Tuesday, May 28, 2024

Is Amex Gold Worth It

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Is Amex Gold A Good Card To Use When Travelling

Amex Gold Card Worth It In 2021?! Everything You Need to Know

Yes, to the extent that you receive double Membership Rewards points when using the card abroad.

However, because Amex adds a 3% foreign exchange fee, you might want to get a separate free credit card to use abroad.

Unfortunately there are no credit cards with 0% foreign exchange fees worldwide which earn airline or hotel points. One option is to get a free card from Currensea. Currensea is a simple but clever idea. You pay abroad with your Currensea Mastercard debit card. Currensea translates the cost to Sterling with just a 0.5% fee and withdraws the money from your bank account. You can find out more about Currensea by clicking here. Currensea is free so there is no risk in giving it a try.

The Amex Gold Card Is Right For You If:

You can take advantage of the high rewards rate and spending credits it offers.

Since the American Express® Gold Card has so many benefits, it can work well for many different types of consumers. If any of the following are true, you should think about applying:

  • Youre a foodie. Whether you like going to restaurants or picking up your ingredients at the grocery store, youll have the opportunity to earn lots of bonus rewards.
  • You like to travel. This card has useful travel perks and flexible points you can transfer to several airlines and hotels.
  • You find the variety of credits valuable. The Uber, hotel, and dining credits can add up if you spend in these categories.

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American Express Gold Card Vs American Express Green Card*

With an annual fee of $150, the American Express® Green Card is one of the starter Membership Rewards cards. It earns 3 points per dollar on restaurant purchases, 3 points per dollar on travel including flights, hotels, transit, taxis, tours, and ridesharing services and 1 point per dollar on other purchases. The American Express Green Card could be a better fit than the Amex Gold if more of your budget is spent on getting around, particularly for those who commute and road-trip more than they fly.

Read our in-depth comparison of Amex Gold Vs. Platinum.

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Capital One Savor Cash Rewards Credit Card: Best Lower

Consumers should consider the Capital One Savor Cash Rewards Credit Card if they want to boost their rewards on dining. This card comes with a $95 annual fee and $300 in bonus cash for those who spend $3,000 within three months of account opening. From there, cardholders earn 8 percent back on purchases from Vivid Seats , 4 percent back on dining, entertainment and popular streaming services, 3 percent back at grocery stores and 1 percent back on other purchases.

Examine Your Existing Budget And Spending Habits

AMEX Green vs Gold

As you probably surmised from my mini-lecture above, the first step in determining if an Amex is right for you is to get a clearer picture of your existing spending habits.

If you use a budgeting tool, take a look at your spending summary for the past few months. If you prefer to budget more manually, pull up your current credit card statement as a substitute.

Now, what common are you spending the most in?

  • Amazon purchases?

Making a list of your top three spending categories will help you choose the right Amex card in the next step.

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American Express Green Card

The information for the American Express® Green Card has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.

The American Express® Green Card is less robust than the Gold Card but offers different perks. You also get a lower annual fee of $150 . Key card perks include:

  • Earn 3x Membership Rewards on dining, transit, and travel
  • $100 CLEAR membership credit
  • $100 LoungeBuddy credit
  • Up to $300 in trip delay insurance

New cardholders can earn 45,000 bonus points after spending $2,000 on purchases in the first 6 months of account opening.

Related: American Express Green Card Review

Two Airport Lounge Passes:

You receive two free airport lounge passes each membership year with Amex Gold, valid at any airport lounge in the Priority Pass network. Heathrow , Gatwick, Luton and Stansted amongst many others have participating lounges as do most major airports worldwide. After your two free visits, you can make further lounge visits for a £20 charge.

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Is The Amex Gold Worth It

As you shouldnt judge a book solely by its cover, you shouldnt choose a card only for its annual fee. The American Express Gold Card has a $250 annual fee . This fee is higher than most credit cards that cap out at $95 but is cheaper than premium credit cards that charge $550 each year.

