American Express customers who opened a credit card shortly before coronavirus pandemic given extra time to rack up spend for bonus points
- Amex often give a points bonus if you spend a certain sum in three months
- These can be Amex points, British Airways air miles or Nectar points
- It has doubled the time limit on these offers to six months
- Nine personal credit cards are eligible for the extension
- Here’s how to help people impacted by Covid-19
Newcomers to American Express have been handed more time to rack up points bonuses for their credit card spending, with the card provider doubling the length of some of its welcome offers.
Those who signed up to Amex cards after 30 January 2020, including those who apply from today, will have six months to meet reward spending thresholds that could net them thousands of points, rather than the usual three.
The announcement is particularly good news for those who recently signed up to Amex’s £140 a year Preferred Rewards Gold card, with Amex having recently doubled the reward for spending £3,000 to 20,000 reward points.
Now those who signed up to it since that offer – available until 29 June 2020 – was introduced, have an extra three months to meet the spending threshold and earn the points.
In total, nine American Express personal credit cards have had their introductory bonus terms extended from three to six months, including its two Avios-earning British Airways credit cards.
However, given people are unable to put those Avios air miles towards any flights at the moment, newcomers might be better off sticking to Amex’s own cards.
While Amex points can be turned into Avios miles at a 1:1 ratio, they can also be used for hotel bookings through Amex and turned into gift cards for the likes of Amazon, Costco and Marks & Spencer.
20,000 Avios points, what you get from spending £3,000 on the gold card, would net you £100 gift cards at Amazon, Costco, Currys PC World or M&S.
The Amex gold card comes with a £140 fee and a 57.6 per cent APR, but it is free for the first year, meaning you can earn the 20,000-point bonus, and one point for every £1 you spend, and then cancel it after the first year.
| Credit card | Spending threshold | Reward |
|---|---|---|
| The Platinum Card | £4,000 | 30,000 Amex points |
| Preferred Rewards Gold Credit Card | £3,000 | 20,000 Amex points |
| Platinum Cashback Everyday Credit Card | 5% cashback (up to £100) | |
| Platinum Cashback Credit Card | 5% cashback (up to £125) | |
| British Airways American Express Premium Plus Card | £3,000 | 25,000 Avios points |
| British Airways American Express Credit Card | £1,000 | 5,000 Avios points |
| Nectar Credit Card | £2,000 | 20,000 Nectar points |
| Marriott Bonvoy American Express Card | £3,000 | 20,000 Amex points |
| American Express Rewards Credit Card | £2,000 | 5,000 Amex points |
In a boost for those after cashback, some of the best cashback offers around, offered by Amex, have had those introductory offers extended too.
Amex’s Platinum Cashback and Platinum Cashback Everyday cards offer 5 per cent cashback for the first three months, which has now been extended to six months.
However, the amount you can earn is still capped at £125 and £100, respectively.
The Platinum Cashback card comes with a £25 annual fee and an APR of 27.3 per cent, while the Everyday card is fee-free and comes with an APR of 22.2 per cent.
After the first six months the cashback you earn drops.
In the case of the Platinum Cashback card, you earn 1 per cent cashback on purchases of up to £10,000 and 1.25 per cent above that.
For the Platinum Cashback Everyday card you will earn 0.5 per cent on spending up to £5,000 and 1 per cent above that.
The nine cards having their terms extended are the BA Amex and Amex Premium Plus cards, the two cashback cards, the Amex gold card, the £575-a-year Platinum charge card, the free Amex reward credit card, and the Nectar and Mariott Bonvoy credit cards.