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American Express Gold Rewards Card review

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American Express Gold Rewards Card
Welcome Offer
60,000 points
Rewards
2 points per $1 spent
Annual Fee
$250
Purchase Interest Rate
21.99%
Cash Advance Rate
21.99%
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Summary

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

Earn up to 60,000 Membership Rewards points.

In this guide

  • Review
  • Frequently asked questions
  • Your reviews

30-second take

  • Get the American Express Gold Rewards 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.
  • 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, travel perks including airport lounge access and flexibility with other travel rewards programs, you can find yourself travelling the world with peace of mind in no time.

The card comes with an annual fee of $250, however 1 additional card is provided free of charge. Subsequent cards will be charged $50 annually.

Subject to approval. The preferred rate for purchases is 21.99% and funds advances is 21.99%. If you have Missed Payments, the applicable rates for your account will be 25.99% and/or 28.99%. See the information box included with the application for the definition of Missed Payment and which rates apply to charges on your account and other details.

The perks

  • Welcome offer.
    Earn up to 60,000 Membership Rewards points. Earn 5,000 Membership Rewards points for each monthly billing period in which you spend $1,000 in net purchases on your card (for a total of up to 60,000 points).
  • Earn Membership Rewards.
    Earn 2 points for every $1 spent on eligible travel purchases (including flights, hotels, car rentals, cruises and more), and at eligible gas stations, grocery stores and drugstores in Canada, and earn 1 point for every $1 spent elsewhere.
  • 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 …

  • Travel perks.
    Receive a CAD$50 statement credit when a NEXUS application or renewal fee is charged to your card. In addition, you have access to an annual CAD$100 Travel Credit which can be used once annually towards any single travel booking of $100 or more charged to your card through American Express Travel Online. Plus, enjoy four complimentary visits per calendar year to Plaza Premium Lounges across Canada and get 1 Free Additional Gold Rewards Card (a $50 value) to help you earn points faster and earn 2 points for every $1 in Card purchases for eligible travel purchases, including flights, hotels, car rentals, cruises, and more.
  • 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.

    Amex 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 $250. One additional card is offered free of charge. Subsequent cards will be charged annually at $50.

  • 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.

American Express Gold Rewards Card interest rates

Interest TypeInterest Rate
Purchase interest rate21.99%
Cash advance rate21.99%

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 $250 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.

Compare other American Express credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
American Express Cobalt Card
15,000 points
Up to 5x points per $1 spent
21.99%
$155.88
Min. recommended credit score: 700
Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.
American Express Green Card
10,000 points
1 point per $1 spent
20.99%
$0
Min. recommended credit score: 700
Earn a Welcome Bonus of 10,000 Membership Rewards points when you charge $1,000 in purchases to your card in the first 3 months as a new Cardmember. That’s $100 towards groceries or concert tickets.
SimplyCash Card from American Express
$100 in statement credits
Up to 2% cash back
20.99%
$0
Min. recommended credit score: 700
In your first 10 months, earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases. This could add up to $100 in statement credits in the first 10 months.
American Express Aeroplan Reserve Card
85,000 points
Up to 2x points
21.99%
$599
Min. recommended credit score: 700
Earn up to 85,000 welcome bonus Aeroplan points. That's a value of up to $2,600 or more when you combine your welcome bonus points and card benefits.
American Express Aeroplan Card
50,000 points
Up to 2x points
N/A
$120
Min. recommended credit score: 700
Earn up to 50,000 welcome bonus Aeroplan points. That’s up to $1,100 or more in value when you combine your welcome bonus points and card benefits.
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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.

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 Gold Rewards 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 Canada website to pay your balance online and enrol in autopay.
  • 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, travel 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 $250. 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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Pictures: americanexpress.com/ca

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