Although all credit cards have the same feature of paying for purchases with the bank’s money, they do not work the same. The benefit they offer and the payment installments may vary from one credit card to another, such as the AmEx Gold Card.
To learn more about this card and whether it is worth acquiring, it is advisable to study the pros and cons of the card.
What are the benefits of the gold card?
Despite having an annual fee of $250, the gold card has a benefit of $240 that allows you to pay most of it. Most of its benefits are targeted at Uber, airfare, and restaurants.
They provide an annual credit of $120 in food, distributed at $10 per month. This credit must be spent at select partners such as Wine.com, Milk Bar, Grubhub, The Cheesecake Factory, Goldbelly, and select Shake Shack locations (Shake Shack locations at race tracks, stadiums, or airports do not apply).
Credit will be applied two to four weeks after the purchase is posted into your account. It is important to note that they are non-transferable; if you don’t use them for a month, you will lose them.
The same applies to Uber Cash. They have a benefit of $120, which is divided into $10 per month. The card must be added to the Uber account to enjoy this benefit, and it can be used on Uber Eats orders or Uber rides in the United States.
Just like the meal credit, they don’t carry over from month to month, so if you don’t use them, they will be lost.
They have another very popular benefit: points. These are transferable and are widely used by food lovers and travelers. For every dollar spent in restaurants or supermarkets in the United States on purchases of $25,000, they offer 4 points.
For every dollar spent on a reservation made directly with American Express Travel or the airline, 3 points will be received for flights. On certain eligible purchases, you will earn 1 point per dollar.
These points can be transferred to Emirates, British Airways, and Virgin Atlantic frequent flyer and loyalty programs.
On the other hand, an additional fee of $0.0006 to $99 per point will be added if they are transferred to a U.S. airline. So, in this case, we are uncertain if transferring the points is the best option.
Welcome to offer
They offer a welcome offer that gives away 60,000 points on eligible purchases of $4000 during the first six months of card membership. The points are worth 0.5 to 1 cent each, which could be enough to pay for an airline ticket.
Is the gold card worth buying?
Most likely, yes, but it will depend on your needs and what you are looking for. The $120 annual credits at restaurants and Uber can be rewarding for more than one person.
In addition, Membership Rewards provide a variety of travel rewards. These are their main benefits, so it may be worth it if they catch your eye.
What other facts do you know about the gold card?
The American Express Gold Card sometimes does not allow you to carry a balance from month to month on purchases. Therefore, it is recommended that you keep your monthly balance payments up to date.
It has a regular APR between 18.99% to 25.99% Variable, no purchase introductory APR, and no balance transfer introductory APR.
No balance transfer fees. On cash advances, there is an additional fee of $10 or 5% of the ticket amount. The higher of the two will be chosen.