Last Reviewed: 4/1/2012
The American Express® Premier Rewards Gold Card (technically a charge card, not a credit card), while under most circumstances superior to the classic American Express® Gold Card from a strictly rewards point-of-view, is probably more suited for those looking for the prestige of carrying Amex’s legendary Gold, and the associated benefits that come with that, rather than as a pure-play rewards card.
While the actual rewards with this card are quite respectable, as is the sign-up bonus, the annual fee of $175 (waived for first year) is larger than we would have liked to see. You’re definitely getting value for the annual fee (including American Express’ great benefits), but you may want to utilize the GetDebit Ranking Engine to see how the rewards work out after taking into account the annual fee.
Key Information About the American Express® Premier Rewards Gold Card
Earning Rewards with the American Express® Premier Rewards Gold Card
The triple points on airfare and double points on gasoline at U.S. stand-alone gas stations are indeed respectable, though there are a couple of other cards you may also want to examine. For great rewards at U.S. stand-alone supermarkets, then the Blue Cash Preferred® Card From American Express provides a Herculean 6% cash back bonus there. And for top ranked gas cards, check out the Penfed Platinum Rewards Visa, which offers a turbo-charged 5 points per dollar on gas purchases.
Redeeming Rewards with the American Express® Premier Rewards Gold Card
Your American Express Membership Rewards (MR) points can be redeemed in a number of ways, including for gift cards, cash cards, and statement credits. You can also transfer your points to (at last count) 16 different airlines and 6 major hotel chains. There are also other redemption options, including Pay with Points.
For a detailed review of the various redemption options and the value of each option, check out our post “What is the Value of American Express® Membership Rewards Points?”
But as a quick summary, your best bet will be to either transfer to an airline loyalty program, or (second best) utilize the Pay with Points feature.
Benefits of the American Express® Premier Rewards Gold Card
True to form, Amex offers some excellent benefits with its gold cards. While GetDebit is typically not overly focused on benefits (we’re all about the rewards, what can I say…), we’d be remiss to at least not give you the full picture.
Roadside assistance: covers $50 in towing costs per call, up to 4 calls per year. The maximum towing distance is 10 miles, and covers all of the US, Canada, and Puerto Rico.
Baggage Insurance Plan: provides up to $1,250 for carry-on baggage and up to $500 for check-in bags. Covers loss, theft or damage when you use the American Express® Premier Rewards Gold card to purchase your travel ticket (plane, train, ship, helicopter, or bus). Helicopter? How cool.
Global Assist Hotline: open 24/7/365 for medical, legal financial and emergency help whenever you are more than 100 miles from home (you’re screwed if you are 99 miles away and surrounded by commandos).
Travel Accident Insurance: up to $250K of travel insurance for you and your family; coverage provided for accidental death and dismemberment as long as the entire fare has been charged to your card.
Fraud Protection: use your American Express® Premier Rewards Gold Card to make purchases, whether online or offline, and you won’t be held liable for any fraudulent charges.
Purchase Protection: protect your purchases made with your card from theft or breakage for up to 90 days from the date of the purchase.
Return Protection: if you purchase an item and then try to return it within 90 days without success, Amex may refund the full purchase price (not including shipping), up to $300 per item. There are some additional terms and conditions that GetDebit is working on uncovering on this one.
Summary of the American Express® Premier Rewards Gold Card
If you’re in the market for strong benefits, a good (though not great) rewards program, and a dash of prestige, then this card should at a minimum be in your consideration set. If you don’t care about benefits and prestige, but only for rewards, then we recommend you use the ranking engine to make sure that at your given spend level the rewards you earn aren’t overly off-set by the annual fee.
Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.