4.1
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American Express - Premier Rewards Gold Credit Card

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American Express - Premier Rewards Gold Credit Card
 
4.1

(based on 30 reviews)

Ratings Distribution

  • 5 Stars

     

    (17)

  • 4 Stars

     

    (6)

  • 3 Stars

     

    (3)

  • 2 Stars

     

    (2)

  • 1 Stars

     

    (2)

80%

of respondents would recommend this to a friend.

Pros

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Cons

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Most Liked Positive Review

 

American Express Gold: Great Credit Card if You Use the Benefits

  Most every major credit card nowadays is offered in various "levels" that correspond to extra services and, supposedly, a degree of prestige. The majority of these cards use...Read complete review

  Most every major credit card nowadays is offered in various "levels" that correspond to extra services and, supposedly, a degree of prestige. The majority of these cards use a type of metal to exclaim their clout to their cardholders and to the public. One of the many precious metal credit cards I have used over the years is the **American Express Gold**, a credit card that offers financial credit plus a little bit more. **Credit Card Benefits:** American Express Gold is a premium card from American Express that charges a higher than average annual fee in exchange for the extra services it offers. Some of the extras that you get with American Express Gold include: *No Credit Limit*- With American Express Gold, there is no pre- set spending limit. With a few exceptions, you can charge what you want when you want. *Reward Points*- Each time you use your American Express Gold, you earn points that can be redeemed for travel, entertainment, etc. *Travel Benefits*- Car rental insurance, roadside assistance, baggage insurance, emergency check cashing privileges, and other extras are included in your Gold card membership. *Shopping Benefits*- American Express Gold offers insurance on new purchases plus extended warranties and even fitness club benefits. *Entertainment*- It is possible to get premium seating for concerts and sporting events plus reduced prices on tickets to non- premium seating when you hold the American Express Gold card.  **Credit Card Fees/Charges: **American Express Gold charges a higher fee than most credit cards. This fee is presently set in the $130 to $160 range, depending on the card you select. Senior citizens can save some money on these fees by signing up for the American Express Senior Gold Card. This card offers a cut- rate annual fee of less than $50 per year. American Express also has joint ventures with other financial services and it is common to receive a reduced annual fee if a customer has an account with one of these partners.

American Express Gold expects its members to pay the balance in full each month. If a balance is carried, it will be assessed an interest charge which is a little higher than that of other credit cards. There is also a late fee if the monthly payment is not received by American Express on the designated date. **Credit Card Commentary:**

American Express Gold was one of the first premium credit cards and it is also the first premium card I ever used on a regular basis. I was lured into the world of American Express Gold many years ago as the result of a promotional offer that waived the annual fee for the first year.

Special benefits are the primary reason why many new customers sign up for the American Express Gold Card. Some of the benefits- like baggage insurance, ATM access, etc- are commonplace with most major credit cards nowadays. But American Express Gold offers a little bit more than the other big- name cards like Visa and Mastercard with its entertainment benefits, travel rewards, and other broad- range benefits. I have noticed that American Express Gold continues to sweeten the pot each year with more and more benefits to keep the card competitive with other credit cards that bear an annual fee. Travel benefits are one addition and American Express probably added this one to compete with the Visa and Mastercard offers that include rewards of various types based on point accumulation from ordinary purchases. The reward points here are a little better than other cards because with American Express Gold, members have the option of transferring the reward points to their own frequent flyer or frequent hotel account, for faster accumulation of travel awards. Most Visa and Mastercard credit cards are specific to one hotel or airline and the points cannot be transferred. American Express Gold offers greater flexibility and more options.  Interest rates on American Express Gold are a little higher than with most Mastercard and Visa accounts and this is likely intended as a way to penalize members who don't pay their bill in full each month. The overall benefits of American Express Gold are good and they easily outweigh the negatives (like having a higher interest rate) but one needs to ask themselves how likely they will be to use these benefits before they sign up. In fact, this is probably the number one consideration to make when deciding on whether or not to sign up for an American Express Gold Card. It's like choosing to stay at a fancy hotel vs. a basic hotel. The fancy hotel might have nice amenities but if you have no intention of using the amenities, then why would you want to spend the extra money to stay at a fancy place? The same is true with American Express Gold. If you know you will take advantage of the many different offers, then it would be very easy to get your money's worth from this card. Otherwise, you are better off sticking with a no- fee Mastercard or Visa. The American Express Gold Card is a very good card overall and it offers great benefits and great customer service that can be accessed 24/7. It is a better card than the standard American Express and it makes a good choice for people who like to travel and could use the extra insurance benefits that Gold provides.

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Most Liked Negative Review

 

AMEX Rewards Plus Gold Card -- A Little Pricy for this Economy

I carried the American Express Rewards Plus Gold Card for more than a decade when I finally decided to cancel my membership.  The problem with the card isn't that it is a bad...Read complete review

I carried the American Express Rewards Plus Gold Card for more than a decade when I finally decided to cancel my membership.  The problem with the card isn't that it is a bad card.  It isn't.  It isn't that you don't get rewards.  You do.  However, the rewards that you receive for the price you pay (the "value" of the card) has gone down in relative terms when compared with other cards.

