The American Express® Gold Card has become a favorite among foodies and frequent travelers thanks to its generous rewards program and valuable annual credits. As we head into 2024, this premium card continues to offer an enticing combination of benefits that can make it well worth the $250 annual fee for those who can maximize its potential.
At its core, the Amex Gold excels in rewarding spending on dining and groceries. Cardholders earn a market-leading 4 Membership Rewards points per dollar spent at restaurants worldwide, including takeout and delivery purchases in the U.S. They also rake in 4 points per dollar on up to $25,000 spent annually at U.S. supermarkets (then 1 point per dollar).
But the card doesn’t stop there. It tacks on 3 points per dollar for flights booked directly with airlines or through Amex Travel, making it a strong choice for air travel purchases too. All other eligible purchases earn 1 point per dollar spent.
Those rewards become even more valuable when you consider how flexible American Express Membership Rewards points are. In addition to using them to book travel through Amex’s travel portal at a rate of 1 cent per point, you can transfer points to over 20 airline and hotel loyalty programs, often at a 1:1 ratio. Transfer partners include Delta Air Lines, JetBlue, Marriott Bonvoy, and Hilton Honors.
What really makes the Amex Gold Card shine, however, are its lucrative annual credits that can help offset the $250 annual fee.
READ ALSO: The American Express Business Gold Card: A Comprehensive Review for 2024
Amex Gold Annual Credits for 2024
Up to $120 in Annual Dining Credits Cardholders can earn up to $120 in statement credits annually for purchases made with select dining partners:
- Grubhub
- The Cheesecake Factory
- Goldbelly
- Wine.com
- Milk Bar
- Select Shake Shack locations
The catch?
These credits are doled out in $10 monthly installments after you enroll, and they don’t roll over to the next month if unused. So you’ll need to make an eligible purchase each month to take full advantage.
Up to $120 in Uber Cash Amex Gold cardholders can also earn up to $120 annually in Uber Cash, which can be applied to Uber Eats orders or Uber rides in the U.S. Once again, these credits are issued in $10 monthly installments after you add your eligible Amex Gold card to your Uber account. As with the dining credits, unused portions expire at the end of each month.
Hotel Collection $100 Experience Credit: When booking a stay of two nights or more at one of Amex’s Hotel Collection properties, cardholders receive a $100 experience credit to use on qualifying dining, spa, and resort activities. This perk can provide added value when booking an upscale hotel stay.
READ ALSO: The American Express Nectar Credit Card: A Comprehensive Review for 2024
Other Amex Gold Benefits for 2024
In addition to its generous rewards structure and annual credits, the Amex Gold Card offers some useful benefits for cardholders:
Baggage Insurance Plan – Receive coverage of up to $1,250 for carry-on baggage and up to $500 for checked baggage that is damaged, lost, or stolen when traveling on a common carrier like an airline.
Car Rental Loss and Damage Insurance – Decline the rental company’s collision damage coverage and receive secondary coverage for damage, loss, or theft on eligible rentals.
Global Assist Hotline – Access to medical, legal, financial, and other emergency assistance services when traveling more than 100 miles from home.
No Foreign Transaction Fees – Avoid pesky fees when making purchases abroad during international travel.
The Amex Gold card also comes in two premium metal designs — classic gold or rose gold — allowing cardholders to choose the color that suits their style.
Welcome Bonus for New Cardholders – New applicants for the American Express Gold Card in 2024 can take advantage of the following welcome bonus:
- Earn 60,000 Membership Rewards points after you spend $6,000 on eligible purchases with your new card within the first 6 months.
Based on The Points Guy’s latest valuations, 60,000 Membership Rewards points are worth around $1,200. That’s a sizable return to help recoup the card’s annual fee for several years.
Is the Amex Gold Card Right for You in 2024?
