How the Amex Gold Card Can Easily Pay for Its Annual Fee Almost 5X Over

Published on Nov. 17, 2024

Steven Porrello

By: Steven Porrello

Writer

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KEY POINTS

  • The Amex Gold Card's statement credits are valued at $240, while the public welcome offer could equal $600 (terms apply). 
  • Spending $12,000 annually at U.S. supermarkets and restaurants worldwide could add another $480 of value (terms apply).

The American Express® Gold Card is one of American Express's most compelling cards. Any time a card can pay for its own annual fee in the free perks it dishes out, it's worth pausing and asking if it's right for your wallet. 

With generous rewards on worldwide restaurants and U.S. supermarkets, yearly statement credits, and a welcome offer, the American Express® Gold Card can easily pay for its annual fee of $325 more than fivefold (see rates and fees). Here's how. 

Ratings Methodology

American Express® Gold Card

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American Express® Gold Card
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Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Apply Now for American Express® Gold Card

On American Express' Secure Website.

Terms apply

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Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Good/Excellent (670-850)

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Rewards Circle with letter I in it. Earn 4X Membership Rewards® Points at restaurants worldwide (on up to $50,000 per calendar year in purchases), and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X). Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.

1X-4X Membership Rewards® Points

Annual Fee

$325

Welcome Offer Circle with letter I in it. Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.

60,000 Membership Rewards® points

  • This card offers considerable value, as it earns 4X points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X) and 4X points at restaurants. Plus, earn 3X points on flights booked directly with airlines or on American Express Travel. Meanwhile, over $500 in value annually can potentially offset the entire $325 annual fee. (Terms apply.) Overall, it’s an incredibly lucrative card for those who spend a lot in its bonus categories and can use its spend credits.

    • Impressive welcome offer
    • Restaurant rewards
    • U.S. supermarket rewards
    • Travel and dining credits
    • High-value rewards points
    • Annual fee
    • Inflexible spending credits
    • Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
    • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
    • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
    • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
    • Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
    • Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
    • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
    • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations.
    • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
    • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
    • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges with every booking of two nights or more through AmexTravel.com. Eligible charges vary by property.
    • No Foreign Transaction Fees.
    • Annual Fee is $325.
    • Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
    • Terms Apply.
• Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. • Please visit americanexpress.com/benefitsguide for more details. • Card Members are responsible for the costs charged by third-party service providers. • Trip delay insurance underwritten by New Hampshire Insurance Company, an AIG Company.
 • Extended warranty, baggage insurance plan, car rental loss & damage insurance, and purchase protection warranty underwritten by AMEX Assurance Company.

The annual fee is covered by the card's perks 

First, let's talk about the free perks. As an Amex Gold Card holder, the following credits are at your disposal: 

  • $120 in annual Uber Cash: Cardholders get $10 in monthly Uber Cash by adding their Gold Card to Uber, eligible for use on Uber rides and UberEats orders in the U.S. Terms apply. 
  • $120 in annual dining credits: Get $10 in monthly dining credits when you use your American Express® Gold Card at select participating restaurants and food delivery services, including Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required. Terms apply. Enrollment required. 
  • $100 hotel experience credit: When you book The Hotel Collection properties with American Express Travel for stays of at least two nights, you can receive a $100 onsite credit to use toward certain qualifying activities, like dining or spa treatments. Terms apply. Benefit varies by property. 

The two statement credits add up to $240 in annual value. If you were to take advantage of one hotel experience credit within a given year, that would add another $100 of value. The statement credits, plus one hotel experience credit, would cover the card's $325 annual fee, plus put you $90 ahead (see rates and fees). 

The card's welcome offer could add $600 in value 

New cardholders of the American Express® Gold Card can earn 60,000 Membership Rewards® points after spending $6,000 on eligible purchases within the first 6 months of card membership. Terms apply. If you were to get $0.01 per Membership Rewards® Point, this would equal $600 in value. 

Foodies and travelers could earn a lot of points at restaurants worldwide and U.S. supermarkets 

Yes, if you eat food and travel, this card was made for you. 

As an Amex Gold Card holder, you'll earn 4X Membership Rewards® Points at restaurants worldwide, 4X Membership Rewards® Points at U.S. supermarkets up to $25,000 each year in purchases, and 3X Membership Rewards® Points on flights booked directly with airlines or on amextravel.com. Terms apply.

How much are points worth?

Like other travel cards that earn points or miles, the value of your Membership Rewards® Points will depend on how you use them. Typically, if you redeem your points through the American Express travel portal, the value will be $0.01. But if you transfer your points to one of Amex's transfer partners, you could get more value. 

In fact, it's not unheard of to get $0.02 per point when you transfer your points to certain partners. Terms apply. 

So, let's say I spend $1,000 at restaurants and U.S. supermarkets each month, or $12,000 each year. By putting all this spending on the Amex Gold Card, I'll earn 48,000 Membership Rewards® Points. I'm going to transfer these points for a valuation of $0.02 apiece. That gives me $960 in value.

This plus the card's statement credits and one onsite experience credit would cover the card's annual fee more than fivefold. That's without the welcome offer, too. 

Now, let's say I redeem these points through the American Express Travel Portal for $0.01 apiece. That gives me $480 in value. This would become $1,080 in total value if I also got the card's public welcome offer of 60,000 Membership Rewards® points Membership Rewards® Points when spending $6,000 on eligible purchases in the first 6 months and $1,420 if I added in the statement credits and onsite experience credit.

That, too, is more than five-times the card's annual fee of $325! 

As you can see, if you spend a lot on food, it's not hard to make this card pay for its fee five-times over. Plus, with the welcome offer and added benefits, the American Express® Gold Card stands out as a top choice for foodies seeking value and versatility. Compare it with other great American Express cards and do the math to see if it's worth applying. 

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Steven Porrello
Steven Porrello icon-button-linkedin-2x

Steven Porrello writes about personal finances topics ranging from credit card offers to Costco deals to choosing the best places to park your cash.