I’ve long loved my American Express® Gold Card. It’s packed with great points-earning potential and includes some statement credits that drastically help offset its annual fee.
But now is an especially opportune time to pick up the card. Let’s check out the card.
1. It Earns Membership Rewards
American Express® Membership Rewards® are a valuable points currency. They transfer to nearly 20 airline programs (including Delta SkyMiles) and three hotel partners.
We much prefer transferrable points (i.e., Membership Rewards, Chase Ultimate Rewards®) than traditional loyalty program points. They’re more versatile for redemption — and don’t get devalued nearly as much as, say, airline programs.
Or, you can use your points to pay for travel booked through American Express. Because those purchases are considered cash fares, you’ll still earn loyalty points — even if you don’t spend a dime paying for the trip.
And if you have the card_name, you can take advantage of the 35% Pay With Points rebate and really stretch your points.
2. 4X Points at U.S. Supermarkets
My wife and I use the Blue Cash Preferred® Card from American Express as our primary card for US supermarket purchases because it earns a generous 6% cashback, which is earned as Reward Dollars that may be applied as statement credit. However, that benefit is capped at $6,000 in yearly spending. (Terms apply.)
Once we reach $6,000 we switch to the American Express® Gold Card because it earns 4X at U.S. supermarkets (on up to $25,000 in eligible purchases each calendar year).
Here’s a fun little tip: 7-Eleven stores that don’t sell gasoline code as 4X on the American Express® Gold Card.
I get propane tank refills at a local 7-Eleven and use my Amex Gold to pay for the purchase.
But 7-Elevens with gas pumps code — at least, in my experience — as gas stations, which aren’t bonused on the Amex Gold Card.
3. 4X on Restaurants (Including Delivery Services)
The American Express® Gold Card scores you 4X points at restaurants. This includes food delivery services (DoorDash, Grubhub, Seamless, etc.).
I cringe when I see people using card_name at restaurants — simply because they could earn four times as many points with the Gold card.
4. Current Welcome Bonus: Could Net You 76,000 Total Points
The American Express® Gold Card‘s current welcome bonus offers 60,000 bonus Membership Rewards points when you spend $4,000 in eligible purchases within six months of approval.
I don’t remember ever seeing Amex give new Gold cardholders six months to reach the minimum spend threshold.
Should you spend all $4,000 on dining and at U.S. supermarkets — both 4X categories — you’d pull down 16,000 points alone right there. Once that triggers the 60,000 points bonus, you’re suddenly 76,000 points richer.
If that were your strategy, each dollar spent (again, on dining and at supermarkets) while accruing the bonus would essentially be worth a whopping 19X.
We value American Express® Membership Rewards® points at about 1.5 cents each. (And that’s a little conservative). So even “only” 60,000 points is worth about $900 in travel, depending on how you use them.
5. $120 Annual Dining Credit
Many of us use food delivery services more than ever. The American Express® Gold Card gives its members a monthly, if-used $10 statement credit valid at several restaurants and delivery services:
- The Cheesecake Factory
- Ruth’s Chris Steak House
- Participating Shake Shack locations
A one-time enrollment is required.
I always start my Grubhub and Seamless purchases through the Rakuten app — and get 2% cashback on each order.
6. 3X on Select Airfares
The American Express® Gold Card‘s travel purchase earnings are admittedly a little underwhelming. The card earns 3X Membership Rewards per dollar on flights purchased directly with airlines or through AmexTravel.com. It doesn’t earn bonused travel spend in other areas such as rideshare, hotels, parking, etc., as many other cards do.
But if you buy your flights through, say, Delta.com or Southwest.com, then you should be just fine. This puts the flight purchase earnings on par with other products such as the Chase Sapphire Reserve® and American Express® Green Card.
7. Uber – Uber Eats Benefits
American Express® Gold Card members now enjoy a pair of Uber-related benefits:
- $10 in monthly Uber Cash deposits valid toward Uber rides or Uber Eats delivery purchases.
- The credit — like most Amex benefits of the same ilk — are if-used.
- That ultimately gives Amex Gold cardholders up to $120 in annual Uber Cash benefits to enjoy.
But What About the Annual Fee?
The American Express® Gold Card carries a $250 annual fee, which is not waived. (Terms apply; see rates and fees.)
I never worry about getting my money’s worth with the card, though. Here’s why:
- The $120 food credit and $120 Uber Cash deposits credit get me back $240 that I’d probably spend anyway.
- The other $20 (at least, by current card benefits) is easily earned by spending at least $350 each year in the 4X categories. (And, really, that’s easy to hit most months, sometimes weeks. Or days.) Plus, my card receives plenty of Amex Offers for bonus Membership Rewards points or statement credits. So I earn back the annual fee and then some.
Plus, if you’re new to the Amex Gold Card and meet the minimum spend requirements, you’ll have at least $900 worth of travel to enjoy.
The current American Express® Gold Card promotion is awesome for several reasons — especially because of the 60,000 bonus points and six months to meet the minimum spend.
I love that the card earns 4X in a couple of everyday spending categories: supermarkets and dining. Plus, the food credits and airline credits are great benefits, too.
To see rates and fees for the American Express® Gold Card, please visit this link. Terms apply.
Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
Chris, I agree that this is a valuable card to have. I have heard the airline credit is going to go away. I would hope something useful would replace that. I have never liked how you have to pick your airline with Amex, unlike Chase.
Another point about 4x at grocery stores. Due to the pandemic I use Walmart grocery 90% of the time and use this card as the default card for my online walmart/grocery order and it gets 4x spend. However, at self checkout, it will not give 4x.
Thanks for letting me know that I had to enroll in the dining program. I just got the card 3 days ago and didn’t know.