Back in the day, American Express only issued charge cards requiring payment in full after a grace period of approximately one month. Today, AmEx has provides credit cards with revolving payment schedules. But for many people, the real prestige remains with its charge cards. The American Express Gold card is one of the top level personal charge cards.
Who Is the American Express Gold Card Designed For?
The American Express Gold card is ideal for individuals who pay off their credit card balances in full every month. Doing so allows for interest-free purchases with the luxury of an extra 30 days or so to make the payment. The Membership Rewards program is heavily weighted toward luxury items such as airline tickets and hotel stays. On the other hand, everyday purchases such as groceries and utility bills aren't rewarded nearly as much.
Are There Annual Fees?
The annual fee is waived the first year; $135 in later years and $35 for additional cards, limit 5.
Does the American Express Gold Card Offer Rewards?
The slogan for American Express is “membership has its privileges.” The statement is not an exaggeration. One of the main benefits to holding an Amex card is to get access to the Member Rewards program, which includes early access to in-demand concerts and shows, roadside assistance, baggage insurance, travel accident insurance, car rental collision damage protection, extended warranty and purchase protection.
But the American Express Gold Card also features a points program that awards 2 points for every dollar spent at amextravel.com and 1 point for every dollar spent for everything else. Points can be used for travel, merchandise, gift cards, even charity contributions.
Are There Foreign Transaction Fees?
Foreign transactions are charged a fee of 2.7 percent after conversion to US Dollars.
Are There Late Payment or Other Penalty Fees?
The first late payment or returned fee incurs a penalty of 26 dollars each. Afterward, penalties for late payment or returned payment increase to 37 dollars. Two late payments in a row or two returned payments in a row will trigger the penalty APR of 37 dollars or 2.99 percent of the amount due, whichever is greater. However, card members who bring their accounts to a current status and make six on-time payments in a row may have the penalty APR removed.