This cards annual fee makes it cheaper than many premium cards and has more rewards than basic travel cards.
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With lots of no-annual-fee credit cards out there, the $325 annual fee on a card like the American Express® Gold Card can be hard to justify. Also, since the pandemic has kept a lot of travelers from leaving their homes, the card’s focus on travel rewards may not be as appealing. So is the American Express® Gold Card worth the annual fee?.
Well, there’s more to this card than just travel benefits. People who spend a lot of money at U.S. stores will like the American Express® Gold Card’s rewards system, which gives them 4 points for every $1 spent. S. supermarkets and restaurants worldwide, in addition to some valuable dining statement credits each month. Terms apply (see rates and fees).
This means that the benefits might be worth more than the annual fee for people who don’t travel much these days. Here is a quick list of the benefits of the American Express® Gold Card, followed by some things you should think about when deciding if it’s worth it for you.
The American Express Gold Card is a popular travel and dining rewards credit card with an annual fee of $325 (See Rates & Fees). With many no-annual-fee cards available, is the Amex Gold worth paying for? In this detailed guide, we’ll examine the pros and cons to help you decide if the Amex Gold is right for you.
Amex Gold Card Benefits and Features
Here are some of the key benefits and features of the Amex Gold Card
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Welcome Bonus: You may be eligible for a welcome bonus of up to 100,000 Membership Rewards points after spending $6,000 on purchases in the first 6 months. Welcome offers vary.
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4x Points: All restaurants around the world give you 4x points, up to $50,000 per year. US supermarkets give you 4x points, up to $25,000 per year.
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Dining Credits: Get up to $120 in dining credits per year, at $10 per month, through partners like GrubHub and Seamless.
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Uber Cash: Get up to $120 in Uber Cash every year for U S. rides or Uber Eats orders, at $10 per month. Must add card to Uber account.
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Airline Fee Credit: Get up to $100 in statement credits per year for incidental fees on one airline.
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No Foreign Transaction Fees: There are no foreign transaction fees on purchases made abroad.
When the Amex Gold Card is Worth the Fee
Here are some situations where the Amex Gold Card can be worth the $325 annual fee:
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You spend heavily on dining and U.S. groceries: With 4x points on these categories, you can rack up rewards quickly if you have a high food budget.
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You maximize the monthly credits: Between the dining, Uber Cash, and other credits, you can earn over $400 in statement credits per year, offsetting the annual fee.
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You can send points to airline and hotel partners. Sending Amex points to partners can make them worth more when you use them to book travel.
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You earn the welcome bonus: The bonus alone of up to 100,000 points can be worth over $2,000 in travel.
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People who shop at small businesses can get deals and extra points through Amex Offers at some small businesses.
When the Amex Gold Card May Not Be Worth It
Here are some situations where the Amex Gold may not provide enough value:
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You prefer cash back: If you don’t travel much, basic cashback cards may be better since Amex points are best for travel.
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You can’t use the monthly credits: If you won’t use the Uber, dining, or other credits each month, the fee is harder to justify.
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You don’t spend much on dining/groceries: Without high spending in these categories, the 4x bonus isn’t as valuable.
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You already have an Amex Platinum: The Platinum offers similar benefits like lounge access and airline credits, so owning both may be redundant.
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You stay under the Chase 5/24 rule: Getting Amex cards first can make you lose out on valuable Chase card bonuses.
Tips for Maximizing the Amex Gold
Here are some tips to get the most from your Amex Gold Card:
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Use the 4x categories as much as possible, up to the annual caps.
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Add your card to services like Uber Eats and Grubhub to trigger the credits.
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Set calendar reminders to use your credits each month.
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Save your points for transfer partners like Aeroplan for award flights.
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Check Amex Offers frequently for bonus points and discounts.
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Use the airline fee credit for expenses like seat upgrades or bag fees.
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Pay your balance in full each month to avoid interest charges.
The Bottom Line
The Amex Gold Card is worth it for the right type of cardholder. If you frequently dine out and shop at U.S. grocery stores, taking advantage of the 4x bonus categories, credits, and other perks can easily offset the $325 annual fee. But if your spending habits don’t align with the benefits, a no annual fee cash back card may suit you better. Consider your situation carefully when deciding if the Gold Card’s luxury rewards are worth the cost.
Frequently Asked Questions
What is the Amex Gold Card annual fee?
The Amex Gold Card has an annual fee of $325.
What is the Amex Gold Card welcome bonus?
The standard Amex Gold Card welcome bonus is 60,000 points after spending $4,000 in the first 6 months. You may be targeted for bonuses up to 100,000 points.
What credit score do you need for the Amex Gold?
You will generally need a good to excellent credit score of 670 or higher to qualify for the Amex Gold.
Does the Amex Gold earn Membership Rewards points?
Yes, the Amex Gold earns transferable Membership Rewards points that can be transferred to airline and hotel partners.
Can you get airport lounge access with the Amex Gold?
No, the Amex Gold does not offer complimentary airport lounge access. For that, you’d need the Platinum Card from American Express.
Use the $10 monthly Uber Cash and $10 monthly credits for select dining services
The American Express® Gold Card comes with several hundred dollars in credits, including up to $120 annually in dining (up to $10 per month at specific delivery services including Grubhub, Goldbelly and a few restaurants).
From 2021 on, American Express also added a new benefit to the American Express® Gold Card: Uber Cash, which can be used for either U.S.-based or international rides. S. rides or Uber Eats orders. You have to add the card to your Uber account and pay with it (or another AmEx card) to collect the benefit. Terms apply.
You can likewise get an $84 annual credit for spending at U. S. Dunkin locations and another $100 credit for spending at U. S. Resy restaurants.
If you make use of the full amount of all these credits, youll pick up $424 worth of value, completely covering the annual fee.
Enrollment required. Terms apply.
The American Express® Gold Card annual fee is not worth it if you…
- Prefer cash back. It can be hard to get the most out of your AmEx Membership Rewards points because their value changes depending on how you redeem them. Trading points for flights or other rewards can be hard if you’d rather just get cash back or a credit on your statement.
- Cannot use the aforementioned dining and related credits.