American Express Gold Card Review

The Amex Gold card annual fee is $250. This card's annual fee is higher than the average annual fee among new credit card offers right now. It's not the only fee you need to worry about with the American Express® Gold Card, either.

Amex Gold card Fees

• Annual Fee: $250
• Cash Advance Fee: 5% (min $10)
• Foreign Transaction Fee: 0%
• Max Late Fee: $40

Keep in mind that an annual fee is a common charge with high-tier rewards cards. This card offers 60,000 points for spending $4,000 in the first 6 months. Plus, you can earn 4 points per $1 at U.S. supermarkets (up to $25,000 spent per year), 4 points per $1 at restaurants worldwide (plus takeout and delivery in the U.S.), 3 points per $1 on flights booked directly with airlines or on amextravel.com, and 1 point per $1 on all other purchases.

So, American Express charges an annual fee for this card to help offset the cost of these perks.

Yes, the Amex Gold card is a metal card. New Amex Gold card applicants don't need to specify that they want a metal card, either – it's standard.

It's worth noting that regardless of its name, the Amex Gold card is not made of gold. But it is worth quite a bit in ongoing rewards. Cardholders get an initial bonus of 60,000 points for spending $4,000 in the first 6 months. Plus, this card gives 4 points per $1 at U.S. supermarkets (up to $25,000 spent per year), 4 points per $1 at restaurants worldwide (plus takeout and delivery in the U.S.), 3 points per $1 on flights booked directly with airlines or on amextravel.com, and 1 point per $1 on all other purchases. There are also annual credits for dining and airline charges, which, together, help offset the Amex Gold card's $250 annual fee.

The Amex Gold card APR is 19.74% - 26.74% (V) on purchases approved for the Amex Pay Over Time feature. For all other purchases, there is no regular APR. That this because the Amex Gold card is a hybrid between a charge card and a regular card and cardholders are generally not allowed to carry a balance from one month to the next. 

Cardholders who do not use the Pay Over Time may instead use the Plan It feature. This feature allows you to select large, eligible purchases and split them into monthly payments with a fixed fee.

There are a few things you should know about the Amex Gold card Pay Over Time feature, such as:

• Pay Over Time allows Amex Gold card cardholders to finance eligible purchases over a specified timeframe, and for a set fee, subject to Amex's approval. 
• The exact interest rate applied to Pay Over Time purchases will depend on the cardholder's credit score, annual income, the number of open accounts, and other factors.
• Purchase amounts in the Pay Over Time balance will also be subject to a monthly fee of up to 1.33%, based on the plan duration.

The Amex Gold card also has other APRs you should be aware of. It may charge a penalty APR of up to 29.99% for late Pay Over Time payments. Also, if you take out a cash advance using the Amex Gold card, a separate interest rate of 28.99% (V) will apply. Interest charges on cash advances accumulate daily, starting on the date you withdraw the cash.

Amex Gold points are worth $7.7 per 1,000 points, on average – below the average credit card point value of 1 cent per point. The highest value cardholders will get from Amex Gold points is 1 cent per point, when redeeming them for New York City taxis, gift cards, or flights booked directly with airlines or via the Amex travel portal. On the other hand, the lowest-value ways to use these points include erasing previous Amex Gold purchases ($0.006 per point), buying event tickets from Ticketmaster ($0.005 per point), and shopping with Amex merchant partners ($0.005 per point).

Just because Amex Gold's points are worth less than a cent apiece on average doesn't mean they aren't worth earning, especially if you can get a ton at one time. New Amex Gold cardholders can earn 60,000 points by spending $4,000 in the first 6 months after account opening, which will pay for the card's $250 annual fee the first year. Amex Gold's ongoing rewards aren't too shabby either, especially for foodies.

To get the Amex Rose Gold card, you have to apply for the American Express® Gold Card and request a Rose Gold version. If you are already an Amex Gold cardholder, you just have to request a new card be sent to you in the Rose Gold shade. Requesting the color is quick and easy — simply call the number on the back of your card to get connected with a customer service representative and let them know you would like to exchange your existing Amex Gold card for the Rose Gold version. Alternatively, use the online chat function from your online account.

No matter what shade you choose, you can get all of the Amex Gold card's incredible benefits, from high earning rates to a huge initial bonus of 60,000 points once you spend $4,000 in the first 6 months. You also receive annual Uber Cash benefits, as well as monthly statement credits when you dine at certain restaurants. The Amex Gold card also offers extensive ongoing rewards: 4 points per $1 at U.S. supermarkets (up to $25,000 spent per year), 4 points per $1 at restaurants worldwide (plus takeout and delivery in the U.S.), 3 points per $1 on flights booked directly with airlines or on amextravel.com, and 1 point per $1 on all other purchases.

All of those excellent rewards do come at the cost of a $250 annual fee, so it's important to weigh the worth of those rewards against the cost of the card. The Amex Gold card requires good credit or better (a credit score of 700+) for good odds of approval. You can also check for pre-qualification online. Keep in mind that pre-qualification indicates that you have good odds of approval, but it does not guarantee it.

