Is The Amex Gold Card A Credit Card Or A Charge Card
Technically, it was long considered a charge card. The various American Express cards that have just a color as the name were all technically charge products.
Unlike a typical credit card, the Gold Card has No Preset Spending Limit, which allows you to carry a balance for certain charges, but not all of them, using a feature called Pay Over Time. Your spending limit is flexible and may vary over time based on things like your purchase, payment, and credit history.
The distinction is also important because Amex has a interesting product limit per person.
You can have 5 Amex credit cards but up to 10 Amex cards that were formerly classified as charge cards. Since its very easy to run out of credit card slots in your American Express profile, its good to know that even if you are at your 5 credit card max, you could still get an Amex Gold card.
Its also important to know that American Express has moved away from the concept of charge cards for cardholders. All cards formerly referred to as charge cards now feature a Pay Over Time APR feature to make them function similar to traditional credit cards.
Traditionally, the Amex portfolio of charge cards were cards in which you could not carry a balance and had to pay all charges in full each month. But with Pay Over Time now built into the charge cards by default, this no longer really applies. Unlike typical credit cards, these Cards allows you to carry a balance for certain charges, but not all of them.
Centurion Card From American Express
Centurion®members can bring two additional guests or immediate family members intoAmex lounges with them free of charge, and can also buy day passes foradditional guests for $50 each.
This card is available by invitation only, sodont expect to see an application link anywhere online. While American Expressdoesnt publicly disclose the invitation criteria, its various fees can runthousands of dollars.
What Is The Rose Gold American Express Card
The Rose Gold Amex is a special color of card that was issued when American Express refreshed the Gold Card in October of 2018. It was discontinued for over a year before recently being made available again.
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How To Get Amex Gold Card Military Fee Waiver
US military servicemembers and spouses can usually get their $250 annual fee waived on the Amex Gold Card without even calling in.
If you open the card while you or your spouse is on active duty, your fees will be waived under Amex Military Lending Act or MLA policy. You can confirm your MLA eligibility in the MLA database here:
If you opened the card before active duty, you may need to apply for Amex SCRA benefits. Here is the process:
Capital One Savorone Card
Designed with foodies in mind, the Capital One SavorOne Cash Rewards Credit Card offers unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores . Although the bonuses are fewer than the Amex Gold Card, the lack of an annual fee makes this an interesting alternative, especially if you find cash back more appealing than travel rewards. On the downside, the card doesnt offer much in the way of perks.
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The American Express Platinum Card
The Platinum Amex card offers members five points for every dollar spent on flights booked directly through airlines or through the American Express travel site, five points for prepaid hotels booked through amextravel.com, and one point for every dollar spent on other purchases.
The Platinum welcome bonus as of February 2021 gives cardholders 75,000 points when they spend $5,000 or more in the first six months of account membership. This is the equivalent of $855 for flights booked through the Amex travel website. However, if you decide to add up to three additional cards on your Platinum account, expect to pay an extra annual fee of $175. Each card after that will be billed a $175 annual fee, as well.
The Platinum card is great for people who love to travel. There are obviously many more perks that come with the Platinum card than with the Gold, especially when you consider the higher annual fee. Rewards can be used for merchandise, gift cards, dining, shopping, entertainment, or for use at the Amex travel website. Points can also be transferred to other frequent flyer programs.
The Platinum card offers Uber ride credits in the United States, giving cardholders a maximum of $15 in credits each month. The card also comes with an annual $200 incidental airline fee credit on the eligible airline of your choice, giving passengers complimentary checked baggage and an in-flight meal with qualifying airlines.
How Does The Amex Gold Card Compare To Other Rewards Cards
While the Amex Gold card offers one of the best rewards rates on both restaurant and U.S. supermarket purchases, its high annual fee can limit its earnings. Plus, while it comes with a few valuable credits, its dining credit has a limited scope, potentially decreasing the overall value you can get from the cards extras.
To get a sense of where the Amex Gold stands in todays marketplace, our team of researched hundreds of credit cards to rank the Amex Gold based on factors like its rewards rate, welcome bonus, annual fee and more. The card fared quite well, especially in its rewards rate, welcome bonus and annual bonus . It does charge a higher annual fee than the average rewards card, however.
