The American Express Gold Rewards card: Should You Keep It?
/The American Express Gold Rewards Card Review
First Published Date : August 12, 2015
The American Express Gold Rewards card is a flexible highbred travel rewards credit card that lets you earn American Express points for everyday purchases that can be used towards eligible travel costs without any blackout periods or restrictions.
The Cost
Annual Fee = $150. Additional cards = $0
Minimum annual income required = $20,000
Rewards Points Snapshot
– Earn 2 points for every $1 spent at eligible gas stations, grocery stores and drugstores in Canada.
– Earn 2 points for every $1 spent on eligible travel purchases.
– Earn 1 point for every $1 spent on everything else.
First Time Bonus
A 25,000-point (valued $550 or more) welcome bonus when you spend $500 within 3 months. Also, the annual fee is waived for the first year.
Anniversary Bonus
None.
Features & Benefits
– Book any travel purchases with this card and use points to pay them when appear on statement.
– This is a charge card. Balance has to be paid in full every month.
– Transfer points to Aeroplan or AVIOS at 1:1
– Emergency Medical Insurance (15 days<65, none>65 or older, Amount: 5 M/per person).
– Travel Accident Insurance (Up to $500,000 CAD).
– Auto Rental Theft and Collision/Loss Damage Insurance ((maximum $85,00)
– Trip Interruption Insurance ($1,500 each, maximum $6,000).
– Flight Delay Insurance (After 4 hrs, maximum $500 per occurrence).
– Lost Luggage (maximum $500)
– Hotel/Motel Burglary (maximum $500)
– Extended Warranty Insurance
– Purchase Security
What’s Missing
Some of the important benefits this card does not offer:
– Price Protection Insurance
– Trip Cancellation Insurance
– No Concierge services
My Take
Although the American Express Gold Rewards card is a highbred card that charges a high $150 annual fee, it is missing some important elements of insurance and services you would expect from a $150 per year credit card, and it has no anniversary bonus to consider to add it to your credit card portfolio.
For a cheaper annual fee, for example $120 per year, you will find many other cards that offer features that the American Express Gold Rewards card is missing, such as Trip Cancellation insurance, Concierge service, etc., and you will find more value for your dollar.
I personally do not hold this card as of this writing and I’m planning not to hold it after its 1st year even if I get this card in the future.
However, a point worth mentioning is that this card earns 2 points for every $1spent at gas stations, grocery stores and drugstores and then lets you convert them to Aeroplan points. This makes it a high Aeroplan earner (2 Aeroplan points for each dollar) comparing any other cards.
Disclosure: Information provided here may not be accurate and no longer valid. The mentioned card provider is not related to A Dawn Journal and neither monitor this site nor responsible for any inaccurate information. Contact the card company directly for accurate and updated information. A Dawn Journal or my YouTube Channel are not compensated by or affiliated with any credit card companies. All credit card articles are 100% unbiased and honest.
