Are gold cards worth it?

The American Express Gold Card is considered one of the best travel rewards cards thanks to the numerous food and travel perks that appeal to big spenders who can afford its $250 annual fee. It offers generous ongoing rewards for airfare purchases and spending at restaurants and U.S. supermarkets.

Is Amex gold card worth keeping?

Is the American Express Gold Card worth the annual fee? If you make use of the card's annual credits and you spend a lot on dining and groceries, the card can be well worth the $250 fee. If you're not maximizing the credits and bonus categories, another card could be a better choice.

How much do you have to spend for the gold card to be worth it?

The quickest way to recoup the Amex Gold's annual fee is to spend a combined $6,250 at U.S. supermarkets and restaurants, assuming a conservative 1 cent per point valuation (though it's easy to get more value than that).

Is Amex Gold impressive?

If you're an everyday cardholder wondering if the Amex Gold is worth it for you, take it from us: The Amex Gold is one of the best cards on the market if you spend heavily on food and make the most of its perks on dining and travel. This card's value can more than cover its $250 annual fee in the right hands.

Is a gold credit card prestigious?

American Express “precious metal” cards, whether Gold or Platinum have a reputation of prestige. The Gold card and the Platinum card both offer a range of benefits to card holders, and they both have annual fees that are significantly higher than the average credit card fee.

Amex Gold Card - My HONEST Review (After 2 Years)

Are gold cards hard to get?

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.

Is Amex Gold or platinum better?

Amex Platinum ultimately offers more value, though. For example, its benefits include airport lounge access, while the Amex Gold Card's perks do not. When it comes to ongoing rewards on purchases, Amex Platinum has a higher maximum earning rate and better travel rewards. But Amex Gold provides more everyday value.

What are the drawbacks of Amex Gold?

Is Amex gold hard to get?

Is it hard to get an Amex Gold card? Getting the Amex Gold Card isn't the easiest card to qualify for as you need good or excellent credit. That means having a minimum 670 FICO score and existing cards in good standing. Being an existing American Express cardholder can also make it easier to qualify.

Why is Amex gold so expensive?

Bianca Smith, WalletHub Credit Cards Analyst

The main reason why Amex cards are so expensive is that many American Express credit cards offer generous rewards rates and high-end perks, which warrant steep annual fees.

What happens if you don't pay Amex Gold in full?

Interest charges accrue when you don't pay the bill off in full. Pay Over Time charges an interest rate that is the same across the Green, Gold and Platinum products. As of August 2020, cardholders who use the feature will pay an APR between 15.99% to 22.99%, depending on creditworthiness.

How do I get my Amex Gold card fee waived?

Call the retention line and ask your card's issuer to waive or lower its annual fee. Long-time customers and high-spenders with great credit who always pay in full likely have the best chance. It's a common credit card promotion to waive the annual fee for the first year your account is open.

What is the advantage of a gold card?

Points: Spending rewards

The American Express® Gold Card earns: 4 Membership Rewards points when you dine at restaurants. This includes takeout. 4 points at U.S. supermarkets, on up to $25,000 per year in purchases.

Why do people like Amex Gold?

While this premium rewards credit card charges a $250 annual fee, several Amex Gold benefits make paying this fee well worth it. These include up to $120 in Uber Cash, up to $120 in dining credits each year and up to a $100 hotel credit with The Hotel Collection.

What is Amex Gold Card limit?

If you have a Consumer or Business Green, Gold or Platinum Card, your Card does not have a credit limit. Instead, your Card has no preset spending limit unless you have been previously notified otherwise. No preset spending limit means the spending limit is flexible.

Is Amex Gold good for everyday spending?

The Amex Gold is a good choice for dining and at supermarkets, but not as an everyday card. The American Express Gold is a specialized card. Beyond dining, supermarkets and airfare, you'll earn only 1 point for every dollar you spend on everything else.

Is the gold Amex better than the blue?

Bottom Line: The Amex Gold card comes with higher earnings at U.S. supermarkets, restaurants, and airline tickets, but it also comes with an annual fee. The Amex Blue Cash Everyday card doesn't charge an annual fee, but its earning rates are lower.

What age is Amex Gold for?

Editorial and user-generated content is not provided, reviewed or endorsed by any company. The Amex Gold card requirements for approval include having a credit score of at least 700, being at least 18 years old, and being a U.S. citizen or permanent resident.

Is Amex Gold still metal?

The American Express® Gold Card is our top-rated travel card. The card is made out of stainless steel and weighs 15 grams. Cardholders will have the ability to pay with a tap of their card at select merchants thanks to the card's contactless feature.

Is it bad to cancel Amex Gold?

If you cancel your Amex Gold, you will need to transfer your Membership Rewards points out. This gets rid of the main benefit of Membership Rewards points – flexibility. Keeping your Gold card means you can keep your Membership Rewards points account open and so keep all of your options for the points open.

Are Amex gold cards still metal?

Yes, the Amex Gold card is a metal credit card. New Amex Gold card applicants don't need to specify that they want a metal card, either. This is the standard design for this card.

What is the most prestigious American Express card?

The most exclusive credit card is the American Express Centurion Card, also known as the Amex Black Card. It is reportedly reserved for people who spend at least $100,000 per year, and an invitation is needed to apply.

What is the hardest American Express card to get?

The hardest Amex card to get is the Centurion® Card from American Express. Also known as the “Black Card,” this Amex card is hard to get because it is available by invitation only, and potential candidates are rumored to need an annual income of at least $1 million.

Does Amex Gold get you into airport lounges?

The Amex Gold card does not offer any complimentary airport lounge access. Bottom Line: If you value worldwide lounge access, the Amex Platinum card is a clear winner as the Amex Gold card does not offer any form of airport lounge access.

What is the easiest Amex card to get?

There are no American Express credit cards that are easy to get. They all require good credit or better. Compared to other American Express cards, the Amex Blue Cash Everyday card is easier to get if you have good credit or better and you meet all other criteria in order to qualify for it.