Amex Gold Card benefits guide 2024 (2024)

The American Express® Gold Card’s annual fee has increased by 30%, jumping from $250 to $325 (terms apply, rates & fees). Accompanying changes to the card’s benefits will soften the blow for some, but the revised features may not be enough for those who were already on the fence about the Gold Card’s overall value-to-annual-fee ratio.

Shelling out a few hundred dollars a year for the privilege of using a card is nothing to take lightly, particularly when there are scores of competing travel and foodie-friendly rewards cards with comparable, lower or no annual fees.

If you’re thinking about applying for or renewing an Amex Gold Card, our scrutinizing look at its benefits package is the objective expertise you need to make a decision.

Amex Gold Card overview

The Amex Gold Card has a long list of goodies, including statement credits galore for food and dining purchases at participating partners, monthly Uber Cash, hotel privileges, flexible balance repayment options, insurance for items you buy with the card¹ and some travel protections as well.

But the Gold Card’s biggest selling point is its potential for earning an enormous number of American Express Membership Rewards® points on everyday grub purchases. And you get the best value for Amex points by either transferring them to one of Amex’s many travel loyalty program partners or redeeming them directly for flights via the Amex Travel portal.

This constellation of travel and food-centric features ultimately makes the Gold Card’s annual fee a worthwhile expense for gourmets who find themselves away from home at least a few times each year.

Major Amex Gold Card benefits

Uber Cash

Add your Amex Gold Card as a payment method in the Uber app, and you’ll get $10 of monthly Uber Cash that can be applied toward U.S. Uber rides and Uber Eats (card must be added in Uber account to receive benefit).

Using all of your monthly Uber Cash can net up to $120 annually toward rides and/or food delivery in the U.S., which is more than one-third of the Gold Card’s annual fee. But keep in mind that unused Uber Cash doesn’t carry over from month to month, and the same “use it or lose it” principle applies to the card’s other credits discussed below.

Food and dining credits

The Amex Gold Card offers three separate credits for food and dining, which add up to a combined $304 annually if used to their maximum.

Dining purchases (not including gift cards or merchandise) made with an enrolled Gold Card from the following merchants are eligible for up to $10 in monthly statement credits:

• Grubhub
• The Cheesecake Factory
• Five Guys
• Goldbelly
• Wine.com

This benefit should be attractive to most cardholders, though usability will vary slightly depending on where you live. Grubhub works with more than 300,000 restaurants in over 4,000 cities across the U.S., Goldbelly ships to every U.S. state and there are Five Guys locations in every state except Alaska. Wine.com, however, ships to “only” 41 states.

A separate $50 semi-annual statement credit applies to purchases at U.S. restaurants that allow Resy.com and Resy app reservations (enrollment required). While this is an attractive perk for those who enjoy fine dining, it’s worth noting that Resy, which belongs to Amex, reportedly prioritizes patrons with higher-end Amex cards, like The Platinum Card® from American Express and American Express Centurion Black Card*The information for the American Express Centurion Black Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer..

All information about American Express Centurion Black Card has been collected independently by Blueprint.

On the other side of the exclusivity spectrum, cardholders can also get $7 in monthly statement credits for purchases at Dunkin’, up to $84 annually (enrollment required), where you won’t need a reservation to get your coffee and donut fix.

Hotel Collection benefits

If you stay for at least two consecutive nights at one of the 1,000+ properties in The Hotel Collection, you can get a $100 experience/property credit toward eligible charges during your stay, like food and beverage purchases or spa treatments. As a Gold Card member, you’ll also be eligible for room upgrades, a 12 p.m. check-in and late checkout (all of which are based on availability).

Insurance coverage

The Amex Gold Card offers four noteworthy insurance coverages:

• Baggage insurance: If you use your Gold Card or Amex Membership Rewards points to pay for the entire fare of a common carrier (plane, train, bus, ship, etc.) and your baggage is lost, stolen or damaged during that trip, you’ll be reimbursed up to $500 for a checked bag and $1,250 for carry-on baggage.
• Secondary car rental loss and damage insurance: When you rent a vehicle with your card and decline the collision damage waiver offered by the rental company, damage to or theft of your rental vehicle will be covered up to $50,000 and for 30 consecutive days in most countries.³
• Extended warranty: Use the Gold Card to purchase a covered item with an original manufacturer’s warranty of five years or less, and that warranty will be extended for up to one additional year. Coverage is valid for replacement costs up to $10,000 per covered item and up to $50,000 annually.⁴
• Purchase protection: If a covered item you bought with your Gold Card is accidentally damaged, lost or stolen within 90 days of purchase, it can be replaced at a cost of up to $10,000 per item. Annual coverage is limited to $50,000.¹

Some top travel cards offer additional forms of travel insurance that the Amex Gold skips out on, like trip cancellation and delay coverages.

That said, Amex’s purchase protection limits¹ are quite generous relative to the limits offered by most competing rewards cards, though the purchase protection plans for some cards, like the Chase Freedom Flex®*The information for the Chase Freedom Flex® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer., provide a longer 120-day coverage window.

High rewards rates

While the statement credits and insurance package make for nice supporting players, the Amex Gold Card’s star attraction is the heap of points it can earn for everyday purchases.

The card earns 4 Membership Rewards points per $1 at restaurants worldwide, up to $50,000 in purchases per calendar year; then 1 point per $1, 4 points per $1 at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1 point per $1), 3 points per $1 on flights booked directly with airlines or through American Express travel and 1 point per $1 on other eligible purchases.

