Is the Amex Gold Card Worth It for UK Families? (Honest Review)
Let's cut through the hype. The American Express Preferred Rewards Gold Credit Card (yes, that's the full name... we just call it the Amex Gold) is one of the most talked-about cards in the UK points world.
But is it actually worth it for families? Or is it just another shiny card that looks good on Instagram but doesn't deliver in real life?
I'm going to break down the math for you. No fluff, no BS. Just my honest truth about whether this card makes sense for your family.
The Basics: What You Get
Here's what the Amex Gold offers:
First Year:
No annual fee (this is huge)
Welcome bonus: Currently 55,000 Membership Rewards points (using my referral link until 13 January)
4 Priority Pass lounge visits per year (typically worth £20–£40+ per visit if you paid for lounge access separately, depending on the airport).
£120 Deliveroo credit (£10 per month)
Earning rate:
– 1 point per £1 on everyday spending
– 2 points per £1 on airline bookings and foreign currency spend
– 3 points per £1 when booking travel through American Express Travel
From Year Two Onwards:
£195 annual fee
Same earning rates and lounge access
Keep the Deliveroo credit
The big question is: does this actually save you money, or are you just paying £195 for a card you could live without?
Let's Do the Math (For Real Families)
I'm going to show you three scenarios: a family that travels once a year, a family that travels 2-3 times a year, and a family that doesn't travel much at all.
Scenario 1: You Travel Once a Year
Let's say you're a family of four who takes one big holiday a year... maybe a week in Spain or Portugal. Here's what the Amex Gold could do for you:
Year 1 (No Annual Fee):
Welcome bonus: 55,000 points (often worth £550+ in flights, depending on how you redeem them)
4 lounge passes: Included (lounge access often costs £20–£40+ per person if paid separately)
Deliveroo credit: £120
Points from spending: Let's say you spend £1,500/month on the card = 18,000 points per year
Total value: £930+ in the first year, with no annual fee.
That's a no-brainer. Even if you only use the card for your normal spending and never step foot in an airport lounge, you're still coming out ahead.
Year 2 (£195 Annual Fee):
Annual fee: -£195
4 lounge passes: £80–£160+ in potential value (depending on airport and lounge)
Deliveroo credit: £120
Points from spending: 18,000 points (worth £180+ in flights)
Total value: £380+, minus the £195 fee = £185+ profit.
So yes, even in Year 2, you're still getting value. But it's close. If you're not using the lounge passes or the Deliveroo credit, it might not be worth keeping.
Scenario 2: You Travel 2-3 Times a Year
Now let's say you're a more frequent traveler. Maybe you do a couple of weekend trips to Europe plus one longer holiday. Here's what that looks like:
Year 1:
Welcome bonus: Currently 55,000 Membership Rewards points often worth £550+ in flights (using my referral link until 13 January 2026)
4 lounge passes: You'll probably use all of them (£80–£160+ in potential value)
Deliveroo credit: £120
Points from spending: £2,000/month = 24,000 points per year
Total value: £990+ in the first year, no annual fee.
Year 2:
Annual fee: -£195
4 lounge passes: £80–£160+ in potential value (and you'll use them)
Deliveroo credit: £120
Points from spending: 24,000 points (worth £240+ in flights)
Total value: £440+, minus the £195 fee = £245+ profit.
In this scenario, the card is absolutely worth keeping. You're getting way more value than the annual fee, and if you're traveling multiple times a year, those lounge passes alone make it worthwhile (especially if you have kids).
Scenario 3: You Don't Travel Much
Okay, what if you're not really a traveler? Maybe you take one trip every couple of years, and you're just interested in earning points for the future.
Year 1:
Welcome bonus: Currently 55,000 Membership Rewards points often worth £550+ in flights (using my referral link until 13 January 2026)
4 lounge passes: You probably won't use these
Deliveroo credit: £120
Points from spending: £1,000/month = 12,000 points per year
Total value: £790+ in the first year, no annual fee.
Still worth it in Year 1 because there's no annual fee. But should you keep it in Year 2?
Year 2:
Annual fee: -£195
4 lounge passes: Unused (£0 value to you)
Deliveroo credit: £120
Points from spending: 12,000 points (worth £120+ in flights)
Total value: £240+, minus the £195 fee = £45+ profit.
In this scenario, it's borderline. If you're using the Deliveroo credit and you don't mind paying the fee, sure, keep it. But if you're not using the perks, it's probably smarter to downgrade to a no-fee card or cancel.