Though the Amex Gold can easily pay for itself if you take advantage of its benefits, if you arent sure how many of the cards perks youll use and worry about a high annual fee coming back to bite you, there are a few other rewards cards that offer great rewards rates and charge a lower annual fee. Plus, since the cards rewards are best used for travel, it may not be the best fit if youre looking for maximum flexibility.
Consider these alternatives:
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People Who Can Max Out The $240 In Annual Statement Credits
One of the toughest things for many new points enthusiasts to wrap their heads around is the value of a premium credit card. No matter how much personal value you get out of some of the perks, you still end up paying hundreds in fees each year for the right to use them.
The Amex Gold makes that math much simpler if you can max out both of its monthly benefits.
The up to $120 per year dining credit is broken down into $10 a month, similar to the Uber credit that comes with the Amex Platinum, but it also is pretty easy to maximize. I cant think of a single purchase at any of the partner dining merchants that would cost less than $10 a month, so if you eat out or order in once every 30 days this should be easy to take advantage of. Enrollment required for select benefits.
The new Uber Cash benefit of up to $120 annually can also be used on U.S. rides and U.S. Uber Eats orders.
If fully using the Uber Cash benefit and the dining credit sounds like something you can do, youll effectively end up paying $10 a year to keep the Amex Gold, making it one of the cheapest cards relative to the benefits it offers. And it should be easy to earn back that last $10 by taking advantage of one or more Amex Offers, where you can earn discounts on purchases you likely would have made already. Enrollment required for select benefits.
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Gold Vs Platinum Amex Card: An Overview
Lets face it, theres a secret pleasure attached to American Express precious metal cards, whether Gold or Platinum. Whether it’s from decades of tv brand advertising or simply because you know your boss carries one, you have decided to join the club because membership has its privileges. You can imagine your restaurant server or local merchant taking notice when you hand over the iconic card brand with the metallic sheen. Perhaps the status buzz comes from the cards being charge rather than credit, which means the bill is paid off in full at the end of the month. The subtle message it conveys is: I can afford to spend freely on everything I want and need and not go into long-term debt to pay for it.
But when it comes time to choose a premium Amex card, how do the gold and platinum cards compare? The American Express Gold card carries a $250 annual fee while the Platinum card has an eye-popping $550 annual fee, as of June 2020.
Over 10 years of use, the Platinum will cost you an additional $5,500, and a side-by-side comparison confirms that the Platinum card is basically a Gold card with some attractive add-ons. As a result, it’s best to make your decision based on whether you will value and use the additional features year in and year out. If so, the Platinum card may well be worth the higher annual fee.
One Must Have Good Or Excellent Credit
The Amex Gold offers above-average benefits. So what credit score is needed for the Amex Gold? The Amex Gold credit score needed isnt exactly a straightforward answer. This means it needs a higher credit score and deeper credit history than most cards. However, the minimum score might be lower than you imagine.
Your approval odds can be high if your credit score is in the good or excellent categories.
Here are the starting points for both :
- Good credit: 670 FICO score or 700 VantageScore 3.0
- Excellent credit: 740 FICO score or 800 VantageScore 3.0
Most free credit score sites provide the VantageScore 3.0 version. Your bank or existing credit card may also provide a free VantageScore. In some cases, banks provide the FICO Score 8 for free.
Banks usually review your FICO Score 8 version when you apply for a new card.
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Whats The Difference Between The Amex Gold And Rose Gold
The only difference between the Rose Gold Amex and the Amex Gold Card is the color. Besides the pink hue on the rose gold card, the two are exactly the same. They both come with an annual fee of $250 , an incredible welcome bonus of 60,000 points after spending $4,000 on purchases in the first six months of account opening, and the exact same rates of earning points on dining at restaurants, groceries at U.S. supermarkets, and flights booked directly with the airlines or via American Express Travel and other purchases.
Well get more into the benefits later in this article, but for now, know that these two cards are the same in terms of earning, redeeming and fees.
