For customers who currently have the American Express Preferred Rewards Gold card, you can save £140 a year and get two extra airport lounge passes by simply changing your card to the Amex Gold credit card. Please note, by cancelling your current AMEX credit card you will also get a pro-rata refund from the £140 you would have paid on your current card however you will not get the bonus points which are only available to new customers.
In your first year, there is no card fee and you will get two free airport lounge passes. However, it is important to note, that there is a 22.9% rep APR interest charge which effectively means you should pay off your credit card on time. Failure to pay will lead to charges which will take away from the reward benefits.
For those concerned about not receiving the bonus points, it is interesting to note that Amex identifies new customers as individuals who have not had an Amex card in the last 6 months. So technically you can cancel your current card, wait 6 months and re-apply.