Is the American Express® Gold Card worth it?
The American Express® Gold Card is worth it for people who love dining out or spending a lot at the supermarket. If this describes you, the Gold Card offers more than enough benefits to justify the $250 annual fee.
Because this credit card has no preset spending limit and gives you plenty of premium benefits, it qualifies as a luxury card in more ways than one. One thing that makes the Gold Card special is the quadruple Membership Rewards points you earn on eligible purchases at restaurants, including takeout and delivery in the U.S., and at U.S. supermarkets (on up to $25,000 per year, then 1X).
If you’re a foodie looking for a restaurant card or just want to earn rewards from your grocery bill, the Amex Gold card is definitely worth considering.
▶︎ See more: Best credit cards for groceries
Amex Gold Card: Highlights
- The Amex Gold Card has a $250 annual fee
- Amex Gold cardholders can earn 4X points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X) and restaurants (plus takeout and delivery in the U.S.), 3X points on flights booked directly with airlines or on amextravel.com, and 1X points on other eligible purchases.
- New cardholders can earn a welcome bonus of 60,000 Membership Rewards points when they spend $6,000 on eligible purchases during the first six months of card membership.
- The Amex Gold Card comes with up to $120 of dining statement credits annually.
- Cardholders can benefit from up to $120 in Uber Cash annually (to receive this benefit you must have downloaded the latest version of the Uber App and your eligible American Express Gold Card must be a method of payment on your Uber account. This benefit may only be used in the United States).
- The American Express Gold Card doesn’t have a preset spending limit. Rather, this limit is set monthly depending on factors like credit history, income, and spending habits.
Who is the American Express Gold Card best for?
The Gold Card is best for individuals who dine out frequently, spend a lot on groceries, or travel regularly for work or leisure.
Although the Gold Card doesn’t have some of the travel benefits included with other American Express products, it does offer triple points on flights booked directly with airlines or arranged by American Express Travel. It also has a comprehensive Membership Rewards program, making it easier to maximize your annual benefits.
If you’re looking for a card with great benefits and rewards without the high fees of other luxury options, the American Express Gold card checks all of the right boxes.
American Express® Gold Card: Rewards
Welcome offer
Currently, new cardholders can earn 60,000 Membership Rewards points when they spend $6,000 on eligible purchases during the first six months of card membership. This could be worth up to $1,200, depending on how you redeem your points.
Whereas the 60,000-point bonus is available to every approved applicant, American Express often sends better welcome offers to targeted individuals, with some new members earning 75,000 in bonus points. You may even see a welcome offer of 90,000 Membership Rewards points or more.
Earning points
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4X points at restaurants. Earn 4X points on eligible purchases at restaurants (plus takeout and delivery in the U.S.). For example, if you treat yourself to a $500 steak dinner at Morton’s in Los Angeles, you’ll receive 2,000 Membership Rewards points (500 x 4).
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4X points at U.S. supermarkets. Earn 4X points on purchases made at U.S. supermarkets on up to $25,000 spent per year, then 1X. So for example, if you spend $100 on organic greens and fresh fruit, you’ll get 400 bonus points (100 x 4).
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3X points on air travel. Earn 3X points on air travel booked directly with an airline or with American Express Travel. For example, if you’ve been eyeing a $5,000 trip to Las Vegas, you can earn 15,000 points (5,000 x 3).
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1X points on all other eligible purchases. Even if your purchase doesn’t fall into one of the bonus categories, you’ll still earn 1 point per dollar. For example, if you spend $49 on books and magazines, you’ll get 49 points.
Amex offers
As part of the Membership Rewards program, Gold Card members also receive special offers from American Express. All you have to do is browse the list of available offers, activate the ones you plan to use and collect Membership Rewards points on each purchase.
Amex partners with a wide range of brands to provide discounts and limited-time offers on everything from streaming services to designer duds.
Referral bonus
With the Amex Gold referral bonus, you can earn points even if you don’t spend any money. Here’s how it works:
- Use the American Express website to enter a friend’s name and email address.
- Amex sends that friend a link to the Gold Card application.
- If your friend completes the application and qualifies for a Gold Card or another American Express card, you’ll get a referral bonus. They’ll also get a welcome bonus to sweeten the deal.
Redeeming points
You have several options when it comes to redeeming your Membership Rewards points:
- Use your points to buy gift cards for restaurants, airlines, grocery stores, hotels and retailers.
- Choose “Pay With Points” when shopping at one of 15 third-party retailers. Partners include Amazon, Best Buy, PayPal, Newegg, Saks Fifth Avenue and Dell Technologies.
- Visit the Membership Rewards portal to shop with an Amex partner.
- Cover recent charges by redeeming points after you’ve made a purchase with your Gold Card.
- Upgrade your flights, hotel accommodations and other travel arrangements.
- Transfer points to one of your favorite hotel or airline loyalty programs.
American Express® Gold Card: Benefits
Credits
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Dining credits. You’re eligible for up to $10 in statement credits each month (up to $120 per year) when you use your Gold Card to pay at a participating restaurant partner. American Express has many dining partners, including Goldbelly, Grubhub, Milk Bar, Resy, Cheesecake Factory, and select Shake Shack locations. Enrollment required.
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Uber credits. Statement credits aren’t the only reason to enroll in the Membership Rewards program. After adding your Gold Card to the Uber app, you can get $10 per month in Uber Cash, for a total of $120 per year. The good news is that you don’t have to use your Uber Cash just for rides. You can also use it to order food via Uber Eats. This benefit is only applicable to rides and Eats orders in the U.S.
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Hotel credits. The Gold Card even offers a $100 experience credit when you book a two-night stay with the Hotel Collection through American Express Travel.
