American Express Gold Card Review 2024

Discover the rich benefits and drawbacks of the American Express Gold Card in our comprehensive review.

The American Express Gold Card is a favorite among foodies, offering robust rewards at restaurants and U.S. supermarkets, along with an annual dining credit.

American Express Gold Card Overview

Quick Facts

Annual Fee: $250
Rewards Rate: 1x-4x Points
Intro Offer: 60,000 Points
Regular APR: See Pay Over Time APR
Recommended Credit Score: 690-850 (Good – Excellent)

Pros and Cons

Pros	Cons
High rewards in dining categories	High annual fee
Transfer partners for flexible rewards	Complicated rewards system
No foreign transaction fees	Requires good/excellent credit

Detailed Review

High Rewards for Foodies

The American Express Gold Card is designed for those who love dining out and grocery shopping. With 4 points per dollar spent at restaurants and U.S. supermarkets (up to $25,000 per year), it’s a powerful tool for earning rewards.

Annual Credits:

Dining Credit: $120 annually, provided in monthly $10 increments for select partners like Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar, and select Shake Shack locations.
Uber Cash: Up to $120 annually, $10 monthly for Uber Eats orders or Uber rides in the U.S.

Welcome Bonus

60,000 Membership Rewards Points after spending $6,000 on eligible purchases within the first 6 months.

Rewards Breakdown

Category	Points Earned
Restaurants	4 points per dollar
U.S. Supermarkets (up to $25,000/year)	4 points per dollar
Flights booked directly with airlines or Amex Travel	3 points per dollar
Other eligible purchases	1 point per dollar

Note: Points are generally worth 0.5 to 1 cent each, with higher value through travel and gift card redemptions.

APR and Fees

APR: Varies with terms for “Plan It®” and “Pay Over Time” features, which allow for financing certain purchases.
Foreign Transaction Fees: None.

Additional Benefits

Metal Card: Stylish and durable.
Transfer Points: Membership Rewards points can be transferred to several travel loyalty programs, including British Airways, Virgin Atlantic, and Emirates.

Comparison with Other Cards

Chase Sapphire Preferred® Card

Feature	Chase Sapphire Preferred®	American Express Gold Card
Annual Fee	$95	$250
Rewards Rate	2x on dining and travel	4x on dining and supermarkets
Intro Offer	60,000 points	60,000 points

Discover it® Miles

Feature	Discover it® Miles	American Express Gold Card
Annual Fee	$0	$250
Intro APR	0% for 15 months	N/A
Rewards Rate	1.5 miles per dollar	1x-4x points

Benefits and Perks

Annual Credits

Dining Credit: Earn up to $120 annually in monthly $10 increments for select partners. Uber Cash: Earn up to $120 annually in monthly $10 increments for Uber Eats or Uber rides.

Transferable Points

Points can be transferred to several loyalty programs, potentially increasing their value. Caveat: Transferring to U.S. airlines incurs a fee of $0.0006 per point, up to $99.

Welcome Offer

60,000 Membership Rewards points after spending $6,000 on eligible purchases in the first 6 months.

Flexible Rewards

Membership Rewards points can be redeemed for travel, gift cards, and more. Transfer points to loyalty programs for higher value.

Drawbacks and Considerations

High Annual Fee

At $250, the annual fee is steep. It’s worth it only if you can maximize the card’s rewards and credits.

Complicated Rewards

The rewards structure is complex, with various conditions and caps. Example: The $120 dining credit is split into $10 monthly increments and can only be used at select partners.

Not for Frugal Spenders

If you don’t spend enough on dining and groceries or can’t maximize the credits, consider a no-fee card like the Citi Double Cash® Card, which offers 2% cash back on all purchases.

FAQ Section

Q: What are the main benefits of the American Express Gold Card?
A: High rewards on dining and groceries, annual dining and Uber credits, and transferable points.

Q: What are the drawbacks?
A: High annual fee and a complicated rewards system.

Q: Is there an intro APR offer?
A: No, the American Express Gold Card does not offer an intro APR.

Q: Can I use the dining credit at any restaurant?
A: No, the $10 monthly dining credit can only be used at select partners like Grubhub and The Cheesecake Factory.

Q: Are there foreign transaction fees?
A: No, there are no foreign transaction fees.

Q: What credit score is recommended?
A: A credit score of 690-850 (Good to Excellent) is recommended.

The Bottom Line

The American Express Gold Card is a top choice for dining enthusiasts who can take full advantage of its rewards and annual credits. However, its high annual fee and complicated rewards system may not suit everyone. For those who prefer simplicity and lower fees, other cards like the Chase Sapphire Preferred® or the Citi Double Cash® Card might be better options.