What is the best American Express strategy if you earn under £35,000?
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Back in July 2023, American Express introduced minimum income requirements on its UK credit cards. Here’s our story.
Up to this point, the company had taken a more holistic view. It was interested in household income, and interested in the gap between income and expenditure. There were no stated minimums, which made sense in a world where someone on a low salary living at home has more disposable cash than a couple on average incomes with a mortgage and children.
For whatever reason, this strategy was dropped in favour of a cruder minimum income one.
What are the UK American Express salary limits?
There are now two salary limits in place:
- the ‘high fee’ cards (British Airways Premium Plus, The Platinum Card) have a mininum income requirement of £35,000
- the remaining cards (in our universe these are Preferred Rewards Gold, Nectar, Marriott Bonvoy, free British Airways card, American Express Rewards Credit Card) have a minimum income requirement of £20,000
When it comes to getting bonuses on multiple cards, you MUST have a £35,000 income. This is because only the ‘high fee’ cards unlock the ability to earn multiple sign-up bonuses:
- you can get the bonus on The Platinum Card (50,000 Membership Rewards points) as long as you haven’t had a Membership Rewards card (Gold, Platinum, Amex Rewards Credit Card) in the last 24 months – you are totally OK if you’ve only had a British Airways, Marriott or Nectar card
- you can get the bonus on British Airways Premium Plus (30,000 Avios) as long as you haven’t had a British Airways American Express in the last 24 months – you are totally OK if you’ve only had a Gold, Platinum, Marriott, Nectar or American Express Rewards Credit Card
Putting these rules together, someone who earns £35,000+ and hasn’t had any American Express cards for 24 months could get THREE bonuses back to back:
- Card 1 – Marriott or Nectar
- Card 2 – British Airways Premium Plus or The Platinum Card
- Card 3 – whichever of the Card 2 list is left
If you look at the rules above you’ll see that this works out.
But what if you earn under £35,000?
A reader recently asked me for American Express card suggestions for anyone earning between £20,000 and £35,000 per year. After all, the average UK salary falls squarely in the middle of this range.
Your options are limited, I’m afraid.
You can only apply for the following travel rewards cards, and you will only get a bonus on the first one you get (assuming you haven’t had an American Express card for 24 months):
- American Express Preferred Rewards Gold (free in year 1, £195 thereafter)
- Marriott Bonvoy American Express (£95 per year)
- Nectar American Express (free in year 1, £30 thereafter)
- free British Airways American Express (free)
- American Express Rewards Credit Card (free)
There isn’t a lot to play with here.
However, there is one thing you can do.
Separate out the card you want a bonus on from the card you want to keep long term. These do not need to be the same card.
You then:
- apply for the card which has the most attractive bonus
- do the necessary spending to earn the bonus
- cancel the card and apply for the one you actually want to keep long term (but you won’t get a bonus on it)
Which card has the most attractive bonus?
It is usually Preferred Rewards Gold, reviewed here and apply here. You get 20,000 Membership Rewards points which, if transferred to airline miles (eg into 20,000 Avios), are arguably worth £200.
SPECIAL OFFER: Until 27th May 2025, the sign-up bonus on the ‘free for a year’ American Express Preferred Rewards Gold card is increased from 20,000 Membership Rewards points to 30,000 points. Points convert 1:1 into Avios (30,000 Avios!) and many other programmes. Some people may see even higher personalised offers. Click here to apply.
Even better, Preferred Rewards Gold is free for year 1 and comes with four airport lounge passes and 24 x £5 Deliveroo credits.
The value is debatable after year 1, but for the free first year you’re laughing, I think.
Of the others:
- the Marriott Bonvoy card has a bonus of 20,000 Marriott Bonvoy points (which we value at £100) but you have to pay a £95 annual fee
- the Nectar card has a bonus of 20,000 Nectar points, which are worth £100 to spend in-store or 12,500 Avios if converted. We’d value the Avios at £125 and the card has no fee in year 1.
- the free British Airways card has a bonus of 5,000 Avios, which is the weakest of the lot, although the card is free for life
- the American Express Rewards Credit Card has a bonus of 10,000 Membership Rewards points which convert to 10,000 Avios or other miles (which we value at £100) and is free for life
None of these cards has a bonus which beats Preferred Rewards Gold, in my view.
