I woke up at 8 AM this morning and as I often do, I turned off my alarm and went back to sleep. By 9:30 I hear knocking at my front door and find that UPS had dropped off a stiff envelope for me. I was initially confused, as to what the package was, but I soon realized that it contained my newly minted American Express Premier Rewards Gold Card! I had only just been approved about a day and a half ago, so the turn around time was a pleasant surprise.
I must admit that Amex’s targeted mailing advertisement lured me into sign up. I usually pay no mind to the random credit card junk that I receive in the mail but this one jumped out at me…50,000 membership rewards point sign-up bonus for this card. OK, American Express, you have my attention.
Here’s the deal: I get 50,000 membership rewards points as a bonus once I have spent $2,000 on eligible purchase within the first 3 months.
Awesome. I can totally manage to swing that and since I also received a 40,000 mile bonus from my Capital One Venture Card a few months back, I should be having some sweet travel arrangements within the next couple months.
Now, as understand it, this was a targeted offer based on my own pre-qualifications. I have very good credit but not like an elite level credit score or anything like that. So, while I can’t say for certain what the minimum credit score is or what specific qualifications one needs to get approved, I can say that it probably isn’t too difficult. I got approved in less than a minute, so yeah, you will find out quickly.
Also, since this was a targeted offer, the 50,000 bonus was unique to this mailing (apparently, there was a 75,000 point bonus a few years back…wishing that was still around). As of now, when I check on the American Express website, the deal is for 25,000 membership rewards points…which is disappointing in many respects, when there are better deals out there. On the other hand, a 50,000 point sign-up bonus is still ahead of American Express’ current 40,000 when signing up for their Platinum card…so I’m quite happy with this offer.
Premier Rewards Gold Card Breakdown
Remember, this is not a credit card. With this Amex charge card, you pay the balance off for every pay period.
Annual Membership Fee? Yes, $195 per year. However, the first year is waived.
Transaction Fees? No, foreign transaction fees.
- 1 point for every dollar spent on eligible purchases
- 3x points for flights booked directly with airlines
- 2x points at US gas stations and supermarkets
- 2x points at US restaurants
Premier Rewards Gold Card Featured Benefits
- The earning of further Membership Rewards points, as broken down above
- $100 per year airline fee credit. Can be used for checked bags, etc. This is an awesome little side benefit to help save some cash.
- No Foreign Transaction Fee
- The Hotel Collection: Get up to a $75 credit on qualifying charges when booking a stay of at least 2 consecutive nights at select hotels. More details here.
- Purchase and Return Protection
- Transfer Points to select frequent traveler programs
- Earn 2x Membership Rewards points at Amextravel.com
- Various other insurance plans
- Special offers and benefits from select retailers
I’m not sure if everyone is in the same boat or not who signs up for this card, but I had no pre-set spending limit imposed on me. Although, they do reserve the right to not approve of some large purchases…you can always check how much they will approve for a purchase in your personal payment portal, once you have been approved and activate your account.
Is the American Express Premier Rewards Gold Worth It?
For my purposes, I believe it will be a perfect fit for me. The 50,000 Membership Rewards Point bonus is obviously the biggest selling point and I probably would have ignored the 25,000 point offer. I can’t wait to get those points on my account and then redeem them as part of some great trip that I have yet to plan.
I like all of the possible benefits which come along with this card and the low $2,000 spending qualification in the first 3 months is a very low bar to step over in order to get all them pretty points. This, like the Capital One Venture card, seems to be more beneficial for those who are frequent travelers rather than strictly wanting cash back. Both still offer redeemable benefits outside of the travel realm of course, but it seems that travel is right in their wheelhouse.
That being said, is this card for everyone? Of course not. It will strictly depend on your own individual needs and what offers you can personally get if you are approved. It goes without saying that if you have poor credit or would have trouble paying off your statement each month, then don’t go chasing rewards points because you might get yourself into serious financial trouble in the process.