The Hidden Benefits Nobody Talks About
Okay, so we've covered the obvious stuff... the points, the lounge passes, the Deliveroo credit. But there are a few hidden perks that actually make this card even better for families:
1. Purchase Protection
If you buy something with your Amex Gold and it gets damaged or stolen within 90 days, Amex will cover it (up to certain limits). This is huge for families with kids, because let's be honest, kids break things.
2. Extended Warranty
Amex automatically extends the manufacturer's warranty by up to one year on eligible purchases. So if you buy a laptop, a TV, or any other electronics, you're covered for longer.
3. Refund Protection
If you buy something and the retailer won't accept a return, Amex might refund you. This has saved me more than once when I've bought something online that didn't work out.
4. Amex Offers
This is one of my favorite perks. Amex regularly gives you bonus points or statement credits for shopping at specific retailers. For example, you might get £5 back when you spend £50 at a certain shop, or 1,000 extra points for booking a hotel.
These offers change all the time, but if you check the app before making any big purchases, you can stack up serious savings.
The Downsides (Let's Be Honest)
Okay, so I've talked about all the good stuff. But there are a few downsides to the Amex Gold that you need to know about:
1. Not Accepted Everywhere
This is the biggest complaint about Amex in general. Some smaller shops and restaurants don't accept it because Amex charges higher merchant fees than Visa or Mastercard.
My advice? Always have a backup card (like a Visa or Mastercard) in your wallet. But in my experience, most major retailers, supermarkets, and online shops accept Amex just fine.
2. Foreign Transaction Fees
If you use your Amex Gold abroad, you'll pay a 2.99% foreign transaction fee. That's not ideal.
So while you do earn 2-3 points per £1 abroad, the fee kind of cancels out the benefit. For this reason, I'd recommend using a fee-free card when you're traveling and saving your Amex Gold for UK spending.
3. The Annual Fee (From Year 2)
Look, £195 isn't nothing. And if you're not using the lounge passes or the Deliveroo credit, it might not be worth it.
That said, you can always cancel or downgrade the card before Year 2 if you decide it's not for you. There's no penalty for canceling, and you keep all the points you've earned.
Should You Get the Amex Gold? My Honest Take
Here's my honest recommendation:
Get the Amex Gold if:
You're comfortable using credit cards responsibly (paying off the balance in full every month)
You want a big welcome bonus to kickstart your points balance
You travel at least once or twice a year and would use the lounge passes
You order Deliveroo anyway (the £120 credit is basically free money)
Skip the Amex Gold if:
You're not comfortable with credit cards or you're worried about overspending
You literally never travel and don't plan to
You hate Amex because it's not accepted everywhere (fair enough)
And here's the thing: even if you decide it's not worth keeping after Year 1, you can cancel it. You'll still have earned 55,000 points (if you use my referral link until 13 January 2026), used the lounge passes, and got £120 in Deliveroo credit, all with no annual fee. That's a win.
What About Families Who Don't Want Credit Cards?
I get it. Not everyone wants a credit card, and that's totally okay. If you're in that camp, we actually have a guide called The Debit Card Strategy (£27) that shows you how to earn points without using credit cards at all.
You won't earn as many points as you would with credit cards, but you can absolutely still fly for less using shopping portals, loyalty programmes like Nectar and Clubcard, and other strategies.
The goal isn't to get you into debt... it's to help you travel more. And there are multiple ways to do that.
Final Thoughts
The Amex Gold is one of the best no-annual-fee cards in the UK (for the first year, at least). If you're even remotely interested in earning points, it's a no-brainer to get it in Year 1 and see if it works for you.
From Year 2 onwards, it depends on your lifestyle. If you're traveling regularly, using the lounge passes, and making the most of the Deliveroo credit, it's absolutely worth the £195 annual fee. If not, you can cancel or downgrade.
Either way, you're not locked into anything. And honestly, just the welcome bonus alone makes it worth considering.
Ready to apply? Use my referral link to get the highest possible welcome bonus (55,000 points instead of the standard 22,000)
Quick note:
Credit card offers, bonuses, and benefits can change at any time. The numbers and examples in this article are accurate at the time of writing, but always check the official American Express website for the latest terms before applying.
Points values are estimates based on typical flight redemptions and will vary depending on how, when, and where you use them.
This is not financial advice. Always spend responsibly and only use credit cards if you’re confident you can pay the balance in full every month.
Some links in this article may be referral links. If you choose to apply through them, I may earn a small bonus... at no extra cost to you.
