May 26, 2024
Is The Amex Gold Card Worth It

Is The Amex Gold Card Worth It

Is The Amex Gold Card Worth It? American Express® Gold Card is a premium rewards card that offers numerous benefits to its cardholders. It comes with a variety of features that make it stand out from other cards in the market. In this blog post, we will take a detailed look at the pros and cons of the American Express® Gold Card, its requirements, minimum credit limit, and whether it is worth it.

American Express® Gold Card Overview:

The American Express Gold Card is a premium credit card that offers numerous perks and benefits to its users. This card is designed for frequent travelers and diners, and it provides rewards for every dollar spent on eligible purchases.

Pros and Cons:

Pros of American Express® Gold Card

  1. Generous Welcome Bonus: The American Express® Gold Card offers a generous welcome bonus of up to 60,000 Membership Rewards points after spending $4,000 in the first six months of account opening.
  2. High Rewards Rate: The card earns four Membership Rewards points per dollar spent at restaurants worldwide and U.S. supermarkets (up to $25,000 per year), and three points per dollar spent on flights booked directly with airlines or on amextravel.com.
  3. Valuable Rewards Program: The Membership Rewards program offers great redemption options, including travel, gift cards, merchandise, and statement credits.
  4. Annual Credits: The card offers $120 annual dining credits, which can be used at participating restaurants such as Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed, and participating Shake Shack locations. Also, the card offers a $100 airline fee credit, which can be used towards incidental fees charged by the airline, such as baggage fees, seat upgrades, and in-flight purchases.
  5. Travel Protections: The card offers travel protections such as a baggage insurance plan, car rental loss and damage insurance, and a global assist hotline.
  6. No Foreign Transaction Fees: The card does not charge foreign transaction fees, making it an excellent choice for international travelers.
  7. Personalized Design: The American Express® Gold Card offers a unique design, including a metal finish and an option to choose between a traditional gold or rose gold color.

Cons of American Express® Gold Card

  1. High Annual Fee: The card comes with a high annual fee of $250, which may not be worth it for some cardholders.
  2. Limited Airline Transfer Partners: The Membership Rewards program has limited airline transfer partners compared to other programs.
  3. Limited Acceptance: American Express is not as widely accepted as Visa or Mastercard, making it challenging to use the card in some places.

Amex Gold vs Platinum

The American Express® Platinum Card is a higher-end version of the American Express® Gold Card, offering more premium benefits and features. The Platinum Card has a higher annual fee of $695, but it also offers more perks, including airport lounge access, Uber credits, and hotel elite status. The Amex Gold Card is more focused on everyday spending and dining rewards, making it an excellent choice for those who want to earn points on their daily purchases. The decision between the two cards ultimately comes down to personal preferences and spending habits.

Here are some key differences between the American Express Gold Card and the American Express Platinum Card:

  1. Annual Fee: The American Express Platinum Card has a higher annual fee of $695 compared to the American Express Gold Card’s $250.
  2. Rewards: The American Express Platinum Card offers 5X points per dollar spent on flights booked directly with airlines or on amextravel.com, whereas the American Express Gold Card only offers 3X points per dollar spent on the same category.
  3. Welcome Bonus: The American Express Platinum Card offers a higher welcome bonus of 100,000 Membership Rewards® points after spending $6,000 on eligible purchases with their new card within the first 6 months of card membership, compared to the American Express Gold Card’s 60,000 Membership Rewards® points.
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Amex Gold Card Requirements

To be eligible for the American Express® Gold Card, you must have a good to excellent credit score (typically 700 or higher). You must also be at least 18 years old, a U.S. citizen or resident, and have a valid social security number. Applicants must meet the following requirements:

  • Good to excellent credit score
  • No history of bankruptcy in the past 7 years
  • At least 18 years of age

American Express Gold Card Minimum Credit Limit

The minimum credit limit for the American Express® Gold Card is not publicly disclosed. However, it is typically in the range of $1,000 to $5,000, depending on your creditworthiness.

American Express Gold Card Limit

The American Express Gold Card limit may vary depending on the issuer and the individual’s creditworthiness. The card issuer will typically determine an individual’s credit limit based on factors such as their credit history, income, and debt-to-income ratio. Cardholders can typically request a credit limit increase after several months of responsible use of the card. However, it’s important to note that requesting a credit limit increase may result in a hard inquiry on the individual’s credit report, which can temporarily lower their credit score.

Is the Amex Gold Card Worth It Reddit?

The Amex Gold Card has received mixed reviews on Reddit. Some users believe that the card is worth it for its high rewards rate, annual credits, and travel protections, while others think that the high annual fee is not justified. Ultimately, the value of the Amex Gold Card depends on your spending habits and whether you can take advantage of the card’s benefits to outweigh the annual fee.

Is the Amex Gold Card Worth It UK?

The American Express® Gold Card is available in the UK and offers similar benefits to the US version. However, the rewards rate and annual fee may differ, so it’s essential to check the UK-specific terms and conditions before applying. Whether the Amex Gold Card is worth it in the UK depends on your spending habits and whether you can maximize the card’s benefits to outweigh the annual fee.

Is the Amex Delta Gold Card Worth It?

The American Express® Delta Gold Card is a co-branded airline rewards card that offers benefits such as free checked bags, priority boarding, and Delta Sky Club access. The card also earns miles on Delta purchases and everyday spending. Whether the Amex Delta Gold Card is worth it depends on how often you fly with Delta and whether you can maximize the card’s benefits to outweigh the annual fee.

