Klarna has challenged American Express for the title of best rewards card in the UK. The company claims its Max membership is now cheaper than Amex Platinum and offers benefits worth twice as much annually.
What Is Klarna Membership?
Klarna offers four tiers: Everywhere, Plus, Premium, and Max. All include a Visa card for spending and a monthly fee.
Membership tiers vary in cashback, data allowances, and benefits. The Plus, Premium, and Max plans include purchase and price protection, a 30-day best-price guarantee, and global data access.
Klarna Membership Costs and Benefits
- Everywhere: £4.99/month. Includes priority phone support and no foreign exchange fees.
- Plus: £9.99/month. Offers 0.5% cashback, x2 cashback at featured stores via the app, 1GB global data, and purchase protection.
- Premium: £19.99/month. Provides 1% cashback, x3 cashback at featured stores, 2GB global data, travel insurance, and access to 14 subscription services.
- Max: £44.99/month. Includes 1.5% cashback, x4 cashback at featured stores, comprehensive travel and rental insurance, unlimited airport lounge access via LoungeKey Pass (1,900+ lounges), access to 18 services, 5GB global data, free unlimited 5G data, 20GB global roaming, and a 70% refund on cancelled trips or events (24+ hours in advance).
Klarna estimates annual value: £1,200 for Plus, £3,600 for Premium, and over £6,000 for Max.
What Are American Express Rewards Cards?
Amex offers three UK cards: Rewards, Gold, and Platinum. All include travel protection, purchase and refund coverage, and 24/7 global customer support.
Key Benefits by Card
- Rewards Credit Card: 1 point per £1 spent; 10,000 bonus points after £2,000 in first three months.
- Gold Card: 1 point per £1 spent; 2x points on airline or foreign currency purchases; 3x points at Amex Travel; 30,000 bonus points after £3,000 in first three months; airport lounge access; hotel upgrades; car rental cover.
- Platinum Card: 1x point per £1 spent; 2x points at amextravel.co.uk; 75,000 bonus points after £6,000 in first three months; premium lounge access; premium travel cover; hotel upgrades; travel accident cover; £200 dining credit (UK and overseas); event invites.
All cards offer travel accident protection and fraud protection. The Platinum card has a £650 annual fee.
Which Is Better: Klarna or Amex?
Cost is a key factor. The Amex Rewards card is free. Klarna’s cheapest plan costs £4.99 per month.
For frequent travelers, the Amex Platinum card offers a £200 overseas dining credit — a significant benefit.
For users who travel often or use international services, Klarna Max provides unmatched access: unlimited lounge access, global data, and trip cancellation refunds.
However, many of the benefits overlap. Both offer travel insurance, purchase protection, and lounge access. The value difference hinges on cost and usage patterns.
Why This Matters
Choosing a rewards card affects how you spend money. A card with high fees may not justify its benefits if used infrequently.
Users should consider whether they spend regularly, travel often, or use international services. The best card depends on individual habits.
Limitations and Open Questions
Most benefits are tied to spending through the card. To maximize rewards, users must funnel all spending through the card.
Subscription services (e.g., streaming or apps) are only partially valuable. The value of these services is subjective and varies by user.
There is no direct comparison of total annual value between Klarna Max and Amex Platinum. Klarna’s claims are based on internal estimates.
What to Watch Next
As Klarna expands its global offerings, its rewards structure may evolve. Amex may introduce new features or lower fees to remain competitive.
Consumers should evaluate their own spending habits before choosing a card. A simple, fee-free cashback card may still offer better value for some.
For a detailed comparison of cashback and reward options, see Klarna vs Amex: who offers the best rewards now?.
Explore more on the best cashback or reward cards in our Be Clever With Your Cash guide.
For savings and budgeting tips, visit our Savings and Budgeting Tips section.
Sources & further reading
AI-generated illustration.
