When it comes to credit cards, choices are abundant, and the variety of options can feel quite daunting. You might have heard of the American Express Gold Card, often simply referred to as the Amex Gold. After using this card for six months, I want to share my honest review with you, highlighting what I've liked most and disliked most about owning the Amex Gold.
What I've Liked Most About Owning the Amex Gold
Let's start with the good stuff: the aspects of the Amex Gold Card that have pleasantly surprised me and made it a noteworthy addition to my wallet.
Rewards Galore
One of the standout features of the Amex Gold Card is its incredible rewards program. I've earned valuable Membership Rewards points at a much faster rate than with my previous card. The 4x points on dining and 4x points at U.S. supermarkets (up to $25,000 in annual spending) are a game-changer. Whether I'm dining out or stocking up on groceries, my points balance has been steadily climbing.
Statement Credits
Amex Gold offers some fantastic Statement Credits that can help offset its annual fee. The $120 dining credit, split into $10 monthly credits at eligible restaurants and delivery services like Grubhub and Seamless, is a brilliant perk. Plus, the $100 airline fee credit for incidental charges, like baggage fees, is a nice bonus for frequent travelers.
Flexible Redemption Options
Not only do I accumulate points quickly, but the redemption options are incredibly flexible. I can use my points for travel, Statement Credits, gift cards, and more. This versatility allows me to make the most of my rewards.
Travel Benefits
Though not a travel-specific card, the Amex Gold provides a handful of travel benefits that I've found useful. I appreciate the baggage insurance plan and the Global Assist Hotline, which provides emergency assistance when I'm away from home.
Sleek Design
It might seem trivial, but the card's physical design is sleek and modern. It's made of metal, giving it a premium feel. Every time I pull it out to make a purchase, it's a little reminder that I'm carrying something special in my wallet.
Membership Rewards
The Membership Rewards program, which is closely tied to the Amex Gold Card, deserves its mention. The variety of redemption options and the ability to transfer points to a selection of airline and hotel loyalty programs add a layer of value to this card that's hard to beat.
Customer Service
I had to contact Amex customer service a couple of times for various issues, and I was pleasantly surprised. The representatives were knowledgeable, friendly, and efficient in resolving my concerns. Good customer service can make or break a credit card experience, and Amex delivers on this front.
What I've Disliked Most About Owning the Amex Gold
Now, let's address the flip side of the coin. While there's much to love about the Amex Gold Card, there are a few aspects that have left me somewhat disappointed.
Annual Fee
The annual fee for the Amex Gold Card is a bit on the higher side, and it's one of the aspects I've struggled with. While the rewards and Statement Credits can offset it to some extent, not everyone might find the cost justifiable, especially if you don't dine out frequently or spend a lot at U.S. supermarkets.
Limited Acceptance
The Amex Gold Card is not as widely accepted as Visa or Mastercard. I've encountered a few instances where I had to use an alternative card due to the merchant not accepting American Express. It can be a minor inconvenience, but it's worth considering, depending on your location and spending habits.
Foreign Transaction Fees
For a card with a premium annual fee, it's disappointing that the Amex Gold Card still charges foreign transaction fees. If you travel abroad frequently, these fees can add up. I wish Amex would eliminate them as some other premium cards have done.
No Introductory 0% APR
Unlike some other credit cards, the Amex Gold Card doesn't offer an introductory 0% APR on purchases or balance transfers. If you're planning to make a large purchase or transfer a balance, this card might not be the best choice from a cost-saving perspective.
Limited Travel Benefits
While the Amex Gold Card provides some travel benefits, they are relatively limited compared to dedicated travel cards. There's no access to airport lounges or trip cancellation insurance, which can be significant for frequent travelers.
Credit Limit
The Credit Limit I was initially assigned with the Amex Gold Card was lower than I expected. While this wasn't a major issue for me, it could be frustrating for individuals who need a higher Credit Limit for their spending habits.
Will I Keep the Amex Gold?
After six months of using the Amex Gold Card, I find myself at a crossroads. It's time to evaluate whether this card is a long-term keeper or if I should consider other options.
The decision to keep a credit card often hinges on personal preferences and financial goals. In my case, the Amex Gold Card offers substantial benefits, especially in terms of rewards and Statement Credits. I value the flexibility it provides, and I've been able to maximize its value by using it for dining and groceries, taking full advantage of the 4x points.
On the other hand, the limited acceptance and foreign transaction fees can be drawbacks, depending on your lifestyle. If you rarely dine out or don't have access to supermarkets, the Amex Gold Card's value diminishes. Similarly, if you frequently travel abroad, the foreign transaction fees might outweigh the benefits.
In my case, I've decided to keep the Amex Gold Card for the foreseeable future. The rewards and Statement Credits align with my spending habits, and I appreciate the flexibility they offer. It's become a valuable addition to my wallet.
Conclusion
In conclusion, the Amex Gold Card is a credit card that shines in many aspects. Its rewards program, Statement Credits, and flexible redemption options are compelling. The card's sleek design and excellent customer service add to its appeal. However, the annual fee and limited acceptance may be drawbacks for some, as well as the foreign transaction fees.
