British Airways American Express Premium Plus: The Ultimate UK Review of the Companion Voucher and Avios Rewards

The British Airways American Express Premium Plus card centres on one compelling promise: a Companion Voucher that could unlock two Business Class flights for the Avios of one.

But with a significant £250 annual fee, is this perk a genuine gateway to luxury travel or just clever marketing? The answer depends entirely on your spending habits and travel ambitions.

This card is not for everyone. It’s a specialist tool designed for loyal British Airways flyers who can channel significant spending through a single card. In this comprehensive review, we’ll dissect every feature, from the true value of its rewards to the critical drawbacks you must understand before applying.

By the end, you’ll have a clear picture of whether this card is the right financial co-pilot for your journeys.

The Core Benefits: Avios and the Companion Voucher

This card is built around two primary rewards: an accelerated Avios earning rate and the highly coveted Companion Voucher. Let’s break down exactly what you get for your annual fee.

The Star Attraction: The Companion Voucher

This is the single biggest reason to consider this card. When you spend £10,000 on the card within your membership year, you earn a Companion Voucher. This allows you to book a British Airways reward flight using your Avios and take someone with you in the same cabin for no extra Avios. You are still responsible for paying the taxes, fees, and carrier charges for both tickets.

The value of this voucher can be immense. Using it for a short-haul economy flight to Europe might save you a few thousand Avios. However, using it for two long-haul Business Class (Club World) seats to a destination like Tokyo or Cape Town could save you over 150,000 Avios, representing a value well over £1,500.

• Spend Target: You must spend £10,000 within one card membership year.
• Validity: The voucher is valid for 24 months from the date it’s issued, giving you ample time to plan a major trip.
• Flexibility: It can be used on any British Airways flight, in any cabin, provided there is reward seat availability.
• Departure: Your journey must originate in the UK.

A Word of Warning on ‘Free’ Flight Taxes

The biggest surprise for many new cardholders is that reward flights are not entirely free. While Avios cover the fare, the taxes and carrier surcharges can be substantial, especially for premium cabins. For a peak-time return flight to New York in Business Class, these charges can easily amount to £800 or more per person. The Companion Voucher saves you the Avios for the second ticket, but you will still pay these cash charges for both passengers.

Accelerated Avios Earning Rate

The card functions as a powerful tool for accumulating Avios on your everyday spending. The earning rates are straightforward and generous:

• 1.5 Avios for every £1 spent on virtually all your purchases, from your weekly supermarket shop to your daily coffee.
• 3 Avios for every £1 spent directly with British Airways or BA Holidays.

To put this into perspective, a monthly card spend of £2,000 would generate 3,000 Avios. Over a year, that amounts to 36,000 Avios from regular spending alone, not including the welcome bonus. That’s enough for a return flight to many European destinations, with only taxes to pay.

A Generous Welcome Bonus

New cardmembers can often earn a substantial welcome bonus. Typically, American Express offers a large sum of bonus Avios, such as 25,000, after you spend a certain amount (e.g., £3,000) in your first three months. This provides a fantastic boost to your balance, often enough for a European return flight straight away.

However, be aware of a crucial restriction: you are not eligible for the welcome bonus if you have held any personal British Airways American Express card in the past 24 months. This includes the free version of the card. Always check your history before applying solely for the bonus.

Fees, Charges, and Interest Rates

This is a premium product with costs to match. It is designed for individuals who pay their balance in full each month, as the interest rates are very high.

• Annual Fee: £250.
• Representative APR: 113.1% APR (Variable). This figure is high because it incorporates the annual fee into the calculation.
• Standard Purchase Rate: 31.0% (Variable). This is the interest you will be charged if you do not clear your balance in full.
• Foreign Transaction Fee: 2.99% of the transaction value.
• Late Payment Fee: £12.

It is essential to treat this card as a charge card, not a tool for borrowing. The interest charges will quickly negate the value of any Avios earned if you carry a balance from one month to the next.

The Reality Check: Key Drawbacks to Consider

While the benefits are compelling, the card has significant downsides that make it unsuitable for many people. Be honest about your financial habits before you commit.

The £250 Annual Fee

This is the most significant barrier. To justify this cost, you must extract more than £250 of value from the card’s rewards each year. If you fail to spend the £10,000 required to earn the Companion Voucher, it becomes almost impossible to make the numbers work. The Avios earned from spending alone are unlikely to cover the fee. The card is a £250 bet that you will earn and use the voucher effectively.

