Read this American Express Preferred Rewards Gold Credit Card review to determine if this American Express credit card is the best choice for you. Once you have completed your research then either apply for the Amex Gold Card by clicking the apply button at the top of the page or use our free credit card finder to compare many different cards!
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Choosing a credit card that meets your needs takes some time spent researching and comparing before you make a decision. There are many things to take into consideration, including the costs of the credit card, the value of the rewards you can earn on the card, as well as the ease of using them, and your own spending habits.
By considering these important factors before making a credit card decision, you will avoid disappointment and frustration with your new rewards credit card.
American Express Gold Card Costs & Fees
As with many gold cards, the American Express Preferred Rewards Gold Card has a significant yearly fee. You will be paying $125 annually for the privilege of using this particular credit card. Even though the first year’s fee is waived, this is a hefty credit card fee.
If you are looking for a credit card to use infrequently and rely on for emergencies, the yearly cost of this one is too high. However, if you plan to use it regularly and take full advantage of the rewards program, it can pay off nicely for you.
Another thing to consider is that Amex Gold additional fees may find their way to your bill. It costs $35 for additional cards per year. If you are late paying your credit card, it will cost you an additional $35 or 2.99% of the balance.
American Express Gold Rewards Card Points & Benefits
The American Express Preferred Rewards Gold Card has an excellent rewards plan, as you can earn points that never expire for every dollar you spend on your credit card. You also have the option to earn double or up to 10 times the reward points by shopping in certain places. There is also no limit to the number of points you can collect and if you need more points to pay for something unique in the rewards program, you can buy extras.
When it comes to using your points, the American Express Preferred Rewards program gives you lots more options than other cards. They can be used to pay for travel expenses including airfares and more, and do not have black-out dates like so many of the reward plans do.
There is a wide variety of interesting and high-end items to choose from at shopamex.com where you can redeem points. Another interesting aspect of this rewards program is you can actually transfer points to various frequent flyer programs. You may also turn your points into gift cards for use at a variety of retailers and restaurants. The options for using your rewards are vast.
The Amex Preferred Rewards Gold Card also offers the benefit of Gold Card Events, which gives you better access to tickets to concerts, sporting events and more. Often, you can buy tickets earlier than others and get better seating. There is even an Event Ticket Protection Plan that provides for reimbursement in select circumstances.
As with all Amex credit cards, you automatically have car rental loss and damage coverage when the card is used to rent a vehicle. Any purchases made with the card have a 90 day purchase protection against theft and accidental damage. There is also travel protection that automatically comes with your American Express such as Travel Accident Insurance and Emergency Travel Assistance.
Analyzing Your Spending Habits
The American Express Rewards Gold Card is one of the many Amex cards that require you to pay it off in full at the end of each billing cycle. This means you do not incur the expense of interest charges. However, if you are an impulse shopper who sometimes spends more than you can afford to pay off in one month, this may not be the credit card for you.
Using an Amex Rewards Gold Card requires having the discipline and finances to pay it off monthly, but also the judgment to not abuse the no credit limit policy attached to this card. Because the card has no pre-set spending limit, the temptation may be too much for certain people to handle. Be honest with yourself. If this describes you, find another card.
When you are looking to make a decision about the best type of credit card for you to carry, look no further than our credit card chaser. You simply answer a few questions about your spending habits and how you want to use the card. It will help you make the best choice possible, as the website presents the information on the options available to you in an easy to compare format. Use the FREE credit card finder now!
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