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More Amex cuts: Gold, Platinum and Amex Rewards sign-up and referral bonuses reduced

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Last month American Express made some aggressive – and frankly confusing – changes to the rules regarding who qualifies for a sign-up bonus on its personal UK cards.  My summary of the Amex sign-up rule changes is here.

There are now further changes.  This time American Express has changed the sign-up bonuses and referral bonuses on some cards.

Which cards have changed?

The changes impact American Express Preferred Rewards Gold, The Platinum Card and the American Express Rewards Credit Card.

The changes were due to go live at midnight last night and are already in effect.

What are the changes to sign-up bonuses?

On Preferred Rewards Gold:

The sign-up bonus has been halved from 20,000 Membership Rewards points to 10,000 Membership Rewards points

The qualifying spend required to earn the bonus has increased from £2,000 within three months to £3,000 within three months

If you are referred by a friend to the card, you will receive a higher sign-up bonus of 12,000 Membership Rewards points (previously 22,000 Membership Rewards points)

On the American Express Rewards Credit Card:

The sign-up bonus has been halved from 10,000 Membership Rewards points to 5,000 Membership Rewards points

The qualifying spend required to earn the bonus has increased from £1,000 within three months to £2,000 within three months

On the American Express Rewards Low Rate Credit Card:

The sign-up bonus has been halved from 5,000 Membership Rewards points to 2,500 Membership Rewards points

The qualifying spend required to earn the bonus has increased from £500 within three months to £1,000 within three months

There is no change to the sign-up bonus or spending target on The Platinum Card.

What are the changes to referral bonuses?

With Preferred Rewards Gold:

The bonus you receive for referring a friend falls from 9,000 Membership Rewards points to 6,000 Membership Rewards points

The annual cap on referral points remains at 90,000 points

With The Platinum Card:

The bonus you receive for referring a friend falls from 18,000 Membership Rewards points to 12,000 Membership Rewards points

The annual cap on referral points remains at 90,000 points (if you refer 8 people, you only receive 6,000 points for the last one as you hit the 90,000 points cap)

There are no referral bonuses for the American Express Rewards Credit Card.

There are no changes at all, for now, to the British Airways, Nectar and Starwood card bonuses.

American Express Rewards Credit Card

What is going on here?

On the face of it, some of these changes do not make a lot of sense.  Primarily, why should you need to spend £3,000 to get the bonus on Preferred Rewards Gold when you only need to spend £2,000 to get the bonus on The Platinum Card?

I get a feeling that American Express is pulling back from its attempts to make Preferred Rewards Gold a mass-market product.  There is no other logical reason for pushing up the target spend to £3,000 in three months, which for Mr & Mrs Average is likely to be more than their remaining cash once housing costs and household bills are paid.

It is possible that the American Express Rewards Credit Card will be positioned as the mass-market product, although doubling the target spend to receive the sign-up bonus will also reduce the market for this product.

I am not really concerned about the changes to the American Express Rewards Credit Card, because the only reason a HfP reader should get this is to ‘protect’ your Membership Rewards points from deletion if you choose to cancel your Gold or Platinum card.  I explain more in this article.

Is Amex risking long term damage by cutting off the ‘path’ for new cardholders?

My first American Express card, a long time ago, was a Gold.  Over time I progressed to The Platinum Card, and then – when it launched in 2004ish – the British Airways Premium Plus card, which was initially free to holders of The Platinum Card.

I suspect that – outside the world of Head for Points readers, who are well educated by our articles on the benefits of each card – most people start off with the free cards and then progress.  This is either as their income increases (so they can afford the annual fees on the premium cards) or as they become more comfortable with American Express as a partner.

Amex has now made ‘progressing’ less attractive.  For example:

if you start with the ‘free for life’ American Express Rewards Credit Card or ‘free for the first year’ Amex Gold, you are disqualified from the bonus on the free British Airways card or the Starwood card

if you start with the free BA Amex but decide that narrowing your focus to just Avios rewards makes no sense, you are locked out of the bonus on Gold, Starwood etc

if you start with the Starwood card but decide that Marriott Bonvoy no longer offers good value redemptions, you are locked out of the bonus on Gold and the free BA card

There are also no upgrade bonuses to persuade people to go from the free BA card to Premium Plus, or from the new credit card version of Preferred Rewards Gold to The Platinum Card.

And what is ‘the best starter card’ now?