This high rewards rate on restaurants, combined with its dining statement credits, makes the Gold Card one of the best restaurant cards on the market. Granted, as of Jan. 1, 2025, the restaurants category will be capped at $50,000 in annual restaurant spending. But according to the Bureau of Labor Statistics’ most recent Consumer Expenditures Survey, $50,000 is more than 10 times what the average American household spends annually on food away from home, so this limit should be more than enough for the vast majority of cardholders.

The Gold Card’s grocery rewards at U.S. supermarkets are also competitive. Plus, unlike some of its competitors, the card’s bonus rewards rate on flights is not limited to bookings through the issuer’s portal — it also applies to flights booked directly with airlines, giving you more opportunities to earn rewards even if certain flights are not available through Amex Travel.

According to our Amex Gold Card review, a typical household that allocates its spending onto this card would earn around 60,000 Amex points annually. These points can be worth up to $600 when redeemed for travel through the Amex Travel portal, making rewards potential with this card nearly double the annual fee.

Additional benefits worth noting

Access to Amex Offers

Amex Offers are limited-time deals listed in your Amex mobile app or online account that allow you to earn statement credits or rewards points for travel, restaurant, entertainment, apparel and other qualifying purchases. For example, if you’re in the market for a new pair of shades, a current Amex offer gives a $30 statement credit when you make at least $150 worth of purchases from Ray-Ban.

However, offers are targeted and will vary from one cardholder to the next depending on your card purchase history.

No preset spending limit

No Preset Spending Limit means your spending limit is flexible. Unlike a traditional credit card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history. Plus, the use of your card won’t affect your credit utilization. But your payment history with the card will affect your credit score.

Unlike with traditional credit cards, balances accrued on the Gold Card generally must be repaid in full by the due date each month. If, however, you do wish to periodically carry a balance, there is the Pay Over Time feature which is automatically activated on all new card accounts. This feature allows you to carry a balance and pay interest if the balance isn’t paid in full. The amount you can spend is based on factors such as purchase, payment and credit history. This feature only applies to eligible charges meeting minimum transaction amounts that can be included in a Pay Over Time balance, up to the Pay Over Time limit.

Alternatively, the Gold Card also offers a buy now, pay later-style feature called Plan It® that allows you to break up qualifying purchases of $100 or more into equal monthly installment payments with a fixed monthly fee. This feature is automatically embedded into the card and doesn’t require enrollment.

Pay with Points

Membership Rewards® points earned with the Amex Gold Card can be used to pay for flights, prepaid hotels, car rentals, cruises and vacation packages when booking through the Amex Travel portal. Points can also be used to buy merchandise online from retailers like Amazon or Best Buy, to pay for food delivery with Grubhub and more.

The value you get when paying with points varies by redemption type. For instance, redeeming for flights gets a value of one cent per point, while redeeming for most other types of travel or online shopping gets a value of 0.7 cents per point.

Transfer points

If you want to scale the value you get for Amex Membership Rewards points, you can transfer them to one of Amex’s partner airline and hotel loyalty programs, which include widely used travel brands like Delta and Marriott. Amex has over 20 total transfer partners, which is a bigger transfer network than you’ll find with competing card rewards programs like Chase, Capital One or Citi.

Point transfers can be advantageous if a flight or hotel stay you’re eyeing has an exorbitant cash price but can be redeemed for a low number of points or miles. Amex often sweetens the pot by offering transfer promotions for certain partners, in which the number of Amex points you transfer is increased by a given percentage. These transfer bonuses have recently ranged from 10% to as high as 30%.

Potential drawbacks

The Amex Gold Card’s biggest drawback is clearly its high annual fee. Some new merchant-specific credits accompanied the most recent annual fee increase, but purchase habits vary, and not every credit will be applicable to every cardholder.

Other weak spots for the Gold Card include:

• Poor value for statement credits: Retroactively applying points to purchases made with your Gold Card gives a relatively weak value of 0.6 cents per point. Some other card rewards programs, like Chase Ultimate Rewards® and Wells Fargo Rewards, offer far better value when redeeming points for statement credits.
• Limited travel insurance: While the baggage² and secondary car rental³ insurance coverages are nice, some competing travel rewards cards with comparable annual fees, like the Capital One Venture X Rewards Credit Card, offer far more comprehensive travel insurance⁵.

Not feeling confident you’ll qualify for the Amex Gold? Here’s how to check for preapproval with American Express.

Should you get the Amex Gold Card?

When considering whether or not to get the Amex Gold Card, think about the big picture: the welcome offer, rewards for your regular spending and the extra benefits outlined above.

Consider applying for or renewing the Amex Gold Card if at least two of the below circ*mstances apply to you:

• You’ll charge about $1,000 or more to your card each month. This will qualify you for the card’s lucrative welcome offer: 60,000 Membership Rewards® points after spending $6,000 on eligible purchases in the first six months of card membership. Plus, receive 20% back in statement credits on eligible restaurant purchases worldwide (up to $100 back) within the first six months of card membership. Offer ends 11/6/24. You’ll also get the option of a special white gold version of the card while supplies last.
• You spend at least $600 monthly at restaurants and U.S. supermarkets. This purchase volume will earn enough points annually to cover half the card’s annual fee, even if the points are redeemed for a statement credit.
• You expect to use at least 50% of the card’s annual statement credits on qualifying dining, food delivery and ridesharing purchases.
• You take at least two domestic flights or one international flight annually.

Frequently asked questions (FAQs)

^{For rates and fees for the American Express® Gold Card please visit this page.}

^{¹Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.}

^{²Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on Baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip.Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.}

^{³Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.}

^{⁴When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.}

^{⁵For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.}