Review: American Express Gold Card

The American Express Gold Card is a fantastic charge card for lovers of food and travel. Formerly known as the Premier Rewards Gold Card, this card was revamped in 2018 to much acclaim. Amex raised the card’s annual fee to $250 (NOT waived the first year), made it’s earning structure more powerful, and added some new benefits in the revamp.

Furthermore, the Gold Card is the most lucrative Membership Rewards (MR) points-earning card. That is because it has the some of American Express’ highest bonus category multipliers in two useful categories. Plus, it’s one of the best-earning mid-tier cards in the industry. This makes it a great option for those who want to earn points but not pay an annual fee over $500.

Earning

The American Express Gold Card earns 4x MR points at dining worldwide and at grocery stores stateside. But the 4x points are limited to the first $25,000 in purchases per year. Fortunately, $25,000 is a high number for those two expenses. Most American families spend much less than that per year within the categories. The Gold Card also earns 3x points on amextravel.com purchases and only one point per dollar on non-bonus spend.

Furthermore, Amex is offering a public sign-up bonus worth 60,000 MR points for the Gold Card. It can be earned after spending $4,000 within the first three months. This bonus used to be worth 35,000 MR points. But Amex raised it to 60,000 points in 2020 because of the COVID-19 pandemic.

Burning

Earning points is fantastic, but points earned are useless if they cannot be redeemed them for anything of value. Amex has multiple options for redemption:

Transfer Partners

American Express’ transfer partners are this card’s most valuable redemption option. They are the reason why points and miles enthusiasts love Membership Rewards so much. Amex transfers points at a 1 MR to 1 partner currency ratio unless otherwise noted.

Hotels

• Choice Privileges
• Hilton (1 MR = 2 Hilton Honors Points)
• Marriott

Airlines

• Aer Lingus
• Aeromexico (5 MR = 8 Premier Points)
• Air Canada
• Alitalia Millemiglia
• Asia Miles / Cathay Pacific
• Avianca Lifemiles
• British Airways
• Delta Airlines
• Emirates
• Etihad Guest
• Hawaiian Airlines
• Iberia
• JetBlue (5 MR = 4 TrueBlue Points)
• KLM Flying Blue / Air France
• Nippon Airways
• Qantas
• Singapore Airlines
• Virgin Atlantic

Your mileage may vary for each partner. But for most partners, you should be able to easily redeem your points for at least 1.5 cents per point (CPP).

Other Options

Redeeming points for paid travel is another option, but is not recommended given the lack of value. This option gives you a value of 1 CPP toward airfare, and between 0.75 and 0.85 CPP for hotels, cars, cruises, or whole vacations.

Gift cards, merchandise, and statement credits are not recommended. You will earn less than 1 CPP using these options.

Benefits

The Gold Card does not have the benefits of the Platinum Card. But Amex doesn’t leave Gold cardholders empty handed. Since the Gold Card’s revamp in 2018, Amex has added, removed, and tweaked many of its benefits.

Baggage Insurance

This benefit is a great one to have for cardholders whose luggage goes missing while traveling. Amex’s baggage insurance covers up to $500 for checked bags and $1,250 for carry-on bags.

Dining Credits

Amex Gold cardholders will receive $120 in dining credits that can be used at select restaurants each year. But the catch is that Amex gives one $10 credit each month, which makes them even harder to use. These credits are only useful for tipping when eating at the select restaurants.

Extended Warranty

Amex Gold cardholders will receive an extra year of warranty on purchases with warranties of five years or less. This is a standard benefit on most Amex cards, particularly those with annual fees.

Hotel Collection

After booking a hotel room through amextravel.com and using the Gold Card to pay for everything, cardholders will receive a $100 statement credit and a room upgrade. The room upgrade could be worth hundreds of dollars (and possibly justify the card’s annual fee).

No Foreign Exchange Fees

Amex Gold cardholders will save 2.7% on all purchases made outside the United States with the Gold Card.

Secondary Car Rental Insurance

This benefit covers the entire loss, damage, or theft of your car rental after your regular insurance’s policy kicks in.

Trip Delay Insurance

Amex’s Trip Delay Insurance can reimburse Gold cardholders up to $300 if their flight gets delayed at least six hours. One use of any of this insurance can justify the card’s annual fee. This benefit was added to the Gold Card in January 2020.

Uber Cash Credits

Starting in January 2021, Amex Gold cardholders will also have access to $120 in annual Uber Cash credits. These credits work the same way as the Gold Card’s dining credits, which makes them hard to use.

Similar Cards

American Express Everyday Preferred Card

The Everyday Preferred Card is a more conservative alternative to the Gold Card. At $95, it has a much lower annual fee and similar bonus categories.

The Everyday Preferred Card earns 3x MR points at US Grocery Stores, 2x points at US Gas Stations, and one point for non-bonus spend. You will receive a 50% points bonus if you use your card at least 30 times per month. This means you can earn 4.5x points at Grocery Stores, 3x at Gas Stations, and 1.5x on everything else with the bonus. It also means that the Everyday Preferred can potentially be a better earner at Grocery Stores for a much lower annual fee.

Furthermore, Amex is offering a public sign-up bonus worth 15,000 MR points for the Everyday Preferred Card. It can be earned after spending just $1,000 within the first three months. This bonus is meager compared to most other transferrable points earning cards with similar annual fees.

Nonetheless, the Everyday Preferred is better than the Gold Card for those who don’t want to pay a $250 annual fee. People who cannot use the Gold Card’s perks will also be better off with it. Both cards have the same redemption options and standard Amex perks. The Everyday Preferred Card is also a better option if you find the Gold Card’s credits and the Hotel Collection useless or hard to use.

American Express Green Card

Another alternative to the Gold Card is the American Express Green Card. The Green Card is better for those with more general travel expenses than grocery store expenses. Plus, it has a lower annual fee at $150 (NOT waived the first year).

The Green Card earns 3x MR points on General Travel and Dining. Fortunately, American Express includes flights, hotels, tolls, subways, ride-sharing services, taxis, and local commuter transit within the “General Travel” category. All other purchases earn just one point per dollar.

Furthermore, Amex is offering a public sign-up bonus worth 30,000 MR points for the Green Card. And there is a minimum spend requirement of $2,000, which is half of what the Gold Card requires.

The Green Card also comes with two credits as its main perks. Both are great for those who do not have any premium cards. You will receive a $100 annual Lounge Buddy Credit in lieu of lounge access. Plus, you will receive a $100 CLEAR Credit in lieu of Global Entry or Pre-TSA.

Final Draw

The American Express Gold Card is great for travelers who spend a lot on dining and groceries at home. It’s best suited for these purposes, despite not having any foreign transaction fees. However, there are many competitors out there that can be better options for travelers. Just be sure that you want to earn Membership Rewards points instead of (or in addition to) other transferrable points.

Apply Today: American Express Gold Card