This is a charge card, not a credit card (although I did have a credit "feature" that allowed me to designate transactions over a certain dollar amount and travel-related purchases as "payable over time"), and it does not come with a "credit limit" per se (American Express can reject charges if they are out of line, something that never happened to me even though I sometimes charged up to $5,000 in one month).  However, this is not the limiting factor.

The problem is with the rewards.  While you do get a nice bonus of 1.5 points for every dollar you spend on travel, you do have to use the card a lot for travel to make it worthwhile.  Furthermore, other cards offer more in travel benefits (this is especially true for airline-affiliated cards that can give you lots of points as "bonuses" to sign up but I also have other cards that offer up to 3x the points for travel).  Furthermore, the rewards typically are in the form of gift cards as opposed to being able to get them for cash without accumulating even more rewards (for example, to get $100 in gift cards takes 10,000 points -- you would need 20,000 points to get a check for $100).  This would require $20,000 in non-travel purchases.  Compare that to some rewards cards that carry no annual fee that only require $10,000 in generic purchases to qualify for $100.

The service, on the other hand, is excellent.  Wait times are very low and the customer service representatives have the authority to assist you, which is very nice.  That being said, there are other cards from American Express (Optima, Blue) that can provide this service for you and are full credit cards.  Some of these American Express cards have even better cash back features (American Express Business Card).

Then there is the fee: $150 a year.  Honestly, if it were not for the fee, this card would still be in my wallet but, in these tough economic times, I cannot justify it, especially when I am cutting down on expenditures.  Realistically, you need to be charging, on average, over $1,250 *a month* to make this card break even in terms of cost.  While I used to do that and thought nothing of using it (and the year end summary of charges *is* one of the best in the business), times are tough now and I cannot continue at this level.  I continue to carry other Amex cards that do not carry annual fees in my wallet and do appreciate their excellent service but sometimes excellent service comes at too high of a price.

Reviewed by 30 customers

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1.0

bad

Comments about American Express - Premier Rewards Gold Credit Card:

this is easy for hack

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5.0

I like this credit card it's good for using it

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By 

from ARMENIA

Comments about American Express - Premier Rewards Gold Credit Card:

it is the safe to use it in internet

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5.0

This card is a big deal...

By 

from USA

Comments about American Express - Premier Rewards Gold Credit Card:

I have always been a fan of American Express. I have held a number of their credit cards over the years and have been very happy with them and how they do business. This card was my very first American Express card, and I really love the prestige of having the card and pulling it out when I needed to make a purchase. This card can be used everywhere and people accept it gladly. What I really like about this particular card is you have pay the balance in full or you have the option of holding over the balance, whichever works for you from month to month.

Customer Service
They really have a great customer service department. They are very knowledgeable about what American Express offers to it's customers and if they can do something to make it better for the customer

Available Rates
At the time I had this card, they did not have rates. They did not have late fees, or anything like that. I recommend this card highly.

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5.0

Great for airfare and food

By 

from USA

Comments about American Express - Premier Rewards Gold Credit Card:

I've had this card for only around 2 years now, but realized this is an amazing card. While there are some drawbacks to this card, overall it's one of my favorites.
The amount of points you can gather with this card is quite nice. The card gave me over 40,000 points for simply meeting spending requirements my first year, and 15,000 bonus points last year.
My advice for this card is use it for flight tickets and groceries. I get 3 points for every dollar spent on airfare and 2 per dollar at a grocery store.
What I don't like about the card is the high $175 fee. It really takes away from the rewards program. I only earned around $600 worth of points last year and taking $175 away is a big hit. In my opinion, to make this card worth it, use it mostly on airfare and groceries and whatever else you need to reach $30,000 in one year to make it worth the high cost.

Customer Service
I know I can always speak to a real person and don't have to go through some automated system for too long.

Available Rates
You must pay every month, so there are no interest rates.

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4.0

Good Perks, Fair Cashback rewards for an annual fee

Comments about American Express - Premier Rewards Gold Credit Card:

This card definitely has some good perks such as travel insurances for luggage, rental cars, etc. I have filed a couple of claims in the past for lost or stolen luggage and my claim was taken care of quickly and without a lot of hassle. Although two thing could definitely be better with this card. One is the $90 annual fee. I feel that if i am already paying $90 I might as well pay $300 and get the Platinum card and get much better perks (including airport lounge access), but if you are only going to do a small amount of traveling and what that piece of mind than the Gold card would be the one for you. The second is that the cashback rewards is not that good. It is effectively 1/2 cent per dollar spent (Even though they give the perception that it is 1 cent / $ +).

Anyway if you are doing a lot of traveling I would get the Platinum over the Gold card hands down.

Customer Service
Customer Service is Excellent. Every time that I have called in with a question or to file a claim, everything has been completed to my satisfaction in a quick and efficient manner. I was never given any hassle for claims that I was filing.

