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This is another installment in my Maximizing Amex series where I examine the benefits of American Express cards and Amex’s Membership Rewards Program. The articles include; Post 1: Understanding the Card Offering. Post 2: Understanding Membership Rewards. Post 3: Understanding Transfer Bonuses. Post 4: Platinum Card Review. Post 5: SkyTeam Transfer Partners. Post 6: Oneworld Transfer Partners. Post 7: Star Alliance Transfer Partners. Post 8:Understanding Emergency Travel Assistance and Travel Accident Insurance. Post 9: Purchase and Return Protection and Extended Warranty. Post 10: Car Rental Benefits. Post 11: Gold and Premier Rewards Gold Card Comparison.

This post is all about the American Express Gold and Premier Rewards Gold Card charge cards and the differentiating factors. To be honest, for a long time I didn’t even know the Premier Rewards card existed – it’s branding just blended in with the normal Gold card, but there are indeed some key differences – particularly related to spend bonuses.

High level details:

Annual Fees:
Gold $125
Premier Rewards Gold: $0 Intro annual fee for the first year, then $195

Card type: Charge card (both), which means there is no pre-set spending limit, but you have to pay it off every month or else you get hit with serious fees and high interest rates.

Membership Rewards (both). Transfer points to a number of airlines (see below) or use points to buy travel (1 point = 1 cent and tickets/hotels purchased this way earn miles and elite status)
Star Alliance: Air Canada Aeroplan, Continental (Until September 30, 2011), Singapore, ANA
Oneworld: British Airways, Iberia
Skyteam: Delta, Air France/KLM Flying Blue, Alitalia, Aeromexico
Other: Airtran, Virgin Atlantic, El Al, Frontier, JetBlue, Hawaiian

Point Earning:
Gold:1 point per dollar spent, 2x points for travel, 4x through Amex Bonus Points Mall
Premier Rewards Gold: Earn 3X points per $1 on flights booked directly with airlines, double points on gas and groceries**, and single points on virtually everything else.
*Only purchases of tickets on all major U.S. passenger airlines and many international airlines
** Charges at U.S. stand-alone gas stations and supermarkets, are eligible for bonus points. Charges at tour operators, charter flights, departments of superstores, or warehouse clubs are not eligible for bonus points.

Current sign-up bonus:
Gold: 10,000
Premier Rewards Gold: 25,000
It may be possible to bump both of these to 75,000 per the comments on this post.

Global Travel Assistance?: Yes (both). See benefit details here.

Lost Baggage Coverage?: Yes (both). See benefit details here.

Foreign Transaction Fees?: Yes (both), 2.7% on all foreign purchases.

Point Expiration?: American Express Membership Rewards points do not expire as long as you keep your card open and the account is in good standing. If you plan to cancel a card, I recommend transferring the points out into your frequent flyer account or redeem them for travel/giftcards.

So in summary, the Premier Rewards card is a much better card for only $50 more. I see no reason why (barring an exceptional targeted offer) someone would open a regular Gold card right now considering the sign-up bonus is less, the annual fee is not waived and the card comes with less benefits.

Additionally, the only time a regular Gold card might make sense is if you spend very little on your card and don’t buy travel, gas or groceries.

Feel free to share your thoughts on either of the cards or your experience bumping their sign-up bonuses to 75,000!

If you travel a lot – especially internationally, it might make sense to step up to the Platinum card.

The Platinum Card® from American Express

While this premium card has one of the highest annual fees on the market, it has several valuable perks that could make it worthwhile, depending on your travel patterns. These include a $200 annual airline rebate, lounge access, free Hilton Gold status and free Starwood Preferred Guest Gold status.

Apply Now
More Things to Know
  • Earn 40,000 Membership Rewards® points after you use your new Card to make $3,000 in purchases in your first 3 months.
  • 5X points for flights booked directly with airlines or with American Express Travel.
  • $200 Airline Fee Credit, up to $200 a year for baggage fees and more at one airline. Terms Apply.
  • As a Platinum Card Member, you can enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations worldwide. Terms Apply.
  • Enroll to enjoy the benefits of complimentary Hilton HHonors™ Gold Status with your Platinum Card.®
  • No interest charges because you pay your balance in full each month.
  • Terms and Conditions apply.
  • See Rates & Fees
Intro APR on Purchases
Regular APR
Annual Fee
Balance Transfer Fee
See Terms
Recommended Credit
Excellent Credit

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: 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.