The lack of a pre-set spending limit can be both an advantage and a disadvantage when it comes to spending with plastic. Charge cards often have this feature, and it can be dangerous for spenders who are tempted to spend more than they can afford. Others customers, who need the flexibility to make large purchases at a moment’s notice, would benefit from a card that does not limit the user. The American Express Premier Rewards Gold Card was one of the first charge cards ever introduced to consumers, and even today, it is still regarded as one of the best.
Cardholders of the American Express® Premier Rewards Gold Card will have no pre-set spending limit on purchases, but over time American Express will determine what cardholders can afford and use this as a guide for approving transactions. For new cardholders who enroll in the Membership Rewards® program, American Express offers 25,000 Membership Rewards® Points after you spend $2,000 during the first three months of card membership. You can redeem these points for a variety of reward options. The rewards program, aside from the sign-up bonus, is straightforward. Points on eligible purchases may be earned in the following categories:
- 3X points for flights booked with airlines
- 2X points at US gas stations and US supermarkets
- 1X points on other purchases
- Terms and limitations apply.
Members of the American Express® Premier Rewards Gold Card can use their points for gift cards for dining, entertainment, and to shop over 300 of some of your favorite brands. American Express cardholders will also receive opportunities to purchase exclusive tickets for select concerts, shows, and major sporting events. In addition cardholders can earn 15K points after spending $30,000 within one calendar year. Other membership benefits includes access to: Baggage Insurance Plan* when you travel, Extended Warranty* and Return Protection. *Underwritten by Amex Assurance Company. And when you book two consecutive hotel nights through American Express Travel you can receive $75 back at checkout, restrictions may apply.
Unfortunately, American Express can only provide these benefits at a premium. The annual fee on the American Express Premier Rewards Gold Card is $175, though American Express offers a $0 introductory annual fee for the first year, then the annual fee will be $175. There are other credit cards on the market today that offer similar if not better rewards for no annual fee, but among charge cards with this level of perks, the annual fee for this card could be worthwhile.
Depending on the type of purchasing power and rewards program you need, the American Express Premier Rewards Gold Card may be a great fit. Consider the amount of money you’ll save by owning this card, leverage it against the annual fee (beginning year two) and if you like what you see, consider applying for the American Express Premier Rewards Gold Card. You must have excellent credit in order to be approved for this card. Because this is a charge card, all purchases must be paid in full each and every month.
Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Important Note! The information in this article is believed to be accurate as of the date it was written. Please keep in mind that offers change frequently. Therefore, we can not guarantee the accuracy of the information in this article. Please verify all terms and conditions of any credit or charge card prior to applying.
Updated May 13, 2013 and originally published August 5, 2011. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @flexo on Twitter and visit our Facebook page for more updates.