Available Rates
The rates were decent for American Express. I never carry a balance on my card so I am probably not the person to ask for this aspect. Although there are definitely a lot of better cards out there with lower interest rates. This card is for someone that does a lot of traveling or going abroad for the convenience and insurance.

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5.0

They are on your side!

By 

from USA

Comments about American Express - Premier Rewards Gold Credit Card:

American Express truly exemplifies great customer service by proving time and time again that they are at your service. From fraud to theft, I've had many issues cleared promptly through their service. I've never had a negative impression as they are truly professional and work out of their way to please you. Also, they have a great membership rewards program with great selections of merchandise and gift cards to redeem. I started off with twenty thousand points through a promotion so try to look for one when signing up. They also have a great policy for returns even if the stores themselves won't accept it. I've had many instances where i was able to return items through this policy. However be aware that their interest rates are higher, so you should pay off your balance every month. And regarding the annual fee, for my first year, my fee was waived so take advantage of the trial period and spend away knowing you are in great hands.

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5.0

I appreciate having this card.

By 

from USA

Comments about American Express - Premier Rewards Gold Credit Card:

I've had this card in my wallet for 6 years and am not disappointed. The customer service is great, it is accepted at all but one of the places I regularly shop, and the reward points are helpful. Also, like some of the other reviews mention, this card does have higher annual fee than most other cards avsilable and each year I evaluate and decide if it's still a good fit for our family's needs or not. So far the answer has been yes with no regrets. Those reward points are enticing and the discipline of paying in full each month works well for us.

Available Rates
This card has no monthly interest given the fact that it's paid off in full each month. I appreciate this feature because it allows for reward points to be earned without interest being charged. I know there are other options available than this one but have never explored them. Perhaps it would be worth checking into at some point in the future, I like having the options there if I ever want to use them.

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5.0

Great for small businesses

By 

from USA

Comments about American Express - Premier Rewards Gold Credit Card:

We applied for and use an American Express Gold Card for our small business, and have been mostly happy with it. While this is called a credit card, you can't carry a balance and are expected to pay off the balance each month. For our purposes, this has had good and bad points.

On the downside, if things every get very tight the company can't carry the balance for a few months until cash flow increases. American Express also isn't accepted in as many places as Visa or Mastercard, but anywhere of signifigant size will accept it. We have honestly only had one issue with a vendor who didn't, and I think they used a strange system. Compared to our Wells Fargo card, their website is surpisingly spartan but you can do most of what you need to do.

However, for our needs all the downsides are more than made up for by the benefits if you qualify. In our case employees are able to make company purchases for small to mid-range items without having to deal with paperwork or purchase orders, and if (heaven forbid) something goes wrong you have the might of an 800 pound corporate gorilla in your corner fighting for you. This has happened, and brings is us to the next upside: American Express' customer service. When we did have these issues, help was a phone call away with little to no hassle or stress on our end.

In terms of rewards, you are looking at a straight 5% cashback in points which can eventually be converted to cash or their catalogue of benefits (we just use cash back). 5% isn't a lot when you're buying toiletries, but when you are purchasing bigger ticket items it can add up.

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5.0

The most flexible rewards card

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from USA

Comments about American Express - Premier Rewards Gold Credit Card:

Rewards are great! The rewards are very flexible, you can choose from a wide variety of products, but he retail gift cards are my favorite. Customer service is excellent, the reps are very knowledgeable about the product. They are very friendly and helpful and they do not push you to buy products you do not need.

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4.0

Be Aware of Pay Over Time Features

Comments about American Express - Premier Rewards Gold Credit Card:

I originally got the AMEX gold card for the unlimited spending limit, 0% APR, and rewards points. About a year into my membership I was offered the Pay As You go program which allowed purchases over $100 to be broken up into monthly payments. I signed up for this program at a 20% APR. I used this card frequently but always paying on time over the minimum payment due. My interest rate continued to increase, I believe it is currently around 27%. My once unlimited spending capability is now gone, replaced with a $9900 limit. I had recently made a four-digit purchase with this card thinking the pay over time program would break it up into smaller payments. To my dismay, when I received my last statement the entire purchase on top of several other purchases were due. I called customer support to try to get an explanation on why my bill was so high. Despite being extremely polite and friendly, the only thing they could tell me was that my pay over time abilities were removed and that I was recommended to use my AMEX blue card for purchases I could not pay in full. Explaining that I had always paid on time and above than the minimum payment I inquired why this feature had been removed but the representative could not provide an explanation regardless of my "excellent" history with them. I had never received any notification that I was removed from the pay over time program.

On the upside, compared to other companies I have dealt with in the past AMEX has excellent customer service. Their rewards program is by far the best that I have been enrolled in. I earn points fairly quickly and have a large variety of options when it comes time to redeem them.

I will continue to use my Gold card frequently being cautious of the high interest rate and removal of the pay over time feature.

Customer Service
Customer Service representatives are professional and friendly even though they may not be able to answer your questions completely.

Available Rates
Increasingly high interest and very high membership fee.

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