Alpian American Express Gold Card

45,000 welcome points. That's 50% more than any other Swiss Amex Gold card offers.

The Alpian American Express Gold Card offers Switzerland's most generous Amex Gold welcome bonus. Those 45,000 Membership Rewards points are worth CHF 450-900 depending on how you redeem them. The catch? You need to be an Alpian private banking client. If you qualify, this card delivers exceptional first-year value.

Is CHF 350 Worth It?

Let's do the math on the welcome bonus. 45,000 Membership Rewards points transferred to Miles & More can get you a business class upgrade worth CHF 500-1,000. Even conservative redemptions (statement credits, merchandise) yield CHF 400-450. Year one, you're ahead by CHF 50-650 after the fee.

Beyond year one, the value depends on your spending. At 1 point per CHF 1 spent, you'd need CHF 35,000 annually to earn 35,000 points (worth ~CHF 350). The 2 complimentary lounge visits add ~CHF 100 value. CHF 300 flight delay coverage and CHF 10,000 medical coverage provide some insurance value. It's borderline profitable for moderate spenders.

What Actually Stands Out

The 45,000 welcome points beat Swisscard's Amex Gold (30,000 points) by 50%. That's 15,000 extra points worth CHF 150-300 in your pocket. If you're comparing Amex Gold options, Alpian wins on welcome value.

You can pay the annual fee with points, which appeals to those who'd rather not see the cash leave their account. The Membership Rewards program offers decent transfer partners including Miles & More, British Airways Avios, and various hotel programs. Point flexibility exceeds what you'd get from locked-in programs like Surprize.

What Most Reviews Miss

This card requires Alpian private banking membership. You can't just apply online. Alpian targets wealth management clients, so minimum asset requirements apply. If you're not already an Alpian client or considering their services, this card isn't accessible to you.

Amex acceptance in Switzerland is genuinely limited. Expect 25-35% of smaller shops, restaurants, and mountain venues to decline it. You absolutely need a Visa or Mastercard backup. The 2.5% FX fee is also high; competitors charge 1.5-1.75%. On CHF 5,000 foreign spending, you'd pay CHF 50 extra versus better options.

The Bottom Line

For Alpian clients who can absorb the acceptance limitations, this card's welcome bonus delivers exceptional first-year value. Keep a Visa or Mastercard for daily use and use this strategically for points accumulation and lounge access. Compare it to alternatives in our best premium credit cards in Switzerland guide.

Verdict: The best Amex Gold welcome bonus in Switzerland, but only for Alpian clients. Worth it if you can work around Amex limitations.