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American Express Gold Rewards Card Review

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Travel wherever and whenever you want with the flexibility of the American Express Gold Rewards Card.

Earn a Welcome Bonus of 25,000 Membership Rewards points when you spend at least $1,500 on eligible purchases within the first three months

30% annual interest rate applies to balances not paid in full each month

Purchase Interest Rate

$150

Annual Fee

Details

Product NameAmerican Express Gold Rewards Card
RewardEarn 2 Membership Rewards points for every $1 spent on eligible gas station, grocery store, drug store and travel purchases and on eligible hotel and car rental bookings made with American Express Travel, and earn 1 Membership Reward point for every $1 spent on all other eligible purchases
Welcome OfferEarn a Welcome Bonus of 25,000 Membership Rewards points when you spend at least $1,500 on eligible purchases within the first three months
Purchase Interest Rate30% annual interest rate applies to balances not paid in full each month
Cash Advance RateN/A
Balance Transfer RateN/A
Interest Free Period Up to 31 days
Apply now
More Info

30-second take

  • Get this card if you spend big on gas, travel, groceries and other everyday expenses.
  • Pick something else if you don’t want to pay an annual fee or don’t pay off your balance in full each month.
  • Apply with a good to excellent credit score of 650 or higher.

The basics

If you’re a travel enthusiast, the American Express Gold Rewards Card can be the perfect travel companion. With an accelerated rewards scheme, a suite of travel insurance and flexibility with other travel rewards programs, you can find yourself travelling the world with peace of mind in no time.

This card is a charge card, which means you are required to pay off your full balance each billing cycle. In addition, the card comes with an annual fee of $150, however an additional card is provided free of charge. Subsequent cards will be charged $50 annually.

The perks

  • Welcome offer.
    Earn a Welcome Bonus of 25,000 Membership Rewards points when you spend at least $1,500 on eligible purchases within the first three months
  • Earn Membership Rewards.
    Earn 2 Membership Rewards points for every $1 spent on eligible gas station, grocery store, drug store and travel purchases and on eligible hotel and car rental bookings made with American Express Travel, and earn 1 Membership Reward point for every $1 spent on all other eligible purchases
  • Payback with points.

    Pay for an eligible purchase with your card and then log in to your online account and redeem your Membership Rewards points for statement credit, which you can use to pay back your owing balance.

You’ll also like …

  • The Hotel Collection perks.

    The Hotel Collection (THC) benefits includes $100 hotel credits and a room upgrade upon check-in to participating properties like Hyatt and Hilton hotels. Book through American Express Travel and use your hotel credit on amenities such as spa, dining and resort activities when you charge your card for two or more nights stay at the same hotel.

  • Travel insurance coverage.
    Get up to $500,000 Travel Accident Insurance plus Emergency Medical Insurance, Trip Interruption Insurance, Hotel/Motel Burglary coverage, Lost, Stolen and Delayed Baggage coverage, Flight Delay Insurance and Car Rental Theft and Damage Insurance.
  • Transferable points.

    Transfer your Membership Rewards points to other frequent travel programs including Aeroplan, Delta SkyMiles, Asia Miles, Etihad Guest and more. Rewards points can be transferred to Aeroplan Miles at a rate of 1 to 1.

  • Fixed Points Travel Program

    Redeem points to book domestic or international flights for a fixed amount of points with the Fixed Points Travel Program. The fixed number of points covers correspondingly the required base ticket price of the eligible flights.

  • Purchase benefits.

    Buyer’s assurance doubles the manufactures warranty (up to one year) when you use your American Express credit card to purchase the item. Your eligible items are also covered against theft and accidental damage with Purchase Protection.

  • Access to American Express perks.
    American Express offer a range of opportunities to cardholder-only experiences and preferred seating at select events. Get access to a variety of special offers including concerts, theatre, film, dining, shopping and travel perks with American Express Invites.

What to watch out for

  • Annual fee.

    The American Express Gold Rewards Card comes with an annual fee of $150. One additional card is offered free of charge. Subsequent cards will be charged annually with $50.

  • It’s a charge card.

    You will be required to pay off the full balance each month. If you don’t, you will face a 30% APR.

  • Not as widely accepted overseas.

    Compared to Visa and Mastercard, American Express is much less widely accepted in locations across Canada, the US and around the world. This might provide you with less opportunity to use the card, and therefore less opportunity to reap the rewards.

  • It hurts to pay late.
    30% annual interest rate applies to balances not paid in full.

Consider other cards if …

  • You want cash back.

    If you’re looking to reap the benefits of cash back, you may want to consider a cash back rewards card. These types of cards typically offer anywhere from 1-5% cash back on purchases. If you spend frequently on gas, groceries and dining out, a cash back rewards card may be more beneficial for you than this credit card.

