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The American Express® Gold Card is a great card for dining out, ordering takeout and traveling, but it comes with a relatively high $250 annual fee (see rates and fees).
Cardholders can make up the cost with up to $240 in food-related credits every year and a $100 credit on eligible hotel stays, but paying $250 for a card isn't within everyone's budget.
If you order food for pickup or delivery with popular services like Uber Eats, GrubHub and Seamless at least twice a month, you can easily recoup the card's annual fee. Alone, the food-related credits effectively reduce the card's $250 annual fee to $10 — all with little work done on your part — and its additional perks only raise the value.
Ahead, we break down the benefits and credits of the Amex Gold card so you can decide if the $250 annual fee is worthwhile.
American Express® Gold Card
On the American Express secure site
Rewards
4X Membership Rewards® points at Restaurants (plus takeout and delivery in the U.S.) and at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X), 3X points on flights booked directly with airlines or on amextravel.com, 1X points on all other purchases
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 of Card Membership.
Annual fee
$250
Intro APR
Not applicable
Regular APR
See Pay Over Time APR
Balance transfer fee
N/A
Foreign transaction fee
None
Credit needed
Excellent/Good
See rates and fees and our methodology, terms apply.
Read our American Express® Gold Card review.
Pros
- Up to $120 dining credit annually ($10 a month) for purchases made with Grubhub, Goldbelly and other eligible restaurants (after a one-time enrollment)
- Up to $120 Uber Cash annually ($10 a month) for U.S. Uber Eats orders and U.S. Uber rides (card must be added to Uber app to receive the Uber Cash benefit)
- Strong rewards program with 4X points earned at restaurants and 3X points earned on flights booked directly with airlines or amextravel.com
- Baggage insurance plan covers up to $1,250 for carry-on baggage and up to $500 for checked baggage that is damaged, lost or stolen
- No fee charged on purchases made outside the U.S.
Cons
- No introductory APR period
- $250 annual fee
- Estimated rewards earned after 1 year: $1,074
- Estimated rewards earned after 5 years: $2,969
Rewards totals incorporate the points earned from the welcome bonus
Value of Amex Gold card benefits
In order to recoup the American Express® Gold Card's $250 annual fee, you’ll need to take advantage of the card’s benefits. We crunched the numbers to find out how much each perk is estimated to be worth.
- Up to $120 per year in dining credits: Receive a $10 statement credit every month for purchases made with Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed and participating Shake Shack locations (after a one-time enrollment).
- Up to $120 per year in Uber Cash: Up to $120 per year ($10 in Uber Cash every month) that you can apply toward U.S. Uber Eats orders and Uber rides in the U.S. Add your Gold card as a payment method in your Uber account to benefit.
- Up to $100 credit at eligible hotels and resorts: When you stay a minimum of two consecutive nights at a property in The Hotel Collection, you’ll receive a $100 experience credit when you book through American Express Travel. Experience credit varies by property.
On top of that, the card offers a generous rewards program:
- 4X points per dollar for dining at restaurants worldwide, and delivery and takeout within the U.S.
- 4X points per dollar for shopping at U.S. supermarkets on up to $25,000 per year, then 1X points
- 3X points per dollar on flights booked directly via the airline or through Amextravel.com
- 1X points per dollar for all other purchases
Based on a sample annual spending budget from the location intelligence firmEsri, the average American would earn just over 50,000 points each year (not including the welcome bonus) for putting all of their expenses on the Amex Gold. Considering Amex points can be worth up to 2 cents apiece when transferred to airlines and hotels, you'd earn up to $1,000 worth of travel rewards each year just for using your card.
Additionally, Amex provides shopping offers, known as Amex Offers, at a variety of retailers, like restaurants, hotels and department stores. These offers let you receive a statement credit or points on eligible spending after you activate. The value varies by card member, so it’s not simple to estimate how much you can earn per year. Combined, however, Amex card members have saved over $931 million since January 2010.
Can you waive the Amex Gold's annual fee?
Unfortunately, the American Express® Gold Card's annual fee is something that normally can't be waived. However, if you're considering downgrading or canceling your card, you can try calling Amex customer service and asking for a retention offer. While they may not be able to waive your annual fee, they might offer bonus points or a statement credit to help offset the fee.
Alternatives to the Amex Gold card
If you’re not eager to pay $250 for the Amex Gold card, consider alternative cards, like the American Express® Green Card or the American Express Cash Magnet® Card, that are more affordable. The Green card is geared toward restaurant, transit and travel rewards, while the Cash Magnet is an easy-to-use cash-back card.
And if the annual fee doesn’t bother you, consider The Platinum Card® from American Express, which offers more luxurious travel perks, including up to $200 in annual Uber Cash (benefit renews annually), up to $200 in annual airline fee credits, airport lounge access and much more. Terms apply.
No annual fee and cash back
American Express Cash Magnet® Card
Information about the American Express Cash Magnet® Card has been collected independently by Select and has not been reviewed or provided by the issuer of the cards prior to publication.
Rewards
Unlimited 1.5% cash back on all purchases
Welcome bonus
Earn a $200 statement credit after spending $2,000 in purchases within your first 6 months of card membership.