HfP has generally promoted Preferred Rewards Gold as the best ‘starter’ card for someone coming into travel rewards.  This is because:

it had a generous sign-up bonus of 20,000 points (=20,000 Avios)

the points could be converted to a LOT of different rewards programmes, so you didn’t have to focus too early whilst you learned the ropes

you got your first year for free

you got two free airport lounge passes

you were free to earn a bonus on the BA or Starwood cards at a later date if you did choose to specialise

The situation is now different:

the sign-up bonus has been halved to 10,000 points (=10,000 Avios)

the target spend has been increased to £3,000 in three months

taking out Preferred Rewards Gold now blocks you from getting a sign-up bonus on a later date for the free British Airways card or the Starwood card – your only option for another bonus is the British Airways Premium Plus card

Overall, I am still tempted to say that Amex Gold is the best starter card for most people.  There is still a bonus, albeit lower, and the two free airport lounge passes will open your eyes to what your miles and points can do for you.  There is still no fee for the first year.

It is arguably better than telling people to start with the free BA Amex, which blocks them from both the Amex Gold bonus and the BA Premium Plus bonus.  In reality, the best ‘first’ card is probably:

The Platinum Card – but most people who are new to Amex won’t want to stump up £450, or

The Starwood Preferred Guest American Express card – because you can still get a bonus on both The Platinum Card and British Airways Premium Plus later, and you only need to spend £1,000 to trigger the sign-up bonus.  However, this is a confusing card for a beginner (even explaining why the Marriott card is called the Starwood card isn’t simple), it has a fee and the two cards you can upgrade to both have even chunkier fees which a lot of the market doesn’t want to pay.

The ‘keep it simple, stupid’ school of marketing is one which I have always believed in, but the current run of changes at American Express seems to be putting that to the test.


earns points from credit cards

Want to earn more points from credit cards? – April 2025 update

If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.

In 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.

You qualify for the bonus on these cards even if you have a British Airways American Express card:

Barclaycard Avios Plus card

Barclaycard Avios Plus Mastercard

Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review

Barclaycard Avios card

Barclaycard Avios Mastercard

Get 5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review

You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.

American Express Preferred Rewards Gold

Your best beginner’s card – 30,000 points, FREE for a year & four airport lounge passes Read our full review

British Airways American Express Premium Plus

30,000 Avios and the famous annual 2-4-1 voucher Read our full review

The Platinum Card from American Express

80,000 bonus points and great travel benefits – for a large fee Read our full review

Virgin Atlantic Reward+ Mastercard

18,000 bonus points and 1.5 points for every £1 you spend Read our full review

Earning miles and points from small business cards

If you are a sole trader or run a small company, you may also want to check out these offers:

American Express Business Platinum

50,000 points when you sign-up and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

20,000 points sign-up bonus and FREE for a year Read our full review

Capital on Tap Pro Visa

10,500 points (=10,500 Avios) plus good benefits Read our full review

Capital on Tap Visa

NO annual fee, NO FX fees and points worth 1 Avios per £1 Read our full review

British Airways American Express Accelerating Business

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review

Comments (494)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • Bob says:

    Amex have changed to goal posts completely so my household I’ll hang onto BA Amex (with my wife’s supplementary card) instead of churning it and just churn the Gold card every 11 months with my wife as 1st year is free and lounge passes etc although if they start charging on the 1st year they will lose that one. With what’s happened at Curve as well I would think they may lose a little popularity!

    • Dominic says:

      But churners are not who they want in the first place… I think they’ll gladly lose this “popularity”.

  • Alex W says:

    I applied last year and was rejected. Have since successfully applied for 2 other amex cards.

  • Mike says:

    Has anyone received an email from Amex with a link to a survey about the Gold card? I completed it a couple days ago, and the questions (among others) revolved around additional benefits (including recurring credits for airline spend) and other perks typically associated with the Platinum card in the US.

    Was actually intrigued they were asking that sort of questions about the Gold card, hinting there may be more value in it in the future than there is in the Platinum card.

  • ROry says:

    Why are people still bothering with Amex? I really don’t understand other than every two years?

    • The Badger of Bagdad says:

      Desperation.

    • Mark2 says:

      It’s secret!

    • JPa says:

      Now looking a look more seriously at the vouchers that can be bought via various employee/health/childcare schemes . Most of these offer around 3.5% to 4% discount for supermarkets and 5 to 10% for other retailers like M&S, John Lewis, New Look, H&M, Currys, Ikea, B&Q etc. Some of these are now offering instant vouchers so you can do your shop and buy the vouchers straight away for the amount you need (as don’t like to leave money on gift vouchers as can forget about them or company goes broke etc).

