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American Express Gold Card Review & Comparison
There are two different cards that make up the American Express Gold Card line. Both are charge cards which require cardholders to pay their bills in full every month but the incentives and other pricing elements of the cards differ. Below are reviews of both American Express Gold Cards and how they differ.
American Express Gold Card
This is a rewards card that enables users to earn points on purchases through the Membership Rewards Program. These rewards points can be redeemed on various shopping, dining, entertainment and travel purchases; the points can also be transferred to frequent flyer miles with participating airlines. Here is a brief summary of the card and its appearance:
Key Benefits:
- There is no interest to be paid, as this is a charge card. Therefore, the user only has to pay their outstanding balance each month
- There is no annual fee to be paid in the first full year of activation
- Users have the opportunity to each 10,000 bonus points if they spend $500 or more within the first 3 months of activation. These points are redeemable with $100 gift cards.
- Users earn 1 point for each dollar spent annually.
- Users earn 2 points for each dollar spent on travel purchases on the American Express Travel website.
- Users can earn anywhere from 1-10 points purchasing items on the Membership Rewards site, which works in partnerships with 300 retailers.
- Members of the Rewards Program are given access to Gold Card Events, which include concerts, shows, sporting events, etc. Exclusive perks, upgrades and advantages are also available for members as well.
- Users will never have their points expire and there is no limit to points to be earned.
- The Purchase Protection Plan secures the user against accidental damage or theft of eligible purchases. This protection includes a refund up to $1,000 per occurrence and up to $50,000 per account in one policy year.
- Users have a 90-day return protection from the date of purchase. The purchase price will be refunded up to $300 per item and up to $1,000 annually per account.
The card is preferable for customers that have excellent credit and want no-limit spending. There are several advantages for users, in terms of rewards and benefits. Most notably though, the 10,000 potential rewards points for spending $500 in the first 3 months of membership is the ideal advantage of the card.
American Express Premier Rewards Gold Card
The Premier Rewards Gold Card in the American Express® portfolio is an extension of the Gold Card line. Whereas the Gold Card gives 1 point per dollar, the Premier Rewards Gold Card gives 3 points per dollar spent. This is the major difference between the cards, in spite of the fact that this rewards card has a higher annual fee than the Gold Card ($175 versus $125). The Premier Rewards Gold Card offers the same advantages of the Gold Card, in that points can be redeemed on various shopping, dining, entertainment and travel purchases in the Membership Rewards Program. Listed below is this offer and its summary as well as appearance:
Key Benefits:
- Each year, users can earn 15,000 bonus points for spending $30,000 per account year.
- There is no annual fee to be paid in the first full year of activation.
- Users have the opportunity to each 15,000 bonus points if they spend $1000 or more within the first 3 months of activation. These points are redeemable with $150 gift cards.
- There is no interest to be paid, as this is a charge card. Therefore, the user only has to pay their outstanding balance each month.
- Like the Gold Card, users earn 1 point for each dollar spent annually. However, unique to the Premier Rewards Gold Card is that users earn 3 points for each dollar spent on airfare, and 2 points for each dollar spent on groceries or gas.
- Users can earn triple points on purchases in the Membership Rewards Bonus Points Mall Shop.
- Users can redeem rewards points for frequent flyer programs or airfare by using Pay with Points at American Express Travel.
- Users will never have their points expire and there is no limit to points to be earned.
- The Purchase Protection Plan secures the user against accidental damage or theft of eligible purchases. This protection includes a refund up to $1,000 per occurrence and up to $50,000 per account in one policy year.
- Users have a 90-day return protection from the date of purchase. The purchase price will be refunded up to $300 per item and up to $1,000 annually per account.
- Members of the Rewards Program are given access to Gold Card Events, which include concerts, shows, sporting events, etc. Exclusive perks, upgrades and advantages are also available for members as well.
The American Express Premier Rewards Gold Card is for customers that have excellent credit and spend more than $30,000 per year. Therefore, if customers use their cards enough to warrant an upgrade to the Premier Rewards Gold Card, it is well worth the advantages. The most important difference between the two cards is that users are given 3 rewards points for every dollar spent on anything. Although it is $50 more per year in annual fees, the rewards will outweigh the fees if the card is used enough.
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