The American Express Gold Card is a charge card for those who have good credit and can afford to pay the balance in full each month in order to avoid accumulating debt as often become the case with high balance and high interest rates. In addition, though the payment structure of the charge card is different from other unsecured credit cards, it has similar benefits and services.
The annual fee for the American Express Gold Card is $90 with an additional $35 for additional cardholders. For the first year, the primary cardholder fee is waived. The fee for cash advances is 3% with a minimum of $5 for Express Cash transactions.
For no additional fee, cardholders have access to the Membership Rewards Options program, which allows members the opportunity to earn points they can redeem for various products and services. Points are earned at the rate of one point per dollar with bonus points of two points per dollar for purchases at supermarkets, gas stations, drug stores, U.S. Postal Service, or when paying wireless phone bills. They have no expiration date or annual maximum, and the cardholder earns a bonus of 5,000 points on the first purchase.
Although the card has a high annual fee, those who are able to take advantage of all of the benefits of American Express membership may not be concerned with this.
Some of the benefits a cardholder can expect to receive from the American Express Gold Card include the following:
o Online access to account information
o Free shipping and handling from selected retailers and merchants
o Financial statements at year's end
o Price protection services
o Return protection
o No cardholder liability for unauthorized Internet transactions
o Extended warranty for purchases
o Protection for purchases
o Medical and legal referral services
o Planning assistance for trips
o Emergency assistance and travel-related services
o Insurance for lost luggage
o Emergency check-in service
o Roadside assistance
o Guarantee of hotel and motel reservations
o Insurance for car rental
o Emergency replacement of card
o Travel accident insurance up to $100,000