Tuesday, January 18, 2022

American Express Gold Review: Deals That are Worth Your While

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The American Express® Gold Card is exceptional whether you’re dining out or shopping for groceries at U.S. supermarkets. You will also save more money throughout the year by taking advantage of its various statement credits. In addition, the Amex Gold card is looking better than ever, thanks to an enticingly high welcome offer.

It has an annual fee of $250. However, there are plenty of other rewards and perks, making this Card a lot more valuable.

The first is its exceptional earning rates, including bonuses of 4 points per dollar at restaurants, takeout and delivery, and up to $25,000 in purchases at U.S. supermarkets per year, then 1 point per dollar. The Card also provides a variety of statement credits, which is very beneficial to food enthusiasts to help offset the annual fee.

Its current enhanced welcome offer of 60,000 Membership Rewards points after spending $4,000 on the Card in the initial six months of purchasing the card membership.

So who is this Card for?

If you’re a food lover who frequently eats out (or orders in), this Card is a no-brainer. This is since it earns 4 points per dollar spent at restaurants, including takeout and delivery through services such as Grubhub or Seamless. Likewise, if you like to cook at home, this Card earns 4 points for every dollar you spend at U.S. Supermarket calendar purchases up to $ 25,000 per year (then 1 point per dollar). There are a number of bonus Amex membership gifts that you can use for travel and other purposes.

After enrolling their Card, cardholders will also obtain up to $120 in yearly statement credit, with up to $10 per month, toward dining and up to another $120 in Uber Cash ($10 per month) toward U.S. Uber rides UberEats orders. Together, these factors reduce the out-of-pocket cost of the Card’s $250 annual fee to less than $10.

In short, the Amex Gold is ideal for anyone looking to maximize their everyday spending for excellent rewards while also benefiting from statement credits for things like dining out from restaurants or even taxi rides.

The valuable welcome offer

American Express Gold Card is currently offering a generous 60,000 gift bonus after spending $ 4,000 on eligible purchases within the first six months with your new card.

Perks offered

  • Up to $120 yearly dining statement credit: Earn up to $10 in monthly statement credits when you use your Amex Gold Card to pay at participating dining partners such as Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, some Shake Shack locations, and Boxed. Signup must be done through the Amex website.
  • Up to $120 in Uber Cash per year: Earn up to $10 in Uber Cash each month for Uber Eats, and Uber rides in the United States. To receive the Uber Cash benefit, you must first add the Card to the Uber app. This benefit is a monthly statement credit, similar to Uber Cash on American Express’s Platinum Card®. It is necessary to enrol.
  • Cardmembers who use their Card to reserve a two-night or more extended stay through American express, The Hotel Collection acquires a $100 on-site credit for qualifying activities. This also comes with dining, spa treatments, or other activities, depending on the property.
  • There are no foreign transaction fees: This Card is ideal for carrying abroad and using for purchases when travelling internationally
  •  because it avoids foreign transaction fees.
  • Insurance coverage for baggage: If your luggage is lost, stolen, or damaged while travelling with a standard general carrier and you purchased your ticket with the Amex Gold, you’ll be eligible for up to $1,250 in carry-on baggage coverage and up to $500 in checked baggage coverage.
  • Trip delay reimbursement: If you buy a ticket for a trip with the Card and your travel is postponed or delayed for more than 12 hours due to a covered reason, you will be eligible for up to $300 in reimbursement for qualified expenses such as meals, lodging, and toiletries. Every 12 months, you may submit up to two claims per account.
  • Car rental insurance: You will receive secondary coverage for damage or theft if you use your Card to pay for the entire car rental and decline the agency’s collision damage waiver. There are exclusions to which types of rentals are being covered for you, which regions or territories coverage is available, and other conditions to be aware of, so read your benefits guide carefully.

Point earnings

The Amex Gold card outperforms in terms of bonus categories and long-term earning potential. It makes points at the following rates (terms and conditions apply):

  • For example, restaurant dining makes 4 points per dollar spent.
  • Four points for every single dollar spent at U.S. supermarkets up to $25,000 per calendar year (then 1 point per dollar).
  • Flights booked straight from the airline or through the Amex Travel Portal earn 3 points per dollar.
  • All other eligible purchases earn you 1 point per dollar.

