⭐ Editor's Choice — Top Rated Pick
American Express® Preferred Rewards Gold Card (UK)
📍 Available in: UK
★★★★★ 4.8 / 5.0
The American Express Preferred Rewards Gold Credit Card is widely considered the highest-value rewards card in the UK for year-one value. The £195 annual fee is completely waived for the first 12 months, yet you still receive 4 complimentary Priority Pass airport lounge visits, £10/month in Deliveroo statement credits (2x £5 vouchers), and 1 Membership Rewards point per £1 spent (convertible 1:1 to British Airways Avios, Virgin Points, and 10+ airlines).
Key Facts at a Glance
| Cost / Fee Structure | £0 First Year (Then £195/yr) |
| APR / Rate | 29.1% APR Purchase (85.8% Rep. APR w/ Fee) |
| Sign-Up Bonus / Match | 20,000 Membership Rewards Points (£3k Spend in 3 Mos) |
| Credit / Eligibility | Good to Excellent UK Credit (£20k+ Income) |
Pros & Cons
✓ Pros
- ✓Completely free for the first 12 months—you can downgrade to the £0 Rewards Credit Card before Month 13 with zero penalty
- ✓£120 in annual Deliveroo credits and 4 lounge passes easily offset the Year 2 fee for city dwellers
- ✓Full Section 75 Consumer Credit Act protection on eligible purchases £100–£30,000
✕ Cons
- ✕Charges a 2.99% non-sterling foreign transaction fee (always switch to Chase UK or Starling when traveling abroad)
- ✕Not accepted by some independent UK merchants or council portals
Key Features
£0 Annual Fee in Year 1 (Saves £195 Immediately)4 Free Priority Pass Airport Lounge Visits Every Year£120/yr in Deliveroo Credits (£5 Back Twice a Month on UK Orders)Up to 12,500 Bonus Points Per Year Based on Annual Spend Milestones1:1 Point Transfers to British Airways Avios, Virgin Atlantic & Flying Blue
Compare American Express® Preferred Rewards Gold Card (UK) Side-by-Side
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