Is the Amex Rose Gold Card Worth It?

The American Express® Rose Gold Card was a limited edition version of the Amex Gold Card that was available for a limited time. It offered the same benefits as the Amex Gold Card but had a unique rose gold color option. Whether the Amex Rose Gold Card was worth it depended on personal preferences and whether the unique design was worth the extra cost.

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Is It Worth Keeping Amex Gold Card?

Whether it’s worth keeping the Amex Gold Card depends on your spending habits and whether you can take advantage of the card’s benefits to outweigh the annual fee. If you frequently dine out and shop at U.S. supermarkets, the card’s rewards rate can be highly beneficial. Additionally, the annual credits and travel protections can provide significant value. However, if you don’t spend enough to justify the annual fee or don’t take advantage of the card’s benefits, it may not be worth keeping.

Is the Amex Gold Card Good?

The American Express® Gold Card is an excellent rewards card for those who frequently dine out and shop at U.S. supermarkets. The card offers a high rewards rate and valuable benefits such as annual credits and travel protections. However, the high annual fee may not be worth it for everyone, and the limited airline transfer partners and acceptance may be drawbacks for some.

Should I Keep My Amex Gold Card?

Whether you should keep your Amex Gold Card depends on your spending habits and whether you can take advantage of the card’s benefits to outweigh the annual fee. If you frequently dine out and shop at U.S. supermarkets and can maximize the card’s rewards rate and benefits, it may be worth keeping. However, if you don’t spend enough or don’t take advantage of the benefits, it may be better to cancel or downgrade to a different card.

Is American Express Gold Card Worth It?

Whether the American Express® Gold Card is worth it depends on your spending habits and whether you can maximize the card’s rewards rate and benefits to outweigh the annual fee. If you frequently dine out and shop at U.S. supermarkets and can take advantage of the card’s annual credits and travel protections, it can provide significant value. However, if you don’t spend enough or don’t take advantage of the benefits, the high annual fee may not be worth it.

How Much to Spend on Amex Gold to Make It Worth It?

The amount you need to spend on the American Express® Gold Card to make it worth it depends on your spending habits and how much you can take advantage of the card’s rewards rate and benefits. For example, if you frequently dine out and shop at U.S. supermarkets, you can earn a high rewards rate and easily earn enough rewards to outweigh the annual fee. Additionally, if you can maximize the card’s annual credits and travel protections, you can further increase the value of the card. It’s important to calculate your estimated spending and rewards earnings to determine whether the Amex Gold Card is worth it for you.

What is Amex Gold Card Good For?

The American Express® Gold Card is an excellent rewards card for those who frequently dine out and shop at U.S. supermarkets. The card offers a high rewards rate and valuable benefits such as annual credits and travel protections. Additionally, the card is good for those who want to earn points for airline travel and hotel stays through Amex’s transfer partners. The card also has no foreign transaction fees, making it a good option for international travelers.

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Do I Have to Pay My Amex Gold Card in Full?

It’s recommended to pay your American Express® Gold Card balance in full each month to avoid interest charges. However, if you cannot pay the full balance, you must make at least the minimum payment by the due date to avoid late fees and negative marks on your credit report.

What Are the Benefits of the Amex Gold Card?

The American Express® Gold Card offers several benefits, including:

  • 4x points at U.S. supermarkets (up to $25,000 per year)
  • 4x points at restaurants worldwide
  • 3x points on flights booked directly with airlines or through amextravel.com
  • $120 annual dining credit
  • $100 annual airline fee credit
  • No foreign transaction fees
  • Baggage insurance plan
  • Trip delay insurance
  • Car rental loss and damage insurance

Why Get Amex Gold Card?

The American Express® Gold Card is a great option for those who frequently dine out and shop at U.S. supermarkets. The high rewards rate on these categories can easily earn you enough points to make up for the annual fee. Additionally, the annual dining and airline fee credits can further offset the fee and provide significant value. The card also offers valuable travel protections and no foreign transaction fees, making it a good option for international travelers.

Does Amex Gold Card Have an Annual Fee?

Yes, the American Express® Gold Card has an annual fee. The current annual fee is $250 (as of September 2021). However, the card offers several benefits, including a high rewards rate, annual credits, and travel protections, which can help offset the annual fee and provide significant value.

Amex Gold Card Annual Fee Waived

The American Express® Gold Card annual fee is not typically waived. However, there may be limited-time offers or promotions that waive the annual fee for the first year. Additionally, if you’re a military servicemember, American Express may waive the annual fee or provide other benefits.

Is the Amex Gold Card Hard to Get?

The American Express® Gold Card has a certain credit score and income requirements, but it’s not necessarily hard to get if you meet the criteria. American Express typically looks for a credit score of at least 700 and a steady income. Additionally, having a good credit history and a low debt-to-income ratio can increase your chances of approval. However, approval is not guaranteed, and other factors, such as recent credit inquiries or negative marks on your credit report, can also impact your application.

Conclusion

In conclusion, the American Express® Gold Card is a high-value rewards credit card that offers a high rewards rate on dining and U.S. supermarket purchases, along with valuable benefits such as annual credits and travel protections. The card is best suited for those who frequently dine out and shop at U.S. supermarkets, and who can maximize the card’s annual credits and travel protections. While the card has an annual fee, the rewards, and benefits can easily offset the fee for those who can earn enough rewards to make up for it. As with any credit card, it’s important to calculate your estimated spending and rewards earnings to determine whether the Amex Gold Card is worth it for you.