While you pay a higher fee upfront, the various card benefits can be worth more than $250. If thats the case, the American Express Gold Card is worth it.

Access To The Amex Membership Rewards Program

Amex Gold Card Worth It In 2022?! (Full Review)

The Amex Gold Card gives you full access to the value of the Amex Membership Rewards program, and this is a great hub card for pooling all of your Amex points:

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Capital One Venture Rewards Credit Card

Simplicity can be a primary goal of your life at the moment. If so, the Capital One Venture Rewards Credit Card is for you. Purchases earn 2x Venture miles per $1 spent and you can redeem them for travel statement credits, future travel, and gift cards.

However, if you are wanting to earn a few more miles on travel, good newsearn 5x miles on hotels and rental cars booked through Capital One Travel. Plus, Venture cardholders will earn 5x miles when booking through the Turo app or on Turo.com .

You also get a Global Entry or TSA PreCheck application fee credit, up to $100.

The annual fee is $95.

Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel, with the Capital One Venture Rewards Credit Card.

People Looking To Complete The Amex Trifecta

The two biggest weak spots in the Amex Gold’s bonus categories can be easily fixed by pairing it with two other strong Amex cards: The Platinum Card® from American Express or The Blue Business® Plus Credit Card from American Express.

No matter how much money you spend on dining and groceries a year, youll likely want to combine multiple cards into the Amex trifecta to maximize your bonus category earning.

If you combine these three cards and use each one for its bonus categories, youll end up earning anywhere from 25 points per dollar, or 410% back, on nearly all of your purchases. And these cards really fit together like puzzle pieces, with the Amex Platinum providing luxury perks, such as lounge access and hotel elite status, that the Amex Gold doesnt, and the Blue Business Plus elevating your base earning rate on non-bonus spending from 1 point to 2 points per dollar without costing you a penny in annual fees .

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I Valued Rewards Points Over Cash Back

I was actually debating between choosing the Amex Gold Card and the Blue Cash Preferred® Card from American Express. The Blue Cash Preferred Card also had some considerable benefits that also suit my needs 6% cash back at U.S. supermarkets , 6% cash back on select streaming services, 3% cash back on transit and 1% cash back on everything else. Plus, this card has a $95 annual fee , compared with the Gold Card, which has a $250 annual fee .

However, the cash back could only be received as reward dollars that can only be redeemed as statement credit. Personally, I wanted more flexibility in how I could use my credit card rewards. I wanted the ability to purchase gift cards, use points to lower the cost of travel and more.

Both cards were extremely strong contenders that would each fit into my lifestyle needs, but in the end I decided that I valued rewards points more than statement credit.

Does The American Express Gold Card Have Lounge Access

American Express Gold Card Review

You won’t get any lounge access with the American Express® Gold Card. The Platinum Card® from American Express, which comes with a steeper annual fee and additional benefits, comes with complimentary airport lounge access.

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

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

The information related to Citi Prestige® Credit Card and American Express® Green Card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site . ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

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What Is The Amex Gold Annual Fee

There is no fee for the first year of Amex Gold.

For future years, there is a fee of £140. I would personally struggle to justify that fee in light of the benefits unless I was making heavy use of the $75 hotel credits. As the annual fee is refunded pro-rata if you cancel, there is no rush to cancel before the fee becomes due.

You may want to roll over your membership for a couple of months until you have used the two extra Priority Pass airport lounge passes which come on renewal.

Is The American Express Gold Card Worth It

As youre trying to decide if the Amex Gold Card is worth it, it can help to take a closer look at the cardholder benefits and how they work. This American Express credit card really stands out due to the following features and its rewards potential, which can help you net thousands of dollars in travel each year.

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Why You Might Want The Amex Gold Card

Along with the Amex Golds numerous benefits, rewards-savvy cardholders and frequent travelers will love the cards impressive rewards rate, bonus category variety, flexible point transfers and high point redemption potential. Combined, these benefits can carry a lot of value. However, there is a bit of strategizing that comes with carrying this card and making the most of it.

$120 Uber Cash Benefit

Amex Gold Card In-Depth Review 2021 (Still Worth?)

