Credit Card Reviews
American Express Gold Card Review
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In September of 2019, I leaped into the world of premium rewards cards when I applied for the American Express Platinum card. During the following months, I continually looked at the American Express Gold card as a potential companion to my newly-acquired card, but eventually disabused myself of that idea because I wasn’t sure that I’d be able to make full use of its perks. Eventually, an enhanced welcome bonus along with new benefits on the Gold card got me to change my tune. However, bringing things full circle, more updates to the Gold Card have once again changed the value proposition.
So what does the Amex Gold card have to offer, how has it benefited my wallet over these past few years, and is it worth keeping following the latest updates? Let’s take a closer look at the American Express Gold card.
American Express Gold Card
American Express Gold Card Review: Great Rewards if the Credits Make Sense
3.5
Annual fee
$325
Rewards
4x points at restaurants worldwide (up to $50,000 per year), 4x points at U.S. supermarkets (up to $25,000 per year), 3x points on flights booked directly with airline or via Amex Travel, 2x points on prepaid hotel, rental car, and cruise bookings via Amex Travel, 1x points on all other purchases
Credits
$10 a month in Uber Cash, $10 a month Dining Credit (Grubhub, Seamless, The Cheesecake Factory, Goldbelly, Wine.com, Five Guys), $7 a month for Dunkin’, $100 a year ($50 semi-annually) for Resy restaurants
A Solid Standalone or Awesome as Part of an Amex Setup
(Previously rated 4.5 stars). Offering 4x Membership Rewards points at restaurants as well as 4x at U.S. Supermarkets, the American Express Gold Card is definitely a workhorse of the Amex line up. What’s more, the $325 annual fee can be heavily offset by the credits it offers. However, like other American Express cards, the value of the Gold card will be highly dependent on your ability to utilize their credits for their full value. Moreover, the monthly Dining Credit is far more limited than the generic name would imply and the Dunkin’ credit may be a miss for some cardholders. With that said, those who can make good use of these credits will find the Gold Card to be a rewarding option on its own or used in tandem with the Amex Platinum while others may find the $325 fee hard to swallow even with the credits.
Pros
- 4x at restaurants and at U.S. supermarkets
- Monthly Uber, dining credits, and more offset annual fee
- Compliments Amex Platinum card or works well solo
Cons
- $325 annual fee is high if credits aren’t utilized
- Membership Rewards points offer low cashback redemption value
What You Need to Know About the American Express Gold Card
Annual fee
Like many of Amex’s premium cards, the Gold card does carry an annual fee. In this case, the card now comes at a cost of $325 per year. Notably, this new fee (effective for new cardholders as of July 2024) is up from the previous fee of $250. This total will added to your first bill and is then paid each year on the month of your cardmember anniversary.
While $325 is like a lot to pay just to add a card to your wallet, as we’ll explore, there are numerous perks and rewards that can help offset this cost and hopefully even allow card members to see positive value.
Welcome bonus
Speaking of positive value, new cardmembers can get off to a good start thanks to the lucrative welcome bonus associated with the Gold card. As of this writing in August 2024, new cardholders can earn 75,000 Membership Rewards points after they spend $6,000 on the card in their first six months. On top of that, new cardholders can earn 20% back on restaurant purchases made in their first six months, up to a total of $100 back. This part of the bonus will be paid as statement credits on eligible purchases.
Two (or three) color options
Once upon a time (a few years back), when Amex refreshed the Gold card, it marked the occasion by offering a “limited edition” Rose Gold version of the card. Since then, this trendy hue has been sought after by those who missed out. Well, in February 2021, American Express brought back the Rose Gold card — and it seems that it will remain an option for the foreseeable future. Plus, for the most recent refresh, it also introduced the new White Gold variant. This version is being billed as a “limited edition,” but it’s unclear exactly how long it will stick around for.
To be clear, the Gold card, Rose Gold card, and limited edition White Gold card have identical perks, annual fees, etc. and are considered the exact same product. But, when you apply for the card, you now have the option to choose which of the three colors you prefer.
Charge card? Credit card?
Something else that needs to be addressed in regards to the Gold card is how it compares to a traditional credit card. While the product had long been considered a charge card (meaning you’d need to pay off the full balance each month), now, the Pay Over Time feature adds more flexibility. As a result, it’s no longer a charge card… but also isn’t a normal credit card either.
With Pay Over Time, cardholders can choose to pay off purchases of $100 or more across multiple months. Choosing this option will result in customers paying interest for those purchases. Meanwhile, if a transaction is under $100, card members will need to pay it off at the end of the billing cycle.
