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American Express Premier Rewards Gold: A Luxurious Lifestyle Choice

American Express® Premier Rewards Gold Card Editor's Rating: 4.5 / 5

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The American Express® Premier Rewards Gold Card is a status symbol. It’s only offered to people with superb credit, and since it’s a charge card, you are required to pay the balance in full each month.  This is a throwback to the American Express of yore, when these “charge cards” made you part of an exclusive club with benefits to match. And like all AmEx cards, the value of the American Express® Premier Rewards Gold Card rests not on its rewards rate, but on its pretty impressive, very exclusive benefits.

High fees, but benefits to match

Even though the value of Membership Rewards Points may be lower than some cash rewards cards might pay you, a lot can be said for the fringe benefits, which are impossible to quantify.  Remember the old commercials that told you, “Membership has privileges?” Well, this is what they meant.

  • 24-hour Roadside Assistance, plus pretty extensive rental car insurance.
  • Baggage Insurance to cover loss or damage of your checked bags.
  • Global Assist Hotline, which is like a travel concierge that will take care of any issues you might have while away from home.  Lose your passport in Argentina?  Just call and have it taken care of.
  • Preferred Treatment and seating at concerts, sporting events, etc.  Get exclusive access to tickets before they go on sale, and sit with the other big spenders close to the action.
  • Purchase Protection, which means AmEx will reimburse you if something you just bought gets damaged or stolen
  • Return Protection will give the same coverage if you want to return an item and the seller won’t accept it
  • Warranty Extension will, as the name implies, extend a manufacturer’s warranty for one year

While the benefits are pretty impressive, they don’t match those of the The Platinum Card® from American Express. With this card, you get concierge service, an annual $200 credit to offset airline incidentals like bag fees or inflight meals, airport lounge access…you get the idea. If you can spring for the higher fee with the The Platinum Card® from American Express, you’ll get unrivaled benefits.

The American Express® Premier Rewards Gold Card earns 3 points per $1 spent on airfare, 2 on gas, groceries, and restaurants, and 1 point elsewhere. That’s a pretty impressive rewards rate for a high-brow charge card. It pays rewards in the form of Membership Rewards, which we believe is one of the best points programs out there.

In terms of a signup bonus, you’ll get: Earn 25,000 Membership Rewards® points after you use your new Card to make $2,000 in purchases in your first 3 months.  Membership Rewards points can be used to pay for travel at any hotel or airline, and can also be redeemed for the standard gift cards and such. You can also use points to “top off” airline miles or hotel rewards that you’ve already accrued with the airline/hotel itself, rather than many rewards programs that require you to earn a ticket/night’s stay using credit card rewards alone. There are no blackout dates, and the points never expire.

The rewards rate isn’t as good as AmEx’s “everyday” credit cards, like the Blue Cash Preferred® Card from American Express.  It provides 6% rewards on groceries (up to $6k spent a year), unlimited 3% on gas and select department stores and 1% elsewhere. As you can see, the American Express® Premier Rewards Gold Card privileges big-spender categories like airfare while the more prosaic cards give rewards on everyday purchases. But as we said, a rewards rate does not an American Express card make. It’s got some pretty great perks, which you should factor into your calculations.

 


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    It pays rewards in the form of Membership Rewards, which we believe is one of the best points programs out there.

  • chromedragon

    I have had a card since 2003. It is NOT for someone who cannot keep track of their finances as it is not a credit card. Balance must be paid off every month. The biggest downside I find is that some of the merchants I do business with do not accept AE.

  • Mary Seeyu

    Amex is the best card to have. You purchase something, you pay for it at the end of the month. This way you don’t go deep into debt. I love it!

    • ben roth

      me too this is the best as you say

  • member since 11

    Three years ago I had 680 when approved for Discover More with 4k CL only (my first prime CC after the subprime Capital One, Credit One and First Premier Shitty Banks)… Six months later I found my invitation into this Amex Gold and they approved me online . It was 2011. Now I’m using the SimpliCity with 18k CL, Chase Freedom 16k, Chase Southwest Plus 16,2k (and 50K miles bonus) , Discover 19,5k, and my two brand new cards: Chase Mariott visa signature wih low 5k (but 70k points bonus) and Citi Hilton 6k only (but again: 40k bonus). so It was worth to join the AmEx team.

  • Chong Yang

    If you’re looking for a card with a good reward program then this is not it. I have this card and I charged everything on it thinking that the point system was worth it. It sounds good with the 3x ,2x,1x point system but if you do the math it is not. The conversion rate for a statement credit is 166.67 points per $1 credit. If you charge an item that gives you 1x point then you are getting 0.6% cash back. For 2x points, you are getting 1.2% cash back. And for 3x points you are getting 1.8% cash back. If you use your points to shop on their website, the conversion rate is even higher with a 200 points per $1 credit. Gift cards ranges from 100 points/$ to 200 points/$. A straight up cash back reward card is a better choice in my option.

    • William Wadsworth

      Only an idiot would use MR points for statement credits or cash back. The real value is found in transfers to travel partners, where you can get 5-6 cents per point of value on some redemptions. That’s essentially 5% off non-bonused purchases, 10% off gas/groceries, and 15% off travel.

  • ESCO

    Recently opened up a “Premier Rewards American Express Gold Card”. This card requires you to pay off your balance each month and earn points along the way. The first month our bill was over $8,500 and was of course paid in full before the due date. Half way through the second month our card was blocked at $4,000 and I was told to make a payment before the due date to have the card unblocked. We spoke to four different American Express representative including a “supervisor” named Steven Hancock who was the rudest one of all. They informed us that the “system” has to learn your spending habits and will block the card intermittently. I informed the representative that being out to dinner and having your Amex CC declined over and over is embarrassing and makes your customers feel like they have done something wrong. Stephen Hancock told me that if I want to be sure the card will go through, just check the app for “available spending” prior to every purchase for the next 6 months as there is no limited dollar amount that we should stay under to ensure we won’t be declined. Really??!!?? That is the answer? With an 800 credit score and 200k income per year I think it is ridiculous treatment of your customers. How do you even stay in business with a system like this and people like him representing AMEX. GO SOMEWHERE ELSE WITH YOUR MONEY, I WILL.

  • Alex Pereda

    I had the amex gold rewards for almost a year and I’ll probably cancel it, although if you travel a lot on the same airline you can use the $100 statement credit over incidentals, a $200 annual fee for just having a card is outrageous.

    The best you can get for points is 1 point = 1 cent, if you buy a ticket through them — have heard complains that it’s expensive compared to other sites —

    I’m starting to use my chase United Explorer card. Paying “only” $95 per year and gaining 1 mile per dolar spent at least I can get a free checked bag on domestic flights…

    You think amazon will care that my card has “gold status?!”

    • Alex Pereda

      when you cancel it, please post if they offered you something to retain you as a client…… instead of the annual fee