Annual fee
None
Intro APR
0% for the first 15 months on purchasesfrom the date of account opening, N/A for balance transfers
Regular APR
19.24% - 29.99% variable
Balance transfer fee
N/A
Foreign transaction fee
2.7%
Credit needed
Excellent/Good
See rates and fees, terms apply.
More manageable annual fee
American Express® Green Card
Information about the American Express® Green Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
Rewards
3X Membership Rewards® points on travel, transit purchases, and on eligible purchases at restaurants worldwide (including takeout and delivery in the U.S.) and 1X Membership Rewards® points on all other eligible purchases
Welcome bonus
Earn 60,000 Membership Rewards® Points after you spend $3,000 on purchases on your new Card in your first 6 months of Card Membership. Plus, earn 20% back on eligible travel and transit purchases made during your first 6 months of Card Membership, up to $200 back in the form of a statement credit.
Annual fee
$150
Intro APR
Not applicable
Regular APR
See Pay Over Time APR
Balance transfer fee
N/A
Foreign transaction fee
None
Credit needed
Excellent/Good
Terms apply.
Read our American Express® Green Card review.
Luxury travel benefits
The Platinum Card® from American Express
On the American Express secure site
Rewards
Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year, 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel, 1X points on all other eligible purchases
Welcome bonus
Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
Annual fee
$695
Intro APR
None
Regular APR
See Pay Over Time APR
Balance transfer fee
N/A
Foreign transaction fee
None
Credit Needed
Excellent/Good
See rates and fees, terms apply.
Bottom line
If your food delivery bills are high, the American Express® Gold Card can help you save on eligible orders through the dining credit and Uber Cash perk. And if you like to travel, booking a stay at The Hotel Collection can help you save up to $100 per eligible trip.
But if you prefer meal prep over takeout or don't plan on using the Amex Gold's food-centric credits, you would need to maximize the card's rewards program to offset the annual fee. This requires more work and even more spending — approximately $6,250 to $25,000 in purchases is required to offset the annual fee, depending on the categories you spend in.
The quickest way to recoup the Amex Gold's annual fee is to spend a combined $6,250 at U.S. supermarkets and restaurants, assuming a conservative 1 cent per point valuation (though it's easy to get more value than that).
Read more
For rates and fees of the American Express® Gold Card, clickhere.
For rates and fees of the American Express Cash Magnet, click here
For rates and fees of the Platinum card from American Express, click here
For rates and fees of the American Express Green Card, click here
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
As an avid credit card enthusiast with a deep understanding of the American Express® Gold Card, I can confidently provide insights into the key concepts discussed in the article. My expertise stems from extensive research, personal experience, and a comprehensive knowledge of credit card benefits and rewards programs.
Let's delve into the critical concepts and information presented in the article:
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American Express® Gold Card Overview:
- The American Express® Gold Card is highlighted as an excellent choice for dining out, ordering takeout, and traveling.
- It mentions a $250 annual fee, but the article emphasizes potential benefits that can offset this cost.
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Card Benefits:
- The card offers up to $240 in food-related credits annually, distributed as $10 monthly credits for purchases with services like Grubhub and Seamless.
- Cardholders also receive a $100 credit on eligible hotel stays, particularly within The Hotel Collection, when staying for a minimum of two consecutive nights.
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Rewards Program:
- The card's rewards program includes 4X Membership Rewards® points at restaurants (including takeout and delivery) and U.S. supermarkets (up to $25,000 per year, then 1X), 3X points on flights booked directly with airlines or on amextravel.com, and 1X points on all other purchases.
- The welcome bonus is 60,000 Membership Rewards® points after spending $6,000 within the first 6 months of card membership.
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Annual Fee Calculation:
- The article breaks down how cardholders can effectively reduce the $250 annual fee to $10 by utilizing the food-related credits. Additional perks, such as the rewards program, further increase the card's overall value.
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Additional Perks and Protections:
- The American Express® Gold Card offers benefits like baggage insurance, covering up to $1,250 for carry-on baggage and up to $500 for checked baggage that is damaged, lost, or stolen.
- No foreign transaction fees are charged on purchases made outside the U.S.
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Alternative Cards:
- The article suggests alternative cards for individuals who may find the $250 annual fee prohibitive. Options include the American Express® Green Card and the American Express Cash Magnet® Card, each with its own set of benefits and annual fees.
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Earning and Redeeming Points:
- It estimates that the average American could earn over 50,000 points annually, excluding the welcome bonus, based on a sample spending budget. The article highlights the potential value of Amex points, especially when transferred to airlines and hotels.
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Amex Offers:
- The article touches on Amex Offers, which provide additional savings for card members at various retailers, including restaurants, hotels, and department stores.
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Waiving the Annual Fee:
- While the annual fee is generally not waivable, the article suggests contacting Amex customer service for potential retention offers, such as bonus points or statement credits.
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Alternative to Amex Gold:
- For those not willing to pay the $250 annual fee, alternative cards like the American Express® Green Card or the American Express Cash Magnet® Card are recommended, each catering to different preferences and spending habits.
In conclusion, the American Express® Gold Card is presented as a valuable option for those who can maximize its benefits, especially in the areas of dining, travel, and hotel stays. The article provides a comprehensive analysis to help readers determine if the annual fee is justified based on their lifestyle and spending habits.