The Amex Gold Card offers up to $120 in Uber Cash annually. How does this work?

  • You receive $10 in Uber Cash each calendar month directly to your Uber account
  • This can be used toward U.S. Uber rides or U.S. Uber Eats orders, and you can use it across one or multiple transactions
  • To take advantage of this, youll have to add your Amex Gold Card to your Uber account, and then you can easily apply the credit through the app each month

If you spend at least $10 per month with Uber , then that credit should more or less be worth face value.

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Other Rewards Credit Cards To Consider

If you cant decide whether the Amex Gold annual fee is worth it, there are other cards with a lower annual fee or no annual fee that offer similar rewards or perks. Consider these options if youre hoping to earn more rewards on groceries or dining, or if you want to earn Amex Membership Rewards points, without paying a high annual fee.

X Points At Us Supermarkets

Admittedly everyone eats differently some people spend a lot dining out, while others prefer to cook. thats the beauty of the Amex Gold Card, as its great no matter how you like to eat. The Amex Gold Card offers 4x Membership Rewards points at supermarkets:

  • This is valid exclusively at supermarkets in the United States, and not abroad
  • This is valid for up to $25,000 in supermarket purchases per calendar year, and after that, you earn 1x points

If you ask me, the Amex Gold Card is the single best card for supermarkets. Personally I value Amex points at 1.7 cents each, meaning by my math the card offers a 6.8% return on supermarket spending.

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Who Is Eligible For An American Express Gold Card

You have to be 18 years or older and a U.S. resident to apply for the American Express® Gold Card. Your application will be reviewed largely on the basis of your credit, so you’ll need a good credit score for the best chance at approval. Make sure you understand the Amex application rules before applying.

American Express Gold Card One

Goldhealth: Amex Delta Gold Points Worth

As a new cardholder, you’ll earn 60,000 bonus points after you spend $4,000 in the first six months. If you redeem your points for travel directly with Amex, the one-time offer could be worth up to almost $750, which isn’t a bad return on spend for $4,000 worth of expenses in six months.

Even converted through a less lucrative option, the one-time offer points might still justify the card’s annual fee in full for the first year. That allows you some time to test-drive the card and determine whether its the right fit for you before its renewal fee looms.

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People Who Are Under 5/24 And Want More Chase Cards

As mentioned above, Chases 5/24 rule is one of the most important considerations in building a starter strategy for credit cards. Five cards can seem like a lot to someone who has never even had one before, but those slots fill quickly and once youve used them up, it takes a while to get them back.

The Amex Gold is probably going to be around for a while, so theres no reason to fire off an application for it right now if it means compromising your strategy with Chase.

The American Express Gold Card Vs Chase Freedom Flex

If youre looking to dip a toe in the world of dining and travel rewards, the Chase Freedom Flex card is worth a look. Although its marketed as a cash back card, the Freedom Flex actually earns Ultimate Reward points and comes with no shortage of bonus categories, all with no annual fee.

Youll earn 5% back on rotating bonus categories that you activate quarterly. This can be great if the categories line up with your regular spending, or it can backfire if the categories dont align with what you plan to buy. Plus, with 3% cash back on dining and drugstore purchases all year long, theres a lot of opportunity to earn cash back without worrying about recouping an annual fee. Additionally, if you decide to take the plunge with a premium Chase travel card, the rewards you earn with the Flex can be redeemed at a 25%-50% higher value in the Chase Ultimate Rewards portal.

Opting for the Freedom Flex or another cash back card will make your rewards-earning experience a little different, particularly as it relates to redemptions. You wont need to worry about point transfers or maximizing your point value because each purchase earns a percentage back as flexible Ultimate Rewards points. You can redeem these points for statement credits, direct deposits, travel, gift cards, Apple purchases all at a 1:1 rate.

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American Express Gold Card: Earn Top Rewards Whether You Cook Or Dine Out

The annual fee may be higher than other midtier cards, but the Gold Card is like two rewards cards in one.

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