  • You don’t want to pay an annual fee.

    The American Express Gold Rewards Card comes with a $150 annual fee. Although the card may be worth the annual fee, especially if you make full use of the perks and benefits offered, you may still prefer a no fee credit card. There are plenty of no fee credit cards offered by various providers, as well as a couple offered by American Express.

  • You’re looking for premium travel perks.
    American Express are well known for their premium travel perks, including extensive travel insurance coverage, valet service, access to airport lounges worldwide, free checked baggage deals with airlines and more. If you’re looking for top of the line perks, you may be better suited to a different American Express card that offers a range of premium and luxury travel benefits.

Compare other American Express credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
American Express Cobalt Card
30,000 points
Up to 5 points per $1 spent
19.99%
$120
Min. recommended credit score: 700
Earn up to 30,000 bonus Membership Rewards points in your first year as a new Cobalt Cardmember.
SimplyCash Card from American Express
1.25% cash back
Up to 2.5% cash back
19.99%
$0
Min. recommended credit score: 700
Earn 2.5% cash back on all eligible purchases in your first three months (up to a maximum spend of $6,000, or $150 in cash back).
Choice Card from American Express
10,000 points
1 point per $1 spent
19.99%
$0
Min. recommended credit score: 700
Earn 10,000 Bonus Membership Rewards points within the first 3 months as a new Cardmember.
American Express Aeroplan Card
15,000 points
Up to 2x points per $1 spent
30% annual interest rate applies to balances not paid in full each month
$120
Min. recommended credit score: 700
Earn up to 15,000 Welcome Bonus Aeroplan points and a bonus Buddy Pass as a new cardmember.
SimplyCash Preferred Card from American Express
10% cash back
2% cash back
19.99%
$99
Min. recommended credit score: 700
Earn 10% cash back on all eligible purchases (up to $400 in cash back) for the first four months of Cardmembership.
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What should I know before I apply?

To apply for the American Express Gold Rewards Card, you must:

  • Be at least 18 years old, or the age of majority in your province or territory.
  • Be a Canadian citizen or a permanent resident with a valid Canadian credit file.

What credit score do I need?

You’ll have a better chance of approval if you apply with a good to excellent credit score of 650 or higher. In addition to having a good credit score, a relatively high annual income or combined household income may be beneficial for approval.

Here are a few other factors that might affect your odds of approval:

  • Hard inquiries on your credit report. If you have several hard pulls on your credit history, it could indicate to a provider that you’re desperate for credit or have trouble managing your debt. As a result, the provider may be less likely to approve your application.
  • Factors that tie into your credit score. Your credit utilization ratio can play a major factor in your approval. Customers who have low balances relative to their credit limits are usually preferable to providers.

What do customers say about this credit card?

Customers say very positive things about the American Express Gold Rewards Card, and cite that is has a competitive welcome offer, a good point to dollar earn ratio, an extensive suite of travel insurance and many other perks. Customers also say that they are pleased with the benefits of this travel rewards card, and note that the benefits offset the annual cost of the card.

On the other hand, customers state that American Express tend to have inflexible company policies. However, the American Express customer service team are praised for their prompt and helpful service.

How to apply for the American Express Gold Rewards Card

  1. Head to the American Express website, navigate to the American Express Gold Rewards Card page and click the Apply Now button.
  2. Complete the application with information including your full name, home address, income source and total annual income.
  3. Review and submit your application.

How long will it take to get my American Express Gold Rewards Card?

Pre-approval for an American Express credit card is automated on the website, which means you may get a decision on your application within just 60 seconds. If there are issues with your application, it may take within 10 days to hear back.

Once your application has been approved, you’ll typically receive your card in the mail within 5 to 10 business days.

I got the card. Now what?

  • Pay off your full balance each month.
    Register for an account on the American Express website to pay your balance online and enrol in autopay. The American Express Gold Rewards Card is a charge card, so you will need to pay off the full balance each billing cycle. A 30% APR applies to any balances not paid in full.
  • Avoid fees.
    Late and returned payments will incur fees, so be sure to pay on time. If you’re enrolled in autopay, be sure to have enough funds in your account to pay off your balance each billing cycle.
  • Get help.
    If you’re not able to find what you need on the American Express Canada website, call 1-800-268-2639 to speak with a customer service representative.

Bottom line

If you spend frequently on gas, groceries and other everyday expenses, the American Express Gold Rewards Card can be a powerful sidekick. While the card is tailored toward travel enthusiasts, you can use your Membership Rewards points for a variety of other experiences, including redeeming them for statement credit. Remember that you’ll face an annual fee of American Express Gold Rewards Card. Before you apply for a credit card, compare your options in order to find the best card for your spending habits and needs.

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Frequently asked questions about the American Express Gold Rewards Card

Pictures: americanexpress.com/ca

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