Amex Gold Card refresh: Increased annual fee, new statement credits — and a stylish white gold option
One of the most popular cards among TPG staffers and readers alike is the American Express? Gold Card.
The last time this card underwent a '"refresh" — meaning a change to its annual fee and benefits — was back in 2018. As we reported at the start of the year, we expected this card to be one of the 40 or so products that Amex would refresh in 2024.
Well, we were right. The Amex Gold is the latest card to have its annual fee hiked and its benefits structure changed.
But don't despair — the changes aren't as negative as we'd imagined they might be. Read on for a breakdown of the Amex Gold refresh and our analysis of the changes.
Increased annual fee
First of all, the Amex Gold annual fee has increased from $250 to $325 (see rates and fees), representing a 30% hike.
This higher annual fee is in effect immediately for new cardmembers (who can take advantage of a limited-time welcome offer outlined below). Existing cardmembers will see the increased fee for card renewals from Oct. 1, 2024.
I am surprised that the annual fee was only raised by $75; I thought it would be raised to at least $375 to match the American Express? Business Gold Card (see rates and fees).
If you are unhappy with the higher annual fee when it hits your account, I recommend contacting Amex by online chat or phone and asking for a retention offer or downgrading the card to the American Express? Green Card.
TPG credit cards writer Oliva Mittak says, "I intend to keep the card for now, but next year I'll consider downgrading to the Amex Green if I don't get enough value from the Gold to justify its annual fee."
The information for the American Express Green Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Capped earning rates
The Amex Gold has long been heralded by avid points and miles collectors for its high earning rates, especially for those who spend a lot on dining out and groceries. And the good news is that the card's earning rates have not changed.
The only change is a new cap on how much you can spend annually on restaurants before your earnings drop:
- 4 points per dollar on up to $50,000 in purchases on dining at restaurants, including takeout and delivery in the U.S., per calendar year (then 1 point per dollar)
The rest of the earning structure is staying the same:
- 4 points per dollar on up to $25,000 in purchases at U.S. supermarkets per calendar year (then 1 point per dollar)
- 3 points per dollar on flights booked directly from the airline or through Amex Travel
- 1 point per dollar on all other eligible purchases
These changes should not affect most cardmembers. With the new $50,000 dining cap, cardmembers can spend an average of $4,117 monthly on dining before the 4 points per dollar drops to just 1 point per dollar.
Even as an avid foodie and person who never cooks, I would have incredible difficulty reaching this monthly spending cap on dining. Indeed, most cardmembers might agree with this sentiment, with U.S. Census Data showing the average person spends $222 per month dining out. Therefore, I highly doubt this cap on restaurant spending will affect very many cardmembers.
New statement credits
The number of statement credits on this card is doubling from two to four. Along with the two existing statement credits:
- Up to $120 in annual Uber Cash: $10 in Uber Cash monthly for Uber Eats and Uber rides in the U.S. You must add the card to the Uber app to receive the Uber Cash benefit.
- Up to $10 in monthly dining statement credits when you pay with the Amex Gold Card at participating dining partners. Enrollment through the Amex website is required.
There are two new statement credits:
- Up to $100 in annual Resy credits (broken into two up to $50 biannual credits)*
- Up to $84 in annual Dunkin' credits (broken into up to $7 monthly credits)*
*Enrollment is required.
Cardmembers might not be pleased to see the addition of yet another statement credit, but the up to $100 Resy dining credits will be easy to use. The Resy credits are broken down into two up to $50 installments, one every six months.
These Resy dining credits are incredibly easy to use, and most cardmembers may maximize them without even realizing it. You just have to redeem it at any restaurant that offers Resy reservations, even if you don't make a reservation yourself. (Similar Resy credits were added to the Delta SkyMiles Amex cards in February when those cards were refreshed.)
I know I will have no trouble using this credit, as it is up to $50 in biannual credits, and when eating out, I often spend more than $50 before I even get to the main course.
