Olympic hopefuls are going for the gold, silver and bronze. American Express is hoping consumers will go for the gold too, or maybe even the platinum. There’s no doubt that the American Express Gold card offers some clout but does it live up to it’s noble name?
The American Express Gold Card does come with a lot of extra benefits for members. After all, with American Express Gold you’re a “member,” not just a cardholder.
American Express Gold Card Member Benefits and Perks:
No Pre-Set Spending Limit: Obviously this could be a double edged sword if you are not careful but the benefit is there none the less to say “yes” and with a very few limitations you can charge what you want.
Travel Assistance: Roadside emergency assistance, rental insurance, baggage insurance and other privileges like check cashing all come with your American Express Gold card membership. Since some others that offer a portion of these services charge an annual fee, some cardholders, especially those who travel a lot, consider this an offset to the annual fee.
Shopping and Purchasing Protection: American Express Gold offers insurance on new purchases and there are also extended warranty benefits.
Rewards Points: Yes, like many credit cards, American Express Gold card offers reward points that accumulate as you use the card and can be used for travel and entertainment packages.
Entertainment Perks: Gold does have its privileges here. American Express Gold members can often obtain premium seats at sporting events or concerts and sometimes there are discounts even for the premium seats.
But what about the fees and interest with American Express Gold cards?
There are two options, Rewards Plus Gold American Express and the Preferred Rewards Gold American Express and both have a hefty annual fee. While it pays to be a gold card member, it also cost to be a gold card member.
Rewards Plus Gold- $150.00 annual fee
Preferred Rewards Gold- $130.00 annual fee
American Express Senior Card- $35.00 annual fee available only for senior citizens
American Express balances are due in full each month but for those members who carry a balance, the interest rate is 17 to 19%, which is fairly competitive.
Don’t make a payment late. The late payment fee is 2.9% or $30.00, which ever is highest.
American Express Gold card members share that each year American Express continues to sweeten the deal with more rewards, benefits and perks for members to keep their card above average.
Members also report being pleased with customer service, which is not a common rating for credit cards. American Express offers customer service on line or on the web.
Ultimately American Express Gold Cards are a worthy card that offers many benefits and perks. If you are someone who actually takes advantage of the benefits then you will often recoup the high annual fee. No spending limit can be very helpful or very treacherous depending on your own personal money management strengths.