Review: Premier Rewards Gold Card from American Express®

Review: Premier Rewards Gold Card from American Express® – February 2018

Spend in categories like airfare, gas, groceries and more — and collect points that take you around the world.

  • Get this card if… you want to accrue points from spending in diverse categories.
  • Pick something else if… you don’t want to pay a high annual fee ($$195 p.a.) starting the second year, or if you want to pay your credit card balance over time.
Product NamePremier Rewards Gold Card from American Express
APR for Purchases ( Purchase Rate )No interest charges because you pay your balance in full each month
Annual fee$0 annual fee for the first year ($195 thereafter)
Card TypeAmerican Express
Returned Payment Fee$38
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
0% of transaction value
Minimum Interest$0
Minimum Credit ScoreFair (660-699)
Minimum Age18 years of age
Annual fee$0 annual fee for the first year ($195 thereafter)
Returned Payment Fee$38
Late Payment Fee$38
Rewards ProgramAmerican Express Rewards
Bonus Points on Sign-up25,000
Rewards Points per $ spent (VISA/MC)3
Points ExpiryNever

The basics

The American Express Platinum Card has a hardcore focus on travel spending, while the Blue Cash Preferred incentivizes spending on gas and groceries. Both cards carve out a niche, generally excluding other rewards.

The Premier Rewards Gold Card is a refreshing mix of the two. It offers 3x points on airfare purchased from airlines, as well as 2x points at US gas stations, supermarkets and even restaurants. This makes the Premier Rewards Gold a flexible travel card — you can accumulate travel rewards without concentrating spending in just one or two categories.

The Premier Rewards Gold is a charge card, so you’ll have to pay your balance in full each month. That may be a challenge if you’re used to carrying a balance. But you can test the waters with the card’s $0 first-year fee ($$195 p.a. thereafter).

Get $100 in airport credits to spend on checked bags, itinerary changes and more. Enjoy hotel credits and accelerated points at the American Express Hotel Collection. And book travel — from flights to hotels to cruises — at the consistently stellar American Express Travel site. At year’s end, you just might find that the Premier Rewards Gold Card pays for itself.

The perks

  • SIGNUP BONUS: Lots of points.
    25,000 points if you spend $2,000 within the first three months
  • POINTS: More points on airfare, and at US restaurants, gas stations and supermarkets.
    3x points on airfare purchased from airlines 2x points at US restaurants, gas stations and supermarkets 1x points on other eligible purchases
  • ANNUAL FEE: $0 for the first year ($$195 p.a. thereafter).

You’ll also like…

  • Airport credits. Charge up to $100 a year on an eligible airline’s fees for checked bags and itinerary change fees, and get it back in statement credit.
  • The Hotel Collection perks. Get 2x Membership Rewards points when booking two or more consecutive nights in a Hotel Collection property. You’ll also get a $75 hotel credit.
  • Transfer points. You can transfer your Membership Rewards program points to eligible frequent traveler programs.
  • American Express Travel. Use Membership Rewards points at American Express Travel to book flights, hotels and cruises — and earn double points.
  • Travel services. Access the Personalized Travel Service for bookings and the Global Assist Hotline on vacation. Also, get free car rental insurance, baggage insurance and roadside assistance.
  • No foreign transaction fees. Use your card internationally without incurring fees.
  • Exclusive American Express perks. Access Amex Offers, Preferred Seating and cardholder-only events.
  • Purchase benefits. Get extended warranties, purchase protection and return protection on eligible items. Also, get free two-day shipping at ShopRunner.
  • Access the American Express Centurion Lounges for a fee. The Centurion airport lounges are reserved exclusively for American Express cardholders. The Premier Rewards Gold Card doesn’t give you complimentary access, but you can buy a day pass for $50.

Did you know?

Centurion Lounge IAH image There are seven Centurion Lounges in the United States, and they’re among the best airport lounges you’ll find anywhere. If you’re an American Express cardholder, you can buy a day pass for $50. Entry is free for Platinum Card and Centurion members only.

What to watch out for

  • Annual fee: The Premier Rewards Gold Card has no fee for the first year, but a $$195 p.a. annual fee afterwards.
  • Not a normal credit card. The Premier Rewards Gold Card is a charge card, which means you have to pay your balance in full each month.
  • Not as widely accepted overseas. Because the Premier Rewards Gold Card is an American Express, you might not have as many opportunities to use it overseas as you would with a Visa or Mastercard.
  • It hurts to pay late. Making late or returned payments could saddle you with fees as high as $38.

Consider other cards if…

  • You want cash back. The Premier Rewards Gold Card gives you Membership Rewards points. For cash back, consider a card like the Citi Double Cash.
  • You think the annual fee is high. A $195 p.a. annual fee may be tough to swing. There are other excellent travel cards with lower annual fees, like the Chase Sapphire Preferred and the Barclaycard Arrival Plus. The Premier Rewards Gold Card does waive your first year’s fee, so you can try it out first and then decide if it’s worth paying for.

What to know before you apply

To apply for the Premier Rewards Gold Card, you must be:

  • At least 18 years old
  • A US resident

What credit score do I need?

You’ll have a better chance of being approved for the Premier Rewards Gold Card if you apply with a good to excellent credit score of 680 or higher.

How to apply for the card

1. On the American Express website, click Apply Now. Premier-Rewards-Gold-Card how to apply 2. Fill out the application form. Provide information like your Social Security number, home address, income source and total annual income. Premier-Rewards-Gold-Card-Application image

How long will it take to be approved?

Because conditional credit card approval is automated on the website, you can get a decision on your application within 60 seconds.

I got the card. Now what?

  • Making payments. Register an account at the American Express website to pay your balance online. You can also enroll in AutoPay.
  • Avoiding fees. Late and returned payments come with hefty fees of up to $38.
  • Customer service. Help documents aren’t easily accessible on the American Express website, but you can call 800-528-4800 for customer service. According to market research company J.D. Power, cardholders give American Express high marks in customer interaction.

Bottom line

The Premier Rewards Gold Card lets you spend in a wide array of categories where you can quickly earn lots of flexible travel points.

Consider other cards

Rates last updated February 25th, 2018
Name Product Product Description Rewards Points per $ spent (VISA/MC) APR for Purchases ( Purchase Rate ) Annual fee
Barclaycard Arrival Plus® World Elite Mastercard®
Enjoy 40000
bonus miles after you spend on purchases in the first 90 days — that's enough to redeem for a $400 travel statement credit toward an eligible travel purchase.
2
17.24%, 21.24% or 24.24% variable
$0 annual fee for the first year ($89 thereafter)
Luxury Card Mastercard® Titanium Card™
Enjoy unique excursions, privileged access to exclusive events and insider opportunities.
1
16.24% variable
$195 ($95 for each Authorized User added to the account)
Simmons Bank Visa® Platinum Rewards
Excellent Credit Required - Applicants that do not have excellent credit will not be approved
1
11.25% variable
$0
Luxury Card Mastercard® Gold Card™
Earn points every time you spend. Luxury Card enhances your purchasing power by providing you with one (1) point for every one dollar ($1) you spend. Every purchase gets you closer to the rewards you want.
2
16.24% variable
$995 ($295 for each Authorized User added to the account)

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