Update

American Express just made this card a whole lot more attractive. They're waiving the $125 annual fee, plus they're giving you $100 back just for using the card. See here for details and application.

Introduction

I’m usually a bit leery about a credit card that has an annual fee, especially when it’s more than a hundred dollars. Call me a skeptic, but from what I’m accustomed to seeing, the benefits that you get from a card that carries an annual fee are often very similar to the benefits you receive from a card with no annual fee. I have found, though, that with American Express, membership does have its privileges. The $125.00 annual fee that you pay for the American Express Preferred Rewards Gold Card and American Express Rewards Plus Gold Card are well worth it when you examine all the benefits and rewards you receive by being a card member. First we’ll summarize all the services, and then delve a bit deeper into the details:

Total Savings

Service	Monetary Value
Concierge Services	$50/year
Travel Services	$50/year
Roadside Assistance	$50/year
Car Rental Insurance	$15/year
American Express Global Assist Services	$20/year
Event Protection Services	$20/year
Preferred Seating	$20/year
Merchandise Return Services	$200/year
Extended Warranty on Merchandise	$200/year
Merchandise Theft and Damage Insurance	$75/year
Fraud Protection:	$0/year (standard on most credit cards)
Rewards Points	$100/year (assuming $10,000 spending)
Built in Discounts	$100/year (assuming $10,000 spending)
TOTAL	$900/year

By my calculations, the American Express Gold Card has $900/year worth of services built in… this is far more than the $125 annual fee.

American Express Gold Card Exclusive Benefits

With an American Express Gold Card, you will gain access to highly exclusive (and very useful) services and features that few people know about.

American Express Travel Services

Concierge Services: accessible through the internet or over the phone, this service will act like a personal concierge. A good friend of mine couldn’t find a flight from NYC to LA. With just 3 days advanced notice, American Express travel services got him a seat on a flight for just $430 dollars, a very competitive price considering the short notice.

American Express Travel Services also offers travel deals throughout the year. At the writing of this article, they were offering free flight and hotel stays with the booking of a cruise. The prices they charged for the cruise was the cheapest I could find… truly a great deal.

Free Roadside Assistance – Cancel your AAA membership, because American Express offers free roadside assistance. Whether you blew out your tire, need gas, or a tow truck, simply call American Express Roadside Assistance at 1-800-333-AMEX (2639) and they’ll take care of you. Car Rental and Damage Insurance – Waive the expensive insurance fees you pay with car rentals. American Express has you covered bumper to bumper.

American Express Global Assist Services is another feature that I would pay handsomely for. Where ever you are in the world, simply call 1-800-333-AMEX (2639) to receive emergency assistance. Services include emergency translation services, urgent message relay, lost item search, lost luggage assistance, passport/visa/customs assistance, travel arrangement services, medical assistance, legal assistance, and most importantly, emergency financial assistance.

Entertainment Services

Event Protection Services: If you buy tickets (up to $1000 each) for any sort of event and are unable to attend, American Express Entertainment services will reimburse you for the full cost of the ticket, no questions asked.

Preferred Seating: Buying tickets through American Express guarantees you the best prices and the best seats. No more frantic clicking and waiting for public ticket sales and no more outrageous prices from scalpers. American Express Ticket Services reserves tickets to the most sought after events for its members. Tickets are available for concerts, sporting events, Broadway theater, and various family events. American Express will even grant you backstage access to certain events.

Shopping Services Return Services

With the American Express Gold Card, you can return any purchase made anywhere as long as you made it with your gold card. You have 90 days and you can return items worth up to $300 for a total of $1000 a year.

Extended Warranty: Double the original warranty of any item for up to 1 year for coverage of up to $10,000 automatically when you purchase an item with your American Express card. Insurance For Your Purchases: When you buy anything with your American Express Gold Card, you will automatically insure it for 90 days for up to $1,000. Whether it’s stolen or accidentally broken, American Express Insurance will reimburse you, no questions asked.

Fraud Protection: Have peace of mind. American Express will cover any damages incurred because of fraud.

The Standard Stuff

The American Express Gold Card has no preset spending limit, so there is no need to worry whether a transaction will go through from one purchase to the next – if you need the funds, they are there.

The American Express Gold Card also has built in savings with participating companies. Use your card at Hertz, Delta, FedEx, 1800Flowers.com and dozens of other companies and save anywhere from 5% to 25% automatically.

Lastly, there is a very generous Membership Rewards Program – this feature lets the consumer earn rewards pointsfor purchases. There is no limit to the amount of points you can earn, the points never expire and they can be redeemed for merchandise at shopAmex.com. This website has hundreds of thousands of items: from books to house wares, sporting goods, electronics and more. You’ll earn up to 5 points for every dollar you spend on special purchases, and at least 1 point for every dollar you spend. Based on our analysis of what you can redeem, every point is worth about 1.5 cents, so think of this feature as a 1.5% cash back. A second card is only an extra $35 per year and you can earn rewards for money spent on the second card. This is perfect for a family member or a friend.

How To Apply

The application process is quick and easy. Please click here if you are interested in applying.

Multiple Flavors

If you like the American Express Gold Rewards Card, but feel it has too few or too many features, check out American Express's other offerings.