American Express Gold Card review: An ideal rewards card for foodies and travelers

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The American Express® Gold Card is a versatile rewards card for anyone who wants to maximize their dining, grocery and travel spending. Cardholders can benefit from a competitive rewards program and various perks worth over $400 each year, which can more than offset the card's $325 annual fee (see rates and fees).

Below, CNBC Select breaks down the Amex Gold Card's benefits, rewards and fees to help you decide if it's the right card for you.

The American Express® Gold Card offers a valuable welcome bonus to help get your points balance started. Once you're approved for the card, you'll have the chance to earn a welcome bonus of 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Plus, receive 20% back in statement credits on eligible purchases made at restaurants worldwide within the first 6 months of Card Membership, up to $100 back. Limited time offer. Offer ends 11/6/24.

While the American Express® Gold Card comes with great perks, it also carries a $325 annual fee (see rates and fees). It's important to be realistic about whether or not you'll utilize all its benefits.

The Amex Gold offers more than enough statement credits to be worth the cost. However, the benefits require diligence to fully utilize, so if you don't see yourself using them, a different card may be a better option.

The Amex Gold Card comes with the following features:

• *$120 per year in Uber Cash to use for rides or Uber Eats orders ($10 Uber cash each month). Enrollment required.
• $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
• $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at Dunkin' locations.
• $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
• Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit to use towards eligible charges, which may include food and beverage, spa, or other on-property charges with every booking of two nights or more through AmexTravel.com. Credit use varies by property.
• No foreign transaction fees (see rates and fees)
• *Access to the Amex Global Assist Hotline and Personalized Travel Service
• *Travel insurance including baggage coverage and rental car loss and damage insurance

Given how popular Uber and Dunkin' are and the fact that you can use the dining credit on Grubhub, including pickup orders, many consumers should have no trouble using the various statement credits. Plus, the Resy credit is as simple as spending at one of the thousands of restaurants listed on the platform – you don't have to make a reservation on Resy.

You can easily justify this card's annual fee by taking advantage of these benefits, but you'll have to stay on top of it. Some perks require enrollment or an extra step before you can use the benefit and the value is doled out monthly or semi-annually. So you'll have to remember to use each perk regularly or you'll miss out on that month's credit.

Earning Amex Membership Rewards® points

The Amex Gold Card earns American Express Membership Rewards points and is especially valuable for certain everyday purchases. Eligible transactions earn:

• 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
• 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
• 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on Amextravel.com.
• 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
• 1X Membership Rewards® point per dollar spent on all other eligible purchases.

Redeeming Membership Rewards® points

You can use Membership Rewards® points in a variety of ways, including:

• Transfer them to partner airline and hotel loyalty programs
• Redeem them for travel through Amextravel.com
• Cover charges on your American Express card
• Pay with points at checkout with retailers such as Best Buy, Amazon, Dell and others
• Redeem them for gift cards, exclusive access to entertainment experiences and use them for preferred seats at events
• Purchasing merchandise directly through American Express

Although it's possible to easily redeem Amex points for gift cards, merchandise or statement credits, you typically won't get the best value per point with these options. The best way to use Amex Membership Rewards points is to take advantage of Amex's partner travel loyalty programs.

You can potentially earn a much greater value by transferring your Amex points directly to a partner airline or hotel loyalty program, which includes:

• Aer Lingus AerClub
• Aeromexico Rewards
• Air Canada Aeroplan
• Air France/KLM Flying Blue
• ANA Mileage Club
• Avianca LifeMiles
• British Airways Executive Club
• Cathay Pacific Cathy
• Choice Privileges
• Delta SkyMiles
• Emirates Skywards
• Etihad Guest
• Hawaiian Airlines HawaiianMiles
• Hilton Honors
• Iberia Plus
• JetBlue TrueBlue
• Marriott Bonvoy
• Singapore Airlines KrisFlyer
• Qantas Frequent Flyer
• Qatar Airways Privilege Club
• Virgin Atlantic Flying Club

To transfer your points, you'll need to connect the loyalty program to your Amex account and then transfer over the points you need for your booking. Points transfer instantly to some programs, while others may take a few days to process the transaction.

Transferring Amex points to the best partners allows you to book premium travel awards such as business-class flights for fewer points. For example, it can cost thousands of dollars to fly business class from the U.S. to Europe with a Star Alliance airline such as Swiss Air, Lufthansa or United. You could instead transfer Membership Rewards® points to Avianca LifeMiles and book this award. You typically only need 63,000 points (each way) to book these flights.

As of July 25, 2024, the American Express Gold Card has a $325 annual fee*. If you had the card before that date, the new annual fee will apply to account renewals starting Oct. 1, 2024. There are no foreign transaction fees*. Late payment and returned payment fees can be up to $40 each. The standard APR is a variable 21.24% to 29.24%*.

*See rates and fees

The American Express Gold Card is a great choice if you spend heavily on dining, groceries and travel. But how does it compare to other rewards and travel cards?

American Express Gold Card vs. The Platinum Card® from American Express

The Platinum Card® from American Express is an excellent option if you travel frequently and want to enjoy luxury benefits along the way.