      Can be paid for with Curve or some take visa/mastercard direct (so use IHG/Virgin/Hilton etc). With these you can end up saving more than even in a bonus period with Amex (which usually was at most 10% for the first £2000 on gold/plat, but around 5% on others), an why higher than after the bonus period finished.

      • MarcB says:

        Our company’s vouchers can all be bought with Amex on top – great way of routing B&Q spend onto Amex cards

  • Jonah says:

    “Pigs”?? Get a grip!

    • Badger says:

      Apologies. If you can think of a greedier animal, feel free to substitute it for ‘pig’.

      • Shoestring says:

        gourmand

      • The Badger of Bagdad says:

        The irony being those same gourmands will now have to eat scraps in steerage due to their excessive greed.

  • Ian M says:

    So nothing has changed with the business Platinum card? You still receive 18k points for referring someone?

  • Bazza says:

    When the last round of cuts were announced and it was suggested mass churning was a factor many protested it wasn’t so.
    Amex don’t read this blog?
    Amex encouraged our churning?

    Then the new plan on here was for limited churning followed by mass referrals.

    Now this announcement.

    Still deluding yourself?

    You did it to yourself again……

    • Mark2 says:

      You make us feel really powerful. Can we do something about Brexit?

    • guesswho2000 says:

      I really don’t think Amex are naive or stupid enough to need comments on here to work out that the referral programme would be open to abuse in the absence of the signup bonuses…

      • Lady London says:

        I wouldn;t necessarily accuse quite a few large, apparently competent and successful companies of necessarily always operating joined-up thinking on marketing initiatives. Take the Hoover scandal, for example. One hand may well give, and in doing so take away something that was important to another part of the same company.

        • RussellH says:

          Nice to see someone else remember Hoover. I never went for it, but my cousin did, and she and her friend got a brilliant holiday out of it.

        • Lady London says:

          My other half did, he thought Hoover would go bust and he might not get the offer redeemed but in the end he got a short holiday in New York.

          Just goes to show that some marketing initiatives and some other decisions made by even apparently quite competent companies are half-baked.

        • Name says:

          Would that be the same Diners that Rob was recommending only a few weeks ago? 😉

    • Russ says:

      Sorry but this argument doesn’t make sense. Amex have also raised the first three month bonus spend to £3000 pounds from £2000. For HFP people on limited resources then it’s now harder for them but for the more affluent HFP’er it makes no difference. So how do we get to both HFP groups dong it to ourselves?

      • Lady London says:

        American Express is clearly communicating to us what sort of customers they would like to have.

        They want customers who need only half the amount of incentive they had before to sign up, and who are willing to spend twice as much as before, in order to qualify for the said incentive.

        so that’s 4 times the effort required now to become an American Express customer, than before. So, a 75% devaluation in what American Express will give you now, in order to join them.

        Alternatively you can show you’re serious and a ‘man of means’ and just pony up £450. For which, if you’re the sort ot traveller that can use their benefits package, actually is still reasonable value. they couldn’t push the price up much though IMV, before it wouldn’t be good enough value.

        American Express has spoken, Just like British Airways did, when they clearly let us know they didn’t want SME’s in their On Business scheme anymore. Let’s listen, folks., and walk, But we are only in a strong position to walk, if there are better alternatives. Are there? American Express must have decided there aren’t, at least so far as their chosen market in the UK is concerned.

        • Lev441 says:

          The problem is, there isn’t much else out there in the UK market so I still think they hold all the cards so to speak..

      • BillyBass says:

        If this was just about cleansing themselves of the plebs they would reintroduce the minimum income criteria. Amex is clearly moving away from personal customers, just like Diners did awhile back. I would put money on them moving towards offering their products to business and corporate customers only. Or perhaps Amex just pull out of the UK altogether?

    • Tilly71 says:

      Keeping the “Riff Raff”out of premium cabins reminds me of similar statements made about the Tesco tourist & not rubbing shoulders with the “well heeled”on here in previous months. Take these people away would probably reduce this sites members by 80%. 😀

      • Mr Deltoid says:

        But look at the old footage of how first class used to be. A civilized experience with well dressed and appropriately behaved patrons. A complete contrast to today when you get people who have points but no idea how to behave in an upper class cabin, dirty feet on the seats, letting their children climb all over the seats, drinking as much as possible just to test out all the drinks they can’t normally afford etc. The sooner that goes away the better, and this is a good step towards that.

