Amex British Airways Premium

The Amex British Airways Premium card is one of the most expensive cards on the market at the moment.  They are advertising a typical rate on purchases at 43.5 percent annual percentage for card purchases.  They are also advertising a purchase rate of 17.9 percent.  The 43.5 percent is a little hazy in where it comes from, if it is supposed to be a typical APR.  Apparently this is the rate you could be charged depending on your credit scores and history for all aspects of the card.

The Amex British Airways Premium card has an annual fee for the credit card.  This fee is 150 pounds.  In order to get the benefits of the Premium card you must pay to have the card.  As reviews goes this is a pretty steep fee.  Other cards charge 50 pounds for their annual fee.

With the British Airways Premium card you are being offered 1.5 miles per every pound you spend.  The miles are only good on the British Airways flights.  You can earn double the points, as in 3 points, for purchasing British Airways flights or Holidays.  If you spend 10,000 pounds on your card in a year, you will earn a second companion ticket for the same flight.  You can also get free additional cards for family members, as well as have travel accident benefits of up to 250,000 pounds.

Your minimum payment on this card is 2.5 percent or 5 pounds of balance, it will depend on which is more.  The fee allocations are normal for this Amex British Airways Premium card.  In other words the interest is paid off first, with the cash withdrawals being paid off last.  This is a typical payment schedule and worth noting.  The minimum credit limit on this card is 1200 pounds.

Currently when you obtain this card there are no introductory rates on purchases or balance transfers.  This means that you don’t get to earn miles for transferring a balance and you don’t get a lower rate for the purchases or balance transfers.  Cash withdrawals are very expensive on this card; however they are in line with most other credit cards.  You will be charged 27.9 percent interest for withdrawing cash.

If you pay off your balance in full and on time every month you get a break on the interest for 57 days.  On the whole, when reviewing this card, there are some very expensive propositions for having this card.  The 150 pound fee is not usually worth the expense unless you will spend more than 10,000 pounds on the card in a year to get that companion seat.  By doing the math you could have a flight paid for in full before you could earn one flight or both flights on your card.

It would be in your best interest to also find out what they mean by the 43.5 percent interest.  It seems that this is a total of all the interest rates and the fee you are being charged on the card during the year.

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