Premium Credit Cards with $500+ Sign-Up Bonuses 2026

Premium credit cards in the UK with £500+‑equivalent sign‑up bonuses in 2026 mostly sit in the travel‑rewards space, led by high‑end American Express and a handful of elite bank cards that shower you with points, credits, and perks if you can hit chunky spend targets. Used the right way, these cards can easily offset their steep annual fees, but they’re absolutely not “starter” products and work best for people who already pay off their cards in full every month.

What counts as a “premium” £500+ bonus?

When talking about premium credit cards here, think about products that:

Come with a high annual fee (often around £195–£650).
Offer a big welcome bonus that can be worth £500 or more in travel, cashback, or perks when valued sensibly.
Include extras like lounge access, hotel status, insurance, or statement credits.

In the UK, card issuers rarely hand you £500 in straight cash; instead, they give you:

A huge pile of reward points (like Membership Rewards or Avios) that convert into flights, hotels, or gift cards.
Statement credits, especially on travel or dining, that you can use like a partial refund on your spending.

If you’re willing to learn how these rewards convert to real money, you can squeeze serious value out of a single welcome offer.

Stand‑out premium cards with huge bonuses in 2026

Here are some of the most talked‑about UK cards where the welcome offer can realistically cross that £500‑equivalent mark if you use it well. Values are rough, based on common point valuations (often about 1p per point for travel).

1. The Platinum Card from American Express (personal)

This is the big beast of UK rewards cards. The annual fee looks scary, but the welcome package in 2025–2026 is unusually rich.

Key highlights:

Enhanced welcome bonus of around 75,000–85,000 Membership Rewards points if you hit a spend target of roughly £6,000 in the first three months (exact figures depend on the promo when you apply).
On top of that, a travel credit of around £250 plus substantial dining credits (for example, up to about £400 per year split between UK and international restaurants in some offers).

Even if you value points at a cautious 1p each, 75,000–85,000 points alone are worth roughly £750–£850 in travel, before adding the travel credit and dining perks. In other words, the total “welcome season” value can comfortably exceed £1,000 if you actually use the benefits.

Of course, you have to factor in the chunky annual fee of around £650, but American Express has historically allowed pro‑rata fee refunds if you cancel, which softens the blow for people who only want the card for part of the year.

2. American Express Preferred Rewards Gold (personal)

Gold is technically a mid‑tier card, but with limited‑time boosted bonuses and a free first year, it can behave like a “stealth premium” product for beginners in the points world.

What makes it interesting:

Enhanced welcome bonuses of roughly 40,000–45,000 Membership Rewards points when you spend about £5,000 in the first six months, depending on the offer.
First‑year annual fee often waived (normally around £195), plus extras like Deliveroo or dining credits and a small bundle of airport lounge visits.

If you value points at 1p each, the welcome bonus alone sits around £400–£450 in travel value. When you layer on lounge entries and any ongoing promos, crossing the “£500 of overall first‑year value” line is very realistic—especially if you’re new to Amex and can still get the full welcome.

3. HSBC Premier World Elite Mastercard

This card is more niche because HSBC Premier has strict eligibility rules, including minimum income or asset requirements, but for the right person it can be very powerful.

Headline features:

Welcome bonus of about 40,000 HSBC reward points when you spend roughly £2,000 in the first three months.
Those 40,000 points convert into around 20,000 airline miles in programmes such as Avios or other partners.

Using a typical 1p per airline mile valuation, that chunk of miles is roughly £200 of travel value on its own. The card’s long‑term earn rate and ongoing perks (such as boosted earn on foreign currency) help push total first‑year value higher, but on pure sign‑up maths alone it usually doesn’t quite hit £500.

However, frequent travellers who redeem miles smartly especially in premium cabins might squeeze significantly more value than those headline numbers suggest.

4. High‑value airline and travel partner cards

On top of the big three above, a few premium co‑branded cards can occasionally run elevated offers that push them into the £500+ territory when you redeem aggressively.

These might include:

Premium airline cards like British Airways American Express Premium Plus when they run boosted Avios welcome deals, combined with companion vouchers that unlock 2‑for‑1 flights in premium cabins.
Travel‑partner credit products linked to hotel groups where large one‑off point packages on launch or promo can fund expensive nights at high‑end properties.

These cards often appeal to people who already have a travel habit: city‑break fans, frequent work travellers, or families planning one big holiday a year and willing to think a bit strategically about their bookings.

Quick comparison: big‑bonus premium cards in the UK

Below is a simple table summarising the kind of value you might expect from some of the leading premium‑style cards with potential £500+ first‑year packages when used well. All numbers are approximate and depend on current promotions and how cleverly you redeem your rewards.

