There's a credit card that gives you free airport lounge access, £120 of Deliveroo credit, and enough bonus points for a return flight to Europe. And it costs nothing for the first year.
It's the American Express Preferred Rewards Gold Card. I know, I know, Amex cards have a reputation for being a bit flash, but this is very much a beginners credit card.
In this post, I'll list every single benefit the card gives you, put a real cash value against each one, and show you exactly what you could collect in the first year.
The Value Stack: What You Get In Year One
The card has a £195 annual fee. But here's the thing: it's completely waived for the first year. So all of the value below costs you precisely £0.
Let's go through each benefit and put a number on it.
the quick version
This Amex is beginner friendly, free for the first year and offers £520 ish in real value for new customers. If you can meet the qualifying £3,000 spend in 3 months to hit the bonus (without overspending just to hit it) - it's a no brainer of a card.
But always do your own research and PAY IN FULL every month.
Keep reading for our full breakdown. You can use the link on this page to check if you'll be approved, without performing a hard credit search.
1. Welcome Bonus: 20,000 Points (worth £150 to £200)
When you spend £3,000 in the first three months, Amex gives you 20,000 Membership Rewards points. These points are flexible, you can convert them 1:1 into Avios, Virgin Points, or a dozen other airline and hotel schemes.
I value airline miles at about 0.75p to 1p each, which is conservative. That puts the welcome bonus at £150 to £200 of travel value. If you're clever with redemptions (business class, off-peak dates), you could squeeze out even more.
Even if you just want cash, you can convert them to Nectar points and spend them at Sainsbury's or Argos. 20,000 points = 10,000 Nectar points = £50 of shopping. Not bad for spending money you were going to spend anyway.
2. Deliveroo Credit: £120 Per Year
You get £5 cashback twice a month on Deliveroo orders. That's £10 a month, or £120 over a year. The only catch is each order needs to be at least £5, which is pretty fair.
If you order Deliveroo even once or twice a month, this is basically free money. I've heard of people placing a Gregg's order for pickup (saves delivery costs) for about a fiver on their lunch break, and getting their lunch virtually for free with this perk.
3. Airport Lounge Passes: 4 Visits (worth £80 to £100)
You get four free Priority Pass lounge visits every year. These work at over 1,300 airport lounges worldwide, including all the major UK airports: Heathrow, Gatwick, Stansted, Luton, Manchester, you name it.
A lounge visit typically costs £20 to £30 if you paid for it. If you fly once or twice a year, you'll use these. Free food, free drinks, proper WiFi, and somewhere quiet to sit instead of fighting for a seat by the Wetherspoons.
Food and drink are notoriously expensive in airports, and I've managed to squeeze good value out of these lounges in the past.
4. Bonus Points on Annual Spend: Up to 10,000 Points (worth up to £100)
On top of the welcome bonus, you earn bonus points as you spend: 2,500 bonus points when you hit £5,000 of annual spend, another 2,500 at £10,000, and 5,000 more at £15,000. That's up to 10,000 bonus points a year.
Combined with the standard 1 point per £1 earn rate, you're effectively getting 1.5 points per £1 on your first £20,000 of annual spending. That's one of the best earn rates on any UK card without an annual fee in year one.
5. Purchase Protection and Refund Protection (peace of mind)
Buy something on the card and it gets damaged or stolen within 90 days? Purchase Protection covers you. Retailer refusing a refund within 90 days? Refund Protection covers you up to £300 per item.
This is genuinely useful for bigger purchases like laptops, phones, or home appliances. I had a friend whose new headphones broke after two months. The retailer said no. Amex refunded the full £180 within a week. No arguments, no fuss.
6. Amex Offers: Variable (£50 to £100 per year)
Amex runs regular statement credit offers in their app. Spend £50 at a specific retailer, get £10 back. Book a hotel through Amex Travel, get £50 back. These rotate regularly and stack on top of everything else.