To start, you can earn 80,000 Membership Rewards® points for a limited time after you spend $8,000 on purchases, on your new card in your first 6 months of card membership. As you spend with the card, you'll earn:

• 5X points per dollar for flights booked directly with the airline or through American Express Travel, up to $500,000 per calendar year
• 5X points per dollar on prepaid hotels booked via American Express Travel
• 1X points per dollar for all other eligible purchases

The Amex Platinum Card® comes with a long list of benefits, including credits for travel and major retailers — up to $200 in credits annually for airline fees, up to $200 for prepaid hotels you book through American Express Travel, up to $300 credits per calendar year for Equinox membership fees (enrollment required.), up to $100 in statement credits for shopping at Saks Fifth Avenue, up to $200 in Uber Cash each year ($15 monthly, with a $20 bonus in December. Benefit renews annually. Uber Cash and Uber VIP status is available to Basic Card Member only) terms apply. Up to $155 Walmart+ credits (subject to auto-renewal, Plus Ups excluded), up to $240 in digital entertainment credits for streaming services such as Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal (Enrollment required), access to a huge list of airport lounges, up to $189 to use for CLEAR® Plus membership, access to global dining via Resy, comprehensive travel insurance, complimentary American Express concierge services and complimentary elite status with certain hotel loyalty programs.

There is, however, a steep $695 annual fee (see rates and fees) for this card, so if you're debating between the two, be realistic about which benefits you'll reasonably take advantage of to help offset the cost of the annual fee. If you're a big traveler and want airport lounge access and hotel benefits like elite status with Marriott and Hilton, then the Amex Platinum is probably the better fit.

But, it's also key to analyze your spending habits. If you tend to spend a ton on travel, the Amex Platinum Card may be the better fit, but if your expenses are comprised mostly of grocery shopping and dining, the Amex Gold Card will likely earn more rewards. Since both cards carry significant annual fees, it's important to determine if your budget can handle the additional cost.

American Express Gold Card vs. Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card is constantly rated as one of the best travel credit cards on the market because of its low annual fee (just $95) and valuable rewards. Upon approval, you'll be able to earn a lucrative welcome bonus of 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. That's $750 when you redeem through Chase Travel℠.

As you spend with the card, you'll earn:

• 5X on travel purchased through Chase Travel℠
• 3X on dining
• 3X on online grocery purchases (not counting Target®, Walmart® or wholesale clubs)
• 3X on certain streaming services
• 2X for all other travel purchases
• 1X points for all other purchases

The card comes with excellent travel benefits as well, including no foreign transaction fees, extensive travel insurance including rental car coverage and a variety of transfer partners, including the following 14 airline and hotel loyalty programs:

• Aer Lingus AerClub
• Air Canada Aeroplan
• British Airways Executive Club
• Emirates Skywards
• Flying Blue (KLM and Air France)
• Iberia Plus
• JetBlue TrueBlue
• Singapore Airlines KrisFlyer
• Southwest Airlines Rapid Rewards
• United Airlines MileagePlus
• Virgin Atlantic Flying Club
• IHG Rewards Club
• Marriott Bonvoy
• World of Hyatt

If you're deciding between both cards, it's important to analyze each issuer's transfer partners for their rewards. For example, if you enjoy flying Southwest Airlines, the Chase Sapphire Preferred may be the better choice, but if you prefer Delta Air Lines, the Amex Gold Card could be the better pick.

The Amex Gold Card also has a few spending credits to be mindful of. If you aren't able to use those to help bring down the cost of the annual fee, the Sapphire Preferred may be the better option, as its annual fee is only $95.

If you want to simplify your financial life by keeping your card and bank accounts under one roof, American Express has you covered with checking and high-yield savings account options.

With an American Express® Rewards Checking account you get valuable features that are rare to find with checking accounts. You'll earn rewards for debit card purchases at a rate of one Amex Membership Rewards point for every $2 in eligible spending. On top of that, your checking account balance will earn 1% in interest. You get all of that with no monthly fees to worry about.

The American Express® High Yield Savings Account offers an amazing 4.25% APY, which compares favorably to the savings accounts that offer the best rates. You don't have to jump through any hoops to qualify for this account's high interest rate. Plus, all the money you earn is yours to keep because you won't pay any monthly fees, overdraft fees or excessive transaction fees.

The American Express® Gold Card is best for consumers who spend regularly at grocery stores and restaurants but aim to travel with their hard-earned rewards. Cardholders can quickly rack up points with the Gold card's large multipliers and get big value when transferring rewards to Amex's travel partners.

And while its $325 annual fee may seem steep, if you take advantage of all the dining, Resy, Dunkin and Uber credits, as well as other card benefits, you can easily offset the cost and make it worth your while.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

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For rates and fees of the American Express® Gold Card, click here.

For rates and fees of The Platinum Card® from American Express, click here.

*Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

*You must have downloaded the latest version of the Uber App and your eligible American Express Gold Card must be a method of payment in your Uber account. The Amex Benefit may only be used in the United States