No credit card is perfect for everyone, but the American Express Gold Card could be an exceptional choice for consumers who:
- Frequently dine out or order food delivery/takeout
- Spend a significant amount annually on groceries
- Travel by air with some regularity
- Can maximize the up to $240 in annual dining and Uber credits
- Want flexible rewards points to use for travel or transfer to partners
Hitting the $6,000 minimum spend for the elevated 60,000-point welcome bonus within the first six months is important to maximize value in year one. But even thereafter, households that align their natural spending with the Amex Gold’s bonus categories should have no trouble recouping the $250 annual fee through rewards earned, not to mention the up to $240 in annual credits.
The Amex Gold is less appealing for:
- Frugal consumers who don’t spend heavily on dining, groceries, or travel
- Those who struggle to utilize monthly or use-it-or-lose-it annual credits
- Folks who prefer simple cash back rewards over transferable points
- Anyone wanting premium travel perks like airport lounge access
In those instances, a flat-rate cash back card like the Citi Double Cash could prove to be a better fit. It earns 2% cash back on all purchases (1% when you buy, 1% when you pay your bill) and has no annual fee.
Conclusion
As a premium travel rewards card with a focus on dining, the American Express Gold Card continues to shine in 2024. Its combination of elevated earning rates at restaurants worldwide, U.S. supermarkets, and on airfare purchases make it lucrative for households that allocate significant spending in those categories.
The up to $240 in annual dining and Uber credits provide even more value, effectively reducing the $250 annual fee to just $10 for those who maximize them fully. Flexible redemption options for Amex Membership Rewards points add to the card’s appeal.
While the Amex Gold won’t be the best choice for every consumer, it stands out as one of the top rewards cards for foodies and those who frequently dine out or spend heavily at grocery stores. When coupled with the ability to transfer points to airlines and hotels, it becomes an even more compelling option for travel rewards seekers.
If frugal spending, a low annual fee, or simple cash back are priorities, other credit cards may be a better fit. But for those who can extract maximum value from the Amex Gold’s bonus categories and benefits, it has the potential to be an extremely rewarding card to carry in your wallet throughout 2024 and beyond.
READ ALSO: A Comprehensive Guide to Amex Platinum and Business Platinum Lounge Access
FAQs on the Amex Gold Card
What credit score is needed for the Amex Gold?
American Express recommends applicants have at least a good to excellent credit score, generally defined as a FICO score of 670 or higher. Those with higher credit scores will have better odds of approval.
Does the Amex Gold Card charge foreign transaction fees?
No, the Amex Gold Card has no foreign transaction fees. This makes it a good card option for purchases made internationally while traveling abroad.
Can I add authorized users to my Amex Gold account?
Yes, the primary cardmember can add up to 5 authorized users to their American Express Gold Card account at no additional fee. Authorized users gain access to benefits like car rental insurance and baggage insurance, and their purchases help the primary account earn rewards faster.
What’s the limit on 4X at U.S. supermarkets?
The 4 Membership Rewards points per dollar earned at U.S. supermarkets is capped after $25,000 in annual purchases. Beyond that level, supermarket purchases only earn 1 point per dollar.
How do I earn and use Uber Cash credits?
To utilize the up to $120 in annual Uber Cash credits (issued as $10 per month), you need to add your eligible American Express Gold Card to your Uber account. The credits can then be applied to Uber Eats orders or Uber rides within the U.S. Any unused credits expire at the end of each monthly period.
How do I earn and use the dining credits?
The up to $120 in annual dining credits (issued as $10 per month) apply to purchases made with Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar, and select Shake Shack locations after you enroll. Credits post to your account within 2-4 weeks after making an eligible purchase.
What’s the best way to redeem Amex Membership Rewards points?
The most valuable way to redeem Amex points is typically by transferring them to the program’s airline and hotel partners. This unlocks the ability to book premium-class flights or luxury hotel stays. Booking travel through Amex Travel at a rate of 1 cent per point is another solid option.
Can the Amex Gold Card offer a product change?
Yes, American Express allows cardholders to downgrade or upgrade to a different product if they no longer want or qualify for the Gold Card. Common product change options include the no-annual-fee Amex EveryDay cards or the premium Platinum Card.
In another related article, Visa vs. Amex: Which is better for international travel?