        • Rob says:

          In those days, you’d be paying £15,000 – £20,000 per ticket in todays money.

          You’re out of touch with where the money is these days. The average salary paid by Google in the UK, and this includes the support staff, is £266,000 I saw last week. You have 4,000 London bankers on £1m and tens of thousands more, many in their early 30s or late 20s, on high six figures. You have (literally) kids making seven figures a year putting videos of themselves playing video games on YouTube.

          All the people you see flying in those 1950’s posters – and I have two in the HFP office – lost their ‘old’ money to death duties and high inflation in the 1970s.

          Sometimes you just need to accept that your time has gone ….

          • Alan says:

            Holy crap! Really glad I spent 6 years at Uni and 13 years in postgrad training to earn a fraction of that…

      • Andi says:

        Mr Deltoid, you’re making an assumption that all people that can afford premium cabins (or whose companies can) also know how to behave. Money doesn’t buy class or manners and quite often – even among my colleagues – you find it’s actually the sense of entitlement of some that breeds poor manners and slovenly behaviour.

      • Mr Deltoid says:

        Andi, you are absolutely correct, I’ve seen horrendous behavior from people with a sense of entitlement. However, answer me a simple question. If you were on a long haul economy flight and everything else was the same, would you prefer to share your plane with paying BA passengers, or paying Ryanair passengers. If you even have to think twice, you’re a snob too.

      • Anna says:

        Mr Deltoid, I have never seen people behaving like that in a CW cabin, maybe your destinations are a tad down market to start with?! In my experience CW passengers are positively dull – politely declining the champagne and cognac and disappearing beneath their headphones for 8 hours; and I tend to travel in the school holidays as well!

      • Mr Deltoid says:

        Anna, I’ve never actually been in CW, so I can’t comment. It does look rather dull. Maybe it’s just those who are in First who get over-excited and let their kids run riot all over the seats like it’s a play area. To be honest though, I do travel between Chicago and London a lot so there is a larger proportion of Americans on board than the average flight, which may explain it in part. The behavior on flights from the Far East does some to be somewhat better, but I try to avoid BA if possible on that route anyway.

      • Lady London says:

        @Mr Deltoid the ones with bare feet, who put their feet up on the wall in the bulkhead seats, dress uber-casually etc., those are often the multimillionaires these days.

        I don’t care who people are as long as they behave decently.

      • Mr Deltoid says:

        @Lady London

        i totally agree. I was once on a flight with a very, very well known ( now dead ) celebrity with his actress girfriend from Hawaii to LA, they had their feet on the bulkhead for most of the flight and proceeded to ‘get it on’ for want of a better phrase infront of the entire cabin for the first hour of the flight. I’m no prude but it was rather embarrassing considering I was with my elderly mother. It does seem to be the very poorest and the very richest who are the worst behaved. However there’s nothing worse than being on a flight with the increasing ubiquitous ‘vlogger’ who proceeds to parade around the cabin like a shaved chimp documenting everything. Although to be fair, some of those even pay for their seats these days. Personally I’d like to implement some kind of riff-raff test before people are allowed onto a flight. Japanese people would be exempt,and American’s given extra scrutiny. I’m not sure it’s very scientific yet, but we have to start somewhere.

      • Mr Dee says:

        You for sure can’t blame people who use points for being amongst the riff raff, in fact I would assume that they are less likely to be riff raff.

    • BJ says:

      Isn’t this a bit rude to the riff-raff? I would bet one of my flats the the FA working premium cabins, and their off-duty colleagues, family and friends occupying most of the premium seats prefer serving an mixing with the riff-raff than with a bunch of pompous (fill in the blanks).

      • Tilly71 says:

        That would be back in the days when BA First was a luxurious product with cabin crew carving your meat in front of you off a trolley. Those days have long gone Mr.Deltoid. I have witnessed awful etiquette from the so called upper class on premium flights & behaviour in lounges like clipping toe nails on coffee tables.

