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While 2018 has seen a massive number of entirely new credit cards being launched, we’ve also seen an uptick in the number of cards getting a major refresh as issuers come face to face with intense competition.
The latest card to get such a facelift is the American Express Gold Card formally known as the Premier Rewards Gold Card). While the annual fee was raised to $250 and is no longer waived for the first year, the card now carries a $120 annual dining credit and some exciting 4x bonus categories.
Who Is This Card For?
Between the annual dining credit and 4x bonus categories on US restaurants and supermarkets (up to $25,000 spent per year), the Amex Gold Card is clearly meant for people who enjoy cooking, eating out, and ordering in. Pretty much everyone who likes food. This card is also perfect for people looking for strong bonus categories without paying a $400+ annual fee for a premium credit card like the Amex Platinum.
Current Bonus
The current bonus on the Amex Gold Card is 25,000 Membership Rewards points after spending $2,000 in the first 3 months, which I value at roughly $475. It’s certainly not as high as some of the 100,000 point bonuses we’ve seen this year, but at least the spending requirement is low.
In addition to the points, until January 9, 2018 Amex is celebrating the improved card offering with their “We’ll Pick Up the Tip” promo, which offers new applicants a 20% back statement credit at US restaurants (up to $100) during the first 3 months. This brings the total value of the bonus up to $575, which is solid but by no means record breaking. Not to mention you can also order the card in a rose gold color until January 9th.
Earning
As mentioned above, some of the most exciting changes to the card come in the bonus categories. The chart below compares the earning rates of the old and new cards, as well as the % return.
| Bonus Category | Premier Rewards Gold Card (Old) | American Express Gold Card (New) |
| US Restaurants | 2x (3.8% return) | 4x (7.6% return) |
| US Supermarkets | 2x (3.8% return) | 4x (7.6% return), capped at $25,000 per calendar year |
| Airfare Purchased Directly From the Airline | 3x (5.7% return) | 3x (5.7% return) |
| US Gas Stations | 2x (3.8% return) | 1x (1.9% return) |
| Non-Bonus Spending | 1x (1.9% return) | 1x (1.9% return) |
A 7.6% return on dining and groceries is among the best you can get from any credit card, but it’s unfortunate that the 4x on groceries is capped at $25,000 in spend a year and that both bonus categories are only valid within the US. You’d hope that a travel rewards card would be a little more rewarding to travelers…
The Gold Card will keep the old 3x on airfare purchased directly with the airline or at amextravel.com but it’s losing the 2x at gas stations. If you’re looking for better bonus rates at gas stations, you can check out this list.
Redeeming
Not only are the earning rates high on the Gold Card, but the Membership Rewards points you earn are one of the most valuable points currencies out there. Points transfer to 20 travel partners, including 17 airlines and 3 hotels. Make sure to keep your eye out for transfer bonuses, such as the current 40% bonus for transfers to British Airways or the recently expired transfer bonus to Virgin Atlantic which can help you unlock some unbelievably cheap ANA redemptions.
You also have the option to redeem your points for statement credits or to buy gift cards, but the easiest way to maximize the value of your Membership Rewards points is by transferring them to airline and hotel partners.
Perks
The Amex Gold Card isn’t overloaded with perks like the Platinum Card is, but the few it does offer help make it a great value.
The $250 annual fee is mostly offset by $220 in annual statement credits, which break down as follows:
- $100 annual airline incidental credit. This is not valid for tickets, but for incidental charges like lounge access, seat assignment, checked bag fees, etc.
- $120 annual dining credit, or $10 a month when you pay with your gold card at the following dining partners: Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House and participating Shake Shack locations.
If you’re considering applying for a card that specializes in dining and travel rewards, hopefully you’ll be able to max out both of these annual credits. If you do, it drops your out of pocket cost to only $30 a year ($250 annual fee – $220 annual credits) and makes the Amex Gold Card one of the cheaper cards on the market.
Cardholders will also earn double points and enjoy a $75 property credit when booking hotel stays or 2 nights or more through the Amex Hotel Collection. And if you book airfare with the Gold Card, you’ll be eligible for baggage insurance if your bags are lost, stolen or damaged.
Bottom Line
The old Premier Rewards Gold Card was a confusing product, as it charged a high annual fee and didn’t offer much in the way of rewards or perks to make up for it. The new refreshed Amex Gold Card addresses those concerns, and is a huge value add for US customers who spend a lot on dining and groceries. While you will have to pay the $250 annual fee up front, the annual statement credits make this card almost free to carry long term, and in exchange for that $30 you get access to supercharged earning on your dining and grocery purchases.