What should be your long term card?
This may not be the answer you are expecting.
The Marriott, Nectar and Preferred Rewards Gold cards carry annual fees from year 2 (the Marriott Bonvoy card has a fee from year 1). If you are earning under £35,000 I don’t think you will be spending enough on your card to justify the fee versus what you will get back.
This leaves two free options – the free British Airways card and the American Express Rewards Credit Card.
If you earn under £35,000 then you are unlikely to be spending £15,000 per year on the free British Airways American Express card. This means that you won’t trigger the annual 2-4-1 companion voucher, which in any event is only valid in Economy. The only value the card has for you is that it earns 1 Avios per £1 spent. You don’t even get an extra bonus for spending at ba.com.
You are better off with the American Express Rewards Credit Card. This is because you earn 1 Membership Rewards points per £1, which converts to 1 Avios. However, you also have the option to convert them to many other travel rewards schemes (airlines, hotels, Eurostar) or indeed for High Street gift cards or statement credit.
In summary ….
If you earn between £20,000 and £35,000 and asked me for advice on the best way to start with American Express, I would say:
- get American Express Preferred Rewards Gold, given the 20,000 Membership Rewards points bonus (our full review is here, apply here)
- keep it for a year to maximise the 24 x £5 Deliveroo credits and the four free airport lounge passes
- move to the ‘free for life’ American Express Rewards Credit Card, earning 1 Membership Rewards point per £1 on your spending
However, someone who believes that their income will increase and exceed £35,000 in the next couple of years may want an alternative plan.
You could get either the Marriott Bonvoy or Nectar card initially, leaving yourself able to apply for BOTH The Platinum Card and British Airways Premium Plus – and get both bonuses – once you hit the £35,000 salary threshold.
Other reading:
This article looks at the best way to use American Express Membership Rewards points.
This article looks at the two American Express cashback credit cards which I haven’t considered here (as this is a travel rewards website) but which are also competitive for a long term card.
Interest rate information for the cards discussed above:
All of these cards carry high interest rates. You should only apply if you are certain that you will clear your balance each month and avoid any interest charges.
Sign-up bonus and earn rate:
- Get 30,000 Membership Rewards points when you spend £3,000 within three months
- This is a special offer which runs until 27th May 2025
- Earn 1 Membership Rewards point per £1 spent
- Get up to 12,500 bonus points each year based on your total spending
- Earn double points on all airline and overseas spend
- Points transfer at 1:1 into Avios and Virgin Points
- You can also convert to other airlines, Eurostar and hotel schemes
Other information:
- Amex Gold is our recommended ‘first card’ for a miles and points beginner
- Get four free airport lounge passes when you sign up, and a further four each year
- After your four free passes, you can visit further lounges for a small fee
- You receive £120 of Deliveroo credit each year (24 x £5 credits)
- Annual fee: Free for the first year, £195 from Year 2
Representative 87.8% APR variable. Annual fee applies after the first year.
You will receive 30,000 American Express Membership Rewards points as a sign-up bonus on the American Express Preferred Rewards Gold card if you spend £3,000 within three months of signing up.
This is a special offer which runs to 27th May 2025. The standard offer is 20,000 Membership Rewards points.
Membership Rewards points are hugely flexible, which is why we recommend this as the best choice for your first miles and points card. You can transfer them into Avios, Virgin Flying Club or other airlines (at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.
You are OK if you had a supplementary card on someone else’s American Express account.
You are OK if, currently or in the previous 24 months, you have held a Business American Express card.
For clarity, you can still apply for the American Express Preferred Rewards Gold card even if you do not qualify for the bonus. You would still benefit from the four free airport lounge passes and the ‘no fee in Year 1’ offer.
American Express Preferred Rewards Gold comes with four free airport lounge passes. These allow either you and up to three friends, or yourself four times, to visit any of the 1,400 lounges in the Priority Pass network. You make additional lounge visits for £24 per person. You receive an additional four free passes each year.
You earn double Membership Rewards points on all airline spend (made directly on an airline website) and all spend made outside the UK.