These are some of the most generous and valuable earning rates available on any rewards card. For example, earning four points per dollar spent on dining and groceries (up to the $25,000 annual cap) is equivalent to receiving an 8% return on investment.

Point redeeming

American Express membership points earned with the Amex Gold Card are among the most valuable prize points available.

To begin, cardholders can transfer their points to the program’s many airline and hotel partners for various fantastic travel options.

For example, transferred points to Etihad Guest can book business-class flights to Europe on American Airlines for just 50,000 miles each way.

  • Virgin Atlantic also offers a lot of value, such as the ability to book round-trip first-class flights on ANA between the United States and Japan for as few as 110,000 points. Transferring points to Avianca LifeMiles for cheap Star Alliance premium cabin awards is another excellent redemption option.
  • Transfer points to Choice Hotels and Marriott Bonvoy at a 1:1 ratio and Hilton Honors at a 1:2 ratio.

American Express occasionally offers transfer bonuses, which can be a great way to get even more value out of your points.

Transferring your Amex points to a travel partner will generally give you the most value for your money, but it isn’t your only option. You can redeem your points to buy gift cards, cover charges on your bill, shop at Amazon, or ride with Uber. Points can also be used to reserve tickets for travel directly through Amex.

Which Card can compete with the Amex gold?

Amex gold’s annual fee ranks in the mid to premium card fee range. There might not be any direct competition when discussing the annual fee, but some cards offer similar perks.

The Chase Sapphire Preferred Card, which has a cheap $95 yearly fee, is one of the most prominent and strongest competitors. It offers 60,000 bonus points after spending $4,000 on purchases within the first three months of opening an account.

The Card’s earning rates have also recently improved, and it now accrues:

  • On every trip booked through the Ultimate Rewards Travel portal, you will earn 5 points for every dollar spent.
  • Three points per dollar spent on dining (up from 2x).
  • On certain streaming services, you can earn three points for every dollar spent.
  • Three points per dollar spent on online groceries and shopping (excludes Target, Walmart and wholesale clubs).
  • Other travel earns 2 points for every dollar spent.
  • One point per dollar spent on other eligible purchases.

Those are some pretty good rates, especially considering cardholders receive an additional 10% annual points bonus on base spending. In addition, it has added a $50 annual statement credit for hotels booked through the Chase Travel Portal. The main thing to consider is whether you spend a lot more money on travel than you do on dining and groceries. If so, the Chase Sapphire Preferred may be a better option for you. Otherwise, you might be better off with Amex Gold, with higher earning rates and more significant statement credits.

The Chase Sapphire Reserve is worth mentioning on the premium end because it was once the apex champ for the highest point return on dining spending, with a 3x earning rate. However, this Card’s earning rates, like the Chase Sapphire Preferred, was recently revised, so it now accumulates:

  • Ten points per dollar spent on Chase Dining reservations made through Ultimate Rewards.
  • Purchases of hotels and car rentals through the Ultimate Rewards Travel portal earn 10 points per dollar.
  • Five points per dollar spent on airway tickets purchased through the Ultimate Rewards Travel portal.
  • Other travel and dining earn 3 points per dollar spent.
  • One point per dollar spent on other eligible purchases.

While this is another high-earning card, you may be better off with the Amex Gold depending on your typical purchase activity, which may include more general dining and grocery shopping rather than travel.

The Sapphire Reserve has a $550 annual fee, but it comes with a lot more perks than the Amex Gold, such as a $300 annual travel credit, a $100 Global Entry/TSA PreCheck application fee credit every four years, and Priority Pass lounge access.

In conclusion, Amex gold is a fantastic card. It has many point returns, and people who dine out and take uber rides frequently can benefit the most. A few cards can compete with this Card, but it is worth noting that each Card has some significant features that will make it better for you. But Amex gold is an excellent card with plenty of perks. Its welcome offer is one of the highest compared to most credit cards out there, so it is a card you should look into.

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Janet V. Wallace
I am an America-based experienced financial blogger with extensive writing skills and financial background. I will help people to invest their money in the stock market, be financially free, and live a fulfilled life. I will write a blog about the various aspects of personal finance and share my knowledge about How to find the perfect bank for your background and how to make your money work for you, how to save your money, and also help you take control of your money, I'm confident that my financial knowledge will help your needs.

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