Here Are Two Reasons To Switch To The Amex Gold Credit Card
There are two good reasons why you may want to get the Gold card if you already have the Gold charge card. You can then cancel your Gold charge card.
But and I want to be clear about this you will NOT receive a sign-up bonus on the Gold credit card. This is because you already have a Membership Rewards account via your Gold charge card. If you want to receive a sign-up bonus, you would need to cancel your existing Gold charge card, close your Membership Rewards account and reapply after 24 months.
Here are the two good reasons to apply for the Gold credit card, given that you are paying £140 per year for Gold charge:
- You will still receive your first year on the Gold credit card for free. This is important. Instead of paying the £140 annual fee on your Gold charge card, you could apply for the Gold credit card and get a year of free membership. You would save £140 over the next 12 months. The fee on your existing Gold charge card will be refunded pro-rata when you cancel.
- You will receive another Priority Pass card with another two free airport lounge passes. Of course, your existing Priority Pass will be cancelled if you cancel your existing Gold charge card so you may want to wait until youve used up your two free lounge entries for your current year.
The Annual Fee Is Steep
For folks who maximize the American Express® Gold Cards annual credits and spend plenty in the card’s bonus categories, the card is worth every penny, even at $250. But for those who cant, a card with comparable rewards but without the annual fee is a smarter choice. Thats why you might want to consider the Capital One SavorOne Cash Rewards Credit Card.
This card offers an excellent 3% cash back on dining, entertainment, popular streaming services and at grocery stores , plus 1% on all other purchases. Because it offers cash back, rather than points, the rewards are more flexible and easier to redeem. Like the American Express® Gold Card, it doesnt charge foreign transaction fees. It also comes with a solid welcome bonus, 8% cash back on purchases through Capital One Entertainment and 5% cash back on hotels and rental cards booked through Capital One Travel .
Earn 60000 Bonus Points
The current welcome offer on the American Express® Gold Card is one of the higher offers we’ve seen:
60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
This generous offer will get you at least $600 in value when redeemed for flights through the Amex Membership Rewards portal. Plus, there’s potential for even more value if you transfer your points to one of Amex’s transfer partners.
This is a solid offer, but you can find credit cards offering even more valuable offers with a lower annual fee. American Express also has a “once-per-lifetime” rule, meaning you can’t receive this welcome offer if you’ve ever had this card before.
What it’s worth: $600 in Membership Rewards travel, possibly more if you transfer to an Amex loyalty program partner
Who’s eligible to earn this offer? You won’t be eligible to earn this welcome offer if you have or have ever had this card or the Premier Rewards Gold Card from American Express, even if you didn’t previously earn the welcome offer. American Express also reserves the right to revoke this offer if they find evidence of abuse or misuse, which includes canceling or downgrading the card within the first 12 months.
Learn more about Membership Rewards
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Is It Hard To Get An Amex Gold Card
The Amex Gold Card is a premium card, so it’s harder to get than some other rewards cards. Amex will look at your , income, account history, and other factors when it looks at your application.
You also won’t be eligible for the bonus if you have or have had, the Amex Gold Card. Amex’s has a once-per-lifetime rule which means you’re only eligible for the bonus once, per card, per lifetime. However, if you have/had the business version of the card the American Express® Business Gold Card you’re still eligible for the Amex Gold Card.
Is The American Express Gold Card Worth It
The American Express® Gold Card can prove extremely lucrative for anyone who spends a lot on travel and food. It’s a great middle-of-the-road card for anyone who wants premium perks and bigger rewards, but isn’t ready to pay for the steeper annual fee on a card like The Platinum Card® from American Express.
To get the most value out of this card’s rewards system, though, you have to redeem your points for flights through the Amex portal or transfer them to one of Amex’s airline partners. This means that the American Express® Gold Card is best for people who want to earn rewards that can be redeemed for flights otherwise, you’re probably better off with a rewards program that’s a little more flexible.
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Review: The American Express Business Gold Card
Links on Head for Points may pay us an affiliate commission. A list of partners is here.
If you are looking for an Amex business card, American Express offers two core products in the UK. This review looks at the American Express Business Gold charge card. Our review of the other Amex business card, the American Express Business Platinum charge card, is here.
This article was updated on 1st August 2022, and all of the information is correct as of that date. Ignore the original publication date shown.
