The American Express Gold Card was refreshed in August 2024 with a few changes. It remains a mid-to-high tier card centered around restaurants and groceries. It may not be the best option for most people, but the card is flexible enough to be worth looking into, particularly for high spenders. The annual fee has been raised by $75 in exchange for up to $184 in new credits. Whether this is a great value depends on each person.
FEATURES AT A GLANCE
- $325 annual fee (previously $250)
- No foreign transaction fees
- 4x points on dining (restaurants, takeout, and delivery including UberEats) (up to $50,000 spent annually, then 1x)
- 4x points on groceries (up to $25,000 spent at U.S. grocery stores each year, then 1x)
- 3x points on flights
- 2x points on hotels booked through AmexTravel.com (with potential bonus perks for booking something from The Hotel Collection)
- 1x points on everything else
- Metal card (choose from 3 color options: Gold, Rose Gold, or limited-edition White Gold)
SIGN UP BONUS
The sign-up bonus (SUB) varies on a case-by-case basis. The standard offer is for 60,000 bonus points after spending $6,000 in your first 6 months of holding the card. Some people are eligible for a higher bonus. You may be ineligible for a SUB if you previously held a Gold or Platinum card within the past 7-10 years.
When applying through the Resy page, the Gold card offers 75,000 bonus points after spending $6,000 or more in your first 6 months of having the card, plus a bonus 20% cash back (as statement credits, up to $250 back) on restaurant spending.
As of August 2024, the best possible public SUB is to earn 100,000 bonus points after spending $6,000 or more in your first 6 months of having the card, plus a bonus 20% cash back (as statement credits, up to $100 back) on restaurant spending. The AMEX website says this offer expires 11/6/24. You’d have to spend $500 over 6 months to get the full $100 bonus.
OTHER BENEFITS OF THE AMERICAN EXPRESS GOLD
- $10 monthly Uber Cash (valid for either UberEats orders or US-based Uber rides)
- $10 monthly credit at Grubhub, Cheesecake Factory, Wine.com, Goldbelly, or Five Guys
- $50 semi-annual Resy credit (every 6 months, up to $100 per year)
- $7 monthly Dunkin Donuts credit (up to $84 per year)
- “Elevated benefits that offer an average total value of $150 during your stay” when customers “book The Hotel Collection with American Express Travel”
- Emergency assistance hotline
- Trip delay insurance
- Lost baggage insurance
- Car rental insurance (secondary)
- Purchase Protection
- Extended Warranty
- Free ShopRunner membership
- AMEX Offers and limited-time Perks
The card also allows people to get “premium seats” and “exclusive access to ticket presales and Card Member-only events in a city near you” through options like American Express Preferred Access, the American Express Venue Collection, and Events with AMEX.
RESTRICTIONS AND CREDIT SCORE
Recommended credit score: 740+
Although American Express is widely accepted, it doesn’t have the same acceptance rate as Visa or Mastercard, especially overseas. It’s good to have a backup card when traveling. American Express also can’t be directly used at select places, such as eBay or Costco.
Also note that this is a charge card, not a credit card, even if AMEX has added more features to make these cards similar to credit cards. American Express also has anti-churning rules.
MAXIMIZING REWARDS WITH AMERICAN EXPRESS
AMEX added the option to redeem points for cash at $0.01 each (1 cpp) in 2021. This gives the sign-up bonus a $600-1000 value at minimum. Transferring points to travel partners can make those points more valuable. However, usable options can be limited, depending on cardholder location and travel preferences. You can also get a 10% bonus if you hold a Schwab Platinum card (1.1 cpp when redeemed for cash).
The Gold card is aimed at people who use food delivery services, Uber, and go grocery shopping. The 4x points earned on food/grocery is an above-average rate. For someone who can get full use out of the different credits, the Gold card easily pays for itself in the first year ($424 in statement credits versus the $325 annual fee). That doesn’t even take into account the points earned from using the card.