You will receive up to 12,500 bonus Membership Rewards points each year, based on how much you spend.
You receive £120 of Deliveroo credit each year. Amex will repay you £5 for the first two Deliveroo orders charged to your Gold card each month.
Other benefits include a 10% discount on Hertz car rentals, Avis Preferred Plus car rental status and special deals at 1,000 selected hotels worldwide, where Preferred Rewards Gold cardholders receive a $100 in-hotel credit when booking a 2+ night stay.
You need a minimum personal income of £20,000 to apply for the card.
Sign-up bonus and earn rate:
- Get 80,000 Membership Rewards points when you spend £10,000 within six months
- This is a special offer which runs to 27th May 2025
- Earn 1 Membership Rewards point per £1 spent
- Points transfer at 1:1 into Avios and Virgin Points
- You can also convert to other airlines, Eurostar and hotel schemes
Other information:
- Two Priority Pass cards, each allowing two people into 1,400 airport lounges
- Elite status in four major hotel loyalty programmes
- Comprehensive travel insurance
- £400 per year of restaurant credit (T&C apply)
- £50 per half year of Harvey Nichols credit (ends June 2025)
- Annual fee: £650
Representative 698.1% APR variable based on an assumed £1,200 credit limit and £650 annual fee. Interest rate on purchases 30.4% APR variable.
You will receive 80,000 American Express Membership Rewards points as a sign-up bonus on The Platinum Card if you spend £10,000 within six months of signing up.
This is a special offer which runs to 27th May 2025. The standard bonus is 50,000 Membership Rewards points.
Membership Rewards points are hugely flexible. You can transfer them into Avios, Virgin Points or other airlines (usually at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.
This is the ONLY personal American Express card where you still qualify for the bonus if you already hold a British Airways American Express card.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card which earns Membership Rewards points. This includes The Platinum Card and Preferred Rewards Gold.
You are OK if you had a supplementary card on someone else’s American Express account.
You are OK if, currently or in the previous 24 months, you have held any other American Express card, including the British Airways, Marriott and Nectar cards.
For clarity, you can still apply for The Platinum Card even if you do not qualify for the bonus. You would still benefit from the long list of other benefits.
The Platinum Card from American Express comes with an unrivalled list of benefits for the keen traveller.
Your personal travel patterns will determine which of these is the most valuable. The key benefits are:
Full comprehensive travel insurance for you, your family and the family of your supplementary cardholder, subject to enrolment
Two Priority Pass cards, each of which allows the holder and a guest unlimited free access to 1,400 airport lounges
Elite status in four major hotel loyalty schemes: Marriott Bonvoy (Gold), Hilton Honors (Gold), Radisson Rewards (Premium), MeliaRewards (Gold)
Access to Eurostar lounges, irrespective of travel class
£200 per year to spend in over 170 UK restaurants (£100 per half year)
£200 per year to spend in over 1,500 international restaurants (£100 per half year)
£50 to spend at Harvey Nichols, instore or online (£50 per half year, this benefit ends on 30th June 2025)
You need a minimum personal income of £35,000 to apply for the card.
Sign-up bonus and earn rate:
- Get 10,000 Membership Rewards points when you spend £2,000 within 90 days
- Earn 1 Membership Rewards point per £1 spent
- Points transfer at 1:1 into Avios and Virgin Points
- You can also convert to other airlines, Eurostar and hotel schemes
Other information:
- Your best choice if you want a ‘free for life’ card which earns Membership Rewards points
- A good choice if you want to close a Gold or Platinum card but keep your points intact
- Annual fee: Free
Representative 30.4% APR variable
You will receive 10,000 American Express Membership Rewards points as a sign-up bonus on the American Express Rewards card if you spend £2,000 within 90 days of signing up.
Membership Rewards points are hugely flexible. You can transfer them into Avios, Virgin Flying Club or other airlines (at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.
You are OK if you had a supplementary card on someone else’s American Express account.
You are OK if, currently or in the previous 24 months, you have held a Business American Express card.
For clarity, you can still apply for the American Express Rewards card even if you do not qualify for the bonus. You may want to do this if you are thinking of swapping your Preferred Rewards Gold or Platinum card for a free alternative, and would prefer to keep your existing Membership Rewards points balance alive.
