American Express Premier Rewards Gold Card Review (before June 2015)
Updated March 27, 2015. This review is for the old product between January 2015 and June 2015. For the current product, please visit this review.
The Facts
The Math
Amex PR Gold vs. Amex EveryDay Preferred: We thought EveryDay Preferred was a better card for most consumers when it was introduced in April 2014. We commented "Only when you have large airfare purchases and/or extremely high grocery spending, PR Gold will make sense." Now with PR Gold's 15K points booster gone, EveryDay Preferred completely leaves PR Gold in the dust.
Amex PR Gold vs. Chase Sapphire Preferred: Both card returns 3x on airfare but they have different 2x categories - Amex has gas and groceries and Chase has dining and travel. Our current valuation of MR points and UR points are similar, but Sapphire Preferred is $80 cheaper than PR Gold in annual fees and offers zero foreign transaction fees and primary rental car insurance. So obviously Sapphire Preferred provides much better value in general. Also as stated before, unless you have extremely high grocery spending, EveryDay Preferred will be the card to have when you want MR points and bonus for gas and groceries.
The Conclusion
After the overhaul in 2010, the Amex PR Gold finally met our expectation and gained popularity quickly among frequent travelers. That was the reason it was on our Top List for several years. However, with the introduction of Amex EveryDay Preferred in 2014, we had to take it down from the list since we thought the latter makes more sense for most consumers. The 2015 devaluation made us even less interested in PR Gold and we will recommend Chase Sapphire Preferred or/and Amex EveryDay Preferred to the current PR Gold holders if they want to switch.
The Facts
- Annual Fee: the first year free and $175 thereafter for the primary cardholder; $0 for up to five additional cards and $35 for each after the fifth additional card.
- Signup Bonus: 25,000 points
- Rewards: 3x airfare, 2x U.S. gas stations and U.S. grocery stores, 1x everywhere else.
- Best Use of Membership Rewards (MR) Points: Normally, Amex Membership Rewards points can be redeemed for statement credit, merchandise gift cards, travel, shopping, etc., up to 1 cent per point. However, Amex Premier Rewards Gold, along with some other products, is eligible for the transfer feature that allows points to be transferred to frequent flyer miles or frequent guest points. Please see our featured review on five major programs that have transfer features - SPG vs. MR. vs. UR vs. TY vs. CR.
- Other Benefits: The Hotel Collection ($75 credit and room upgrade upon availability when booking a two-night-minimum stay). Gold Card Destinations (vacation package saving). Gold Card Events.
- History: Amex Gold used to be weak in rewards and high in annual fees, and was only considered for its image of superior social status. However, in 2010 overhaul, even though the annual fee was kept high, Amex finally made the card attractive to regular consumers by introducing the 3-2-1 rewards structure and the 15K point booster when annual spending exceeds $30K. In 2015, Amex took away the 15K point booster, which obviously made the card much less attractive.
The Math
Amex PR Gold vs. Amex EveryDay Preferred: We thought EveryDay Preferred was a better card for most consumers when it was introduced in April 2014. We commented "Only when you have large airfare purchases and/or extremely high grocery spending, PR Gold will make sense." Now with PR Gold's 15K points booster gone, EveryDay Preferred completely leaves PR Gold in the dust.
Amex PR Gold vs. Chase Sapphire Preferred: Both card returns 3x on airfare but they have different 2x categories - Amex has gas and groceries and Chase has dining and travel. Our current valuation of MR points and UR points are similar, but Sapphire Preferred is $80 cheaper than PR Gold in annual fees and offers zero foreign transaction fees and primary rental car insurance. So obviously Sapphire Preferred provides much better value in general. Also as stated before, unless you have extremely high grocery spending, EveryDay Preferred will be the card to have when you want MR points and bonus for gas and groceries.
The Conclusion
After the overhaul in 2010, the Amex PR Gold finally met our expectation and gained popularity quickly among frequent travelers. That was the reason it was on our Top List for several years. However, with the introduction of Amex EveryDay Preferred in 2014, we had to take it down from the list since we thought the latter makes more sense for most consumers. The 2015 devaluation made us even less interested in PR Gold and we will recommend Chase Sapphire Preferred or/and Amex EveryDay Preferred to the current PR Gold holders if they want to switch.