Review: American Express Gold Rewards Card

This is a review on one of my all-time favourite cards – American Express Gold Rewards. Lucrative signup bonuses, high earning abilities, flexible redeem options, combined with solid insurance package makes this card a keeper!

amex-gold-card

Highlights:

  • 25,000 bonus points after combined spending of $500 in the first 3 months
  • Earn 2 member reward points for every one dollar spent at gas, groceries, drugstores, and travel purchases.
  • Earn 1 member reward points for all other purchases.
  • Ability to gain 10,000 bonus points for referrals.
  • $150 annual fee waived for first year.

Flexible redeeming options – You can transfer member reward points to a variety of participating points programs, including Aeroplan, Avios, Delta SkyMiles, SPG, Hilton HHonours, Asia Miles… etc. In addition, you can also use member reward points against all travel charges, at 1 cent per point, these will be directly deducted off your monthly statement.

 

What’s good about this card:

This card currently has the highest earning potential in the Canadian market (debatable), with double MR points for the typical gas, groceries, drugstores, and travel purchases. The rewards from this card is also  extremely flexible, therefore I would recommend you to keep the points in your account until they need to be transferred out. Once they are transferred to partner points programs, you will not be able to convert back into member reward points. Flexibility is as golden as the colour of this card, for example, you may be missing a few thousand SPG points for that luxury hotel stay you wanted, at the same time, you are also missing a few thousand Aeroplan miles for that business class ticket. With one simple transfer you are good to go on both programs!

The insurance package is simply excellent.

  • 24-hour Roadside Assistance, plus extensive rental car insurance covering vehicles up to $65,000.
  • Travel Medical Insurance to cover all medical expenses up to $1,000,000 in the first 21 days of your travel
  • Trip Interruption Insurance covers all prepaid expense in case you are not able to commence your travel due to covered reasons
  • Baggage Insurance to cover loss or damage of your checked bags up to $1000, include losses occurred in hotels/motels.
  • Global Assist Hotline, which is like a travel concierge that will take care of any issues you might have while away from home.  Lose your passport in Argentina?  Just call and have it taken care of.
  • Preferred Treatment and seating at concerts, sporting events, etc.  Get exclusive access to tickets before they go on sale, and sit with the other big spenders close to the action.
  • Purchase Protection, which means Amex will reimburse you if something you just bought gets damaged or stolen with 30 days.
  • Return Protection will give the same coverage if you want to return an item and the seller won’t accept it within 30 days
  • Warranty Extension will, as the name implies, extend a manufacturer’s warranty for up to one additional year

As with all American Express cards, you can also earn bonus points for referring the card to your family and friends, each successful referral will give you 10,000 points! I was able to get 60,000 MR points last year just from referring my parents and friends, who, of course, also loved the card and had free trips!

 

What’s not good about this card:

This is not a typical credit card, rather it is a charge card, meaning there are no set limits but you must pay your statement in full. This should not be a problem for most people, but if you are the ones that do not pay in full, this is not the card for you.

After the first year, there is an annual fee of $150 per year, charged on the first day of the second year. If you feel that the annual fee does not justify the benefits, you are free to cancel at any time. Good thing about American Express cards is that when you cancel the card at any time, if there are any annual fee charged, they will pro rate the fee and refund the remaining amount to you.

 

Final words:

This is a staple card in my wallet, and it is a card that I use whenever possible. Depending on your spending pattern and amount, while the annual fee will not be waived, but they generally offer 5000-10,000 reward points from their retention center!

Click HERE to apply for this card.

 

Note: The application links on this page are referral links, and I receive referral bonus through successful applications. To enhance the experience for my readers, I will never place any ads on my blog, referral bonus is the only source that helps me maintain this blog. If you believe the information on my site has helped you, I would really appreciate your support by going through this link. 🙂

 

4 thoughts on “Review: American Express Gold Rewards Card

  1. Pingback: All About Credit Scores – Part 2 | Travel For Less

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  3. Pingback: How To Book Around-The-World Trip with Aeroplan | Travel For Less

  4. Pingback: Trip Report – Taipei to Hongkong on the Hello Kitty Plane | Travel For Less

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