American Express Rewards is the only ‘free for life’ American Express card which lets you collect Membership Rewards points.
We do NOT recommend this card if you would also qualify for the sign-up bonus on American Express Preferred Rewards Gold. The Gold card is free for the first year, comes with four free airport lounge passes and £120 of Deliveroo credit and has a higher sign-up bonus of 20,000 points.
The best reason to get American Express Rewards is if you are coming to the end of your free first year with American Express Preferred Rewards Gold, or no longer want to pay the fee on The Platinum Card, but want to keep your Membership Rewards points intact.
You need a minimum personal income of £20,000 to apply for the card.
Sign-up bonus and earn rate:
- Get 5,000 Avios when you spend £2,000 within 90 days
- Earn 1 Avios per £1 spent
Other information:
- Receive a companion voucher, letting you book two flights for the Avios of one, when you spend £15,000 in a card year
- A solo traveller can use it for a 50% discount on the Avios for one ticket
- The companion voucher is only valid on Economy flights
- It can be used on British Airways, Iberia and Aer Lingus
- Annual fee: Free
Representative 30.4% APR variable
You will receive 5,000 Avios as a sign-up bonus on the free British Airways American Express card if you spend £2,000 within 90 days of signing up.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.
You are OK if you had a supplementary card on someone else’s British Airways American Express account.
You are OK if, currently or in the previous 24 months, you have held a Business American Express card.
For clarity, you can still apply for the British Airways American Express card even if you do not qualify for the bonus. You would still benefit from the companion voucher and the other card benefits.
When you spend £15,000 on the British Airways American Express card, you receive a companion voucher entitling you to book two Avios redemption flights for the miles of one. This voucher is valid for one year. (Full taxes and charges need to be paid on both tickets.)
The voucher on the free British Airways American Express card can only be used on Economy flights.
The voucher can be used for Avios bookings on British Airways, Iberia and Aer Lingus.
You receive your voucher within a few days of reaching the spending target. You need to fly the outbound leg of your 2-4-1 flight before the expiry date of the voucher.
If you want more flexibility, the voucher issued with the British Airways Premium Plus American Express card is valid for two years, requires the same £15,000 of annual card spend and is valid in ALL cabins including Business and First. The Premium Plus card also has a higher earning rate of 1.5 Avios per £1 on general spend and 3 Avios per £1 on spend with British Airways and BA Holidays.
You need a minimum personal income of £20,000 to apply for the card.
Sign-up bonus and earn rate:
- Get 30,000 Avios when you spend £6,000 within 90 days
- Earn 1.5 Avios per £1 spent
- Earn 3 Avios per £1 spent with British Airways and BA Holidays
Other information:
- Receive a companion voucher, letting you book two flights for the Avios of one, when you spend £15,000 in a card year
- A solo traveller can use it for a 50% discount on the Avios for one ticket
- The voucher is valid in any cabin
- It can be used on British Airways, Iberia and Aer Lingus
- Annual fee: £300
Representative 138.5% APR variable based on an assumed £1,200 credit limit and £300 annual fee. Interest rate on purchases 30.4% APR variable.
You will receive 30,000 Avios as a sign-up bonus on the British Airways American Express Premium Plus card if you spend £6,000 within 90 days of signing up.
To qualify for the bonus, you must not have held the British Airways Premium Plus or the free British Airways American Express cards in the previous 24 months.
You are OK if you had a supplementary card on someone else’s British Airways American Express account.
You are OK if, currently or in the previous 24 months, you have held any other American Express card.
For clarity, you can still apply for the British Airways Premium Plus card even if you do not qualify for the bonus. You would still benefit from the companion voucher and all of the other card benefits.
When you spend £15,000 on the British Airways American Express Premium Plus card, you receive a companion voucher entitling you to book two Avios redemption flights for the miles of one.
Alternatively, a solo traveller can use the voucher for a 50% reduction on the Avios required for one ticket.
This voucher is valid for two years. Full taxes and charges need to be paid on both tickets.
This voucher is the most valuable perk available in the UK airline and hotel credit card sector in my view. It could save you 150,000 or more Avios when used for a long-haul redemption in a premium cabin.
