Want to know all about American Express credit card? Then, you have landed on the right article.
In this American Express credit card In India review article, we're going to explain all the aspects of it.
Everyone loves to get rewarded, and redeeming credit card points to get the things you love is satisfaction at its ultimate level. If you are interested in getting rewarded better, then this article is for you.
American Express catches everyone's attention when it comes to financials and transactions. But, especially when travelling, American Express (AmEx) is greater than good.
American Express or more popularly known as AmEx, is a New York-based corporation that holds its speciality in credit card services. Their logo is famously visible at mall outlets, currency exchanges and at almost every location where one has the option to pay via card.
In addition, the company is known for a variety of cards, the best ones being Green, Gold and Platinum in the consumer business. Let's checkout American express credit card review.
American Express credit card In India review
The American Express Gold Card is an option that lies in the middle range for people who want to earn AmEx Rewards Points. While other credit cards offer various bonuses on dining or for spending in a supermarket.
The American Express Gold Card leads the frontier with an offer of four Membership Rewards for every dollar spent. These rewards are offered whenever one uses the card to pay for food or drink.
American Express Gold Card comes with an annual fee of $250 is mandatory for each user in the first year of spending. However, it is said that in real-life practice, the fee is covered by the rewards which are offered by the card.
Apart from the rewarding credit, the American Express Gold Card comes in two colours: Gold and Rose Gold. Members can choose between the two and go with the colour of their choice.
American Express Gold Card pros and cons
Pros:
- AmEx Gold card offers the possibility of earning a high rate on dining and purchasing in US supermarkets.
- Users have an option to transfer their points to many of American Express's partners.
- Up to 5 authorised users can be added for zero additional annual fees.
- Generous benefits are offered on Uber and dining.
- Users get baggage insurance.
- Car rental insurance is provided.
- There are zero fees on foreign transactions.
- An option of two colours is provided, rose gold and gold.
- Additional terms and conditions apply.
Cons:
- AmEx Gold card offers no lounge benefits.
- The options to carry a balance are limited.
- The annual card fee is moderately high.
- The bonus on travelling in the spending category is limited to selected flights only.
- No insurance on the trip is provided.
- High Annual Percentage Rate (APR) is levied for the feature to pay over time.
- The pay overtime penalty APR is significantly high.
- Redemption of points against non-travel options does not yield good value.
American Express Gold Card Rewards
A. Earning Rewards
- The Amex Gold card makes use of the following rewards structure:
- 4 Membership Rewards points are awarded at every dollar spent on takeout and delivery in restaurants in the United States. Every dollar spent at US supermarkets earns you four Membership Rewards points.
- Users can earn points on purchases up to $25,000 each calendar year, after which just one point is awarded for every dollar spent.
- 3 Membership Rewards points for every dollar spent on booking flights directly with the airlines or through the American Express travel. 1 point on all other eligible purchases for every dollar spent.
- In addition, the American Express Gold Card provides $120 in annual meal credits for all qualified restaurants, including Ruth's Chris Steakhouse, Cheesecake Factory, Shake Shack, Boxed, and delivery services Grubhub and Seamless.
- However, this credit may only be utilised monthly in $10 increments, and users must enrol in this perk, making it more difficult to use.
- After adding an eligible Amex Gold card to their Uber account, American Express Gold Card users also receive $10 Uber Cash per month.
- The total amount received can be up to $120 per annum, which can be redeemed for Uber rides or Uber Eats in the United States
- In addition to it, American Express Gold Card offers the users a welcome bonus of 60,000 Membership Rewards points after spending $4,000 on purchases in the first six months of card membership.
- This offer gets one a sum of at least $600 in value when redeemed for flights
B. Redeeming Rewards
- The American Express Membership Rewards points are highly valuable due to their flexibility. These points are transferable to almost two dozen airline partners, most of them at a 1:1 ratio.
- In addition, transfer bonuses are also offered, which allow the cardholders to maximise their earnings. The most common airline partners include Canada Aeroplan (Star Alliance), Delta SkyTeam, British Airways and Iberia Avios (Oneworld) etc.
- Instead of transferring funds, cardholders can redeem their Membership Rewards for a wide range of gift cards in the categories of travel, retail, and restaurants.
- Rates vary by merchant and typically range between 0.5 cents and 1 cent per Membership Reward point. Users can also use the points to pay at several vendors. Most notably, Amazon pays 0.7 cents for every Membership Reward point.
- An easy way to redeem Membership Rewards points is by booking flights at a rate of 1 cent per point via American Express Travel.
- The airline will count flights booked with points as a “cash” flight, and one may earn miles, subject to the ticket cost and the fare code.
C. Rewards Potential
- With data collected from numerous government agencies, Forbes Advisor calculated that $10,093 are spent on groceries and restaurants by a sample household.
- It directs to a potential earning of 40,372 Membership Rewards points annually in this category.
