Important Information for Existing Preferred Rewards Gold Cardmembers

Important Information for Existing Preferred Rewards Gold Cardmembers

As an existing Preferred Rewards Gold Charge Cardmember, you do not need to take any action and you can continue to enjoy the great benefits that come with your Card. Should you wish to apply for the Credit Card version, you can do so by applying at Amex.co.uk. Applying for the American Express? Preferred Rewards Gold Credit Card is a new credit application and Terms and Conditions apply.

It is important to be aware of the similarities and differences between the two products and consider this when making a decision to apply for the Preferred Rewards Gold Credit Card in addition to the Gold Charge Card you already hold. If approved for the credit Card, please note that as an existing Gold Charge Cardmember:

? You will not be eligible for any Membership Rewards welcome bonus award.

? Your two Cards will be classified as different products, and as such, you will be liable for 2 separate Annual fee payments should you continue to hold the Preferred Rewards Gold Card as well.

? Your existing Gold charge Card will not be automatically cancelled and will still be available for you to use. If you would prefer not to have two active Cards, and pay two annual fees, then you can cancel your Gold Charge Card by contacting the number on the back of the Card. After closing your Account, you will no longer be able to use your Card and you will receive a pro-rata refund for your most recently paid membership fee.

? Unlike the Preferred Rewards Gold Card, the Preferred Rewards Gold Credit Card is regulated by the Consumer Credit Act, which provides you statutory rights.

? The benefits on your Card and the Preferred Rewards Gold Credit Card are very similar (please refer to the below table). Please note that a number of these benefits are dependent upon you using the Card for a transaction.

? Except for the Card Account number on the front of the Card, both plastic Cards look the same and you must ensure when using your Card products you are confident that you are using the expected Card. This is especially important when it comes to making payments or transactions as American Express will not be able to transfer a transaction made from one Card Account to another should the incorrect Card have been used accidentally.

? If you hold both the Charge and Credit versions of the product, they will be classified as two different products. Any spend towards the Anniversary bonus threshold will only be applicable for the specific Card you are using (for further details see the table on the next page).

This page is for your information only and you do not need to take any action.

Changes at a glance

PREFERRED REWARDS GOLD CARD

PREFERRED REWARDS GOLD CREDIT CARD

Annual Cardmembership Fee

?140 (Free in the first year)

?140 (Free in the first year)

Functionality

Charge ? This Card has no preset spending limit and no interest charges since you must pay the balance in full at the end of each month. Your spending limit, depends on your Card usage, and is based on factors including your current spending patterns, payment history, credit record, and financial resources.

Credit ? When you open a Gold Credit Card Account, you are given a credit limit which is the maximum amount you can spend. This Card also gives you the ability to purchase things now and pay for them in the future either in one go or in monthly instalments. If you don't pay off your balance in full every month then you will be charged interest until full repayment has been recieved.1

Interest Purchase Rate -

22.9% annual

Interest Cash Advances -

27.9% annual

Representative APR

-

57.6% annual

Consumer Credit

No

Act Regulated?

Yes, including Section 75. Please read product Terms and Conditions for more details.

Membership Rewards*

? 1 Membership Rewards points for every full ?1 of eligible spend on your Card

? 2 Membership Rewards points for every ?1 full spend directly with airlines

? 2 Membership Rewards points for every ?1 full spend in a foreign currency

? 3 Membership Rewards points for every ?1 full spend at American Express Travel online

? 1 Membership Rewards point for every full ?1 of eligible spend on your Card

? 2 Membership Rewards points for every ?1 full spend directly with airlines

? 2 Membership Rewards points for every ?1 full spend in a foreign currency

? 3 Membership Rewards points for every ?1 full spend at American Express Travel online

Please note that upon successful enrolment onto the new Gold Credit Card, any Membership Rewards points balance on the new Card will be automatically linked to your existing Membership Rewards Account balance.

Anniversary bonus per

10,000 Membership Rewards points when you

year of Cardmembership spend ?15,000 during a Cardmembership year.

10,000 Membership Rewards points when you spend ?15,000 during a Cardmembership year. Any anniversary bonus on the existing Gold Charge product will remain separate and will not be transferred to the new Gold Credit product. You will have a new anniversary date and be eligible for an anniversary bonus should you reach spend requirements on the new product.

Lounge Access

Lounge Club Membership with 2 complimentary lounge visits. Additional visits for Cardmembers or guests can be purchased at the prevailing rate.

New Lounge Club Membership with 2 complimentary lounge visits. Additional visits for Cardmembers or guests can be purchased at the prevailing rate.

Hotel Benefits*

Access to The Hotel Collection properties booking and benefits.

Access to The Hotel Collection properties booking and benefits.

Car Rental*

Access to enrol into the Hertz Gold Plus Rewards? loyalty programme to take advantage of special Hertz privileges.

Access to enrol into the Hertz Gold Plus Rewards? loyalty programme to take advantage of special Hertz privileges.

All other Card benefits, including American Express Invites?, Amex Offers, your built-in protection such as Purchase, Refund and insurance services are staying the same between the two products. * These benefits are only provided on the Card on which the purchase is made.

This page is for your information only and you do not need to take any action.

1. How does a Credit Card work? It's important to remember that if you don't pay off your balance in full every month then you will be charged interest until full repayment has been received. You will be charged interest at the following rate:

Purchases Cash Advances

MONTHLY RATE 1.74% 2.08%

ANNUAL RATE 22.9% 27.9%

Minimum Payments You can decide how much of your balance to pay off but we would recommend you pay off as much of your balance as possible. We will require you to make a minimum payment each month. The minimum payment due is the highest of the following amounts: (1) ?25 (or the total amount owing if less); or (2) any interest, default fees, repayment protection insurance and 1/12th of any annual fees or the full monthly fee (if applicable to the product you hold) plus 2% of the remaining balance.

This page is for your information only and you do not need to take any action.

American Express Services Europe Limited has its registered office at Belgrave House, 76 Buckingham Palace Road, London, SW1W 9AX, United Kingdom. It is registered in England and Wales with Company Number 1833139 and authorised and regulated by the Financial Conduct Authority.

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