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Credit & borrowingAmex Gold vs Platinum: which American Express card should UK cardholders consider?
American Express is one of the most searched-for cards in the UK, and two of its charge cards dominate the conversation: the Preferred Rewards Gold Card and The Platinum Card. They sit at very different price points and suit very different people. This guide lays out what each one offers, side by side, with the pros and cons of both — so you can judge which, if either, fits how you actually spend. It is a general comparison, not a recommendation, and we have no affiliation with American Express.
The two cards at a glance
The figures below were correct at the time of writing (July 2026). Fees, welcome offers and benefits change often, so always check the current terms on the American Express website before applying.
| Preferred Rewards Gold | The Platinum Card | |
|---|---|---|
| Annual fee | £0 in year one, then £195 | £650 |
| Rewards | Membership Rewards points — 1 per £1, up to 3 per £1 on travel booked with Amex Travel | Membership Rewards points — 1 per £1, more on Amex Travel bookings |
| Airport lounges | 4 Priority Pass visits a year | Unlimited — Priority Pass (2 cards), Amex Centurion lounges, Eurostar and more |
| Statement/dining credits | £120 Deliveroo credit a year (2 × £5 a month) | £400 dining credit a year (£200 UK + £200 international) |
| Hotel perks | Enhanced benefits via The Hotel Collection | Gold elite status with Hilton, Marriott, Accor, Melia and Radisson |
| Travel insurance | Not included as standard | Comprehensive travel insurance (subject to enrolment) |
| Best suited to | Points beginners and moderate spenders | Frequent travellers who will use the premium perks |
Preferred Rewards Gold
The Gold Card is the natural starting point. The fee is waived for the first year and then £195, which is modest for a rewards card. You earn Membership Rewards points on everyday spending — these can be transferred to a range of airline and hotel partners, which is where much of their value comes from. The headline everyday perks are four Priority Pass airport lounge visits a year and £120 of annual Deliveroo credit, split into two £5 amounts a month.
- Free for the first year, then a low £195 fee.
- Flexible, transferable Membership Rewards points on all spending.
- Enough lounge visits and Deliveroo credit to comfortably cover the fee for many people.
- A gentle, lower-cost introduction to the points-and-perks world.
- Lounge access is capped at four visits a year — light for frequent flyers.
- No comprehensive travel insurance or hotel elite status.
- Rewards only pay off if you clear the balance in full each month.
The Platinum Card
The Platinum Card is a premium travel card with a £650 annual fee, and its benefits are built around people who fly and stay in hotels regularly. The standout is unlimited airport lounge access: two Priority Pass memberships (each letting the holder bring a guest), Amex's own Centurion lounges, and Eurostar lounges. On top of that come £400 of annual dining credit, instant Gold elite status across five major hotel loyalty programmes, and comprehensive travel insurance for you and your family.
- Unlimited lounge access across several networks, including guests.
- £400 dining credit and hotel elite status that can add up quickly for regular travellers.
- Comprehensive travel insurance included.
- Larger welcome bonuses tend to be offered on this card.
- The £650 fee is substantial and only pays for itself if you genuinely use the perks.
- Many benefits require enrolment or booking through specific channels.
- Overkill for anyone who travels only occasionally.
How to decide
A useful rule of thumb: add up the value of the perks you would actually use in a year, then compare that with the fee. If you take a couple of flights a year and like the idea of lounge access and some food credit, the Gold Card's £195 (free in year one) is easy to justify. If you fly often, value hotel status, and would use the lounges and dining credit repeatedly, the Platinum's £650 can work out — but if those perks would mostly go unused, it will not.
The important caveats
Two practical points matter regardless of which card appeals. First, American Express is not accepted as widely as Visa and Mastercard in the UK, so most cardholders keep a backup card for the places that do not take Amex. Second, and most importantly, these are rewards cards, and the value only exists if you pay the balance in full every month. Interest rates on cards like these are high — the Platinum's representative APR is around 685% variable once the annual fee is factored in, with a purchase rate near 29% APR variable — so carrying a balance will wipe out any rewards many times over. If you would not clear the balance each month, a rewards card is the wrong tool. Our guide to credit card interest explains why.
This article is general information, not financial advice, and Tallyfigures is not affiliated with or endorsed by American Express. Fees, rewards and benefits were correct at the time of writing (July 2026) and change frequently — always check current terms at americanexpress.com before applying. A card that suits one person may not suit another; consider your own circumstances and, if in doubt, speak to a qualified adviser.