TPG managing editor for credit cards Matt Moffitt says, "I'll keep this card, as the $75 annual increase will be more than offset by the up to $100 Resy credit. However, I realize this just creates more friction for cardmembers."
Additionally, cardmembers who enjoy coffee might be pleased by the addition of an up to $84 annual Dunkin' credit, broken down into up to $7 monthly credits.
Dunkin' is accessible to a lot of people in the U.S. who live in urban or suburban settings, with locations in 45 states. Dunkin' locations are also in many major airports, so cardmembers can utilize the credit to grab a quick coffee or donut before a flight. Despite this, I would have preferred if this were a Starbucks credit instead of Dunkin'.
This credit does not move the needle for me, as there are no Dunkin' stores in the state of Oregon, where I live. However, considering how much I travel to Arizona, California and New York, states with plenty of Dunkin' locations, I should be able to use this credit easily.
TPG credit cards editor Emily Thompson said, "At first, I was skeptical of the changes. I'll be able to use the full Dunkin' credit, which technically justifies the annual fee increase, but I'm annoyed at having to keep up with maximizing another set of credits each month. Having said that, after learning that the Resy credit will be easy to maximize, I think I'll be able to extract even more value from my card with these changes."
If you can fully utilize all four statement credits, you can get $424 in ongoing value each year.
Cardmembers can track progress toward the statement credits in the Benefits tab on the Amex app and website.
Small change to dining partners
As mentioned above, the Amex Gold includes a $10 monthly dining credit that can be used at participating merchants.
Shake Shack and Milk Bar will disappear from the list effective Sept. 26, and a new partner, Five Guys, has been added, effective immediately. The other dining partners are staying the same:
- Goldbelly
- Grubhub
- The Cheesecake Factory
- Wine.com
In my opinion, replacing Shake Shack with Five Guys is a good move, as Five Guys has four times the number of locations; Five Guys is in 49 states, with Shake Shack in only 33.
While I am personally disappointed that Shake Shack has been removed, as I live a four-minute walk from one, burger lovers still have another tasty option.
New white gold color
Amex often releases limited-edition card designs. We have seen this in the past with the Delta SkyMiles? Reserve American Express Card's limited-edition card made from pieces of a Boeing 747.
Similarly, Amex has released a limited-edition version of the Gold card in a new color: white gold. This is the third color option available, as Amex added a rose gold color back in 2022.
New cardmembers can request the white (or rose) gold color during their application, and existing cardmembers can also request a replacement white gold card.
I think the white gold is the best-looking color option and will hold up best over time. I have the standard gold color now and, unfortunately, it looks like it has seen better days.
Elevated welcome offer
As we have come to expect from an Amex card refresh, the issuer tends to offer an elevated welcome offer at the same time.
New applicants can earn 60,000 points after spending $6,000 on eligible purchases within the first six months of card membership, plus 20% back as a statement credit for eligible purchases at restaurants (up to $100) in the first six months. Offer ends November 6.
This welcome offer is worth up to $1,300 based on TPG's July 2024 valuations.
The standard offer is 60,000 points, so the addition of a $100 statement credit is welcome but not earth-shattering.
Bottom line
While some may not be thrilled about the annual fee increase, the Amex Gold still provides significant value. If you spend a large amount on groceries or dining, this card should continue to stay in your wallet due to its generous earning rates and ability to earn highly valuable transferable points.
This card is one of my keeper cards — and this refresh doesn't change that. I know I will be able to utilize the full value of the statement credits, which will net me over $400 in value each year, easily covering the increased annual fee.
However, if you are unhappy with the annual fee increase and do not find the new credits valuable, my advice is to not cancel your card right away. Instead, call or chat Amex to ask for a retention offer the next time your annual fee posts and see if they can offer you bonus points or an additional statement credit to entice you to remain a cardmember. If that doesn't work, consider downgrading your card to a lower-annual-fee card so that you can keep this credit line open and protect your credit score.
Apply here: American Express Gold Card
For rates and fees of the American Express Gold, click here.
For rates and fees of the American Express Business Gold, click here.