep the Gold for the benefits seeing as it's £41 more.

The Green card includes membership rewards in the £60/year, there's no extra fee.

b1982

DunPin wrote: »

Personally I'd keep the Gold rather than downgrade to Green as you still have to pay fees for Membership Rewards of £24 (if you want MR)...

I didn't realise you have to pay extra for MR on Green. Only £60 is shown on the web site.

OllyM

b1982 wrote: »

I didn't realise you have to pay extra for MR on Green. Only £60 is shown on the web site.

You don't!

zerog

OllyM wrote: »

You don't!

Yes you do. https://catalogue.membershiprewards.co.uk/aboutTerms.mtw

Click the first link. (PDF document)

OllyM

The "Green" card on the website now is called "The American Express Card" - there used to be a cheaper Green card that was about £37/year and attracted the fee to add Membership Rewards which must be what those terms refer to. I agree it is confusing though!