The American Express® Gold Card just got a refresh for its 60th anniversary, with new earning rates and updated dining partners — and the old $325 annual fee. (see rates and fees) On paper, it's one of the most rewarding midtier cards out there, especially if you spend a lot on food and travel. (Terms apply.)
But the headline numbers don't tell the whole story. The welcome offer isn't a flat number, the credits work only in certain places, and a few of the bonus categories have ceilings. Here are seven things worth knowing before you apply.
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1. The welcome offer isn't the same for everyone
The AmEx Gold Card's current welcome offer reads: You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted. Terms Apply.
American Express serves different welcome offers to different applicants based on creditworthiness and other factors. The good news is that AmEx lets you preview your specific offer after submitting an application without a hard pull on your credit. If you don't like what you see, you can walk away.
If you've had the card in the past, it's important to understand the card issuer's long-standing "once per lifetime" rule. It means that if you've earned a welcome bonus on the Gold Card before, you typically can't earn another one. There can be exceptions, but plan as if there aren't.
2. 5x hotel rewards come with a huge caveat
The Amex Gold's recent refresh boosted prepaid hotel earnings from 2 points per dollar to 5 points per dollar, which is a major jump. The catch is you only get that rate when you book through AmexTravel.com or the AmEx Travel app. Hotel charges paid directly to a property earn just 1 point per dollar spent.
That said, booking through the portal can mean giving up perks that often outweigh the extra points. Prepaid stays through AmEx Travel typically don't earn points with hotel loyalty programs or count toward hotel elite status. If you have elite status, you may not be able to take advantage of your perks.
In other words, if you're loyal to a hotel chain, want elite credit, or already have elite status, booking directly may be the better option. If none of that matters and the prepaid rate is the same, the portal earns more points.
» Learn more: Best hotel credit cards
3. The dining and other credits work only at specific merchants
The Gold Card comes with more than $400 in annual credits, enough to offset the $325 annual fee if you use them all. But each credit has its own rules and eligible merchants, and you could end up spending more just to maximize your credits. Here's what you can get:
- $120 dining credit: Up to $10 per month in statement credits, only at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, Wonder, Wine.com, and Goldbelly (Wine.com and Goldbelly will be removed July 1, 2026). Enrollment required.
- $120 Uber Cash: $10 per month, U.S. Uber rides and Uber Eats orders only. You'll need to add the Gold Card to your Uber account.
- $100 Resy credit: Up to $50 in statement credits semi-annually at U.S. Resy restaurants only. Enrollment required.
- $84 Dunkin' credit: Up to $7 per month, U.S. Dunkin' locations only. Enrollment required.
- Terms apply.
These credits are use-it-or-lose-it either monthly or semiannually, so anything you skip is gone for good. And they offset the annual fee only if you'd usually spend money at these specific merchants. If you don't usually spend money with these merchants, you're paying for benefits you can't easily use.
» Learn more: Best credit cards for restaurants
4. Some bonus categories have annual spending caps, though most cardholders won't be affected
The Gold Card's two best earning rates come with annual spending caps:
- Restaurants: Earn 4 points per dollar on up to $50,000 in purchases per calendar year, then 1 point per dollar spent after that.
- U.S. supermarkets: Earn 4 points per dollar on up to $25,000 in purchases per calendar year, then 1 point per dollar spent after that.
Most cardholders are unlikely to reach these caps — $25,000 at the grocery store works out to more than $2,000 a month. But big families running a lot of household spending through the card could hit the supermarket cap. If you surpass the spending cap, the card earns the base 1x rewards on all other eligible purchases for the rest of the year.
5. AmEx points can be worth more when you transfer them
AmEx Membership Rewards points are worth up to 1 cent apiece when you redeem them with the card issuer. But most redemption options give you a lower value, even if you're booking travel.
The real value comes from transferring points to airline and hotel partners, where your points can be worth far more. American Express has more than a dozen airline transfer partners, including Delta SkyMiles, Air Canada Aeroplan, Air France/KLM Flying Blue, British Airways Club, and Virgin Atlantic Flying Club. It also has three hotel partners: Hilton, Marriott, and Choice Hotels. With a few exceptions, most transfer at a 1:1 ratio.
