When (if ever) Is The Amex Gold Worth It?
Vložit
- čas přidán 24. 07. 2024
- When do you get positive value from the American Express® Gold Card? To see my essential cards right now go 👉 rdguarantee.link/Best-Credit-... and Click "Show More" to see Ad Disclosure.
✅ Featured In this Video:
➔ American Express® Gold Card: rdguarantee.link/Gold-Card-Re...
💳 My Favorite Cards:
➔ Chase Sapphire Preferred® Card: rdguarantee.link/Chase-Sapphire
➔ Capital One Venture X Rewards Credit Card: rdguarantee.link/Capital-One-...
➔ Discover It Card: rdguarantee.link/Discover
💰 Best Financial Apps:
➔ Robinhood (Free Stock up to $200): rdguarantee.link/Robinhood
➔ CashApp (Free $5): rdguarantee.link/CashApp
➔ Venmo (Free $10): rdguarantee.link/Venmo
💎 Wallets and Financial Lifestyle Gear
➔ Andar (CODE: "Guarantee15" for 15% off) rdguarantee.link/Andar-Lifest...
🏦 Best Banking & Checking
➔ SoFi High Yield Savings and Checking: rdguarantee.link/SoFi-Checkin...
☕️ Let’s Connect:
➔ buymeacoffee.com/TheRDGuarantee
✏️ My Thoughts:
I set out to confront the criticism that the American Express® Gold Card didn't provide value in 2024. As other cards (like the Savor One Cash Rewards and Citi Premiere Card) get closer and closer to challenging American Express® Gold Card, the American Express® Gold Card has been under fire for not providing as much value as its competitors. Additionally with a $250 annual fee, some people are starting to ask if the American Express® Gold Card is worth it.
This goal of this video is not to support or crush the American Express® Gold Card, but to help you figure out WHEN this card becomes worth it in your live for adding positive value. I give my honest opinion on the dining credit and Uber credit that the card is known for. Additionally, I take the typical spending in elevated rewards categories (like food and groceries) and see how much a typical person, two people, or family of four could expect to make in rewards off of this card in one year.
I hope this helps you decide if the AmEx Gold is or is not the right card for you!
⏰Timestamps:
0:00 - Intro
0:54 - Card Problems
1:56 - Two Credits
5:15 - Is it Worth it?
6:34 - Rewards Calculations
8:05 - Final Takeaway
🚩Advertiser Disclosure:
This video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned and has not been reviewed, approved, or otherwise endorsed by any of these entities. Offers are current only as the time of the video publishing date and may have changed by the time you watch it.
The RD Guarantee is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as Milevalue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more." at the beginning of editorial articles that reference American Express products, services or offers.
Just got the card. I should come out on top. I spend $10k a year on food. Use Uber twice a month. Love Cheesecake factory and wine
Oh yea, that'll be worth (just on points alone) $400 to you for booking travel which beats the annual fee, but it sounds like your effective annual fee is going to be MUCH lower because you already uber go to The Cheesecake Factory (which is awesome by the way) and like wine.
Thanks for this honest look at the Gold 👍
You bet! 👊🏼
I just love the card. I get a lot of points and I live in an area where there aren't many around, so cashiers always check out the metal card. The points are very useful when converted to Hilton's Honors points.
In my opinion, on looks alone, this card stands out more than any other
Great video. Curious to hear your thoughts on comparing this card with the WF Autograph where you get 3x on restaurants, travel, ride share, streaming and wireless services payments, but no groceries at 1x and $0 annual rate. I am unsure if getting the gold card makes any sense. I am interested in a Delta card though but don’t know much about Amex’s specific traveling booking sites. I tend to go on Booking for hotels and have even found great flights there. I love Delta as a company. Ugh 1st world problems
Thanks man! The Gold Card is going to win every time for the first few years because of the positive value the SUB brings. I think the standard offer is 60,000 Membership Rewards points at the moment.
Then you have to get into volume of purchases. Do you have a family? If so you're probably buying tons of food/eating out and those 4x points in either will add up.
If you only have to worry about yourself, you may not have the necessary spend to keep up with the $250 annual fee and getting the 3x back on categories that The Autograph offers is the choice + you never have to worry about not getting value out of a $0 annual fee card.
Lots of good stuff here. I don't have a Delta card yet so I don't have a ton of thoughts down that path ATM.
Good luck!
Really liked the video. Most CZcamsrs are not brave enough to show so much math. I am glad that you did. The conclusion I draw from your video is using an Amex Gold in the elevated spending categories beats using a debit card for the average spender.. However your calculations neglect the opportunity cost of using a different credit card. So for me the AMEX Gold would be good for only one year.
Great summary haha
Even though you can get positive value, could you get even better value elsewhere? Hopefully this is helpful but it’s up to each person to answer themselves.
Thanks for watching!
As little as one or two new cards with SuBs each year eat into the sum of yearly spend leaving less of it to offset the annual fee.
I think whats the worse part is that x4 on supermarket (similar to what chase does) doesnt include walmart or target which is where most ppl wil do their groceries. So without reading the fine print you could end up getting a card that is not even worth it
Same situation I’m in. Walmart is close by and the prices are lower so it just makes sense to do grocery shopping there.
4% back is awesome but it has to fit your situation
@@TheRDGuarantee i think no card gives elevated bonus for those supermarkets besides the VX 2%. But maybe im wrong
The rewards calculation should be done with opportunity cost. 3x savor one vs 4x amex gold and then compare the annual fees. Amex gold isn’t worth it if you’re a single person.
Never got the sign on bonus because I had another amex card Be careful
That sucks! American Express has a new policy that they will only give SUB as you move up the ladder.
Which is ridiculous IMO because the Gold is not “down ladder” from Platinum. They’re two completely different cards
Glorified coupon book.
Some AmEx are but I feel like the Gold is better than that for the right person.
Cancelled this card a while ago, when they switched from airline to Uber credits. This card sucks. You better off with Citi Combo (Premier, multiple Custom Cashes, Double cash, Rewards+ and Curve) or Cap1 combo (Venture X/Venture/Venture One + Savor/Savor One), or Amex Combo (1 or 2 EDP + BBP). There is also USB Altitude Go + Altitude Reserve (or just AR itself), or Bilt card for dining alone.