The American Express Gold Card is one of my favorite credit cards in 2021 because its many benefits and credits make the $250 annual fee worth it to me. But not everyone should get the Amex Gold unless they consider these 4 things about this credit card before submitting their Gold Card application. As long as you can use the credits that American Express gives its Amex Gold cardmembers and as long as you know how you will redeem the Membership Rewards Points that the Gold Card will earn you, then you will probably like this credit card as much as I do.
The Amex Gold gives cardmembers 2 monthly $10 credits that must be used each month or you lose them. These credits are a $10 Uber credit and a $10 dining credit for use with select American Express partners. If you use all of these monthly credits each year, then your annual fee for the American Express Gold card will only be effectively $10 per year.
Another thing to consider is the Membership Rewards Points that you will earn. These can be redeemed for travel through transfer partners with American Express and this will give you the most value for your points. If you don’t plan to use these points for travel, then don’t redeem them for a statement credit or at Amazon. Just always make sure to get at least more than 1 cent per point when redeeming your points.
Right now, American Express is offering a record high welcome bonus for the Gold Card as you will receive 75,000 Membership Rewards Points after you spend $4,000 on your Amex Gold in the first 6 months that you have it. This makes right now one of the best times to get this card because you are only eligible for an American Express credit card welcome bonus once in your lifetime, so you need to make it count.
Additionally, if you are planning on getting multiple credit cards each year, make sure that you prioritize Chase cards first if you are under the 5/24 rule. Do this before you apply for the American Express Gold Card.
Overall, the Amex Gold is a great credit card because it earns at lot of points on food purchases at restaurants and grocery stores!
Check Out Some of My Other Videos!:
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DISCLAIMER: I am not a financial advisor and the opinions in this video are my own. This video is for entertainment and educational purposes only. You must do your own research and should talk to professionals before making any financial decisions for yourself.
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