Despite this move, the Amex Gold card still does not have a set credit limit (except for a Pay Over Time limit). Yet, this doesn’t mean that users have unlimited credit. To see if your planned purchase will be accepted, card members can try the Check Spending Power tool found on the Amex app or site.
Membership Reward Points multipliers on the Gold card
Now we get to the fun part: the rewards. To me, the biggest points-earning draw of the Gold card are the multipliers it puts on eligible dining and supermarket purchases. With the card, you can earn 4x points at restaurants including takeout and delivery (now capped at $50,000 in category spending per calendar year) as well as 4x points at U.S. supermarkets (up to $25,000 in category spending per calendar year). Additionally, cardmembers can earn 3x points on flights booked either directly through the airline or via Amex Travel and 2x points on prepaid hotel bookings, rental car purchases, and cruises booked through Amex Travel. All other purchases with the Gold card will earn one point per dollar spent.
Credits and other perks
Beyond those key point multipliers, the American Express Gold card also includes a number of credits and perks that add to its value. Starting with the newest benefits, Gold cardholders can now earn up to $100 back on purchases at eligible Resy restaurants. This credit is divided by the calendar year, with $50 applying to purchases made from January through June and the other $50 available from July through December.
Another new credit comes from Dunkin’. Now, Gold cardmember can earn up to $7 a month in statement credits for purchases at Dunkin’ locations — for a total perk value of $84 per year. Note that Dunkin’ orders placed via delivery apps as well as purchases made at locations found in other establishments (such as gas stations) may not qualify. Additionally, gift card purchases made online are not eligible.
Prior to these updates, the newest addition to the Gold card was $10 a month in Uber Cash, which can be used for rides or Uber Eats orders. To activate this perk, you’ll just need to add your Gold card to your Uber account. Then, the $10 should show up on the first of each month. Be aware that, like with many of the credits we’ll discuss, this one is “use it or lose it,” meaning that your Uber Cash will not roll over to the next month.
Additionally, the Gold card also still offers a $10 a month Dining Credit — which has also seen some minor updates for 2024. These monthly statement credits (which are also “use it or lose it) can be earned by making purchases at:
- Grubhub
- The Cheesecake Factory
- Goldbelly
- Wine.com
- Five Guys
While Milk Bar and Shake Shack previously participated in this dining credit program, both will officially be removed as of September 26th (which is why Amex is no longer promoting them). Five Guys is the latest addition to the list, joining in July 2024.
In total, Amex advertises that the Gold Card features more than $400 in credit — $424 to be exact. For a card that has an annual fee of $325, that might sound like you’re immediately making money. Of course, whether or not that’s true will depend on how likely you were to make these credited purchases in the first place.
Amex Travel and Hotel Collection
Lastly, another benefit of the Gold card that I want to point out is the Hotel Collection. Similar to the Fine Hotels & Resorts program that’s exclusive to American Express Platinum and Centurion cardholders, the Hotel Collection allows customers to enjoy notable perks when booking stays of two consecutive nights or more at select properties. These amenities include $100 onsite property credit, room upgrades when available, and more. Plus, when prepaying for these stays, Gold cardholders will earn 2x points.
Even though I wasn’t a Gold member at the time, I previously booked a stay at a Hotel Collection property in Chicago. Having the $100 property credit proved to be a great perk as it allowed us to dine at the hotel’s restaurant, charge the meal to the room, and have it comped when we checked out. Also, having used both the Fine Hotels & Resorts program as well as the Hotel Collection, I’ll note that those in the latter program tend to be a bit more affordable on the whole. Because of this, I’m a big fan of the Hotel Collection and see it as an underrated Gold card perk — especially if you don’t also have a Platinum card already.
My Experience with the Gold Card So Far
My thoughts on the latest credits
Most of this article was written soon after I got the Gold Card in 2021 — but this section was penned fresh in 2024. First, while the Dunkin’ credit will be easy enough for me to use (there is a location not even a mile from my house), I can’t say I would be spending $7 a month there if it weren’t for this credit. Therefore, I also wouldn’t value this particular perk at $84.
Meanwhile, the Resy credit would be great… if there were any participating Resy restaurants in my area. The good news is that, by making this a semi-annual credit, there’s a decent chance I’ll be able to use the credit while traveling. Still, it makes the $100 credit feel like a chore.
