Update: This offer for American Express® Gold Card has expired. Learn more about the current offers here.
Today the new American Express® Gold Card has been introduced, which is a rebranded version of the former Premier Rewards Gold Card. This new card is easily one of the most rewarding new cards on the market, and I think a lot of us (myself included) are going to be interested in this.
So let’s look at the details of the card:
American Express Gold Card bonus categories
The new American Express® Gold Card offers:
- 4x Membership Rewards points at U.S. restaurants
- 4x Membership Rewards points at U.S. supermarkets, on up to $25,000 in purchases annually
- 3x Membership Rewards points on flights booked directly with airlines or through amextravel.com
This is an outstanding return on spend. Personally I value Membership Rewards points at 1.7 cents each, so to me that’s like a 6.8% return at U.S. restaurants and U.S. supermarkets. That means it even beats the 3x points that the Chase Sapphire Reserve® offers on dining, though the Reserve has the benefit of offering triple points on dining globally (and not just in the U.S.).
Still, those are some spectacular bonus categories.
American Express Gold Card annual fee
The American Express® Gold Card has a $250 annual fee, and it isn’t waived for the first year. This is a higher annual fee than on the former Premier Rewards Gold Card, which had a $195 annual fee that was waived for the first year.
American Express Gold Card perks
A $250 annual fee is steep, though the American Express® Gold Card offers some perks that nicely help offset it. Specifically, the card offers:
- A $120 dining credit, which gives enrolled members up to $10 per month in statement credits when they use their card at eligible dining partners, including Shake Shack, The Cheesecake Factory, Ruth’s Chris Steak House, and Grubhub/Seamless
- A $100 airline fee credit every calendar year
If you value those at face value, that’s worth up to $220. Of course I wouldn’t quite value this at face value. Personally I think the airline fee credit is worth pretty close to $100, as I’ve always gotten full value out of that perk on the Amex Platinum Card.
The dining credit is a bit trickier, though. For some it will be worth close to face value, while for others it will be pretty worthless. It all depends on your dining patterns.
American Express Gold Card welcome bonus
Through January 9, 2019, the American Express® Gold Card has a public welcome bonus of 25,000 Membership Rewards points after spending $2,000 within three months. On top of that, the card offers 20% back as a statement credit on purchases at U.S. restaurants for the first three months, up to $100 back. On top of that, if you apply by January you can also receive a rose gold card, which is a limited time feature.
However, do note that some people are reporting seeing welcome bonuses of 50,000 points when opening the application, including when opening it in a new browser. So obviously if you can get the card with a 50,000 point bonus, that’s ideal.
Ultimately this is a card you want because the incredible value it can provide helping you maximize your return on spend.
American Express Gold Card eligibility
The welcome bonus on this card isn’t available to those who currently have the card, or those who have had the Premier Rewards Gold Card in the past.
It could still absolutely be worth getting this card even if you’re not eligible for the welcome bonus. That’s the situation I’m in, for example — I had the Premier Rewards Gold Card in the past but canceled it, but still plan to apply for this card, since it’ll be worth it, even without a bonus.
It’s also worth noting that the American Express® Gold Card is a charge card. This is a useful distinction because charge cards aren’t subjected to Amex’s five card limit. Amex will typically let someone have at most five credit cards, but charge cards don’t count towards that total.
Existing Premier Rewards Gold Card members
If you currently have the Premier Rewards Gold Card you’ll automatically be converted to this new product. The good news is that you’ll continue earning 2x points at U.S. gas stations through October 4, 2019, and you’ll also maintain the current $195 annual fee through at least April 1, 2019.
My thoughts on the new Amex Gold Card
This is a really spectacular card that largely has me rethinking my credit card strategy. When it comes to maximizing Membership Rewards points, it seems tough to beat the combination of the:
- The American Express® Gold Card for 4x points at U.S. restaurants and U.S. supermarkets
- The Blue Business℠ Plus Credit Card from American Express for 2x points on the first $50,000 spent every calendar year
- The Platinum Card® from American Express 5x points on airfare purchased directly from airlines, plus all the benefits it offers
In my opinion this new card might just be a game changer in the same way that the Chase Sapphire Reserve® was for Chase.
What do you make of the new American Express® Gold Card?