The Extremely High Interest Rate

The 31.0% purchase rate is punitive. This card is absolutely not for anyone who sometimes carries a credit card balance. The interest accrued over just a couple of months would completely wipe out the value of your rewards. The only sensible way to use this card is to set up a Direct Debit to pay the statement balance in full every month, without fail.

The 2.99% Foreign Transaction Fee

Here lies the card’s greatest contradiction: it’s a premium travel card that penalises you for spending abroad. This 2.99% fee adds almost £3 to every £100 you spend on holiday. Savvy travellers should pair this card with a dedicated fee-free travel card for use outside the UK. Use the BA Amex for all your UK spending to earn Avios, and switch to a no-fee card once you are overseas.

The £10,000 Spending Target

The Companion Voucher is not a gift; it must be earned. Channelling £10,000 of spending through the card in a year is straightforward for some, but for others, it may require careful planning and discipline. If your typical annual card spend is significantly lower, you will never unlock the card’s primary benefit, making the fee a wasted expense.

Who is Eligible to Apply?

American Express targets customers with a solid financial track record. While there is no official minimum income stated, you will need to demonstrate financial stability.

You must meet these criteria:

• Be aged 18 or over.
• Be a permanent UK resident.
• Hold a UK bank or building society account.
• Have no history of bad debt.

You should also have a good to excellent credit history. Remember to check the 24-month rule regarding the welcome bonus to avoid disappointment.

How to Apply for the BA Premium Plus Card

Secure your Companion Voucher safely by following these steps:

1. Check Eligibility: Ensure you have no bad debt history and haven’t held a personal BA Amex in 24 months for the bonus.
2. Complete Application: Apply securely via the American Express website (hard search applies).
3. Set Up Direct Debit: Automate full monthly payments immediately to avoid the high 31% purchase rate.
4. Track Spending: Monitor your progress towards the £10k target to trigger the Companion Voucher.

VISIT THE CARD SITE

Comparing the Alternatives

This card doesn’t operate in a vacuum. Here’s how it stacks up against its main competitors.

The Free British Airways American Express Card

This is the most obvious alternative. Its main advantage is that it has no annual fee. However, its benefits are diluted. You earn only 1 Avios per £1 spent, the Companion Voucher requires a higher spend of £12,000, and it is only valid for 12 months.

The free card is better for lower spenders or those who are unsure if they can maximise the Premium Plus version. For anyone who can meet the spending target and plans a long-haul trip, the Premium Plus card is mathematically superior due to the 24-month voucher validity and higher earn rate.

0% Foreign Fee Credit Cards

These cards are designed for one purpose: fee-free spending abroad. They offer no rewards like Avios or vouchers, but they save you the 2.99% fee on every overseas transaction. The ideal strategy is not to choose one over the other, but to use both. Use the BA Amex Premium Plus for your UK spending to accumulate Avios, and a dedicated 0% foreign fee card for your holiday spending.

Frequently Asked Questions

1. Is the £250 annual fee really worth it?It is only worth it if you are certain you will spend £10,000 to earn the Companion Voucher and then use it for a high-value redemption, such as a long-haul or Business Class flight, within its 24-month validity.
2. What exactly is a Companion Voucher?Think of it as a “buy one get one free” offer on reward flight seats. You pay for the first ticket with Avios, and the second person’s Avios cost is zero. Crucially, you must still pay all taxes and fees for both passengers in cash.
3. How many Avios do I need for a flight?An off-peak economy return from London can cost around 9,000 Avios to Paris, 15,000 to Lisbon, or 26,000 to Dubai, plus taxes. A welcome bonus can give you a significant head start.
4. Is American Express widely accepted in the UK?Acceptance is excellent. All major supermarkets, petrol stations, and national retailers take Amex. However, some smaller independent businesses may only accept Visa or Mastercard, so it’s always wise to carry a backup.

Final Verdict: Is This the Right Card for You?

The British Airways American Express Premium Plus is a superb card for a specific type of user and a costly mistake for another. It rewards loyalty and high spending but punishes financial indiscipline.

This card is an excellent choice if:

• You easily spend over £10,000 on a credit card each year.
• You are a loyal British Airways flyer based in the UK.
• You are committed to using the Companion Voucher for a valuable trip and can afford the associated taxes.
• You are financially disciplined and will pay your balance in full every single month.

You should avoid this card if:

• You ever carry a balance on your credit card, as the high interest will destroy your rewards.
• You spend less than £10,000 a year on a card, as you won’t earn the main benefit.
• You are looking for a primary card to use for spending abroad.
• Your travel is not focused on British Airways and its partners.