New Amex Gold Card; Earn 4x Points on Restaurants & Groceries

Amex Gold Card

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At the end of September, American Express mistakenly released details of updated benefits on their Premier Rewards Gold card. The new benefits were showing up in existing card members accounts for a short period and were quickly removed.

Most people assumed that these benefits were coming for everybody soon. Today, the news is official and American Express has released their updated Amex Gold Card. The card has updated benefits that will effectively replace the existing Premier Rewards Gold card. It will instantly be one of the most rewarding travel rewards cards on the market.

Click Here to learn more about the new Amex Gold Card and other travel rewards cards. 

 

New Benefits of the Amex Gold Card

  •  Now earns 4x points at US Restaurants (Previously 2x)
  • 4x points at US Supermarkets on up to $25k per calendar year (Previously 2x)
  • new $120 annual dining credit which is split up monthly for charges at GrubHub, Seamless, The Cheesecake Factory, Ruth’s Chris Steakhouse & Participating Shake Shack locations.
  • New Card Members who apply for the Gold Card through January 9th, 2019 will get 20% back in statement credits on dining purchases at U.S. restaurants, up to $100 during the first three months of Card Membership.
  • Annual Fee is now $250 and is not waived for the first year. This is increased from the $195 annual fee on the Premier Rewards Gold card.
  • New Gold Card and existing Premier Rewards Gold Card Members will also have the opportunity to request a limited edition rose gold version of the Card through January 9, 2019.

Click Here to learn more about the new Amex Gold Card and other travel rewards cards. 

 

Full Benefits of the Amex Gold Card

  • Receive 25,000 Membership Rewards Points after spending $2,000 within the first 3 months of card membership.
  • 20% back in statement credits on dining purchases at U.S. restaurants, up to $100 during the first three months of Card Membership.
  • 3X points for flights booked directly with airlines
  • 4x points at US Restaurants (Previously 2x)
  • 4x points at US Supermarkets on up to $25k of spending per calendar year (Previously 2x). 1x points after that
  • 1x points on other purchases
  • No Foreign Transaction Fees
  • $120 annual dining credit split up monthly for charges at GrubHub, Seamless, The Cheesecake Factory, Ruth’s Chris Steakhouse & Participating Shake Shack locations
  • $100 Airline Fee Credit per calendar year for baggage fees and more at one qualifying airline.
  • $250 annual fee (not waived for the first year)

Click Here to learn more about the new Amex Gold Card and other travel rewards cards. 

 

Our Analysis

These new benefits give the Amex Gold card a bit of an identity as a solid card for those who spend a lot on groceries & restaurants. I value Membership Rewards points at somewhere around 1.7 cents each, so earning 4x points on groceries and restaurants is essentially a 6.8% return on those categories. 

There is no other card that can compete with that earning rate on these categories, which makes it an immediate winner. This in and of itself will make this an everyday card for many as the Chase Sapphire Reserve and Sapphire Preferred only earn 3x and 2x points per dollar spent on dining respectively.

The decision will likely come down to which flexible points currency you value higher, Chase Ultimate Rewards or American Express Membership Rewards.

It is worth noting that the Amex Gold Card will earn 4x Membership Rewards points in the US, so any international dining transactions should still be charged to your Chase Sapphire Preferred or Sapphire Reserve card.

 

 

The annual fee on the updated Amex Gold Card will now be $250 and it will not be waived for the first year of card membership. However, with the $100 airline fee credit, 20% back on dining welcome offer bonus, and the monthly $10 dining credit, recouping the annual fee amount in year one shouldn’t be too terribly difficult.

If you are an existing cardholder of the Premier Rewards Gold cardholder, the new $250 annual fee will go into effect on your next account anniversary on or after April 1st, 2019. You will also continue to earn 2x points at U.S. gas stations through October 4th, 2019.

 

Bottom Line

Kudos to Amex for drastically improving their mid-tier travel rewards card earning Membership Rewards points. While I was hoping for a larger Membership Rewards welcome offer bonus, the 20% back dining credit is a creative way to knock $100 off of your first-year annual fee.

As we often say, when banks compete for a share of our wallets in the form of improved credit card benefits & rewards it is a win for the consumer. This card will be intriguing for many, including myself.

Click Here to learn more about the new Amex Gold Card and other travel rewards cards. 

 

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Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer.

The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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