      • Lloyd says:

        The thing about points and miles is it gives people something to aspire to when they may not necessarily be able to pay the sums required for a civilized travel experience. I earn peanuts from flying as I don’t fly for business so my miles come from credit card spend. As a well educated professional with 2 degrees, I aspire to have the best travel experience I can within my means. My wife and I travel to Hong Kong each year to visit family and would love to be able to sit in comfort and be able to sleep on a plane for a 12 hour flight, which I can’t do in economy. We have recently started flying premium economy when we make this trip as the experience is better, but still not a patch on what we would like to be able to experience. We, along with many others simply cannot afford to pay the fare difference it would cost to get into business class; therefore for us, being able to redeem miles has enormous value. Even if we can only earn enough miles for business class once every few years, it still gives us something to aspire to and makes something attainable, which we could not otherwise afford to do. In my experience, based on the people who I come into contact with through my profession, the ones rolling in money are often the ones who have a sense of entitlement, and who ruin such experiences for the rest of us. Therefore you cannot term people ‘riff-raff’ simply because they cannot afford to pay the thousands of pounds extra which are required to sit in comfort on a plane. Fare difference between economy and premium is often a total of £400 to go to HK. To fly business, we would need around an extra £3000…

      • Lady London says:

        “and their off-duty friends, family and colleagues occupying most of the premium seats…” I love it, @BJ 🙂

    • SteveD says:

      Maybe.

      Or maybe when BA finds it can’t fill it’s cabins with redemptions any more, it will have to reduce cash prices, and open the seats up to the ‘riff-raff’ again.

      Also, the behaviour of the ‘entitled’ isn’t necessarily any better than that of the hoi polloi, in my experience. YMMV.

      • Mr Deltoid says:

        For those who seem to think seat price doesn’t equal customer class, and are busy patting themselves on the back for their lack of snobbery. Ask yourselves everything else aside, would you prefer to be on a flight of paying BA passengers, or paying Ryanair passengers? Be honest.

      • SteveD says:

        I’m not sure I implied that…more that the propensity to rinse the in-flight bar cuts across class boundaries.

        Also, lets be clear – Kevin and Sharon and their 2 feral kids didn’t turn left for free did they?
        If they’re in LH CW they’ve stumped up 4 x YQ plus a substantial 6 figure number of miles, which – churning or not – still requires a hefty investment.

      • Mr Deltoid says:

        @Steve

        Perhaps a hefty investment in time recycling Tesco cartridges / Lego on Ebay though no?

      • SteveD says:

        Hmm, what is this recycling of lego on Ebay of which you speak….? 😉

      • Mr Deltoid says:

        @SteveD. Shhhhhhhhh, do you want First to look even more like a scene from Planet of the Apes this time next year :O

    • Octopus says:

      Most knowledgeable ‘riff raff’ would opt for a table at a 3 star restaurant

      • Mr Deltoid says:

        Well hopefully from now on the knowledgeable riff-raff can opt for a seat in premium economy.

      • Matt says:

        Whats the financial boundary for riff raff? I have just claimed 240,000 miles to fly 2x F class on ANA, half of which I earnt and the rest was mainly AMEX referrals, spend objectives and special offers. I drunk the Krug, and tried the Hibiki Suntory 21 Year Old Whiskey, because I could. I didnt pay the £35000 the 2 tickets would have cost, but merely £344 (and 20 pence) because I flew from IAD.

        I might not have paid much, but there was a substantial number of interchange fees and generated business created!

      • Mr Deltoid says:

        Lovely, you’re always safe on ANA though, Japanese don’t misbehave, ever, which makes the riff-raff much more aware of their own behavior. If you’ve ever been on Ryanair to Prague, put your feet on the bulkhead, let your children climb all over the seats, or upskirt the cabin crew you’re riff-raff, which I believe was actually done by a paying passenger of all people. Shame on him.

    • Jonah says:

      What are a ghastly man.

    • BillyBass says:

      You’re talking about a card that has non minimum income criteria. Even bloody Barclaycard has a minimum income criteria! Stop living in the 1980s granddad, Amex is not exclusive, nor is it a premium product.

  • Peter K says:

    It’s frustrating when the changes affect your own personal goals, isn’t it Julian.

    • TripRep says:

      I’m amazed AMEX didn’t consult Jules before making this decision, surely an oversight on their part?

      • Name says:

        You’re like a bunch of school girls. What on earth are you going to do when the emperor is showing to have no clothes! Amex has no love for the UK, there isn’t any exciting news coming (apart form a price hike on the annual fee); just a naff looking sparkly card, patchy acceptance (despite being in the UK for nearly 60 years) and mediocre insurance. Enjoy your points while they’re still worth something!

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