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If you travel and spend a lot, this card is a great deal, if you don't mind the $175 annual fee.
Who the American Express Premier Rewards Gold Card Is For
- People who want to earn cash rewards on their credit card purchases.
Credit Rating Required
- Good to Excellent (700+)
About the American Express Premier Rewards Gold Card
Pros
- Very generous spending rewards.
- Annual fee waived the first year.
- No preset spending limit.
Cons
- High annual fee.
- Balance must be paid in full each month.
Rewards
- Three points per dollar on airfare, two points on gas and groceries, one point on everything else.
- 15,000 bonus points when you spend $1,000 within first three months of membership.
- 15,000 bonus points every year when you spend at least $30,000.
APRs
- Entire balance is due and payable each month.
- Penalty APR: 27.24 percent.
Fees
- Annual fee: $175, waived the first year.
- Late fee: Up to $35.
- Returned payment fee: Up to $38.
American Express Premier Rewards Gold Card Review
American Express Premier Rewards Gold Card isn't for everyone. You'll probably need good credit to get it. The $175 annual fee - which is waived the first year - is pretty steep. But the rewards are generous: three points per dollar on air travel, two points on gas and groceries, and one point on everything else. There's also no preset spending limit.
This is a charge card, not a credit card, which means you must pay the balance in full every month.
However, if you become eligible, Amex may give you the option to extend payment over time on certain charges. If you can't pay your bill in full each month, you should find a comparable travel rewards credit card that lets you carry a balance if you have to.
In addition to travel rewards, you can redeem the points for shopping and dining rewards in Amex's Membership Rewards program.
The American Express Premier Rewards Gold Card has other great features:
- Return protection: If you try to return an item within 90 days from the date of purchase and the store won't take it back, Amex will refund the full purchase price, up to $300 per item, up to a maximum of $1,000 annually, if you bought it with the card.
- Extended warranty coverage: extends the terms of the original U.S. manufacturer's warranty for up to one additional year on eligible purchases.
- Purchase protection: Protects covered items for up to 90 days from the date of purchase if an item you bought with the card is stolen or accidentally damaged.
Recommendation
This card is for a limited audience: People who spend a lot and travel a lot on business and want to earn rewards to travel even more. If you do spend a lot, it's easy to rack up the miles, so the $175 annual fee should be worth it.
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