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Editor’s note: This article is part of a weekly column to answer your credit card, points and miles and general travel questions. If you would like to ask us a question, tweet us at @thepointsguyuk, message us on Facebook or email us at ben.smithson@thepointsguy.co.uk.
The Platinum Card from American Express has just announced its biggest ever welcome bonus.
Until 25 October 2022, new and approved cardholders of The Platinum Card from American Express U.K. can earn 60,000 valuable Membership Rewards points plus a new £200 Amex Travel credit after spending £6,000 in the first six months of cardmembership. That’s double the previous welcome bonus of 30,000 points plus the travel credit is new and can be used to book flights and/or hotels through the American Express U.K. travel booking platform. It must be used in one transaction.
Based on TPG’s most recent valuation of Membership Rewards points, this increased welcome bonus would be worth a whopping £1,040 when including the new Travel Credit. Membership Rewards are extremely useful as they can be transferred to a number of different loyalty programmes including British Airways Avios, Virgin Atlantic Flying Club and Singapore Airlines Krisflyer.
With such a lucrative offer from American Express we’ve received plenty of questions about eligibility from TPG U.K. readers. This brings us to this week’s TPG reader question of the week.
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I currently have a British Airways Amex card but saw the new offer for the Platinum Card. If I upgrade from the BA card to the Platinum card can I still receive the welcome bonus? I don’t really want to keep both cards because there would be two annual fees to pay
American Express has tough rules regarding eligibility for welcome bonuses on its suite of credit cards. This was introduced in 2019 and limits the ability for cardmembers to ‘game’ the system by opening and cancelling cards in quick succession to collect multiple welcome bonuses.
Related: Understanding the American Express UK welcome bonus restrictions
Fortunately, the rules for the Platinum Card welcome bonus are more relaxed, and Lynne would be eligible for the welcome bonus even if she currently held a British Airways American Express Card. She could either keep both cards if she wished, or choose to only keep the Platinum Card to avoid paying two annual fees. If Lynne has earned a British Airways Companion Voucher that she is yet to redeem, technically she must have ‘a British Airways Amex’ open when she redeems the Companion Voucher to pay for the fees, taxes and surcharges but there have been numerous reports from TPG U.K. readers that ‘any Amex’ will work to make this payment and that it does not need to be a British Airways branded Amex.
Related: What are the differences between the Barclays Avios Rewards Upgrade Voucher and the American Express Companion Voucher?
I’d recommend Lynne call American Express to discuss the switching process so she is comfortable before making any decisions. While ideally, they could do everything on the phone I suspect she will still need to apply for the Platinum card online separately, though the BA Amex can be cancelled by phone.
If Lynne held the Preferred Rewards Gold Card from American Express and wished to upgrade to the Platinum Card she could do so, but she would not be eligible for the Platinum welcome bonus. She could still enjoy all of the other benefits of the card such as the new global dining credit, travel insurance and lounge access. She would need to cancel the Gold card and wait 24 months to apply for the Platinum card before she would be eligible for the welcome bonus from the Platinum card.
Featured image by Liam Spencer / The Points Guy
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