The new Amex Gold Card—previously called the Premier Rewards Gold Card—was launched in fall 2018. With the relaunch came increased rewards and a higher annual fee. The new Amex Gold Card offers 35,000 points for spending $2,000 in 3 months, worth roughly $300, depending on how you redeem. That’s a 10,000-point increase from the old Premier Rewards Gold Card’s bonus. The new Amex Gold card’s $250 annual fee is $55 more than the older version charged and over 13 times the average for a credit card. Unlike the old version, the new Amex Gold card doesn’t waive its annual fee the first year, either.
The new Amex Gold card also has significantly higher ongoing earning rates in some spending categories than the old version. The card now gives 4 points per $1 spent at restaurants worldwide rather than 2 points per $1 spent at U.S. restaurants. And it gives 4 points per $1 on $25,000 spent annually at U.S. supermarkets, instead of the previous 2 points per $1.
Airfare rewards remained unchanged, at 3 points per $1 spent on airfare booked through an airline—though booking through American Express is now an option. The old Premier Rewards Gold card gave 3 points per $1 spent at gas stations, but the new Gold card doesn't list gas as a bonus category, meaning it earns the standard 1 point per $1 base rate.
If you use all the rewards it gives, the new Amex Gold card could be worth it. That’s especially true for foodies. In addition to 4X points on dining, the new Gold card offers up to $10 in statement credits monthly when you use the card at Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steakhouse, Boxed, and participating Shake Shack locations. That’s a nice addition to the new Gold card that didn’t come with the old one.
Frequent travelers will also enjoy the benefits that come with the new Amex Gold card, some of which are new or improved relative to the older model. For example, the new card offers $100 for spa trips and meals at select hotels, compared to the old PRG card’s $75.
Like the old Amex PRG card, the new Amex Gold card is a nontraditional charge card, in that you’re generally required to pay the balance off every month, but purchases of over $100 may qualify for a Pay Over Time option.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.