If you aren’t happy with high interest rates, but you need a handy way to make purchases, then a charge card might be a good alternative to a regular credit card. One charge card that is widely accepted and has a rewards benefit is the American Express Gold card. So what’s so great about this card?
American Express Gold Card Review: Get $100 Gift Cards
First of all, you can receive a bonus of 10,000 points if you’re able to spend over $500 in the first three months as a cardholder. Thanks to the Membership Rewards feature, you can turn these points into other rewards, such as $100 in gift cards. You can redeem points for $50 gift cards from well-known brands such as William Sonoma and Pottery Barn. Or you can choose to build on these points in order to receive travel certificates, travel packages, dining and event experiences, merchandise and more. Be sure to enroll in the Membership Rewards program to access this bonus.
Earn as Many Points as You Want
If you like flexible rewards credit cards that allow you to rack up the points, then the AmEx Gold Card may be of interest. You can earn a point for almost every dollar you spend with this card. Buy goods and services at the Bonus Points Mall and you might encounter chances to earn double points. After six months, you can use the Points Advance feature to buy the points you need to make your special purchases. Or you can think about buying points. Don’t worry about a cap on these points, either. You can earn as many as you want and they don’t expire. That way, you can save up for the more point-costly rewards if you prefer.
When it comes to using your rewards points, you have several options. If you want to travel, you have the choice of Paying with Points. You won’t have seat restrictions or blackout dates, and you can pick your destination — you won’t be stuck with just a few choices. Also, if you already have a frequent flyer program, you might be able to transfer your Membership Rewards points to it. Check with AmEx and your frequent flyer program to be sure before you book travel.
If you don’t have travel plans, then you can use your points for gift cards for dining or shopping options. You can also use the points to buy merchandise from shopAmex.com.
Travel & Entertainment Benefits
In addition to the travel rewards, American Express Gold also offers help for travelers. You’ll be able to plan and book trips online, use the Global Assist Hotline if you run into an emergency situation, and there’s Roadside Assistance too. There’s car rental loss, as well as damage insurance. To protect your luggage, there’s a baggage insurance plan and there’s Premium Travel Insurance for the rest of your needs.
When it comes to your entertainment needs, members can access premium reserved seats at various events. You’ll also hear about advanced ticket sales. And if you’ve ever been stuck with tickets after a concert or play’s been canceled, then you might like the Event Ticket Protection Plan.
No Pre-set Spending Limit & Paying Off A Balance In Full
Another benefit to this card is the lack of a pre-set spending limit. That means your limit has the potential to grow depending on factors like your credit history, how you use your card, and how well you handle your payments.
Now for some of the less favorable aspects of the card: after the first year, the annual fee for this card is $125, which works out to just over $10 a month. But since you pay the balance in full each month, you don’t have to sweat over interest rates. While I believe that being forced to pay your monthly bills in full so that you don’t carry a balance is a great thing, not everyone will agree with me. Charge cards actually keep you from getting mired in debt so they’re doing their customers a favor. But unfortunately, it’s not something that cardholders usually appreciate. And the annual fee? Again, it’s not the best thing out of AmEx, given the glut of no annual fee cards out there.
But wait, some of these features are not set in stone. Later on, you might become eligible for the Flexible Payment feature of the card. This would allow you to pay your balance over time, but you’d pick up interest on your balance.
Extra Benefits
As for consumer protection, you’ll be covered if you happen to come across odd or fraudulent charges on your account. Plus, they also have other benefits that are pretty common with many credit cards, such as purchase protection measures and extended warranties.
You can manage your account online or through your mobile phone, so you always have access to your balance. Foreign transactions will cost you 2.7% of the transaction amount in U.S. funds. Late fees will be either $35 or 2.99% of your past due balance, whichever amount is higher.
If you’re the type of consumer who prefers to pay off your credit card balances each month anyway, then a charge card like American Express Gold can benefit you. It’s a good thing when a card can give us something back through rewards and points without making it too easy for us to fall into debt.
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.
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