15,000 Amex points for upgrading your Gold to Platinum – worth it?

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American Express has sent an offer to some Preferred Rewards Gold cardholders offering them 15,000 Membership Rewards points if they upgrade to American Express Platinum.

Even if you did not receive this offer, it still seems that you can still take part – you are directed to this generic Amex website which appears open to any Amex Gold customer.

Is this a good deal?

Ordinarily, I would say ‘No’. If you are interested in the Platinum card and already have an Amex Gold, the most effective thing to do would be to cancel your Gold card, wait 6 months and then make a fresh application for Platinum.

Because of the 6 month gap, you will qualify for the full sign-up bonus, which is currently 30,000 Membership Rewards points. This is obviously better than just 15,000 points.

However …..

At the moment, there is a good reason to consider Amex’s 15,000 point offer.

As I wrote here, the Cathay Pacific Gold card will cease to be an Amex Platinum benefit from 15th February. As this card gives you almost all of the benefits of a British Airways Executive Club Silver card, including British Airways lounge access, it is well worth having.

If you currently have an Amex Gold, cancelling and waiting 6 months to apply for Platinum will be too late – the Cathay deal will have disappeared.

If you are an Amex Gold cardholder and are interested getting a Cathay Pacific Gold, this is a pretty good offer.

Remember that, whilst Platinum has a £450 annual fee, it is refunded pro-rata when you cancel. You only need to spend £1,000 to trigger the 15,000 bonus points for upgrading, and you can order your Cathay card as soon as your Amex Platinum arrives.

If you found that the Platinum benefits didn’t work for you after 2-3 months, you could cancel for a fee refund – you would only be £75 – £110 out of pocket. You would still have the extra 15,000 Membership Rewards points and the Cathay Pacific Gold card would remain valid for the full year.

The upgrade link is here if you are interested. The Comments below suggest that your existing Gold card is immediately upgraded, so you will not have a separate Gold and Platinum card going forward.

The general American Express Platinum website, with more details on the card, is here.

Want to earn more points from credit cards? – December 2021 update

If you are looking to apply for a new credit or charge card, here are our November 2021 recommendations based on the current sign-up bonus.

You can see our full directory of all UK cards which earn airline or hotel points here. Here are the top current deals:

British Airways BA Amex American Express card

British Airways American Express

5,000 Avios for signing up, no annual fee and an Economy 2-4-1 voucher for spending ….. Read our full review

British Airways BA Premium Plus American Express Amex credit card

British Airways American Express Premium Plus

25,000 Avios and the UK’s most valuable credit card perk – the 2-4-1 companion voucher Read our full review

American Express Preferred Rewards Gold

Your best beginner’s card – 20,000 points, FREE for a year & two airport lounge passes Read our full review

The Platinum Card from American Express

30,000 points and an unbeatable set of travel benefits – for a fee Read our full review

Earning miles and points from small business cards

If you are a sole trader or run a small company, you may also want to check out these offers.

American Express Business Gold

20,000 points sign-up bonus and free for a year Read our full review

American Express Business Platinum

40,000 points sign-up bonus and a long list of travel benefits Read our full review

British Airways Accelerating Business American Express

30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review

Capital On Tap Business Rewards Visa

The most generous Avios Visa or Mastercard for a limited company Read our full review

For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending: