American Express Gold Credit Card Review

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American Express® Gold Credit Card Review

The American Express® Gold Credit Card offers an extensive rewards system for various spending categories. This credit card can be especially useful for those who spend a lot on dining out (at restaurants worldwide, plus takeout and delivery in the U.S) and groceries: 4x reward points is an outstanding benefit that is difficult to beat. Although the card has a noticeably high annual fee of $250, cardholders can reap significant benefits through intelligent spending.

American Express® Gold: Pros and Cons

American Express® Gold Rewards Point System:

American Express® Gold provides reward points for all eligible purchases. They vary according to the category of spending.

Supermarkets

The Gold members receive 4x reward points per dollar spent at US supermarkets. This offer is valid for up to $25,000 spent per year. Once you reach the limit, a 1x reward rate applies. Purchases at superstores and warehouse clubs are rewarded at a 1x rate.

Dining

4x reward points per dollar spent at restaurants worldwide are awarded to Gold members. Moreover, cardholders are offered up to $120 Uber Cash annually, credited in the form of $10 every month for Uber Eats orders or Uber rides in the US. Additional $120 credit can be earned when dining in participating partner restaurants such as The Cheesecake Factory and Shake Shack.

Air travel

3x reward points per dollar for airline tickets are awarded to Gold members if booked directly through the airline or Amex Travel site. It is not applicable when booking through other travel websites like Expedia.

Hotels

When booking hotels with American Express Travel® for two or more consecutive nights, Gold members receive a $100 credit for qualifying services and activities at the hotel, such as dining or spa.

Points & Reward Redemption:

Points are earned every time you use the American Express® Gold card for eligible purchases. Reward points can be redeemed in different ways. The cash value of your points varies with the redeeming category.

Pay with Points option

1000 points are equivalent to:

• $10 on NYC Taxi.
• $7 on Amazon, Best buy, Boxed, Dell, Grub hub, JustGiving, Newegg, PayPal, Rite Aid, Saks Fifth Avenue, Seamless, Staples, Walmart; paying through American Express Travel® for car rentals, cruise, hotels.
• $5 on Ticketmaster

Transfer Points

The credit card reward points are also transferable to other programs, such as frequent flyer loyalty programs. A fee of $0.0006 per point with a maximum fee of $99 is applied. For most airline partners, the transfer rate is 1:1; for Aeromexico, it's 1:1.6, while JetBlue transfer rate is 1:0.8. Not all points transfers happen instantaneously. Some may require a processing time of up to two weeks.

Gift Cards

The points can also be redeemed for gift cards. A complete list of various gift cards and their points value equivalent to 10,000 rewards points can be found here.

How to make the most of the American Express® Gold Credit Card?

While earning reward points with American Express® Gold is relatively straightforward, getting the maximum value requires additional knowledge. If you want to get the most value from rewards points, transferring them to partner airline or hotel programs is your best option. When you transfer rewards into a hotel or airline points, you can redeem them for free nights in the hotels and award flights regardless of their current prices. While some other redeeming options provide a reasonable rate (e.g., NYC Taxi or some gift cards), many have poor cash value.

Who can benefit from getting the American Express® Gold Credit Card?

Frequent supermarket shoppers and foodies would be the ideal applicants for the American Express® Gold card. The card can also be a good option for frequent travelers considering you get the most value from reward points by transferring them to partner airlines and hotels. AmEx Travel® offers extra perks for frequent flyers as well as the number of travel-related insurances.

Are there any other benefits?

Events benefits

With the American Express® Gold card, the members have access to ticket presales of Broadway shows and concert tours, member-only events, and premium seats for selected events.

Baggage insurance

You’re eligible for up to $1250 carry-on and up to $500 checked-in baggage coverage in case it was lost, stolen, or damaged if the entire fare was charged on American Express® Gold.

Rental car loss and damage insurance

The card provides secondary insurance coverage in case of theft or damage to rental cars; liability coverage is not provided. You have to pay with the card for the rental. The offer is not valid in Australia, Italy, and New Zealand.

Contactless Card

With more and more people conscious of common touchpoints due to the COVID-19 pandemic, the American Express® Gold card comes with a contactless feature. No need to swipe or insert; just a tap on the POS is enough for a transaction.

Instant Card number

Instant Card number allows you to immediately use your credit card without receiving the physical card. You just need to add your newly obtained virtual number to your digital wallet, like Samsung Pay, Apple Pay, or Google Pay, and start using it for payments.

Pay It Plan It

Pay It Plan It from American Express® is designed to make payments for large purchases more convenient — just split it into equal monthly payments with a fixed monthly fee and no interest.

ShopRunner Membership

If you are tired of visiting stores in person, this benefit is right for you. Being an AmEx ShopRunner member allows you to get your purchase from any partner store right at your home for free within 2 days.

Trip Delay Insurance

The trip delay insurance program from American Express® covers your losses from the trip delay. The delay reasons considered reimbursable include severe weather, terrorist actions or hijacking, Common Carrier’s equipment failure, and even lost or stolen passports or travel documents.

Extended warranty/Purchase protection

The American Express® Extended Warranty program may cover some of your purchases made with the American Express® Gold Credit Card.

Terms Apply.

Conclusion

American Express® Gold Credit Card is a solid choice for people who spend a lot on food, either in supermarkets or dining out. 4x reward points on US supermarkets and restaurant spendings alongside a welcome bonus of 90,000 points (after spending $6,000 in the first 6 months) are among the highest on the market. The annual fee is almost covered by Uber Cash and Dining credits of $120 each.

This card is a good choice for frequent air travelers as well. You can not only earn 3x points by using American Express® Gold Credit Card for booking flights directly with airlines or on amextravel.com, but also enjoy AmEx Travel perks accompanied by helpful insurances.