How To Earn Points With The American Express Gold Card
The Amex Gold Card is among the best cards for foodies because it earns strong rewards on dining and grocery shopping. You’ll earn points at the following rates:
- 4x points at restaurants and at U.S. supermarkets
- 3x points on flights booked with the airline or Amex Travel
- 1 point per dollar on all other purchases
To maximize your points earning, you can pair the Amex Gold Card with other Amex cards to earn the most points for every purchase. The “Amex Trifecta” of cards includes the Amex Gold Card, The Platinum Card® from American Express, and The Blue Business® Plus Credit Card from American Express.
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Review: Is The Amex Gold Card The Best Card For You
The American Express® Gold Card got a makeover last year with the addition of new statement credits and the return of the stylish rose gold card design, but there are plenty of other reasons it should be on your radar.
For starters, the Amex Gold Card is currently offering its highest public welcome bonus offer ever: 60,000 points after you spend at least $4,000 in your first 6 months of card membership. The previous offer was for just 35,000 points after meeting the same spending requirement, so the current bonus represents a significant boost.
You may be able to earn an even higher bonus on this card through a targeted offer directly from Amex or via a referral link from a friend or family member.
The card also earns a whopping 4x Amex Membership Rewards points at restaurants and 4x points on up to $25,000 spent at U.S. supermarkets each calendar year . For this reason, the Amex Gold Card sits high on our lists of the best cards for grocery purchases and best cards for dining. You’ll also earn 3x points on flights booked directly with airlines or through Amex Travel, and 1 point per dollar on all other eligible purchases.
Read more: Guide to the best American Express cards
We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Up To $10 In Monthly Dining Credits
Amex Gold Cardholders receive up to $10 per month back in statement credits, worth up to $120 per year**, toward purchases with Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House , Boxed , and participating Shake Shack locations.
Even if you don’t visit the participating restaurants, getting the credits for Grubhub and Seamless food deliveries makes it easy to max out the credit each month, since you’ll have so many restaurants to choose from. After you use your Amex Gold Card for the purchase, you’ll receive the statement credit but keep in mind, if you don’t use the full credit one month, it won’t roll over to the next.
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Restaurant Stocks Cashing In On Amex’s Red
This month’s hottest charge card is American Express‘ freshly updated American Express Gold Card. The financial services giant is sprucing up the foodie features on its iconic card, making it more valuable the next time you’re dining out or ordering takeout.
The card that was formerly known as Premier Rewards Gold before this month’s rebranding is now offering four Membership Rewards points for every dollar spent at U.S. restaurants, far more than any of its other credit or charge cards. It’s also offering anyone that signs up in the next three months a 20% rebate on restaurant purchases, up to $100 in statement credit. However, the real meaty feature for restaurant stock investors is a recurring $10 monthly statement credit for dining at select eateries. The initial slate of chains participating in the monthly rebates is limited to Cheesecake Factory, Ruth’s Hospitality Group, and most Shake Shack locations. A fourth option — and more than likely the one that will be the most used — is Grubhub and its Seamless subsidiary.
Image source: American Express.
How The American Express Gold Card Compares To Other Travel Cards
The Amex Gold is perhaps the best all-rounder of the American Express premium travel cards, considering its travel credits and upgraded rewards on everyday categories. Its $250 yearly pricing makes the Amex Gold card a fantastic pick if you need a middle-ground between the $99 annual fee-level premium cards and elite cards in the $450+ annual fee range, but there are other options if it doesnt line up with your spending.
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Points Per $1 At Restaurants
Amex Gold has one of the highest restaurant rewards rates on the market. The 4 points per $1 that youll earn on restaurants worldwide works out to about 3.08% cash back. And theres no limit to the amount you can earn in this category. Pretty much any place youd think of as a restaurant qualifies, from fast food to fine dining, plus takeout and delivery in the U.S. But it ultimately depends on the establishments merchant category code. A restaurant inside a hotel or casino may not count, for example, if the merchant is classified as a hotel or casino.
Are There Any Drawbacks To The Amex Gold Rewards Card
Acceptance is still one of the biggest limitations of any American Express card. While the company is actively improving access to pay with small businesses and offering an easy search feature within their mobile app and website, Amex cards still arent as widely accepted as Visa or Mastercard. While American Express maintains a very large network of merchants, it is wise to also carry a second no-fee Visa or Mastercard credit card in case a store or other vendor doesnt accept Amex.