- An expenditure of $1,755 on flights would roughly earn 5,265 Membership Rewards, and other purchases amounting to $14,562 would fetch an earning of 14,562 Membership Rewards points.
- The card can earn a total of 60,199 points per annum in addition to the welcome bonus earned in the maiden year.
American Express Gold Card Benefits
The American Express Gold Card offers the following benefits-
Hotline for global assistance:
24/7 helpline for medical, financial, legal and other emergencies along with coordination and assistance services.
American Express Hotel Collection:
Cardholders receive a $100 hotel credit for spa, dining and resort privileges. It also includes a room upgrade (subject to availability) with an American Express Travel stay of at least two consecutive nights.
Baggage Insurance:
In case of loss or damage to the luggage, every American Express Gold Card comes with baggage insurance which covers up to $1,250 for a carry-on bag and $500 for checked-in baggage.
The trip, however, must be purchased with the American Express Gold Card to qualify for the cover amount.
Car Rental Loss and Damage Insurance:
When payment for a rental car is done using the American Express Gold Card, secondary rental car insurance is received in eligible regions.
However, one must first file a claim with personal insurance before filing one with American Express. Some restrictions include unavailability of coverage in certain countries and some vehicles not listed under the cover.
American Express Gold Card Review
American Express Gold Card is ideal for: Consumers searching for extra rewards at eateries and grocery stores in the United States.
Travellers and frequent explorers will also hold a likewise view of the versatile rewards points and travel benefits this card provides.
Top perks
American Express has put together a deep lineup of benefits for one of its most popular cards.
Rewards
The American Express® Gold Card earns:
- At restaurants, you get 4 points for every $1 you spend.
- 4 points every $1 spent at US supermarkets on purchases of up to $25,000 per calendar year
- On flights booked directly with airlines or through American Express Travel, you will earn 3 points for every $1 spent.
- 1 point for every $1 spent on other items
There's no doubt that 4 points for $1 is a fantastic rate, making the card one of the top choices for dining and grocery cards.
If you spend a lot of money in those categories, this rewards card can help you significantly increase your earnings.
Terms and conditions apply.
Offer for a Welcome Bonus
After spending at least $4,000 on purchases in the first six months, you will receive 60,000 extra points. Terms and conditions apply.
Annual dining credits of $120
When you use your American Express® Gold Card at participating restaurants and meal delivery services, you will receive a monthly dining statement credit of $10. GrubHub, Seamless,
The Cheesecake Factory, Ruth's Chris Steak House, Boxed, and select Shake Shack locations are among the suppliers on the menu.
Uber Cash is worth $120 each year
When you link your American Express® Gold Card to your Uber account, you'll get $10 in Uber Cash every month. This is valid for Uber rides in the United States. Terms and conditions apply.
Points for adaptability in incentives
American Express Membership Rewards includes a large number of airline and hotel partners. You can transfer your points to any partner's loyalty programme to book an award with that travel provider.
Transfers are commonly regarded as the most effective strategy to utilise American Express Membership Rewards points because they can lead to bookings worth $0.02 per point or more.
Another excellent redemption option is to book airfare through American Express Travel using the Pay with Points function.
You'll get $0.01 per point this way, and you can use your points to pay for a cash flight. Terms and conditions apply.
There is no international transaction fee.
There is no foreign transaction fee with the American Express® Gold Card (see rates and fees).
Hotel credit of $100
When you book The Hotel Collection properties with American Express Travel for at least two nights, you will receive a $100 onsite credit.
This statement credit is available for eligible activities such as dining and spa services. Qualifying activities vary by property. Terms and conditions apply.
American Express Gold Card vs other Amex cards
Specifications | American Express® Gold Card | The Platinum Card® from American Express | American Express® Green Card |
|---|---|---|---|
Annual fee | $250 | $695 | $150 |
Rewards rate | 4x points at restaurants and at US supermarkets 3x points on flights booked with the airline or Amex Travel 1 point per dollar on all other purchases | 5x points on flights booked through the airline or Amex Travel (from January 1, 2021, receive 5X points on purchases of up to $500,000 per calendar year). 5x points on prepaid hotels booked with Amex Travel 1 point per dollar on all other purchases | 3x points on travel and restaurants 1 point per dollar on all other purchases |
Welcome bonus | 60,000 points after a spend of at least $4,000 in the first 6 months of account opening | After spending $6,000 in the first six months of card membership, you will receive 100,000 Membership Rewards points. | 45,000 points after a spend of $2,000 on purchases in the first six months of account opening |
Statement credits | Up to $10 in dining credits each month (up to $120 per year) | Each calendar year, you can receive up to $200 in airline fee credits. | Up to $100 in CLEAR credit per year Up to $100 in LoungeBuddy credit per year |
Other benefits | The Hotel Collection (property credits and upgrades) Secondary car rental insurance Baggage insurance Trip delay insurance Purchase protection Extended warranty Global Assist Hotline Discounts and bonuses through Amex OffersNo foreign transaction fees | Gold elite status with access to Hilton and Marriott airport lounges (Priority Pass, Centurion lounges, and more) Fine Hotels and Resorts by American Express (benefits at exclusive luxury properties) The Collection of Hotels (property credits and upgrades) Cell phone security Insurance for additional car rentals Insurance for trip cancellation Baggage protection Trip cancellation insurance Return insurance Purchase security Warranty extension Premium Global Assistance Hotline Amex Offers provide discounts and perks. There are no foreign transaction costs. | Secondary car rental insurance Trip delay insurance Baggage insurance Purchase protection Extended warranty Global Assist Hotline Discounts and bonuses through Amex Offers No foreign |
Is The American Express Gold Card For You?
