American Express® Gold Credit Card Review

If you’re a frequent traveler, foodie, or someone who values premium benefits, the American Express® Gold Credit Card might be the perfect addition to your wallet. With its impressive rewards structure, multiple travel benefits, and generous introductory bonus, this card stands out in the competitive field of premium credit cards. In this detailed review, we’ll delve into the various aspects of the American Express® Gold Credit Card to help you decide if it’s the right choice for you.

American Express® Gold Credit Card Key Takeaways

Before we dive into the nitty-gritty details, let’s look at some key takeaways of the American Express® Gold Credit Card:
– Rewards Structure: Earn 4x points on dining at restaurants worldwide, including takeout and delivery in the U.S.; 4x points on groceries at U.S. supermarkets (on up to $25,000 in purchases per year); 3x points on flights booked directly with airlines or on amextravel.com; 1x points on other eligible purchases.
– Introductory Offer: Earn 60,000 Membership Rewards® Points after spending $4,000 on purchases within the first 6 months of Card Membership.
– Annual Fee: $250 annually.
– APR: 21.24% – 29.24% Variable.
– Credit Score Requirement: Good to Excellent (670-799).
– Travel Benefits: Includes up to $120 Uber Cash annually, no foreign transaction fees, personalized travel services, Global Assist® Hotline, baggage insurance, and car rental loss and damage insurance.

American Express® Gold Credit Card Pros and Cons

Pros

High Rewards Rate for Select Categories

The American Express® Gold Credit Card offers competitive rewards rates in key spending categories. Earn 4x points on dining and groceries, and 3x points on flights, which can significantly add up if you spend a lot in these areas.

Generous Introductory Bonus

New cardholders can take advantage of an attractive introductory offer of 60,000 Membership Rewards® Points after spending $4,000 on purchases within the first 6 months. This bonus can be a significant boost to your rewards balance.

No Foreign Transaction Fees

Travelers will appreciate the lack of foreign transaction fees, making it a cost-effective option for international purchases and travel.

Uber Cash Credit

Enjoy up to $120 in Uber Cash annually, which can be used for Uber Eats orders or Uber rides in the U.S. This adds tangible value to the card for those who frequently use Uber services.

Cons

Complicated Rewards System

While the rewards rates are attractive, the system can be complicated to navigate, especially for those new to the rewards game. Understanding how to maximize points and benefits might require a learning curve.

High Annual Fee

With a $250 annual fee, the card is on the pricier side. Potential cardholders need to weigh the benefits against this cost to determine if the card’s rewards and perks justify the fee.

Limited International Acceptance

Although American Express is widely accepted in the U.S., its acceptance rate can be lower internationally compared to Visa or Mastercard. This might be a limiting factor for some overseas travelers.

High Credit Score Requirements

The card requires a good to excellent credit score, which might make it inaccessible to those with lower credit scores or limited credit history.

American Express® Gold Credit Card Benefits

Points and Rewards

4x Points on Dining

Earn 4x Membership Rewards® points on dining at restaurants worldwide. This includes takeout and delivery services in the U.S., making it an excellent option for food enthusiasts.

4x Points on Groceries

Get 4x points on groceries at U.S. supermarkets, up to $25,000 in purchases per year. After reaching this cap, the earning rate drops to 1x point per dollar.

3x Points on Flights

Earn 3x points on flights booked directly with airlines or through amextravel.com. This can be a significant advantage for frequent flyers who book travel often.

1x Points on Other Purchases

For all other eligible purchases, you earn 1x point per dollar, providing a steady stream of rewards on everyday spending.

Travel Benefits

$120 Uber Cash Annually

The card offers $120 in Uber Cash annually, credited at $10 per month. This can be used for Uber Eats orders or Uber rides in the U.S., adding value for those who frequently use these services.

No Foreign Transaction Fees

Enjoy the freedom to make purchases abroad without worrying about extra fees, thanks to the lack of foreign transaction fees.

The Hotel Collection

When you book The Hotel Collection with American Express Travel, you get a $100 onsite credit for qualifying activities like dining or spa treatments. This can enhance your stay and provide extra value.

Personalized Travel Services

American Express offers personalized travel services to help you plan and book your trips. They provide up-to-date information and can assist with booking flights, hotels, and other travel arrangements.

Global Assist® Hotline

Whenever you travel more than 100 miles from home, the Global Assist® Hotline is available 24/7 for medical, legal, financial, and other select emergency assistance. Note that cardholders are responsible for costs charged by third-party service providers.

Baggage Insurance Plan

Travel with peace of mind knowing you can be covered for lost, damaged, or stolen baggage when you purchase the entire fare for a common carrier vehicle ticket (e.g., plane, train, ship, or bus) with your eligible card. Coverage can be up to $1,250 for carry-on baggage and up to $500 for checked baggage.

Car Rental Loss and Damage Insurance

When you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental counter, you can be covered for damage to or theft of a rental vehicle in a covered territory.

Additional Benefits

Pay with Points

Membership Rewards® points can be used to pay for flights and prepaid hotels when booked on AmexTravel.com, providing flexibility in how you use your points.

Fraud Protection

American Express offers robust fraud protection to help safeguard your account from unauthorized transactions.

Purchase Protection

Eligible purchases are covered for up to 90 days from the date of purchase against accidental damage or theft.

Extended Warranty Protection

Extend the original manufacturer’s warranty by up to one additional year on eligible purchases made with your card.

Rate and Fee Information

Purchase APR

The card has a variable APR ranging from 21.24% to 29.24%, based on your creditworthiness.

Balance Transfers APR

Currently, balance transfers are not available with this card.

APR for Cash Advances

The APR for cash advances is 29.99% Variable.

Annual Fee

The card comes with a $250 annual fee, which is relatively high compared to other cards, but the benefits and rewards can offset this cost if used effectively.

Fees for Cash Advances

The fee for cash advances is either $10 or 5% of the amount of each cash advance, whichever is greater.

Penalty Fees

– Return Payment Fee: Up to $40.
– Late Payment Fee: Up to $40.

How to Avoid Paying Interest

Your due date is at least 25 days after the close of each billing period. You will not be charged interest on charges automatically added to a Pay Over Time balance if you pay your account total new balance on your billing statement by the due date each month.

Conclusion

The American Express® Gold Credit Card is a feature-rich card that caters to foodies, travelers, and those who appreciate premium benefits. Its high rewards rates on dining, groceries, and flights make it an attractive option for individuals who spend heavily in these categories. The introductory offer of 60,000 Membership Rewards® Points is a significant incentive, providing a substantial boost to your rewards balance right from the start.
However, the card comes with a high annual fee of $250, which means potential cardholders need to assess whether the benefits and rewards justify this cost. Additionally, the complicated rewards system and limited international acceptance might be drawbacks for some users.
Overall, if you can maximize the card’s rewards and benefits, the American Express® Gold Credit Card can offer tremendous value. Its travel perks, no foreign transaction fees, and robust protections make it a compelling choice for those who want to enjoy premium benefits and earn significant rewards on their spending. If you have a good to excellent credit score and are looking for a card that offers more than just basic rewards, the American Express® Gold Credit Card is worth considering.