Maximizing your rewards through transfer partners can require a lot of time and research, but if you're willing to commit, those points can become some of the most valuable currency in your wallet.
» Learn more: The best AmEx transfer partners — and those to avoid
6. You'll get Hertz Five Star status
One of the new perks from the 60th anniversary refresh: complimentary Hertz Five Star® status, which is mid-tier elite status in Hertz's Gold Plus Rewards program.
The benefits include skipping the counter at select locations, vehicle upgrades when available, access to a wider selection of cars, and the ability to add an additional driver at no extra cost (spouses and domestic partners only; other additional drivers may still incur fees). Upgrades and vehicle availability vary by location.
The perk isn't automatic, though. You'll need to enroll through Amex and register for Hertz Gold Plus Rewards before the status kicks in. It's a quick process, but easy to forget if you haven't rented a car since signing up for the card.
🤓 Nerdy Tip
Find your redemption with a partner airline or hotel chain before you transfer your AmEx points. Transfers are irreversible, so you can't change your mind if you don't find a good itinerary. The card issuer also charges a nonrefundable excise tax fee of $0.0006 per point (up to $99) on transfers to U.S. airlines. » Learn more: Credit cards with elite car rental perks
7. The card has no preset spending limit, but it's not unlimited
The AmEx Gold is a charge card with flexible spending power. This means there's no fixed credit limit like on a traditional credit card. Instead, your spending capacity adjusts based on factors like your purchase, payment, and credit history.
In practice, that means a big purchase that would max out a traditional card might go through on the Gold. But Amex can also decline a charge that's outside your usual pattern. Before a large purchase, you can use the "Check Spending Power" tool in the Amex app to see whether it'll be approved.
The other thing to know about charge cards is that most charges must be paid in full each month. The AmEx Gold Card includes Pay Over Time and Plan It® features that let you finance certain eligible purchases, but it doesn't work like a traditional credit card where you can carry a revolving balance on every charge. If you go in expecting otherwise, you can run into trouble.
Is the Amex Gold Card for you?
The Amex Gold Card makes the most sense if you eat out and shop at U.S. supermarkets regularly, you'll actually use the credits, and you're willing to learn how to transfer points to travel partners.
It's a harder sell if you don't already spend money at the merchants where you can use the credits, you won't keep track of monthly credits, you book hotels directly for elite status, or you'd just redeem points for cash back.
The refreshed benefits make a strong card stronger, but the math still depends on how you spend. Compare the credits with your habits in mind before deciding whether the $325 annual fee is worth paying.
To view rates and fees of the American Express® Gold Card, see this page.
Insurance Benefit: Baggage Insurance Plan
- Baggage Insurance Plan coverage can be in effect for Eligible Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier (e.g. plane, train, ship, or bus) when the entire fare for a Common Carrier Vehicle ticket for the trip (one-way or round-trip) is charged to an eligible Account. Coverage can be provided for up to $1,250 for carry-on Baggage and up to $500 for checked Baggage, in excess of coverage provided by the Common Carrier (e.g. plane, train, ship, or bus). For New York State residents, there is a $10,000 aggregate maximum limit for all Covered Persons per Covered Trip.
- Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply.
- Please visit americanexpress.com/benefitsguide for more details.
- Underwritten by AMEX Assurance Company.
Insurance Benefit: Car Rental Loss & Damage Insurance
- Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply.
- Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply.
- Please visit americanexpress.com/benefitsguide for more details.
- Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are some of the best travel credit cards of 2026:
- Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card
- No annual fee: Wells Fargo Autograph® Card
- Flat-rate travel rewards: Capital One Venture Rewards Credit Card
- Bonus travel rewards and high-end perks: Chase Sapphire Reserve®
- Luxury perks: American Express Platinum Card®
- Business travelers: Ink Business Preferred® Credit Card
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