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The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
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Why I became even more loyal to the Amex Gold during the coronavirus pandemic
Ethan's been a frequent flier for as long as he can remember, from studying abroad in Paris to moving to Shanghai after graduating college, where he served as TPG's eyes and ears for all things travel in the Asia-Pacific region. If you asked him where he wants to travel next he'd quote Anthony Bourdain and tell you "anytime I'm eating spicy noodles in a bowl, I'm happy."
September 3, 2020 • 8 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
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Quick summary
The article discusses how the pandemic has shifted the value of premium rewards cards, especially as travel slowed and issuers added temporary perks and credits.
While many cards introduced limited-time benefits, some popular options did not, yet remain valuable due to strong ongoing rewards in key categories.
Temporary promotions on competing cards may offer higher rewards at certain merchants, but these are often capped and set to expire soon.
Cards with consistently high rewards at restaurants and supermarkets are highlighted as strong choices for everyday spending, even as temporary offers phase out.
What to consider
Many of the limited-time perks and bonus categories introduced during the pandemic are set to expire in the coming months.
Some cards require enrollment to access statement credits or specific benefits, and caps may apply to rewards at certain merchants.
The article notes that some offers mentioned are no longer available.
What you'll miss from the article
A detailed comparison of ongoing versus temporary card benefits and how to evaluate which card best fits changing spending habits.
Generated by AI with support from our editorial team.
Update: Some offers mentioned below are no longer available. View the current offers here.
The ongoing coronavirus pandemic has forced travelers to rethink their credit card rewards strategy from the ground up.
This is especially true for more premium credit cards that have seen their value propositions completely upended. Normally, customers would pay several hundred dollars in upfront annual fees and slowly recoup that value through luxury travel perks, but that system has had to change with people not traveling right now.
In response to this unprecedented slowdown in travel, issuers have added limited-time perks, statement credits and bonus categories across dozens of cards this year already. The keywords here are limited time. While it's entirely possible that some of these promotions get extended, you shouldn't get used to these new benefits, as most of them will disappear over the coming months.
The American Express® Gold Card is perhaps the most popular card that hasn't had any limited-time COVID-19-related benefits added to it. Still, this pandemic, and the way it's changed people's spending patterns, has helped cement the Amex Gold's spot in my wallet for many years to come.
Read on to see why I love this card so much and will happily be renewing it even without any limited-time perks this year.
The American Express® Gold Card is relatively unique in an industry with a lot of similar card options. For starters, it straddles the line between premium and entry-level with a $250 annual fee (see rates and fees).
The welcome offer is 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first six months of card membership. Select applicants may be targeted for incredible a 75,000-point offer by checking the CardMatch Tool. Note: These offers are subject to change at any time.
The annual statement credit for the card:
Up to $120 annual dining credit. Earn up to $10 in statement credits monthly when you pay with the Gold Card at participating dining partners (up to $120 total per calendar year), including Grubhub, The Cheesecake Factory,Goldbelly, Wine.com, Milk Bar, and selectShake Shack locations. Enrollment required. This perk is a monthly statement credit similar to the annual Uber credit on The Platinum Card® from American Express, which helps offset its $695 annual fee (see rates and fees). It's easy to enroll through the Amex website to get this Amex Gold benefit. Enrollment required for select benefits.
Another reason the card is such a fan favorite has to do with its foodie-friendly bonus categories. Amex Gold cardholders earn 4x Membership Rewards points per dollar on dining at restaurants and at U.S. supermarkets (U.S. supermarkets capped at $25,000 in purchases per calendar year, then 1x).
The card also earns 3x points per dollar on flights booked directly with the airline or at amextravel.com and 1x everywhere else.
If you'd asked me at the beginning of 2020, I would have said that travel was one of the most important things in my life. While I'm itching to get back on the road as soon as it's safe to do so, this pandemic has also helped us separate our wants from our needs and reminded us what's truly essential.
There isn't much more essential than food, and that's an area where the Amex Gold leads the pack. Its 4x bonus categories for dining at restaurants and U.S. supermarkets (up to $25,000 per calendar year; then 1x) are among the best out there. And when coupled with the up to $10 monthly dining credit, they help make this card a one-stop-shop for dining out, cooking at home or relaxing on the couch with takeout or delivery. Enrollment required for select benefits.
At the moment we're seeing many cards offering bonus points on grocery purchases, temporarily displacing the Amex Gold from its spot near the top of the list. It's worth remembering though that many of these bonuses are capped and all of them have expiration dates.
For example, the Chase Sapphire Reserve® -- with its $550 annual fee -- had previously offered 5x points per dollar on your first $1,500 in monthly grocery purchases -- but that ended on June 30, 2020.
Once this limited time promotion ends, the Amex Gold will remain a top choice in these popular categories while many of its current competitors go back to earning a measly 1x.
High value with a modest annual fee
While the Amex Gold offers some great bonus categories, it's the high points multiplier that seals the deal. There aren't many cards out there that offer the ability to earn 4x transferable points per dollar or higher in any categories, let alone essential ones such as dining out and groceries.
(Photo by Eric Helgas / The Points Guy)
In fact, only two other transferable points-earning cards come to mind as offering 4x points or higher: The Citi Prestige® Card and The Platinum Card® from American Express. The Citi Prestige, at $495 a year, offers 5x points per dollar in air travel and restaurants. The Amex Platinum earns 5x on airfare booked directly with the airline or Amex Travel (starting Jan. 1, 2021, earn 5x points on up to $500,000 on these purchases per calendar year). Also, earn 5x points on prepaid hotels booked through Amex Travel. The information for the Citi Prestige has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
These cards carry annual fees of $495 and $695 respectively, much more than the $250 annual fee (see rates and fees) that the Amex Gold charges. Of course, all three cards offer various statement credits to help offset the annual fee, but you're still looking at twice the upfront cost with those other cards.
Many people simply don't travel enough to justify holding an ultra-premium credit card or aren't interesting in putting in the work necessary to maximize all the benefits to break even on the cost of the higher annual fees. The Amex Gold offers premium earning rates at a much more accessible price point. I'd personally much rather the card keep its 4x earning rate than raise the annual fee in exchange for a higher multiplier.
Bottom line
More often than not you have to pay a premium annual fee in order to unlock valuable bonus categories and benefits. I've always loved that the Amex Gold offers strong earning rates at a very accessible price point.
If anything, the slowdown in travel has only reminded me why I love this card so much. While there are a number of cards temporarily displacing it with limited-time bonus categories, once those promotions expire the Amex Gold will reclaim its spot near the top of my wallet — where I expect it to stay for many years to come.
Apply here for the American Express® Gold Card with a 60,000-point welcome offer.
Check the CardMatch Tool to see if you've been selected for 75,000-point welcome bonus (offers subject to change at any time).
Additional reporting by Chris Dong.
For rates and fees of the Amex Gold Card, please click here. For rates and fees of the Amex Platinum Card, please click here.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