That welcome offer
When I first saw that Amex had a 60,000 welcome bonus offer for the Gold Card, I was definitely intrigued. Not only was this a big step up from the then-typical 35,000 point offer but also extended the amount of time you have to meet the minimum spend from three months to six months. While I may have been able to spend $4,000 on the card in 90 days, it’d honestly be a bit of a stretch without any major expenses or travel to book. Therefore, I definitely appreciated the extra time.
As for this latest offer, the number of bonus points has climbed even higher to 75,000 — not to mention the up to $100 statement credit on restaurant purchases. Of course, the minimum spending amount has also gone up and now comes in at $6,000. But, at least cardholders do have six months to reach this amount.
Stacking Uber credits
As enticing as my offer was, I was still a bit hesitant to sign up for the Gold card until I learned about the added Uber Cash benefit. Seeing as I already earn $15 a month in Uber Cash from my Platinum card and have mostly been using these credits for Uber Eats orders, I was confident that I’d be able to make use of an additional $10. Well, I’m happy to report that these two benefits stack beautifully as I had $25 in Uber Cash this month between the two cards. Just as I had hoped, this sum was easy to use in one fell swoop with no issue.
Quickly earning rewards
In the short amount of time since I added the Gold card to my rewards card strategy, I’ve definitely seen my point-earning accelerate. Between the two 4x categories, I’ve found it easy to rack up Membership Rewards — much more so than with just the Platinum. Of course, this makes perfect sense since both of the Plat’s 5x categories are travel-oriented and, well, that hasn’t been happening. In that aspect, while I think the Platinum’s perks make it a great pick, the Gold card is really a points workhorse. Thus, when put together, there’s a lot of power and value there.
Switching from Gold to Rose Gold
Upon seeing the Rose Gold had returned, I sent a message to Amex using their online chat feature. Although I initially got an auto response saying that Rose Gold had been discontinued, I soon got a real agent who took care of everything in seconds. According to them, my account number will remain the same and I’ll have the option to switch back to regular Gold in the future should I so choose.
Seeing as Rose Gold has stuck around, I do feel a bit silly about the immediacy with which I ordered my new card. What’s more, with the White Gold variant now available and being billed as “limited edition,” I’m pondering whether it’s worth picking one up.
In any case, if you do choose one color card and have regrets, it’s nice to know that you can always request a change.
Adding an authorized user
Finally, when I opened my Gold card account, I decided to make my wife an authorized user off the bat. This experience was a bit different from when I added her to my Platinum account. If you’ll recall, while Platinum customers can add free authorized users that don’t really do a whole heck of a lot. Meanwhile, to get them a metal Platinum card of their own, you’ll need to pay $195 for each. In any case, with the Gold card, you can add authorized users for free and they’ll receive a metal card that looks just like yours.
At first, I was a bit surprised by this. Yet, upon further reflection, it actually does make sense to me. Since your authorized users won’t earn any credits, their card will basically just allow them to make purchases and earn points for you. Despite this, it’s a nice option to have and I think it’s fairly generous of Amex to also give AUs metal cards instead of downgrading them to plastic.
Incidentally, when I did make the switch to Rose Gold, I was informed that any of my authorized users would also be issued a Rose Gold card. Therefore, if your loved one has a color preference, be aware that you’ll end up with that choice as well.
Final Thoughts on the American Express Gold Card
Ever since I got the American Express Gold Card, I’ve been excited about it and have frequently sung its praises. Despite the $250 annual fee (at the time), I felt as though the credits and rewards made it worth it. Unfortunately, I’m not as sure that this will be the case going forward.
Even though Amex has now added $184 in new credits to the Gold Card while raising the annual fee by “just” $75, I don’t feel as though these Dunkin’ or Resy credits will make sense for me. Therefore, at this time, I am considering either canceling or downgrading to the Green card when my renewal comes around. That said, ahead of that, I will have a chance to try out these new credits as they’re already available to all cardholders.
For those who would already be spending on Dunkin’, at Resy restaurants, on Uber/Eats, and at the participating Dining Credit locations, the American Express Gold Card might still be a great option even with the $325 annual fee. However, those who are on the fence about making the most of the credits may want to consider something else — such as the no-annual-fee Capital One SavorOne, which earns 3% back on dining and 3% back on groceries among other rewards. While this option might not be as “sexy” as the Gold Card, it may ultimately be a better value for most.
“Fioney has partnered with third party sites for our coverage of credit card products. Fioney.com and the third party sites may receive a commission from card issuers.” (Note: advertising relationships do not have any influence on editorial content. Advertising compensation allows Fioney.com to provide quality content for free. All editorial opinions are those of the individual author and/or Fioney staff.)
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