Review of the American Express Rewards Gold Card



The American Express Rewards Gold Card was last reviewed on 16th January 2006

Summary - We recommend the American Express Rewards® Gold Card to those who pay their bills fully every month and would like to enjoy the numerous rewards available through the Membership Rewards Options program. The card and program allows you to earn unlimited points which do not expire. Read more....

Reward Formula - The American Express Rewards Gold Card allows the cardholder to earn one point for every dollar spent on the card. You can earn unlimited points which do not expire. You earn double points for purchases at stand-alone supermarkets, gas stations, drugstores, the U.S. Postal Service, and for wireless phone bill payments.

Other Features - The American Express Rewards Gold Card has many similar features and benefits as the Amex Green Card. Here is a quick look at these benefits.

1. Shopamex - You have access to shopamex.com, which is a comparison shopping site. You can use a combination of your card or reward points you have earned to purchase a product. If you have enough reward points, you can use it for your online purchase at shopamex.

2. Buyers Assurance - This program essentially doubles your warranty for products you have purchases up to a limit of one extra year. Coverage is good for up to a purchase of $10,000 and up to $50,000 worth of purchase a year.

3. Return Purchases Program - under this program, cardholders can return their purchase within 90 days from the date of purchase. If the retailer does not want to take back the goods, Amex will return the full value (for up to $300). You can only return up to $1,000 worth of goods within a year.

4. Purchase Protection Plan - under this plan, you can return any purchase you make if it is accidentically damaged within 90 days. You are covered up to $1,000 per occurance and up to $50,000 per year.

The American Express Rewards Gold Card also has a couple of other features that are not found in the Green Card.

5. Free Shipping and handling - With this card, you can get free handling and shipping if you purchase $50.00 or more from partner merchants. At this moment, partner merchants include, Tourneau, Gymboree, Janie and Jack, Johnston & Murphy, Nine West, Samsonite, Clinique, drugstore.com, Estee Lauder, Origins, Crutchfield.com, Discovery channel store at Discovery.com, Movies Unlimited, The Sharper Image, www.TimeLife.com, cooking.com, Gevalia Kaffe, Omaha Steaks, 800wine.com, ftd.com and Teleflora's Flower Club.

6. Best Value Gurantee - under this program, Amex will guarantee that you pay the lowest price for a purchase. If you find another place that charged less than you have paid and report within 60 days, American Express will reimburse you the difference of up to $250 per item excluding taees, shipping and handling cost. You are covered up to $1,000 per year. There are obvously some restrictions to this program. For example, getting a cheaper price from the internet is not valid. Use of discount coupons and buying something that is on "sale" is not covered. But this is still a very useful program.

7. Like all other Amex card, you can manage your accounts and pay bills online.

Membership Rewards Options Program - The reward progam of the American Express Rewards Gold Card is based on the Membership Rewards Options program, which is the no-fee version of the Membership Rewards program. It has exactly identical rewards as the regular Membership Rewards program except that in the Options program, you need to convert two points to one frequent flyer mile (versus one for one for the regular program). This is perhaps the most comprehensive reward program on the market today. It has partnered with 24 airlines, 15 hotels and has more cruise, shopping and entertainment rewards than other programs.

Fees - The American Express Rewards Gold Card has an annual fee of $90.00. Additional cards will have an annual fee of $35.00. As this is a charge card, you will have pay your bills fully every month and hence there is no apr.

Verdict - There are many reward credit cards out there with no annual fee. However, none will have the sheer number of different rewards that are available through the Membership Rewards Options program. If you pay your bills on time, make use of the unique shopping features of the card and want to enjoy the numerous rewards available, then the American Express Rewards® Gold Card card may just be the right card for you. You can upgrade to the full Membership Rewards program (for a fee) if you want to make more use of the airline miles program. If you happen to be a high spender, you might just be offered a Platinum or the famous Centurion Card down the road!

Positives
  • Excellent reward program
  • Good shopping features like "Best Value Guarantee" and "Return Purchase Protection"
  • Earn double points on "everday purchases"
  • Earn unlimited points
  • Points do not expire


Negatives
  • Annual fee



American Express Rewards Gold Card
Reward Benefits
Point Accumulation 1 point per $1 spent on purchases
2 points per $1 spent on standalone supermarkets, gasoline stations, drug stores, The US Postal Service and wireless phone bill payments
Caps on Rewards Unlimited
Expiration Reward Points do not expire
Travel and Insurance Benefits
Travel Insurance
Car rental insurance
Golabl Assist Plus
Other Benefits
Best Value Guarantee
Free shipping and Handling with select merchants
Return Protection Plan
Extended warranty
Fee free Amex travellers cheques
Online bill payment
Automatic bill payments
Cost/Fees/Interest rates
Annual Fees $90
Late Payment fee The greater of $30 or 2.9% of delinquent balance
Apply for the American Express Rewards Gold Card


If you already have the American Express Rewards Gold Card, we would appreciate if you can share your experience of this card as this will help our readers in making better informed credit card decisions and choices. You can post your review here.





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