Is Amex Gold Card worth it?

The American Express® Gold Card can be well worth it even though it doesn't offer as many travel benefits as The Platinum Card® from American Express. In fact, some would argue that the long-term rewards rate is significantly more generous on the Amex Gold Card, or that the lower annual fee makes it a better deal.

Is Amex gold card for rich people?

No,. American Express is not specifically for rich people, even though it does have a high level of status in many people's minds. Applicants need good or excellent credit scores of 700+ to qualify for Amex credit cards, and you don't need to be rich to have a good credit score.

Is it hard to get a gold American Express card?

Yes, it is hard to get the American Express® Gold Card because it requires at least good credit for approval. Unless your credit score is 700 or higher and you have a lot of income, it will be very hard for you to get approved for the Amex Gold card.

What income do you need for Amex Gold?

If you make near $100,000 a year and have good credit, you should have no issue getting approved. But, applicants with annual incomes as low as $40,000 have also been approved if they have a low debt-to-income ratio and pay their other credit cards in full every month.

Is there a better card than Amex Gold?

For those who can take advantage of its rich credits, the American Express® Gold Card, which carries an annual fee of $250, generally comes out ahead (see rates and fees). But if you can't use those side perks, it's usually a good idea to go with the Chase Sapphire Preferred® Card, which has an annual fee of $95.

7 Ways to MAXIMIZE the Amex Gold Card ($250+ Value)

Is Amex gold impressive?

The American Express Gold is an incredible option for earning travel rewards on dining and U.S. supermarket purchases, and it's ideal for foodies that can take advantage of the dining-related bonus perks. Although it has a $250 annual fee, cardholders can easily offset it with moderate spending and its annual credits.

Why is Amex gold so good?

For high-spending foodies, the American Express® Gold Card is dining rewards royalty. The $250-annual-fee card earns 4 points per dollar spent at restaurants, 4 points per dollar spent at U.S. supermarkets (on up to $25,000 in purchases a year) and a $120-a-year dining credit, among other perks.

Is Amex Gold actually gold?

It's worth noting that regardless of its name, the Amex Gold card is not made of gold. But it is worth quite a bit in ongoing rewards. Cardholders get an initial bonus of 60,000 points for spending $4,000 in the first 6 months.

Is Amex Gold higher than Amex Platinum?

Amex Platinum ultimately offers more value, though. For example, its benefits include airport lounge access, while the Amex Gold Card's perks do not. When it comes to ongoing rewards on purchases, Amex Platinum has a higher maximum earning rate and better travel rewards. But Amex Gold provides more everyday value.

Do you have to pay Amex Gold in full every month?

When it's time to pay your bill, you can pay your balance in full, the minimum due, or any amount in between.

What is the hardest Amex card to get?

The hardest Amex card to get is the Centurion® Card from American Express. Also known as the “Black Card,” this Amex card is hard to get because it is available by invitation only, and potential candidates are rumored to need an annual income of at least $1 million.

What is the highest credit limit for American Express Gold Card?

Delta SkyMiles® Gold American Express Card

Highest reported credit limit: $50,000, according to a post on the myFICO forums. Welcome offer: Earn 40,000 bonus miles after you spend $2,000 in purchases on your new Card in your first six months of account opening.

How do I get my Amex gold card fee waived?

Call the retention line and ask your card's issuer to waive or lower its annual fee. Long-time customers and high-spenders with great credit who always pay in full likely have the best chance. It's a common credit card promotion to waive the annual fee for the first year your account is open.

What credit cards do billionaires use?

The credit card billionaires are most likely to use is the Centurion® Card from American Express, also known as the Amex Black Card, which has unique benefits and is reserved for high-net-worth individuals. Some of the rich and famous people rumored to have the card include Jerry Seinfeld and Halle Berry.

Is Amex blue or gold better?

If you're spending more than $500 per month at U.S. supermarkets and spend a lot on travel, the Amex Gold card delivers better value. If you subscribe to select streaming services and spend a lot on transit or gas, consider the Amex Blue Cash Preferred card.

Is Amex gold better than green?

The American Express Gold and American Express Green credit cards are both Membership Rewards-earning Amex options, but the Amex Gold is the better value. The $150 Amex Green, with points on travel and restaurants, and credits for Clear membership and Lounge Buddy, can help you save on travel expenses.

Does Amex Gold get you into airport lounges?

The Amex Gold card does not offer any complimentary airport lounge access. Bottom Line: If you value worldwide lounge access, the Amex Platinum card is a clear winner as the Amex Gold card does not offer any form of airport lounge access.

Is Amex Gold Full metal?

The American Express^® Gold Card is constructed with a mix of materials that include stainless steel, just like The Platinum Card^® from American Express. The difference is that the American Express^® Gold Card is slightly lighter and features its signature gold color.

Is Amex worth the hype?

Yes, an American Express card is worth it for people with good or excellent credit scores who want to earn rewards on U.S. purchases that they'll pay for in full by the due date every month. An Amex card may also be worth it for people who want an introductory low-interest period in addition to rewards.

Why do rich people have American Express cards?

They take advantage of rewards cards to get cash back or earn free travel. The wealthy can benefit more than average earners from credit card rewards because they charge a lot. If your card pays you 2% cash back and you spend $100,000 per year, you can earn a lot more in rewards than the typical card user.

Is Amex gold worth it 2022?

The Amex Gold card is an absolute workhorse of a card when it comes to earning Amex Membership Rewards points, especially for those that have a large level of annual spending on dining or U.S supermarket purchases. In fact, you'll be hard-pressed to find many better cards for these purchases.

Why did I get denied for Amex Gold?

The amount of existing debt you have, the number of accounts you have open, and the number of recent hard inquiries on your credit report are among those factors. Amex looks at your entire financial profile when making a decision.

Will Amex waive my annual fee?

Call the retention line: You can ask Amex to waive the annual fee by calling (800) 452-3945. However, it's important to understand that this approach may not be successful. American Express typically does not waive annual fees entirely, but it may offer a side benefit to offset the Platinum card's $695 annual fee.

Does closing Amex Gold card hurt credit?

Open card accounts can help your credit score in two different ways: credit utilization and length of credit history. Closing a credit card account can negatively affect both of those components of your credit score.

Why does my Amex Gold not have a limit?

If you have a Consumer or Business Green, Gold or Platinum Card, your Card does not have a credit limit. Instead, your Card has no preset spending limit unless you have been previously notified otherwise. No preset spending limit means the spending limit is flexible.