American Express Gold Card - is it worth it?

[hollybloom24]

I am taking a look at all our credit cards and their benefits, and annual fees (if any). We don't carry balances, so APR isn't a big deal for us.

We don't belong to the AmEx Rewards Program (costs $40 to join and we don't use the card enough to make that worthwhile).

Aside from AmEx's travel assistance, I see these as the benefits that could possibly be utilized, but have never been utilized to date since becoming a member in 1988:

- extended warranty - when you pay for an item with Amex, it doubles the original item's warranty for up to five years.

- return protection - if you buy an item with Amex, keep your receipt, and try to return it to a store within 90 days and they will not return it, Amex will give you a refund up to $300.

- if an item purchased with Amex is damaged or stolen within 90 days of purchase, Amex will refund you up to $1,000.

- car rental insurance - collision on auto rentals.

- up to $100,000 travel accident insurance if tickets purchased with Amex (train, plain, boat, bus, helicopter).

- Up to $1,250 for lost or damaged carry-on bags and $500 for checked bags if tickets purchased with Amex (train, plain, boat, bus, helicopter).

- roadside assistance up to $50 (gas, tow, battery charge).


Are there any other cards out there that have the same or similar benefits that an American Express Gold Card does, without the $125 fee?

Thanks!

[MelissaTC]

Do you have a Costco membership? We just got a Costco Amex and it has many of the same benefits including cash back on purchases and an increased amount for gas purchases. The only downside is you need to continue to be a Costco member. Considering how much we love Costco, this isn't a problem for us. In addition, I believe they automatically charge your card to renew your membership.

[hollybloom24]

No, we do BJs and not Costco...

[LD92599]

I'd say yes, but that's because that's pretty much all we use (aside from the TRU co-branded card).

Main disadvantage is the fee and that not everyone takes it

Advantages
Travel Insurance/Car Rental Waiver
Rewards - we cash in for gift cards for special occasions (ie: Mortons for Valentine's Day)
Return Insurance - if a store refuses to take something back, Amex will take it back and refund you the $$ (i've used this service...but definitely research it)
Longer warranties on products - if Sony covers an item for one year, Amex doubles it to two
Excellent customer service - if there's something on your statement you're not sure about, or you ordered/didn't receive yet, etc...they will investigate on your behalf and remove the charge until it's rectified.

Laura

[rds97]

We have a platinum card. It's nice if you travel a lot because you get free access to first class lounges. :) I don't know the other add'l benefits right off the top of my head, but that was a deal-maker for DH and me.

[pastrygirl]

I have a Gold card and had NO idea about those benefits! I asked my husband, and he knew all about it. I wish I'd known, it would've saved me some panic when I've needed to return something but wasn't sure if I'd be able to.

Our Amex points "bought" our Kindle and iPod Touch for Christmas. I love it!

[hollybloom24]

You have to pay $40 for the rewards membership to earn points, correct?

[trales]

We have many of these benefits free on our Amex blue card. That card has no yearly fees. I always pay it so I don't know the APR.

[Melbel]

The AmEx website is helpful in comparing various cards, including any fees, perks etc. Your post prompted me to reevaluate our current AmEx card and we will be making a change. The Preferred Rewards Gold card shows an annual fee of $125, free for the first year. Which card are you considering? Thanks for the nudge!

[hollybloom24]

I'm not sure if I am reconsidering a different AmEx, or just getting rid of it all together.

My husband feels strongly that when you travel internationally it is a good card to have because it is accepted everywhere, but today, in 2009, I think Visa and Mastercard are excepted everywhere too!

We are paying about $200 a year for this card and airline miles cards (on miles we can never seem to use!) I'm just trying to evaluate whether the annual fees are "buying" anything that my other no annual fee cards are not.

[DrSally]

It is worth it if you're going to do the points program. Otherwise, not sure...

[hollybloom24]

It is worth it if you're going to do the points program. Otherwise, not sure...

I think we spend less than $1,500-$2,000 on our Amex annually, so I'm not sure it would be worth the points program for us, especially if you have to pay $40 to join. KWIM?

[DrSally]

I think we spend less than $1,500-$2,000 on our Amex annually, so I'm not sure it would be worth the points program for us, especially if you have to pay $40 to join. KWIM?


Yeah, I don't think it would be worth it from a points perspective, then.

[trales]

My husband feels strongly that when you travel internationally it is a good card to have because it is accepted everywhere, but today, in 2009, I think Visa and Mastercard are excepted everywhere too!

I have found Mastercard and Visa to be accepted more places abroad than my Amex card now. This was not always the case, but has been in the last 6 years. We were barely able to use Amex in Morocco, about 50% of the time in Iceland, and a fair bit in Sweden and Finland.

[hollybloom24]

I have found Mastercard and Visa to be accepted more places abroad than my Amex card now. This was not always the case, but has been in the last 6 years. We were barely able to use Amex in Morocco, about 50% of the time in Iceland, and a fair bit in Sweden and Finland.

Interesting! I suspected this, but didn't know for sure! Some local retailers in Massachusetts don't even except Amex!