What Is Rose Gold And Why Is My Amex Card This Color
Unless youve been hiding under a rock for the past few years youve probably heard about rose gold as a trendy color. It first hit the mainstream as a color choice for the iPhone 6S in 2015. While its easy to dismiss it as just a shade of pink, rose gold is an actual thing.
Rose gold is an alloy consisting of 24-karat yellow gold, copper and sometimes silver. The amount of copper determines the amount of rose color. Its not a new color it dates back to the early 19th century and was used by Faberge in his famous eggs.
However, its only recently that the color has once again become a fashion trend. Heres a Buzzfeed article about 24 Rose Gold items you need to have. If youre a Disney fan, a set of Rose Gold Mickey Ears are still a treasured commodity, as theyre on the 3rd edition since the 2017 release.
For points and miles collectors, the most likely place youll find anything Rose Gold colored is in your wallet with an American Express Rose Gold Card.
In 2018, American Express relaunched the Gold card with new benefits and a higher annual fee. As a part of that rollout, the new metal card was offered in a Gold or Rose Gold version.
Eventually, AMEX stopped letting people choose the Rose Gold version. Until recently, the only choice was a regular Gold card.
AMEX apparently was getting plenty of requests for the return of Rose Gold and per their own surveys.
The only card where Id understand picking your card design is with the card. Id also get the
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Upgrade Amex Gold To Amex Platinum
While the Amex Gold card is great, you can upgrade this card to the even better Amex Platinum after 1 year of card membership.
I recently upgraded my Amex Gold card to another Amex Platinum card. I then opened another Amex Gold card account to continue to have access to the 4x points on worldwide restaurants and US supermarkets.
Please note, you are not eligible for the welcome offer on this card if you have ever received a welcome offer before on an Amex Gold card or an Amex Premier Rewards Gold card.
Because I had previously opened an Amex Gold card account and received a welcome offer, I will not be eligible for future welcome offers on new accounts.
After another year I will upgrade my new Gold card to another Amex Platinum card and the open another Amex Gold card. This process should be able to continue until I leave active duty or I hit the Amex charge card limit. Maybe I’ll even get more than 11 Platinum cards!
Bottom line, the Amex Gold card is perfect for traveling military servicemembers and spouses who eat out at restaurants either at home or on the road or grocery shop. The Gold Card should be your go to card for all food purchases, whether it’s making food at home or letting someone else do the cooking and clean up!
Apply for the military annual fee waived Amex Gold Card today!
Bigger Offer Earn 50000 Membership Reward Points On The New Amex Rose Gold/gold Card
If you want to double the new offer on the American Express Gold card, or the new Amex Rose Gold card as it should be called, check out this deal! Get 50,000 Membership Reward points and all of the same benefits instead of the low 25K previously offered.
Yesterday, I wrote about the new Amex Rose Gold card . My biggest takeaway of the card was that it was nice to give the new spending categories but to only get 25,000 points for a $250 annual fee was a bad idea.
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Referring Friends And Family Members
Another benefit that isnt exclusive to the Amex Gold card that Ive been able to use this past year to earn points is referring friends to get their own cards.
American Express allows you to refer friends and family members to any Amex card to earn bonus points once they are approved. This is an easy way to boost your Amex Membership Rewards account and especially helpful if your overall spending has gone down recently meaning you havent been earning at quite the same rate as in a normal year.
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Ways To Pay Your Card
You should be aware that the Amex Gold is a charge card, and while it doesnt have a preset spending limit, your credit line is not limitless. If you are planning a big purchase, you might want to check with the issuer to make sure there is a big enough credit line and to ensure that the purchase is not flagged as fraud.
To avoid diluting the value of points earned, we recommend paying off your balance every month. But the Amex Gold charge card will allow you to pay the minimum amount due and use the Pay Over Time feature where you carry the balance with interest of 15.99% to 22.99% depending on your creditworthiness.
There is also a Plan It feature that allows you to split large purchases into monthly payments with a fixed fee, though there is a limit on the amount you can carry as a balance or move to a plan.