American Express Preferred Rewards Gold Credit Card complimentary lounge visits

Nothing at all to stop you doing this, but if you don't use the credit card and cancel it you will probably find subsequent applications declined.

If you can spend enough for the sign up bonus (assuming you've not had one in the last two years) it's actually a very good card.

Quentin wrote: »

Sign up bonus now drastically reduced and minimum spend to get it in 3 months drastically increased!

While what you are saying is true, I still think it is a very good card.

The sign up bonus is 10000 Membership Reward Points for new customers spending £3000 in the first three months of card membership.

Get someone to refer you and its 12000 MR points.

Spend £3K and you will get approximately 3000 additional MR points (1 point for each complete pound spent).

15000 MR points are worth a minimum of £67.50 if you just use them for getting money off your bill. If you use them wisely, and convert to air miles or hotel points, they are worth about £150. That's a cashback rate of between 2.25% and 5%

Plus two free airport lounge passes worth about £40.

Amex also have some very good special offers. I currently have

Spend £250 at selected Hilton Group hotels and get £50 cash back
Spend £50 at Morrisons and get 10% cashback (unlimited times)
Spend £40 with Virgin Trains, get £10 cash back

... and many more

So as I said, if you can spend enough for the sign up bonus (assuming you've not had one in the last two years) it's actually a very good card.