Credit Card Spotlight
AMEX
Gold Card
The Gold Card is one of the top cards on my list. It isn’t in my wallet yet but it will be eventually. I’m still planning out my credit card journey but I know this one will be apart of it. For now, it is simply the AMEX Card I choose to review first.
Tier
What Is the Amex Gold Card?
The American Express Gold Card is one of the most iconic credit cards on the market today. Credit newbies can only consider it with awe. Credit pros know it as one of the best rewards cards for everyday spending. If you’re looking to play the game, it offers great value.
There’s a lot that goes into choosing the right credit cards for you. Here’s a quick look at where the Gold Card excels most.
Is This American Express’s Best Credit Card?
Annual Fee
Sign Up Bonus
Recommended Credit Score
High Rewards
Earn with every purchase. This card accumulates points quickly. Do it right and you can often beat the return offered by similar cashback cards.
Perks & Benefits
Unlock more doors. This card gives you access to deals, protections, and/or other exclusives. Take advantage of them to maximize your value.
Clout Magnet
Stand out in the crowd. This card has that aura of class that often leads to special treatment. Become an instant VIP every time you pull it out.
Is This American Express’s Best Credit Card?
The Details
This a feature-rich card with flex value.
The American Express Gold Card is perhaps the most recognizable card in the credit card game. Opinions on it are somewhat split but there’s no denying it is one of the main cards that draw credit card users to AMEX.
Earns MR Points Quickly.
Great for Everyday Spending.
No Transaction Fees.
Above Average Annual Fee.
Best for Frequent Travellers.
AMEX Not Always Accepted.
Gold Card Rewards
The Gold Card works like most cards that offer reward points. You earn points for every dollar you spend.
- 4x at Supermarkets
- 4x at Restaurants
- 3x on Flights
- 1x on Everything Else
AMEX Membership Rewards points are redeemable for a variety of things but offer the best value for travel.
Credits & Insurance
Many premium credit cards offer credits in one form or another. The Gold Card’s nearly cover the annual fee.
- $120 Dining Credit
- $100 Airline Fee Credit
- Baggage Insurance
- Car Rental Insurance
Terms apply for everything but do it right and these benefits alone could give you a positive expected value.
Amex Perks
Many credit cards offer peripheral benefits that may add value for you. The Gold Card has one of the best lineups.
- The Hotel Collection
- The Travel Collection
- AMEX Offers
- AMEX Access & Preferred Seating
Most users probably don’t need these to get positive expected value from the Gold Card. But they are available.
Credit vs Charge Cards
American Express seems to be transitioning away from charge cards.
Over the years, many of their most popular cards have been charge cards, including the Gold Card.
“You can carry a balance with interest¤ on eligible charges of $100 or more, giving you more control over the amount you pay. When your payment is due, you can choose to pay your Account Total New Balance, the minimum due or any amount in between, with interest.‡”
My Favorite Gold Card Videos
My Top Three Credit Card Teachers
YouTube University is my go-to for credit card news and reviews. These three are my favorite creators in the credit card game.
Should You Choose the Gold Card?
Ask These Questions Before You Apply for the Gold Card
The AMEX Gold Card is not for everyone.
If you don’t value travel rewards, it’s probably a bad choice. There may also be better choices if you don’t spend much on dining or groceries. And it’s definitely not a good first credit card.
So the first question is obvious:
Where Are You on Your Credit Card Journey?
The American Express Gold Card is a mid-to-end game card for most people. It’s designed for higher spenders who value travel rewards. It’s not a good starter card. It’s an average churner card. But it’s a great keeper card, especially when you pair it with the AMEX Platinum.
What Is Your Expected Value for this Card?
The Gold Card has one of the steepest annual fees in the industry. So if you’re going to add it to your lineup, you need to make sure you’re going to be able to make the most of it. While food and travel benefits are great, for most users it’s about earning (and using) MR points.
Will You Get Approved for this Card?
You need a solid credit history for the Gold Card. A good relationship with AMEX doesn’t hurt either. Still, it’s not that hard to get approved for—despite the fact that many see it as a status symbol. Most sources say approval begins with credit scores in the high 600s or low 700s.
How Will You Use the Benefits for this Card?
To get the most value out of this card, you must value travel rewards and have a decent annual spend. Gold Card rewards are paid out in MR points, which are best redeemed for hotels and airfare. If you’re not interested in travel, it may be harder justify this card’s high annual fee.
Does This Card Fit in Your Credit Roadmap?
You need a plan if you want to maximize the value of your credit cards. That plan needs a goal, or a set of goals. The Gold Card is only a good choice for you if it helps you achieve those goals. This card works best for those who want to convert everyday spending into travel rewards.
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