Advanced Avios: 60,000 Amex points with the Amex International $/€ Card

A few people have emailed me about this offer in the last month or so.  I have not written about it before because this is a very complex process which should not be entered into lightly, but as it does seem to be coming onto the radar of more and more people I have decided to cover it. 

Do not apply for this card unless you are 100% sure what you are doing and what it entails.

American Express issues two cards for UK residents (and indeed other EEA residents, but the cards are run from Brighton) who would prefer to bank in US$ or Euros.

These cards are known as International Currency Cards with the individual cards known as the International Dollar Card (IDC) and International Euro Card (IEC)

They are available in Green, Gold and Platinum versions

There is no sign-up bonus for the Gold or Green card.  However, the Platinum card currently offers a sign-up bonus of 60,000 Membership Rewards points.   Full details can be found here.

Instead of telling you why you should apply for this card, let me tell you why you should NOT:

60,000 Membership Rewards points does NOT get you 60,000 Avios.  The International Currency Cards have their own separate Membership Rewards programme.  The conversion rate to Avios is 3:2 so your 60,000 point bonus is only worth 40,000 Avios or Virgin miles.

American Express will insist on a written reference from your bank before it will give you a card.  If you have been an Amex client for a decade or so it appears, anecdotally, that they do not take up the reference.  They do for everyone else.

You will need to provide CERTIFIED copies of your passport and utility bills

The application process takes 2-3 months to complete based on reports, primarily due to the bank references

You must pay your card bill in $ or €.  This can only be done by making a foreign currency bank transfer to an overseas bank account.  You cannot pay your bill by direct debit or by a £ bank transfer.

You must have a personal income of €65,000 / $65,000 or equivalent

There is an annual fee of €550 / $550

All sounds less attractive now, doesn’t it?  (Note that I have have a Green $ card, so I know what I’m talking about.)

There are some positive reasons to get one:

If you spend a lot of money in $ or € you will avoid the FX fee on using a £ credit card

Some Membership Rewards partners transfer 1:1 out of the IDC / IEC scheme – see this HfP article from last year.  There are also partners such as Malaysia Airlines and Jumeirah hotels which are not in the UK MR scheme.

You can transfer your UK Membership Rewards balance to your new IDC or IEC Membership Rewards account.  Your balance will be increased by the current exchange rate, so your balance is boosted by 65%-70% if you have an IDC account.  Of course, this is almost entirely offset by the poorer transfer rates.

You get free travel insurance with the card which is better than the UK Platinum Card coverage (the maximum age limit is 80 years, for example)

You get the same Priority Pass, Starwood, Club Carlson and Accor status benefits as you would get with the UK Platinum Card

Despite the Amex disclaimer to the contrary, as the Membership Rewards scheme for IDC and IEC cards is totally separate to the UK scheme, you should still receive the bonus even if you already hold a UK Gold or Platinum card

I hope this makes the pros and cons of the card a lot clearer for anyone who sees any Amex advertising for the product.  Whilst the sign-up bonus may initially seem very attractive, I genuinely do not think that it is worth getting the card unless you are very financially sophisticated as it may end up being more trouble than it is worth.

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 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 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:

Barclaycard Select Cashback Credit Card

1% cashback and no annual fee Read our full review