American Express Reward Cards
We currently have four American Express reward costs that cater for different types of customer.
Do you use British Airways? If so, the British Airways American Express credit card could be for you. You’ll get 5,000 bonus Avios points when you spend £1,000 within the first three months of membership. You’ll also collect 1 Avios for virtually every £1 spent. An additional benefit is travel and shopping protection.
That’s not all though. If you spend £20,000 or more on your card within a year, you’ll earn a complimentary Companion Voucher.
As the cards interest rate is 22.9% - higher than many other cards, it pays to ensure that you clear your balance each month so as not to incur interest.
If you’re a very frequent flyer, there is also the British Airways American Express Premium Plus credit card. This gives you 25,000 Avios when you spend £3,000 on your card within the first three months of opening the account. You’ll then receive 1.5 Avios for virtually every £1 spent and benefit from travel insurance of £250,000.
If you spend £10,000 or more in a year you’ll receive the complimentary Companion Voucher, valid for 24 months.
However, the British Airways American Express Premium Plus credit card does come with a £195 annual fee. As this annual fee is included in the calculation of the APR, it means that the quoted APR is 76%. The purchase interest rate on the card is 22.9% before the fee, the same as the other British Airways card.
If hotels are important to you, there is the Starwood Preferred Guest credit card from American Express. This card gives you a 10,000 Starpoints bonus if you spend £1,000 in your first three months with the card. You’ll then earn 1 Starpoint for every £1 you spend.
The card does come with a £75 annual fee which takes the APR to 36.2%. The purchase rate on the card is 19.9%.
If Nectar points are your thing, there is also the Nectar credit card from American Express. If you spend £2,000 in your first three months, you’ll get 20,000 bonus Nectar points. You’ll also get 4 points for every £1 spent with Nectar partners and 2 points for every £1 elsewhere.
The card does have an annual fee of £25 which increases the purchase rate APR of 22.9% variable up to 25%.
Given the fees and relatively high rates of interest, these cards are only practical if you pay off the balance and seriously use the points and Avios on offer. If you don’t, there are better options for you.