Is the Amex Gold worth the annual fee?

Editor’s note: This is a recurring post, regularly updated with new information and offers.

The American Express® Gold Card gets a lot of attention for its aesthetic, topping our list of the prettiest cards available. It’s also heralded as the ideal foodie card for its dining-related bonus-earning categories and statement credits.

At first glance, the Amex Gold’s $325 annual fee (see rates and fees) can seem steep. However, this card has some impressive bonus categories, credits and insurance perks that make the fee worth paying for many.

The card was refreshed in late July with some new changes, including an increased annual fee, additional statement credits and a new limited-edition color.

Here’s what you need to know to determine if this card is a good choice for you.

Welcome bonus

Currently, the Amex Gold offers a welcome bonus of 60,000 bonus points after spending $6,000 on purchases in your first six months of card membership. Plus, new cardmembers will earn 20% back as a statement credit for eligible restaurant purchases (up to $100).

According to TPG’s July 2024 valuations, this bonus is worth up to $1,300.

You should also check the CardMatch Tool to see if you’re targeted for an even higher offer. Note that these offers are subject to change at any time.

This welcome bonus adds a lot to the card’s first-year value since you can get excellent value from your points by transferring them to one of American Express’s travel partners. The welcome bonus on the Amex Gold card is a great kick-start to your Membership Rewards stash.

That said, with American Express’s one bonus per lifetime rule, it’s important to ensure you get the best offer available for the Amex Gold.

Earning points

Whether you’re dining out or cooking at home, this card will earn you some serious rewards on your food purchases. It earns 4 points per dollar at restaurants worldwide (up to $50,000 per calendar year, then 1 point per dollar) and 4 points per dollar at U.S. supermarkets (up to $25,000 per calendar year, then 1 point).

Since TPG’s July 2024 valuations peg Amex points at 2 cents each, you’ll essentially get an 8% return on dining and supermarket spending.

You’ll also earn 3 points per dollar on flights booked directly with an airline or the Amex travel portal. You’ll get a better return on flights through certain other cards, but this is a decent bonus if you don’t already have another card that earns more.

Statement credits

In addition to its foodie earning structure, this card comes with two different types of valuable credits you can use for ordering in.

First, you’ll get up to $10 in monthly statement credits when you use your Amex Gold to pay at participating dining partners, including Grubhub, The Cheesecake Factory, Goldbelly, Wine.com and Five Guys (up to $120 per calendar year). Enrollment is required, and terms apply.

You’ll also get up to $10 in Uber Cash monthly, which you can use for Uber Eats or Uber rides in the U.S. (up to $120 each calendar year).

Add your Amex Gold as a payment method in the Uber app to receive this benefit. The credit is then deposited into your account as Uber Cash each month. You must have downloaded the latest version of the Uber App, and your eligible American Express Gold Card must be a payment method in your Uber account. Enrollment is required, and terms apply.

Additionally, you’ll get up to $100 each calendar year in annual Resy credits, which are broken down into two bi-annual $50 credits. To use these credits, all you have to do is pay your bill with your Amex Gold at a restaurant registered with Resy—no reservation required. Enrollment is required, and terms apply.

Lastly, you’ll receive up to $7 in monthly statements when you use your Amex Gold card at Dunkin’ Donuts (up to $84 per calendar year). Enrollment is required, and terms apply.

None of these credits roll over and must be used within the allotted monthly or bi-annual time frame. If you take full advantage of these credits, you’ll get $424 worth of value annually. This easily covers the annual fee, and you’ll rack up generous rewards in the process.

Other benefits

The Amex Gold’s impressive earning structure and statement credits aren’t the only ways to get value from it. This card also has a handful of benefits that can make your travels easier.

When you use your card to book a stay of two nights or more through Amex’s The Hotel Collection, you’ll get an up to $100 on-site credit for qualifying activities. The qualifying activities depend on the property but could include perks like spa treatments or dining.

You’ll also be covered if something goes awry in your travels because this card comes with lost baggage insurance*, trip delay insurance** and rental car insurance*** when you use it to pay for your travel expenses.

In addition to these travel benefits, you’ll also get purchase protection and an extended warranty for purchases made with this card. Terms and conditions apply.*

Hopefully, you won’t need to take advantage of any of the protections included with your Amex Gold, but you’ll have valuable peace of mind knowing you’re covered if something goes wrong.

*Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.

**Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

***Eligibility and benefit level varies by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. Coverage is offered through American Express Travel Related Services Company, Inc.

Bottom line

The Amex Gold’s $325 annual fee more than pays for itself if you can take advantage of all the credits and benefits this card offers.

If you rarely dine out or travel, we recommend calculating what you could potentially earn using the Amex Gold to decide if it’s worth adding to your wallet. If your lifestyle includes a decent amount of dining out, ordering in and cooking at home, you’ll likely get enough value from this card to easily justify its annual fee.

To learn more, check out our full review of the Amex Gold.

Apply here: American Express Gold Card

For rates and fees of the Amex Gold Card, click here.