Which Amex should I get?

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gold_card_largeUpdated for September 2014

At the moment, I recommend you get a Preferred Rewards Gold Card: whilst it has an annual fee, you get the first year free. Plus, if you sign up through Top Cashback, you’ll get £10.50 cashback, and if you spend £2,000 in the first three months, you’ll get 20,000 Membership Rewards points, worth £100 in Amazon vouchers (other retailers, frequent flyer and hotel schemes are also available). You’ll also get two airport lounge passes, useful if you’re travelling and want somewhere to relax with complementary drinks and snacks before your flight.

That’s a total of £110 worth of free stuff (plus the 2 Lounge Passes)!

You should put something in your diary to cancel the account after one year to avoid getting charged the £125 annual fee, and I don’t recommend you use this card after you reach the £2,000 threshold: the cashback is equivalent to 0.5% (if you convert the Membership Rewards points into Amazon vouchers – it might be more if you convert them into airline miles), and there are a few other cards on the market that can beat this cashback.

Please note that I earn a £7.50 commission if you are a new Top Cashback user and click through the link above, at no additional cost to you.

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