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American Express Gold Rewards Card Review

18 October 2010

1263988408 amex logo 150x150 American Express Gold Rewards Card ReviewThis series has been sponsored by American Express Canada, one of the world’s largest crdit card companies. Providing its clients with outstanding service and products. Using American Express credit cards allows you to connect to a majority of merchants around the world. Come join the American Express merchant family or become a card holder.

American Express is launching a unique and exciting product in the rewards market.

American Express Gold Charge Card American Express Gold Rewards Card Review

On October 1, 2010, American Express launched their American Express Gold Rewards Card. The Card will be a charge card and offer a great number of benefits, all designed with you, the consumer in mind.

The American Express Gold Rewards Card combines the best of both frequent-flyer and pay-with-points systems in that it allows for the choice consumers want in their rewards. Effectively, it is a twofold rewards program: having the option to book a trip through any travel provider (online or with a provider) with Amex’s TripFlex option and being allowed to transfer points to a favourite frequent flyer program.

The Card is aimed at and suited for both the occasional traveller and frequent flyer. If you’ve used reward programs before, you notice there are some restrictions. For example, some programs make you choose between booking through a frequent flyer program or finding the travel you want (online or elsewhere) and then paying with points. American Express Gold Rewards Card is an excellent way to get the most from your everyday spending, without feeling constrained by these types of restrictions associated with other programs.

This Card is designed with the answer “yes” in mind. Freedom is certainly associated with this Card you can pay for ANY type of travel with your accumulated points using ANY form of booking you so choose, whether it be through a travel agent, online booking, tour operator, etc. There are no limits on the amount of points you can acquire, and they never expire. You simply charge your travel to the Card and then call American Express to pay-with-points.

The American Express Gold Rewards Card is a “charge card”. A charge card is different from a credit card in that the balance is required to be paid in full by the end of the month. This is a great feature because it offers convenience and rewards without encouraging debt. You get all the benefits of paying with plastic as you would a credit card – with the added financial responsibility that is often attributed to paying with debit/cash.

Let’s talk a few of the fundamental features of the Card:

There is no-fee on the Card for the first year – you then incur a $150 annual fee. If you wish to have a supplementary card, your first card is free and additional cards are free for the first year and $50 per year thereafter. A welcome bonus of 15,000 points is awarded when the cardmember reaches $500 in purchases in the first three months of having the Card– so if you know you’ll be making a purchase of $500 or more in the next few months and are in the market for a new Card, this is a great opportunity to earn a lot of points. There is no pre-set spending limit – the credit line is dynamic and adjusts based on YOUR spending patterns. In terms of travel/insurance protection, customers will enjoy:

- 15-day Out of Province/Country Emergency Medical Insurance

- Trip Interruption Insurance

- $500,000 Travel Accident Insurance

- Car Rental Theft and Damage Insurance

- Lost or Stolen Baggage Insurance

- Flight and Baggage Delay Insurance

- Hotel/Motel Burglary Insurance

- Purchase Protection Plan

- Buyer’s Assurance Protection Plan

- Travel Emergency Assistance

The Card also offers DOUBLE points on ALL travel spend, as well as purchases made at grocery stores, gas stations, and drugstores. This is a huge advantage for you as a consumer because these are all purchases likely to be made on a regular basis –not simply a one-time thing. One point per dollar is still earned for all other purchases, and since you’re going to spend this money anyway, why not accumulate points that will go toward rewards in the process?

For more information about the Gold Rewards Card visit

About the Author

Bank Guru

My real name is Banking “Guru” Smith, yes my parents were bankers and believed that I one day would become a famous banker just like them. I enjoy a double-double coffee, super long lines at the grocery store and annoying CSR’s (Customer Service Representatives or more commonly known as ‘Tellers’). You will usually find me working behind the scenes, I let Sensei generate all the attention. I also forgot to mention that I invested in Madoff, think I will ever get my money back?

Comments (2 )

Mike Wrote:

Great review! I just signed up (because of you), I’m hoping it will keep my finances in order. I have the tendency with a credit card to go over each month. I think a charge card like this one will force me to pay it off each month.

Thanks again!

Julia C. Wrote:

I think having a gold card in your wallet and putting that on the table confirms you ‘made it’ to everyone. Even though you might not have! lol

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