The voucher with the Premium Plus card is far more powerful than the voucher given with the free British Airways American Express card. You need to spend the same £15,000 to receive it. More importantly, the Premium Plus voucher is valid for two years and is valid in ALL cabins. The voucher on the free British Airways American Express card is only valid for one year and can only be used for Economy flights.
You receive your voucher within a few days of reaching the spending target. You need to fly the outbound leg of your 2-4-1 flight before the expiry date of the voucher.
The voucher can be used for flights on British Airways, Iberia and Aer Lingus.
You need a minimum personal income of £35,000 to apply for the card.
Sign-up bonus and earn rate:
- Get 20,000 Marriott Bonvoy points when you spend £3,000 within 90 days
- Earn 2 Marriott Bonvoy points per £1 spent
- Earn 6 points per £1 spent at Marriott hotels
- Points convert at 3:1 into Avios or other airline miles
Other information:
- 15 elite night credits per year to help you towards higher status
- Free night, up to 25,000 points, when you spend £25,000 per year.
- Upgrade to Gold Elite status when you spend £15,000 in a card year
- Annual fee: £95
Representative 54.1% APR variable based on an assumed £1,200 credit limit and £95 annual fee. Interest rate on purchases 30.4% APR variable.
You will receive 20,000 points as a sign-up bonus on the Marriott Bonvoy American Express card if you spend £3,000 within 90 days of signing up.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.
You are OK if you had a supplementary card on someone else’s American Express account.
You are OK if, currently or in the previous 24 months, you have held a Business American Express card.
For clarity, you can still apply for the Marriott Bonvoy American Express card even if you do not qualify for the bonus. You would still benefit from the 15 elite night credits per year, the free night (up to 25,000 points) for spending £25,000 and Gold Elite status for spending £15,000.
You will receive 15 elite night credits per year in Marriott Bonvoy. The first batch will arrive within 60 days on applying and then in Spring in each subsequent year.
15 elite nights will automatically get you Silver Elite status in Marriott Bonvoy and put you nearer to Gold Elite and higher tiers.
If you spend £15,000 per card year, you will be upgraded to Gold Elite status in Marriott Bonvoy.
If you spend £25,000 per card year, you will receive a free night voucher, valid at any hotel where reward nights cost up to 25,000 points.
You need a minimum personal income of £20,000 to apply for the card.
Sign-up bonus and earn rate:
- Get 20,000 Nectar points when you spend £2,000 within 90 days
- Earn 2 Nectar points per £1 spent
- Points transfer at 400 : 250 into Avios
- Points are worth 0.5p each when spent at Sainsbury’s, Argos etc
Other information:
- You can convert Nectar points into Avios, and vice versa
- Annual fee: Free for the first year, £30 from Year 2
Representative 37.1% APR variable. Annual fee applies after the first year.
You will receive 20,000 Nectar points as a sign-up bonus on the Nectar American Express credit card if you spend £2,000 within 90 days of signing up.
Nectar points are worth 0.5p each if spent in Sainsbury’s, Argos etc. They can also be converted to Avios at the rate of 400 : 250. 1 Nectar point gets you 0.625 Avios.
To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.
You are OK if you had a supplementary card on someone else’s American Express account.
You are OK if, currently or in the previous 24 months, you have held a Business American Express card.
For clarity, you can still apply for the Nectar American Express card even if you do not qualify for the bonus. You would still benefit from the ‘no fee in Year 1’ offer.
The Nectar American Express credit card comes lets you earn 2 Nectar points for every £1 you spend. This is on top of any Nectar points you would usually earn at Sainsbury’s and other Nectar partners.
Converted to Avios, you would be earning 1.25 Avios per £1. This makes the card better value than the free British Airways American Express credit card for your first year, as the Nectar American Express is ‘fee free’ for the first 12 months. There is a £30 annual fee from Year 2.
The sign-up bonus of 20,000 Nectar points is worth £100 to spend in Sainsbury’s, Argos etc.
20,000 Nectar points can also be converted into 12,500 Avios.
You need a minimum personal income of £20,000 to apply for the card.
Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points. The site discusses products offered by lenders but is not a lender itself. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as an independent credit broker.
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