Don’t know if you need to sign up for the American Express Gold Card? Find out what is it and how it can benefit you with this American Express Gold Card review.
In today’s modern economy, payment cards have become a common way to pay for goods and services. No matter where you are in the world, as long as you meet the policy on the payment card, you can easily and conveniently make payment to the merchant even if you don’t carry cash.
What is American Express Gold Card?
One of the most popular payment cards that is offered today is the American Express Gold Card. It’s a type of charge card that contains a wide array of lifestyle benefits and a large number of reward privileges. But unlike credit cards, which allow the consumers to pay its balance on a flexible term, charge cards must be paid in full each month.
Features of Amex Gold Card:
- Applicable only to qualified individuals who are 18 years old and above.
- Annual fee of $125 after the first year of your membership.
- Since it’s a charge card, you should pay your balance in full every month.
- Up to $35 late payment fee
- There’s a 2.7% fee for every foreign transaction.
- No over-limit fee.
- Gives you refund for eligible items.
- Provides you up to $100,000 travel insurance.
- Provides you accidental and theft protection for eligible purchases.
- Provides you coverage for lost or damaged baggage.
- Get 1 point for every $1 you spent on all purchases.
- Earn up to 10 points for every $1 you spent when you shop at Amex Rewards site.
- Use your points to purchase the items you want on their membership program.
- Reward points have no expiration date.
- 24/7 customer service.
To know more about the advantages and disadvantages of this card, read on for more Amercian Express Gold Card review.
- No interest charges. Amex card is a charge card, which means that you have to pay your outstanding balance in full each month. When you pay your balance in full, no interest rate will be charged.
- Earn reward points. Amex provides reward points for every dollar you spent with the use of the card. Depending on where you use your card, you can earn up to 10 reward points. The points you’ve collected can be used to purchase merchandise or ticket for booking your next trip. The best thing is that the membership rewards don’t have an expiration date, so you can use it anytime you want.
- Return Protection. If you try to return your latest purchase but the merchant doesn’t want to take the item back, the American Express will give you the refund price, as long as you purchased it with the use of the Gold Card. American Express can give a refund for up to $300 per item, and up to $1000 annually per card holder (excluding shipping and handling fee).
- Travel Protection Insurance. If you use your card to pay for your travel ticket, you are given with travel insurance benefit, which could cost for up to $100,000. In addition to this, you’ll also get the baggage insurance policy, which gives you coverage for lost or damaged luggage.
- Best customer service. The customer service of American Express is considered one of the best in the credit card industry. If you have concerns, just dial their customer service hotline and they’ll be happy to serve you.
- High annual fee. American Express charges a $125 fee after the first year of your membership. This is higher compared to other charge and credit card services.
- High transaction and late payment fees. Amex Gold Card charges a 2.7% fee for every transaction made outside the US. Similar to its annual fee, the charge is higher compared to other charge and credit card services. In addition, you are subject to pay up to $35 or 2.99% of your past due amount, in case you failed to make the payment on its due date.
With all the American Express Gold Card review mentioned above, we can clearly state that the Amex Card is a good card, especially if you want the idea of reward points and no pre-set expenditure limit. However, it is still important to weigh your options and know your needs before you sign up. It is also better to review the terms first to determine if this will benefit you in the long run.