The Amex Gold card dining credit gives cardholders up to $120 per year in statement credits for purchases with Grubhub, Shake Shack, The Cheesecake Factory, and other participating merchants. The first $10 in qualifying purchases made each month will be covered by the Amex Gold card dining credit. Keep in mind that you must enroll your card to use this benefit and receive the credit. Dining credits post to the account within 6-8 weeks after qualifying purchases are made.

Key Things to Know About the Amex Gold card Dining Credit

• What it is
  Cardholders earn up to $10 in monthly statement credits (annual savings of up to $120) when ordering from participating partners.
• Participating partnersGrubhub, The Cheesecake Factory, Goldbelly, Wine,com, Milk Bar, and select Shake Shack locations (excluding Shake Shack locations in ballparks, stadiums, airports and racetracks).
• How to get it
  The primary cardholder or an authorized account manager must enroll in the benefit for the account to be eligible for the credits. You can enroll online, through the Amex mobile app or over the phone.
   
  Online: Log in to your account, click “Rewards & Benefits” then “Benefits.” Find the box that says “$120 Dining Credit” and click “Enroll Now.”
   
  Through the mobile app: Download the Amex mobile app and log in using your credentials. Tap “Explore All Card Benefits” from the “Membership” menu and tap on “$120 Dining Credit.”
   
  Over the phone: Call (800) 528-4800 or the number you see on the back of your card. When prompted, say “dining credit” and then give your card number. You will then be connected to a live representative who should be able to help you with your request.
• Eligibility
  Once the Amex Gold card is enrolled, purchases from both the primary cardholder and authorized users qualify for the dining credit, but all cardholders on a single account must share the limit of $10 per month in credits.
• When you get it
  Dining statement credits typically post to your Amex Gold card account 6-8 weeks after an eligible purchase is charged.

It's also worth noting that, apart from the dining credit, the Amex Gold card also offers lots of rewards, especially on travel and dining purchases.

Amex Gold card Rewards

The Amex Gold card dining credit is worth it, when properly utilized. Combined with the rewards cardholders earn on purchases, the dining credit can help offset the Amex Gold card's $250 annual fee.

Yes, it is hard to get the American Express® Gold Card because it requires at least good credit for approval. Unless your credit score is 700 or higher and you have a lot of income, it will be very hard for you to get approved for the Amex Gold card.

In order to get the Amex Gold card, you will have to meet the credit score requirement, have a steady income and be at least 18 years old. You'll also need to have an SSN or ITIN.

Keep in mind that even if you meet all of the requirements for the Amex Gold card, you're never guaranteed to be approved.

The main Amex Gold card requirements for approval are having a credit score of at least 700, being at least 18 years old, and being a U.S. citizen or permanent resident. Amex Gold card applicants must also provide a Social Security number, Individual Taxpayer Identification Number or passport. Another major requirement is a steady income. American Express does not disclose a specific income requirement, but it will need to be enough to make payments on the card and to afford the $250 annual fee.

More info about Amex Gold card requirements:

Amex doesn't openly state any other Amex Gold card requirements, but there are plenty of other factors that Amex considers during the approval process. The amount of existing debt you have, the number of accounts you have open, and the number of recent hard inquiries on your credit report are among those factors. Amex looks at your entire financial profile when making a decision.

One way to get a better idea of whether you meet the Amex Gold card requirements is to use Amex's pre-qualification tool. Just put in a few personal details and Amex will show you all cards they think you'd likely be approved for. This pre-qualification process won't impact your credit.

The Amex Gold card has no preset spending limit, which means the spending power is determined on a month-to-month basis, depending on the cardholder's previous spending habits, income, payment history and other factors. This does not mean that consumers are able to spend limitlessly with a no preset spending limit. Amex Gold cardholders are given a flexible spending capacity, rather than a specific one.

More info about the Amex Gold card NPSL

While not having a preset spending limit (NPSL) can offer you some flexibility, it can be difficult in emergency situations. You can know roughly what you're able to spend based on past months, but with most NPSL cards, you never know exactly when a future purchase will be declined. 

American Express makes it easier to plan for future purchases, though. If you're unsure whether a large purchase will be approved or not, simply use the Check Spending Power tool in your online account or mobile app. 

Alternatives to No Preset Spending Limit

If you'd rather get a card with a set credit limit, some good rewards card options from Amex include the Amex Cash Magnet Card, Blue Cash Preferred® Card from American Express and the Blue Cash Everyday® Card from American Express.

The best Amex Gold card benefits are trip delay insurance and baggage insurance. The American Express® Gold Card also has extended warranty and purchase protection, which are more common perks across American Express credit cards.

Amex Gold card Benefits

• Trip delay insurance
• Baggage insurance
• Extended warranty
• Purchase protection
• Lowest hotel rates guarantee
• Instant card numbers
• Global Assist (an emergency card  assistance hotline)
• An annual dining credit
• Free ShopRunner membership (for free shipping with participating online merchants; enrollment required)

Along with these benefits, the Amex Gold card has a $250 annual fee and gives rewards on all purchases. As long as you have good credit, the American Express® Gold Card is certainly a card to consider adding to your wallet.