American Express Premier Rewards Gold: A Luxurious Lifestyle Choice
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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.