Credit Cards

American Express Premier Rewards Gold Card Review

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Last updated on August 21, 2018 Comments: 9

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 they are kind enough to offer 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.

Article comments

9 comments
Anonymous says:

The thing about this card you really have to keep in mind is the annual fee after the first year. At $175, you have to at least be offsetting that with 17,500 in rewards points to be in fact reaping any “rewards”. Thus, if you’re not earning more than 17,500 points per year, you’re not really earning yielding anything extra except for the piece-of-mind afforded with the prestige and impeccable customer service for having an American Express card. The rewards earned from this card are really designed for travelers because that’s where you’re going to earn those 3X points on a regular basis. The other way to earn a lot of points is to take advantage of the online shopping promotions, some of which can earn you 10X points on purchases. Travelers might also find the automatic rental car insurance and/or roadside assistance to also offset the annual fee, depending upon how much they utilize those perks. But even all of that is ancillary with this card. The only real way to make this card work is to charge A LOT of money on it per year, and we’re talking well over $10K. The real winners are those that are charging $30K or over per year because then they’re getting a substantial point bonus on top of the aggregate rewards. Those customers have the annual fee whipped. I myself took this card’s offer for the first year, because I had nothing to lose and everything to gain. I got 50,000 bonus points for the sign-up (provided I spent $500 in the first three months–no problem) and the first year’s annual fee was waived. However, ten months into my membership, I noticed I had only charged a total of around $5,000 on the card, most of the rewards earned being 2X points on gas and groceries. Only twice did I fly at the 3X point earnings and I may have received a 5X or 10X point earning once or twice. So in ten months, I had only earned a little over 10,000 of my own points (beyond the 50,000 bonus points to start). Now subtract the annual fee that I would be paying for year two, and I would be lucky to get 2,000 rewards point out of the deal moving forward. Needless to say, I cancelled the card after the first year! Moral of the story: unless you are a BIG spender, DO NOT sign up for a rewards card that has an annual fee unless the simple math works in your favor. Gold and Platinum Amex cards are for mega-consumers with solid incomes.

Anonymous says:

Hello…thanks for sharing…how much statement credit we can get for exchanging 50,000 MR points? Or annual fee can be paid with 17500 points?

Anonymous says:

Thank you for this article. I was wondering, does cancelling a CHARGE CARD negatively effect your credit score? I have had trouble finding this answer online.

Thank you,
Josh

Anonymous says:

JON: If I remember right, MSN has a current article on this information in their finance section.

Luke Landes says:

It would have the same impact as canceling a credit card, except for one aspect. Charge cards often don’t report credit limits to reporting agencies (because they don’t have one) unlike *most* credit cards. Charge cards could make your credit utilization ratio seem higher than it really is… so canceling charge cards might lower this ratio, which is good for your credit score in the long run.

Anonymous says:

thank you. i never knew this or thought about how it could actually have a positive effect.

Anonymous says:

LOVE this card. It is great for me because my girlfriend and I have to fly back and forth to see one another. It is a great option because it saves us money for flights. I already spend the money so why not use this card and get free flights? No brainer!

Anonymous says:

They also offer this card with 15,000 point credit when you hit $30,000 spent each calendar year. This offsets most if the annual fee (if you pick the right rewards).

The link you posted doesn’t list this, but it can be found with a google search.

Anonymous says:

It’s nice that you report on various cc and what they offer. If a card has no fees, a rewards program, and a reasonable interest rate (if needed), then I’m a happy girl. I have 2 cards, both with rewards. I use one for anything I charge and the other every 6 months just to keep it opened. For me this is a fail safe method, in the event anything goes wrong beyond my control with one of the cards. It goes without saying the balances are paid off each month.