How much you save depends on how many offers match your spending, but £50 to £100 a year is realistic if you check the app occasionally.
7. Travel Inconvenience and Accident Insurance (included)
The card comes with travel inconvenience insurance (delayed flights, lost luggage) and travel accident insurance. It's not a replacement for a full travel insurance policy, but it's a nice extra layer of cover at no cost.
8. Other Perks: Hertz, Avis, Global Dining
Smaller benefits include: 10% off Hertz car hire plus a free additional driver, Avis Preferred Plus status, and access to the Global Dining Collection for restaurant bookings. Nice to have, not deal-makers on their own.
The Total: £520+ of Value for £0
Here's the full breakdown:
- Welcome bonus: 20,000 points = £150 to £200
- Deliveroo credit: £120
- Airport lounge passes: £80 to £100
- Bonus points on £20K annual spend: 10,000 points = £75 to £100
- Purchase and refund protection: £50 value (conservative)
- Amex Offers: £50 to £100
- Travel insurance extras: £20 to £30
- Car hire discounts and dining perks: £10 to £20
Conservative estimate: £520. Realistic estimate if you max everything: £620+. Cost to you in year one: £0.
The Amex Preferred Rewards Gold Card (Free For Year One)
Get 20,000 bonus points when you spend £3,000+ in your first 3 months (worth £150+). Plus £120 in Deliveroo credits, 4 premium airport lounge passes (worth £100) and unrivalled purchase protection.
New customer offer only. Do your own research before signing up for any financial product.
Who Is This Card Actually Good For?
Not everyone should get this card. Here's who it makes sense for:
You spend at least £1,000 a month naturally
The welcome bonus requires £3,000 of spending in three months. If your normal spending, groceries, bills, petrol, subscriptions, already hits that, you're not changing your habits to qualify. You're just routing existing spending through the card. That's the sweet spot.
You fly once or twice a year
The four lounge passes make airport travel noticeably better. If you fly even twice a year, outbound and return equals four visits, you'll use every single one. The Priority Pass network covers almost every major airport worldwide.
Also, if you fly with a partner or spouse, you can share a lounge access pass with them.
You eat out or order in regularly
The £10 monthly Deliveroo credit is £120 a year of free food. Even if you only order in twice a month, you're capturing most of this value. If you never use Deliveroo, this benefit is worth £0 to you, so factor that in.
You have a bigger purchase on the horizon
The purchase and refund protection insurance on this card is genuinely good. If you're buying a laptop, a phone, a TV, or furniture, putting it on the Amex Gold gives you 90 days of cover if something goes wrong and the retailer won't help. That's real peace of mind on a big purchase.
find out if you qualify
Ready to check if you're eligible? Use Amex's free eligibility checker, soft credit check, takes 60 seconds, to see if you qualify for the 20,000 point welcome bonus and all the year-one perks.
The Catches: What You Need To Know
You MUST pay your balance in full every month
This is the most important thing in this entire article. The Amex Gold has a representative APR of 85.8% variable including the annual fee, and 29.1% variable on purchases in year one. If you carry a balance, the interest will wipe out every single benefit within weeks.
Set up a Direct Debit to pay the full balance each month. It takes five minutes in the Amex app and you'll never pay a penny in interest. If you can't commit to paying in full every month, this card is not for you. No shame in that, just pick a different card.
The £195 fee kicks in at year two
Year one is free. Year two costs £195. The simple play is: enjoy the free year, collect all the benefits, and then either downgrade to the free Amex Rewards Credit Card with no annual fee, before the renewal hits, or cancel outright.
Amex lets you downgrade to their free card and keep your account open, so you don't lose your credit history. You can do this via chat in the app a few weeks before your renewal date. Takes about ten minutes.
Don't overspend just to hit the bonus
The £3,000 minimum spend for the welcome bonus should come from your normal spending. If you're stretching yourself to hit it, the maths flips. Only put through what you'd spend anyway. If your natural monthly spend gets you there, it's a no-brainer.