Travel benefits & more
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American Express travel insurance. Amex Gold comes with $500,000 worth of travel accident insurance, including flight delay insurance, baggage delay insurance and trip cancellation and interruption insurance. It also covers car rental theft and damage, lost or stolen baggage and hotel burglaries. Each type of insurance protects you under specific circumstances, limiting your losses in the event of an emergency.
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No foreign transaction fees. You can swipe your Amex Gold Card freely overseas without worrying about incurring expensive fees on your purchases. However, Amex cards aren’t as widely accepted internationally as Visa or Mastercard, so it’s best to keep another card in your back pocket if you’re traveling abroad.
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Purchase protection. When you use your Gold Card to make an eligible purchase, you get the benefit of Amex purchase protection. American Express offers up to $10,000 per covered purchase and up to $50,000 per calendar year for most covered events. If the loss occurs due to a natural disaster, Amex only provides up to $500 in purchase protection per event.
▶︎ See our picks: Best credit cards for international travel
*Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
American Express® Gold Card: The fine print
Fees
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Annual Fee: $250
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Balance Transfer: $5 or 3% of the transfer, whichever is greater
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Cash Advance: $10 or 5% of each cash advance, whichever is greater
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Foreign Transaction: $0
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Late Payment: Up to $40
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Returned Payment: Up to $40
- (See rates and fees)
Interest rates
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Introductory APR: You may qualify for 0% interest on purchases for the first 12 months of membership. It depends on your credit profile and history with American Express.
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Balance Transfer APR: Some members qualify for 0% APR on balance transfers, while others pay the greater of $5 or 3% of the transfer amount. Again, it depends on your credit history and other financial circumstances.
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Pay Over Time APR: If you use the Pay Over Time feature, you’ll have a variable APR of 21.24% to 29.24% on any balance you carry.
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Cash Advances: The Gold Card charges a 29.99% APR on cash advances.
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Penalty APR: If your payment is returned or if you make a late payment, you’ll pay a penalty APR of 29.99%. This penalty rate stays active for at least six months.
Credit limit
The American Express® Gold Card doesn’t have a preset spending limit. This flexible spending limit is set monthly and depends on your credit history, debt level, income, payment history, and spending habits.
Having no preset spending limit can be beneficial to those who frequently charge high amounts and want to make the most of their reward points. However, having no preset spending limit does not mean there is no credit limit at all, and you need to be especially careful to make sure you aren’t charging more than you can afford to pay off.
American Express® Gold Card: Drawbacks
High annual fee
While $250 per year is lower than some premium cards, it’s still steep. If you can maximize the statement credits and bonus categories, you’re set. The statement credits alone can more than outweigh the cost. Some other cards offer similar rewards with lower or no annual fees, which may be a better bet if you’re not sure whether you can justify the $250 yearly cost.
For example, the Blue Cash Preferred® Card from American Express offers 6% back on up to $6,000 spent at U.S. supermarkets per year (then 1%), and it only charges a $95 annual fee (see rates and fees). Or the Capital One SavorOne Cash Rewards Credit Card offers 3% back at grocery stores (excluding superstores like Walmart® and Target®) and 3% back on dining, and it doesn’t charge an annual fee at all.
▶︎ Read more: Amex Blue Cash Preferred review and Capital One SavorOne review
Complicated benefits
The $120 per year in dining credits is great if you love going out to eat, but it’s not as simple as that. These credits are only doled out in $10 monthly increments and are only usable at select restaurants. Enrollment required.
If you already like to go to one of American Express’ restaurant partners, this might be an okay deal. Sure, $10 won’t get you very far, but it adds up over time. However, if you can’t utilize this perk, there’s a lot more of the annual fee you’ll still have to make up for.
▶︎ See our picks: Best credit cards for restaurants and dining
How the American Express® Gold Card compares
American Express® Gold Card vs The Platinum Card® from American Express
Simply put, the Amex Gold card is better for everyday spending with the added benefit of some travel perks, while The Platinum Card® from American Express is better for frequent travelers who want luxury benefits. The Gold card has a lower annual fee, but the Platinum comes with more perks and credits.
▶︎ Read more: American Express Gold vs. Platinum Card and Amex Platinum Card Review
American Express® Gold Card vs Blue Cash Preferred® Card from American Express
The big difference here is that the Amex Gold Card is a rewards credit card that earns membership points and the Blue Cash Preferred® Card from American Express is a cash-back card (received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com), so your choice comes down to what type of rewards you want. If travel benefits matter to you, the Gold Card comes out on top. If you want to save money with a lower annual fee, Blue Cash Preferred is the winner with an annual fee of only $95 (see rates and fees). For more details, check out our Amex Blue Cash Preferred review.
There is also the Blue Cash Everyday® Card from American Express, which is one of the best credit cards with no annual fee (see rates and fees). The reward rates are a bit lower and there are a few less perks, but it’s a fair trade off if you’re on a budget.
▶︎ Also see: Chase Sapphire Preferred® Card vs. Amex Gold
Should you get the Amex Gold Card?
If you can utilize the dining statement credits, Uber Cash, and maybe even the hotel statement credit benefit, then the American Express® Gold Card is well worth the $250 annual fee and would make a great addition to your wallet. And if you spend a decent amount in this card’s bonus categories, even better.
However, if you’re uncertain about utilizing the statement credits, you want different benefits, or you can’t maximize the reward categories, Amex Gold likely isn’t the best option for you.
Other Amex alternatives
If you’re not sold on the Gold Card, American Express has other niche travel cards that may interest you. Some of the best airline credit cards come from Amex, specifically if you’re a Delta frequent flyer. There are 4 American Express Delta cards to choose from:
Amex also partners with Marriott to offer the Bonvoy line of hotel credit cards, like the Marriott Bonvoy Brilliant, that lets you earn points for free stays and upgrades.
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