Finally, while Amex Gold Rewards offers access to more points-transfer partners than competitor cards, you can find higher accelerator rates on categories like grocery, dining and entertaining on the American Express Cobalt Card .
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Platinum Card From American Express
The Platinum Card® from American Express is a favorite among travelers, and for good reason. It has a luxurious lineup of benefits and rewards, which makes up for the eye-popping $695 annual fee.
For starters, youll earn a welcome bonus of 100,000 Membership Rewards points after spending at least $6,000 on purchases within the first 6 months of account opening.
Plus, the rewards rate is pretty good youll earn
- 5 points per $1 spent on flights booked through an airline or at AmexTravel.com on up to $500,000 spent per calendar year
- 5 points per $1 spent at prepaid hotels booked on AmexTravel.com
- 1 point per $1 spent on purchases elsewhere
You can redeem points for travel purchases, statement credits, gift cards and more.
Even if you dont spend a lot on travel, you can still get a lot of value out of the cards other benefits, such as up to $200 annually in Uber Cash credits for U.S. Uber rides or Uber eats orders and access to more than 1,300 airport lounges worldwide through the Global Lounge Collection.
Who Is This Card Good For
Whether youre an aspiring home chef or prefer to visit new restaurants weekly, the Amex Gold is the king of dining rewards. Basically, anyone who spends a large chunk of their budget on food will watch the points stack up with this card and youll also be rewarded with up to $240 in annual statement credits.
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What Credit Score Do You Need For The Amex Gold
American Express Business Gold Card
Earn 70,000 Membership Rewards points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.
|Rewards Earning Rate||Get 4X Membership Rewards points on the 2 select categories where your business spent the most each month. 1X is earned for other purchases. 4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year.|
|Cash Advance Fee||This card does not offer cash advances|
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American Express Gold Card: Key Features
To view rates and fees of the American Express® Gold Card, see this page.
Card type: Rewards.
Annual fee: $250.
Welcome bonus: Earn 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership. Terms Apply.
4 Membership Rewards points per dollar spent at restaurants.
4 points per dollar spent at U.S. supermarkets on up to $25,000 in purchases per year.
3 points per dollar spent for flights booked directly with airlines or with American Express Travel.
1 point per dollar spent on other eligible purchases.
Membership Rewards points are worth about 0.5 cents to 1 cent each depending on how you redeem them. Travel and gift card redemptions are generally the most valuable. Points are also transferable and can be worth even more if redeemed strategically after being transferred to other loyalty programs.
For details on transfer ratios, see AmEx’s website.
Foreign transaction fees: None.
You’re Rewarded Most For Spending On Food
Groceries are a necessary expense so I figured I might as well get a card that rewards me for my weekly trips to Trader Joe’s and any instances where I go out to eat with friends. This card lets you earn 4X Membership Rewards® points at restaurants and on takeout and deliveries and at U.S. supermarkets . Spending on food allows you to earn the highest amount of rewards points for this card.
Keep in mind, though, that many credit cards have a limit as to which supermarkets you can earn additional rewards at. I looked up the list for American Express prior to applying for the card to make sure I would earn the maximum amount of points for the grocery stores I frequented.
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How American Express Gold Card Compares To Other Cards
With its high rewards rate and no foreign transaction fees this card competed well with most other rewards cards. However, assessing how it compares to other rewards cards comes down to what you’re looking for in a card.
In-Depth Credit Card Comparisons:
- Mini Verdict: Good for minimalist shoppers who want cashback for daily spending.
American Express Gold Benefits
- Global Assist Hotline: 24/7 access for medical, legal, financial and other select emergency assistance and coordination services.
- Amex Hotel Collection: Get a $100 hotel credit to spend on qualifying dining, spa and resort activities, plus a room upgrade upon arrival, if available, when you book a stay of at least two consecutive nights with American Express Travel.
- Baggage Insurance: Provides coverage for eligible lost, damaged or stolen baggage. Terms Apply.
- Car Rental Loss and Damage Insurance: When you use your card to pay for a rental vehicle and decline the collision damage waiver at the rental counter, you may receive secondary auto coverage in an eligible territory. Terms apply.
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