For people who spend around $3,000 a year on dining and groceries, this would outdo no-fee 3% cash back cards by about $30. ($120 earned at 4% vs $90 earned at 3%). Spending $250 per month is easily attainable for most people. Some cards can earn more on groceries (like the Citi Custom Cash and AMEX Blue Cash Preferred) but those cards have much smaller spending limits. The Gold is a clear winner if you spend more than $6,000 per year on groceries. Spending $6,000 per year yields $240 in cash back at 4% (a 3% card would give $180) and spending the grocery maximum of $25,000 earns an even $1,000 in cash back (a 3% card would earn $750).
The $100 Resy credit is the easiest statement credit to use. Simply pay with your Gold card at any restaurant listed on Resy (you don’t have to make a reservation through Resy beforehand) and you’ll get a statement credit reimbursing up to $50 back, up to twice per calendar year (split into January-June and July-December). This does depend on you having access to Resy-networked restaurants nearby.
The $10/month Uber Cash is generally easy to use since Uber has wide global coverage. Uber Cash is loaded onto your Uber account on the 1st of each month, and any unused balance expires at the end of that month. It can be used toward either Uber rides or UberEats orders. Some people may place one UberEats pickup order each month to maximize the credit.
The $10/month Dining credit can be used with Grubhub, Cheesecake Factory, Wine.com, Goldbelly, or Five Guys. This is one of the least flexible credits on the Gold card, and its utility depends a lot on your local area. Most people can use Grubhub/Seamless to get the monthly credit. Amazon Prime members get Grubhub+ for free. Like the Uber Cash, people might place one Grubhub pickup order each month to maximize the credit.
The $7/month Dunkin Donuts credit is easy to use in most areas, especially the New England region, but that assumes you enjoy Dunkin Donuts. At this time, some people are using the credit to refill gift card balances in the Dunkin Donuts app, saving up for a larger purchase down the road. Some people may visit a Dunkin Donuts once or twice a year at most.
For flights and hotels, it’s usually better to apply for the American Express Platinum card. Also note that AMEX’s “Lowest Hotel Rates Guarantee” doesn’t apply to stays booked through the Fine Hotels + Resorts and The Hotel Collection programs.
Overall, the Gold card touts well over $400 in annual credits and perks, but it’s up to each person to decide if they’ll get enough value to offset the $325 annual fee.
ALTERNATIVES TO THE GOLD CARD
The Citi Premier is the closest alternative; it earns points in the same categories and has a lower annual fee. For separate categories, examples of alternatives include:
Dining: Chase Sapphire Reserve, Citi Custom Cash, Capital One SavorOne, Wells Fargo Autograph
Groceries: American Express Blue Cash Preferred, Citi Custom Cash, Capital One SavorOne
Flights: Chase Sapphire Reserve, American Express Platinum, US Bank Altitude Reserve
Everything else: Any 2% card, such as Capital One Venture X or Signature FCU
CONCLUSION
The Gold Card is a decent card for restaurant and grocery expenses. No-fee cards are often better, but you can still come out ahead if you use all of the many credits and perks. The value of this charge card depends on personal spending habits and location. It’s often a slam-dunk for people living in places like New York City or Boston, yet less clear outside of major cities. The Gold card has this in common with the Platinum charge card, and people have criticized both for their “coupon book” approach to credits. This strategy doesn’t seem to be going out of style, though. High-fee cards do tend to focus on well-off urban customers and frequent travelers.
Is a $325 annual fee worthwhile long-term? Only you can say for sure. In the short term, the high sign-up bonus makes the Gold card excellent for at least one year. Try it out and see how you like it. The Gold card is best for people who spend between $6,000 and $25,000 annually on dining and/or groceries, AND will use at least $250-300 of the Gold credits organically. (If you have to change your spending habits to make use of the credits, then their value decreases.) Everyone else should likely look for a no-fee card which earns 3-5% cash back on dining or groceries.
We rate the Gold card 4 out of 5 stars. ⭐⭐⭐⭐
Note: This review was last updated in August 2024. Details may have changed since then. Please do your own research where applicable, to ensure you’re getting the best deal. Or contact us directly to take advantage of our personalized consulting services!