Rewards Credit Cards July 4, 2020 0

American Express Gold Card Review

American Express Gold Card


Hello Friends, I hope all is well with you! I am going to be reviewing the American Express Gold Credit Card today. These opinions are my own, and I am in no way influenced by anyone.

Overall Verdict: This is a premium rewards credit card. It comes with amazing benefits and protections as well as a high rewards amount in certain categories. It comes with different kinds of dining credits, airline fee credits, and much more. This card is best for the frequent travelers. However, this card offers a low reward amount for anything that is outside of the high rewards categories. It also has a hefty annual fee.

Some things about this card that I do like:

  1. Great benefits
  2. Sign-up bonus
  3. High rewards amount on certain categories

Some of the things that I don’t like:

  1. High annual fee
  2. The dining and airline credits are limited in their use
  3. Low rewards amount on all purchases outside the high reward categories

What type of reward are you getting?

The American Express Gold credit card offers you the chance to earn membership points for every dollar that you spend. The points accumulate in your account until you are ready to use them. Amex offers so many ways for you to redeem your points. You can redeem your points for merchandise, gift cards, and entertainment, and you can redeem your points for a statement credit. Additionally, you can transfer your points to one of Amex’s travel partners. These partners have their own frequent travel loyalty programs, and they allow you to use your Amex points to redeem flights or book trips with them. Furthermore, you can also use your points to book your travels through Amex’s travel website.

Is there an annual fee?

The Amex Gold Card has a hefty $250 annual fee.

What is the rewards amount?

This Amex credit card offers you the opportunity to earn 4x points at U.S supermarkets on up to $25,000 in purchases per calendar year; you will earn 1x points on purchases after the limit is reached. You can also earn 4x points at restaurants for every dollar that you spend. Additionally, you can earn 3x points for every dollar you spend on flights that are either booked directly with the airlines or booked through Amex’s travel website. Furthermore, you will earn 1x points on all other purchases. Furthermore, Amex does have some special deals that let you earn extra points for shopping or buying products from certain brands or stores.

Is there a bonus offer?

This Amex gold rewards credit card has a sign-up bonus of 50,000 membership points when you spend $2,000 or more in purchases in the first three months of the account opening. That’s about a 13% return on the money that you would have spent anyway.

Are there foreign transaction fees?

The American Express Gold credit card does not have any foreign transaction fees.

Are there any other benefits?

The American Express Gold card offers so many awesome benefit; this is not an exhaustive list but covers most of their benefits.

  1. Zero liability protection – you are not responsible for unauthorized purchases
  2. Purchase protection – this covers new purchases for 120 days against damage or theft up to $500 per claim
  3. Extended warranty protection – this extends the time period for the manufacturer’s warranty
  4. Auto rental collision damage waiver – you need to decline the rental company’s collision insurance and use your card for the rental car purchase. You are covered for theft or collision incidents on most cars in the U.S and abroad. Coverage is primary to your insurance. Chase’s rental insurance will be maxed out before you use your personal car insurance
  5. Trip delay reimbursement – you are reimbursed for expenses for expenses up to $300 per trip if your common carrier travel is delayed more than 12 hours
  6. Baggage insurance plan – you are covered for eligible stolen, lost, or damaged baggage when you use your card to pay for the ticket. Checked baggage is covered up to $500 and carry-on baggage is covered up to $1,250
  7. Global assist hotline – you get 24/7 access to different kinds of services when you travel more than 100 miles from home. Services include medical, legal, financial or other select emergency coordination and assistance services, including medical and legal referrals, assistance with cash wires, passport replacement, missing luggage and more
  8. Dining credit – you can earn up to $10 a month in statement credit when you use your Amex Gold card at Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed, and participating Shake Shack locations; you are required to enroll
  9. Airline fee credit – you can receive up to $100 in statement credits when you use your Amex Gold card to pay for fees such as checked baggage, in-flight snacks, movies, etc.; it’s important to note that you must choose one qualifying airline and make those transactions
  10. The hotel collection – you can get a $100 hotel credit and free room upgrades if you stay at least two consecutive nights when you book a hotel that is part of the hotel collection through Amex’s travel website
  11. Personalized travel service – you are able to contact Amex and arrange all of your travels from flights, to hotel, to ground transportation and more
  12. Travel collection – you are able to get access to travel discounts and more when you enroll in the Travel Collection by Travel Leaders Group

For more information and details on their benefits, check out their benefits page.

What is the interest rate and are there any other fees?

The American Express Gold Card does not have an introductory APR offer. Your APR will be between 15.99% and 22.99%, but the rate you get depends on your credit score.

Their other fees include:

  1. Cash Advance fee – $10 or 5% of the amount of each cash advance, whichever is greater.
  2. Late Payment Fee –up to $40
  3. Return Payment Fee – Up to $40

For more information on their fees, check out their fee schedule.

How is the customer service like?

There are a couple of ways you can contact their customer service. The first and most common way would be to call the number on the back of the card. The second way to contact them would be through their online chat system; you would initiate this chat by logging into your account and clicking on the “Chat” icon. Something important to note is that you have 24/7 access to their member service team for any questions you might have.

Should you get the American Express Gold Card?

Who it’s perfect for:

  1. People who travel frequently
  2. People who spend in their high rewards categories
  3. People who want the benefits and protections
  4. People who want a sign-up bonus

Who it isn’t perfect for:

  1. People who want either a no annual fee card or a low annual fee card
  2. People who spend in a variety of categories
  3. People who don’t travel often
  4. People who don’t spend a good portion of money in the high rewards categories

If you are still unsure if a rewards credit card makes sense, check out my post on Why You Should Use Rewards Credit Cards.

Additionally, if this card isn’t right for you, I invite you to check out my credit cards page for more information on other cards.

About the author

Mr. NahasFinance:


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