The most direct and crisp answer would be: maybe. The earning rate of 4 points per dollar of the American Express Gold Card at restaurants and supermarkets in the United States make it a fruitful choice for several individuals.
In the rewards tool compartment, the Membership Rewards are a flexible means. But in saying, so a person has to go through arbitrary tasks to make up for this credit card’s $250 annual fee along with the credits.
What is the American express credit card charges Annualy
Alternatives to consider
One can opt for the Chase Sapphire
Preferred Card for a lesser annual fee. In addition to a more economical annual fee, this card offers a handsome signup bonus and an earning rate of 2 points per $1 spent on expenses in the travel category and
3 points per $1 spent on expenses related to dining. For earning high rewards on purchases Bank of America Premium Rewards credit card has an earning rate of 2 points per $1 spent on expenses in the travel and category.
For other purchases, it offers 1.5 points per $1 spent. Rewards are even better if the person is a Bank of America Preferred Rewards client. The earning goes as high as 75% bonus on points earned.
PenFed is the Pentagon Federal Credit Union, and it was the first to offer a card with no annual fees, late fees, international transaction fees, or even cash advance costs.
While it is not a rewards card, it does give a $100 statement credit to individuals who spend $1,500 within the first 90 days of account setup, As well as promotional financing at 4.99 per cent APR for 12 months (then a variable rate of 11.99 per cent to 17.99 per cent).
To apply, you must be a PenFed credit union member, but no military service is required. While nearly all credit card issuers now have a mobile app, the Apple Card has garnered notice for its exceptional level of integration with the iPhone.
Petal is another credit card company honoured for its unique mobile app. The Petal card is tightly linked to its app, which displays how much interest you'll owe according to how much you spend.
The Apple Card gives you 3% back on Apple purchases, which is rather nice. However, suppose you are an Amazon Prime member and open the Amazon Prime Visa Signature.
In that case, you will receive a huge 5% discount on all Amazon purchases, including Apple items and accessories, as well as Whole Foods. In comparison, the Apple Card only earns 3% back on Apple purchases and for Uber
And Uber Eats when you use Apple Pay, 2% when you use Apple Pay, and 1% everywhere. The Amazon Prime Rewards card, on the other hand, offers 2% back at restaurants, gas stations, and drugstores and 1% back on all other transactions.
In addition, this card has no annual cost, and all you need is a Prime member. The Apple Card gives you 2% cashback on all Apple Pay purchases, but the US Bank Altitude Reserve goes much farther. It offers three points for every dollar spent on mobile wallet purchases, including Apple Pay and Android Pay.
These points are worth up to 1.5 cents apiece toward travel, giving you a 4.5 per cent return on your mobile wallet spending.
Frequently Asked Questions
Q1. Is Amex Gold Really Worth It?
Remember there are plenty of other rewards credit cards to consider, including ones with no annual fee. Considering the facts and figures, Amex Gold may be a good option for you.
Q2. Are Amex gold cards hard to get?
Yes, it is hard to get the American Express® Gold Card because it requires at least good credit for approval. To get the Amex Gold card, you will have to meet the credit score requirement, have a steady income and be at least 18 years old. You'll also need to have an SSN or ITIN.
Q3. Does Amex Gold have lounge access?
What's better than a lounge. You can enjoy complimentary access to premium airport lounges in over 130 countries. In addition, you are automatically entitled to use our premium Concierge Service with our Premium Cards.
The dedicated team is on call 24 hours a day, ready to care for all your lifestyle needs.
Q4. What is the Amex gold card annual fee?
The American Express® Gold Card is a great card for dining out, ordering takeout and travelling, but it comes with a relatively high $250 annual fee.
Q5. What is the easiest Amex card to get approved for?
The USAA® Secured American Express® Card used to be the easiest American Express card to obtain as it was available to people with bad credit.
Q6. What is the American express credit card charges Annually?
American Express® Gold Card - $250
The Platinum Card® from American Express - $695
American Express® Green Card - $150
