FINAL DAYS: Up to 100,000 Membership Rewards points with the Amex Gold and Platinum

The boosted welcome bonuses on the Amex Gold and Platinum run out on Tuesday 26 May, leaving you only four days to decide if this is your time to get one.

If you currently hold, or have held an Amex in the past, but are unsure which bonuses you're eligible for, then you should check out our free Amex eligibility tool to help you out.

Points Well Made is here to dish out the juicy details on miles and points, but we're not your financial advisers. Any decisions you make regarding products featured on this site are your own responsibility, and you should always consider whether a product suits your personal circumstances. While we chat about all manner of lender goodies, we're not a lender ourselves. Remember, you know you best.

What Membership Rewards actually gets you

Membership Rewards is one of the more flexible loyalty currencies in the UK. Points convert into Avios, Virgin Points, Flying Blue, Singapore KrisFlyer and a handful of other airline programmes. They also transfer to hotel programmes including Hilton Honors and Marriott Bonvoy, or you can use them as a statement credit, against Amex Travel bookings, or for shopping at the Amex Rewards site.

The airline transfers are usually where the value lands. If you want to see how far the points stretch when you turn them into Avios, our Avios calculator is the only tool that compares the Avios you need across British Airways, Iberia, Qatar Airways, Finnair, Aer Lingus, and Loganair in one search.

American Express Preferred Rewards Gold Card

• The bonus: 40,000 Membership Rewards points when you spend £5,000 in the first six months. Double the usual 20,000.

• The fee: Free in year one, £195 annually thereafter.

• Who qualifies: You can't have held a personal American Express card in the last 24 months.

• Representative APR: 85.8% variable (including fee). 29.1% variable on purchases.

The American Express Preferred Rewards Gold Card

This is often the most accessible route into American Express rewards for the cards that you pay for, especially with the first year being free. If you have been Amex-free for the last two years, it could be an easy way to earn a decent points boost. We rate it so highly that we wrote an entire review on why we think it is the best starter card for earning points.

Apply via a friend's referral link and the bonus rises to 45,000. If you don't know anyone with an Amex card and would still like a code, click here (to get to the Gold, press "View all Cards with a Referral Offer" in the top left).

What you get with Gold

• Points on all your spend - 1 MR point per £1. 2 points per £1 with airlines or in foreign currency. 3 points per £1 on Amex Travel. Plus 5,000 points at £10,000 annual spend, another 5,000 at £20,000.

• Deliveroo credit - £5 back twice a month, up to £120 a year (enrolment required, terms apply).

• Airport lounge access - Four Priority Pass visits a year, across more than 1,300 lounges.

• The Hotel Collection - Two-night minimum bookings via Amex Travel come with late checkout, a possible upgrade, and a US$100 on-property credit.

• Amex Experiences® - Presale ticket access, plus use of the Amex Lounge at The O2.

• Amex Offers - Statement-credit cashback with partner retailers.

• Plan It™ instalments - Split purchases of £100 or more into fixed monthly payments with a flat fee, still earning rewards.

The Platinum Card from American Express

• The bonus: 75,000 Membership Rewards points when you spend £10,000 in the first six months, plus a £250 American Express Travel Credit.

• The fee: £650 annually. Pro-rata refund if you cancel.

• Who qualifies: You can't have held a Membership Rewards-earning Amex card in the past 24 months. A BA, Nectar, Marriott or cashback Amex card doesn't count against you.

• Representative APR: 685.3% variable (including fee). 29.1% variable on purchases.

The American Express Platinum Card

The Platinum sits at the top of the personal Amex range. The fee is the highest of any UK Amex card, but the perks match with unlimited lounge access for two, mid-tier hotel status with three chains, annual travel and dining credits, and comprehensive worldwide insurance. We've held one on and off for a few years.

Whether the maths works depends on how often you fly, where you stay, and whether you'll actually use the credits before they expire. The 75,000-point sign-up bonus and £250 Travel Credit tilt year one in your favour, but the £650 fee returns in full each year after.

Compared to the last round (which ended 13 January), the spend target has increased from £6,000 in three months to £10,000 in six months. That is a higher total spend, but you now have twice as long to reach it, which should make it more achievable for most people.

A quick note about the Travel Credit as some people will be unfamiliar with this. The Travel Credit will only be issued to you once you hit the £10,000 spend target (the same trigger as the points bonus). You can only use the Travel Credit to pay for a pre-paid travel booking via Amex Travel. After you have booked your travel, the credit will appear as a statement credit in your account. You can only use the Travel Credit once. Full T&Cs here.

Just like the Gold card, you can also apply via a friend's referral link which will boost the bonus to an enormous 100,000 Membership Rewards points + £250 Travel Credit! If you don't know anyone who has an Amex, and would still like a referral code, then click here!

What you get with Platinum

• Points on all your spend - 1 MR point per £1. 2 points per £1 on Amex Travel.

• Worldwide lounge access - Unlimited Priority Pass entry for you and a guest at over 1,550 lounges, plus Centurion Lounges and other Amex-only spaces. We reviewed the Centurion Lounge at Heathrow Terminal 3 recently. It's one of the best at the airport.

• Hotel status - Complimentary mid-tier status with Hilton Honors, Marriott Bonvoy and Radisson Rewards.

• Fine Hotels + Resorts - Over 3,000 properties bookable via Amex Travel come with a room upgrade on arrival when available, early check-in, and a US$100 on-property credit. Hotel Collection bookings need a two-night minimum. Terms apply.

• Travel credit - £250 a year for flights booked through Amex Travel.

• Dining credits - Up to £200 a year in statement credits at select UK restaurants, plus another £200 abroad (full list here).

• Insurance - Worldwide travel cover, car hire insurance, purchase protection. Terms apply.

• Amex Experiences and The O2 lounge - Ticket presales and lounge access.

• Amex Offers - Statement-credit savings with leading brands.

Already hold one? Refer a friend

The boosted bonuses aren't only for new applicants. If you already hold a Gold or Platinum card:

• Platinum cardmembers earn 20,000 Membership Rewards points per successful referral. Your friend gets 100,000 points and the £250 Travel Credit when they hit the spend target.

• Gold cardmembers earn 14,000 points per referral. Your friend gets 45,000.

Sam

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