Card (UK)	Typical / promo welcome bonus	Rough welcome value (points only)	Key extra credits & perks (year 1)	Approx first‑year “total” value potential*	Annual fee (headline)	Notes
The Platinum Card from American Express	Around 75,000–85,000 Membership Rewards points after about £6,000 spend in 3 months during enhanced promo	Roughly £750–£850 in travel at ~1p per point	Around £250 travel credit, roughly £400 dining credits, airport lounge access, hotel status, travel insurance	Easily £1,000+ if you use credits and points smartly, well above the £500 sign‑up threshold	Around £650 per year, with pro‑rata refund available if cancelled	Very premium card geared at heavy travellers and high spenders
Amex Preferred Rewards Gold	Roughly 40,000–45,000 Membership Rewards points on about £5,000 spend in 6 months during boosted offers	About £400–£450 travel value at 1p per point	First‑year fee often free, airport lounge passes, dining or delivery credits	Total first‑year value can nudge above £500 when you include perks	£0 in year one in many offers, then around £195	Great “starter premium” card for people new to Amex rewards
HSBC Premier World Elite Mastercard	40,000 HSBC points after about £2,000 spend in 3 months	Roughly £200 of airline miles when converted	Elevated earn rates on spending, strong ongoing travel benefits for HSBC Premier clients	First‑year value can be strong for frequent travellers, but sign‑up alone usually under £500	Annual fee plus the need to qualify for HSBC Premier	Best for existing HSBC Premier customers who travel regularly
Airline / hotel premium cards (e.g. BA Amex Premium Plus, major hotel partners)	Often 20,000–30,000+ airline or hotel points with minimum spend; sometimes higher in promos	£200–£300+ on a simple 1p per point basis; more with smart redemptions	Companion tickets, free nights, or elite‑style perks that can stack value	Can cross £500 when you maximise vouchers and premium redemptions	Annual fees typically in the £160–£300+ range	Suits travellers who fly or stay with the same brand often

*“Total value” is a ballpark combining welcome bonus, credits, and realistic use of perks; your actual value may be higher or lower depending on your lifestyle and redemption choices.

How to decide if a £500+ bonus card is right for you

It’s tempting to chase the biggest bonus and call it a day, but premium cards can bite if you’re not careful. Here’s how to think about them in normal, real‑world terms.

1. Be honest about your spending

You only unlock those huge sign‑up packages if you actually hit the minimum spend. That usually means:

Around £5,000–£6,000 of spending in a few months on Amex Platinum or Gold.
A lower but still meaningful £2,000 on something like HSBC Premier World Elite.

That spend should be money you’d spend anyway groceries, bills, travel, insurance not random shopping just to chase points. If hitting the threshold would tempt you to overspend, the card isn’t really a “bonus”; it’s just a different kind of bill waiting to happen.

2. Check where you actually travel

A huge travel bonus only makes sense if you travel enough to use it. Ask yourself:

Do you fly at least once or twice a year, ideally with airlines that accept Membership Rewards, Avios, or similar miles?
Would you actually use airport lounges, hotel status and travel insurance, or would those benefits just sit there unused?

If you’re a regular city‑break or family‑holiday person, a chunky pile of points can be worth far more than a simple £100 cashback offer from a basic card.

3. Understand annual fees and refunds

Premium cards aren’t shy about their fees. The trick is to calculate:

How much you get from the welcome bonus and credits in the first year.
How much of the annual fee you really end up paying if you cancel early (for example, if pro‑rata refunds are available).

If your first‑year value is, say, £900 and you only pay six months of a £650 fee before cancelling, the maths can look very appealing. But in later years, once the welcome bonus is gone, the equation changes often dramatically.

4. Protect your credit score

Even the fanciest card is pointless if it damages your credit file. Sensible habits matter more than any sign‑up bonus:

Always pay at least the full statement balance every month to avoid interest and late fees.
Avoid applying for too many cards in a short time, especially if you’re planning a big loan or mortgage soon.
Keep track of renewal dates so you’re not accidentally paying another year of fees for a card you don’t really use anymore.

Treat these cards as tools to make your existing spending more rewarding, not as a licence to spend more than you can afford.

Making a personal game plan for 2026

If you’re looking at premium credit cards with £500+‑equivalent sign‑up bonuses in the UK for 2026, the smartest move is to think in terms of a simple one‑year plan instead of collecting random cards.

A straightforward approach could look like this:

Start with a “starter premium” such as Amex Preferred Rewards Gold during a boosted welcome window, using your normal spending to clear the minimum spend and test how comfortable you are with points‑based rewards.
If your income, credit score, and lifestyle justify it and you’ve enjoyed the game consider stepping up to The Platinum Card for a single high‑value year, making sure you have big travel or lifestyle spending planned to maximise lounge access, hotel status, and credits.
If you are already a HSBC Premier customer or loyal to a particular airline or hotel chain, layer in one specialist premium card where you know you can use the miles, vouchers, or free nights without over‑complicating things.

Do that, and “premium credit card strategy” stops being a confusing mess of points and fees and turns into something simple: a deliberate way of turning the spending you were already going to do in 2026 into cheaper flights, nicer hotels, and a bit of everyday luxury without wrecking your budget in the process.