Why do you have an Amex Gold?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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agp
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Why do you have an Amex Gold?

Postby agp » Thu May 31, 2012 5:35 pm

I understand the appeal of the Centurion and the benefits of the Platinum, but why Gold?

1. Let's face it, the rewards are less than stellar. There are plenty of other cards, even ones without annual fee, that give more points and/or cash back.

2. There are many banks that give good customer service and CSR are easily-reached; but if you really wanted easily-reachable CSR you would have joined a credit union.

3. Not really a status symbol. These cards are not hard to find, I have gone out grocery shopping twice in the past month, and one of those times the person in front of me in line had a Gold.

4. Purchase protection? All offered on the green and some Blue Cash cards I believe.

So why Amex Gold? Is $125/year worth it?

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred


thomaswhitehall
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Postby thomaswhitehall » Thu May 31, 2012 5:42 pm

I have the Gold this year since I got it for free for the first year. Looking back I wish I would have just went for the platinum for the benefits. If your spend is high enough and you don't want the benefits of the platinum then the premier rewards is nice.

Aside from that the gold has the entertainment, I wouldn't say I'm too impressed with it as few of the concerts, etc. have been appealing to me (I live in NY for reference purposes)

On top of this I have it since I like Amex and I like the fact that it's a charge card, it keeps me honest.

agp
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Postby agp » Thu May 31, 2012 5:52 pm

I live 20 miles west of Manhattan, in NJ, but getting concert tickets usually isn't a big problem. I mean, out of the Gold owners, how many actually know that they can book a ticket earlier with an Amex, and how many actually use that extra day concert ticket booking?

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

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FastSRT8
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Postby FastSRT8 » Thu May 31, 2012 5:58 pm

Because GOLD is pimp kidding. I believe the levels are there to broaden the option base for cardmembers. As stated above, maybe some cannot afford or do not want to pay the added fees for a Plat or Cent.

Just like how cars have trim levels....[premier gold card].[/premier gold card]
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thomaswhitehall
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Postby thomaswhitehall » Thu May 31, 2012 5:58 pm

I would say very few. I get the same benefits on my Citibank ThankYou card. Not the same events, but it's not something I even pay attention to. Haven't checked the roadside assistant benefit, the $75 hotel dining credit + upgrade is only in a few chains (forgot which ones) they are mostly in major cities. They will back you if you have a complaint with a purchase though. Haven't had to use that feature many times. Keep in mind the seats that they do get you tend to be premium so if you are interested in getting and most importantly paying for front row seats somewhere it makes sense. If your just going out on a casual weekend and not interested in paying a few hundred potentially thousand (depending on event) this won't be worth it for you

I would say overall (especially if your in NJ) depending on your lifestyle/budget your probably going to spend the extra $50 somewhere else on something so might as well just go for it if you think it's worth it. Ideally if your traveling a few times this year just get the Platinum. $450 minus the $200 airline credit brings you do $250 annual, if your going international then they have that quick customs entry membership for free plus the lounges (if you have layovers, etc.) and upgrades on hotels makes the extra $75 your paying over PRG worth it.

American
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Postby American » Thu May 31, 2012 5:58 pm

I have an Amex Gold Premier Rewards, and I have it for numerous reasons.

Honestly, I initially got it years back, before I knew anything other than I want an Amex, because I liked the look of the gold card.

Honestly, the Amex PR could be one of the best rewards charge cards in existence. No other charge card from Amex provides you bonus categories on Groceries & Gas. The best thing about MR is transferring to partners.

I live in Atlanta, so I naturally fly Delta, and when I'm racking up 2x on G&G, and then waiting to transfer them at 1.5x rate. I'm basically getting 3 miles per dollar on G&G, but with all the benefits of Gold.

It's my favorite American Express, mostly because it's my first, but also because it's just an all around great charge card.
American Express '02: Platinum, Blue Cash Preferred 6k, SPG 2k, Delta Gold 1k
Barclaycard '11: Apple Financing Card 2.5k
Citi: Diamond Rewards 1.5k
Chase: Freedom 500
Discover '12: Discover IT 1.5k

agp
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Postby agp » Thu May 31, 2012 6:07 pm

Amex BCP gives 6% cash back on gas. Amex point to cash conversion would never exceed 1:3. So you want less than 6 cents for every dollar you spend, rather than 6 cents for every dollar you spend?
Same goes for gas, there are better gas cards.

And true, the reward points is awesome for a charge card. But how many other charge cards are there?

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

MemberSince99
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Postby MemberSince99 » Thu May 31, 2012 6:20 pm

agp wrote:Amex BCP gives 6% cash back on gas. Amex point to cash conversion would never exceed 1:3. So you want less than 6 cents for every dollar you spend, rather than 6 cents for every dollar you spend?
Same goes for gas, there are better gas cards.

And true, the reward points is awesome for a charge card. But how many other charge cards are there?


You just answered your own question, really (how many other charge cards are there).

I have lately warmed up to the idea of the Platinum, but honestly I don't travel enough to make much use of the benefits. Cost/benefit wise, the Gold is a better deal for me than the Platinum is. I could spend 325 dollars a year more for benefits I wouldn't use, and maybe I will someday just to have an Amex Platinum, but honestly, in terms of what it gives me the Gold is a better deal for me personally.

agp
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Postby agp » Thu May 31, 2012 6:21 pm

But then why a charge card when credit cards have better deals at lower costs?

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

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FastSRT8
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Postby FastSRT8 » Thu May 31, 2012 6:48 pm

agp wrote:But then why a charge card when credit cards have better deals at lower costs?


Perhaps it's a brand thing at this point or status if you consider most anyone can get a credit card but charge cards are 'harder'?
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