If you feel like you'd have to overextend your spending, it's not worth it. Cash in your account today is worth more than points on your credit card tomorrow.
However, if your natural spending will qualify for the bonus, and you can repay in full every month, I think it's worth getting. This card is genuinely the best in the UK right now.
How To Apply (And Check Your Eligibility First)
Amex has an eligibility checker that tells you if you're likely to be approved before you formally apply. Crucially, it uses a soft credit check, so it won't leave a mark on your credit file or affect your score.
You need a minimum personal income of £20,000 to apply. The checker takes about 60 seconds. If it says you're eligible, the formal application will then do a hard credit check, which does show on your file, but the eligibility checker gives you a strong indication first.
Even if you're not eligible for the welcome bonus, for example, if you've held another Amex card recently, you can still apply and get all the other benefits. The lounge passes, Deliveroo credit, and purchase protection all come with the card regardless.
find out if you qualify
Ready to check if you're eligible? Use Amex's free eligibility checker, soft credit check, takes 60 seconds, to see if you qualify for the 20,000 point welcome bonus and all the year-one perks.
Frequently Asked Questions
Can I downgrade the card before the £195 fee kicks in?
Yes. Before your first anniversary, contact Amex via the app chat or phone and ask to downgrade to the free Amex Rewards Credit Card. You'll keep your account open, your credit history stays intact, and you won't pay the £195 fee. You can also cancel outright if you prefer, but downgrading preserves your credit history.
What if I don't hit the £3,000 minimum spend for the bonus?
You still get all the other benefits: lounge passes, Deliveroo credit, purchase protection, Amex Offers. The welcome bonus is the headline perk, but even without it, the card delivers about £320+ of value for free in year one. You just leave the 20,000 points on the table.
Does the eligibility checker affect my credit score?
No. Amex's eligibility checker uses a soft credit search, which is only visible to you on your credit file. It does not affect your credit score and lenders can't see it. Only the formal application involves a hard credit check.
Where can I use Amex in the UK?
Amex acceptance has improved massively. Most large retailers like Tesco, Sainsbury's, Amazon, Aldi, Lidl, and Boots accept it, along with most petrol stations and many restaurants. Small independent shops and some cafes still don't. I'd estimate about 85-90% of my usual spending goes through fine. Keep a backup Visa or Mastercard in your wallet for the odd place that doesn't take it.
How do the lounge passes work?
Once you get the card, register for Priority Pass via the Amex website. You'll get a digital membership card in the Priority Pass app. At the airport, show your digital card at any Priority Pass lounge and you're in. Your four free visits reset each membership year. After that, additional visits cost £24 each.
How do I get the Deliveroo credit?
Just pay for your Deliveroo orders with your Amex Gold card. The £5 credit is automatically applied as a statement credit for each order of £5 or more, up to twice per month. No codes, no fuss, just use the card.
What are Membership Rewards points actually worth?
It depends how you use them. Converted to Avios for flights: 0.75p to 1.5p per point. Converted to Nectar for shopping: 0.5p per point. Used for statement credit: about 0.45p per point. The best value is almost always transferring to airline partners and booking reward flights, especially business class on off-peak dates.
Is this card right for me if I've never had a rewards card before?
It's probably the best starter rewards card in the UK. Zero cost in year one, easy-to-understand benefits, flexible points you can figure out later, and a clear exit path before any fee is charged. If you're rewards-curious, this is the one to try first.
The Amex Gold is one of those rare products where the first year genuinely costs you nothing and the value is real, not marketing fluff. If you can pay your balance in full each month and your normal spending hits the minimum requirements, you'll collect £500+ of perks without changing your lifestyle.
Just remember: the only way this card makes you money is if you never pay a penny of interest. Direct Debit on, full balance, every month. Happy spending.
