updated Apr 11, 2016
While it does offer a number of exclusive travel and lifestyle benefits, the real power of this card lies in its rewards earning potential. If you are wondering how this card compares to other premium rewards credit cards out there, and whether it is worth the annual fee, then read on.
In this review, we list the pros and cons of Premier Rewards Gold Card from American Express and compare it to similar cards so that you can get a clear picture of what this card really offers.
Introductory annual fee of $0 for the first year, then $195.
You can also redeem points for Plenti® points, which are used by a number of major retailers (Macy’s, Mobil, Nationwide, Rite Aid, AT&T, Exxon). If you prefer to redeem for airfare, you can use Pay with Points at American Express Travel. The Membership Rewards® program also lets you redeem points towards the cost of purchases you make with your Premier Rewards Gold Card from American Express, and even use points to pay right at the cash register at some partner merchants (McDonalds for one) or checkout (Amazon.com, Uber, Airbnb and more).
Chase Sapphire Preferred® Card is another premium rewards card. To start off you earn 50,000 bonus points after you spend $4,000 on purchases in you first 3 months from the time your account is opened ($625 in travel when redeemed through Chase Ultimate Rewards®). That's a much higher bonus than Premier Rewards Gold Card from American Express offers, but also requires higher spending. You earn 5,000 bonus points after adding the first authorized user to your card account, and making 1 or more purchases in the first 3 months after account opening. You earn 2X points per $1 on travel and dining at restaurants, and 1 point per $1 of other purchases charged to this card. By comparison, using Premier Rewards Gold Card from American Express you earn 3X points per $1 for flights you book directly with airlines, 2X points per $1 at US gas stations, US restaurants and US supermarkets, and 1X point per $1 on other purchases (terms and limitations apply). In our opinion, Premier Rewards Gold Card from American Express will be more rewarding for average spenders because it rewards you for purchases you make everyday, as well as some travel spending. Chase Sapphire Preferred® Card lets you 1:1 transfer points to leading frequent travel programs at full value (1,000 Chase Ultimate Rewards points equal 1,000 partner miles/points), but Premier Rewards Gold Card from American Express cardholders enjoy a similar transfer benefit for their Membership Rewards® Points. The partner frequent travel programs are different for both cards, and if you expect to transfer points in the future, you should make sure your frequent travel programs are partners. You can find out more about this here. Chase Sapphire Preferred® Card scores with a number of useful benefits, including primary auto rental collision damage waiver, trip cancellation/trip interruption insurance, trip delay reimbursement, lost luggage reimbursement, baggage delay reimbursement, and travel accident insurance. Premier Rewards Gold Card from American Express, for its part, impresses with the airline and hotel credits it gives you, although the travel insurance coverage doesn't quite match what you get with Chase Sapphire Preferred® Card. If you travel a lot, then this card can be very rewarding. However, if things like gas and groceries make up a large part of your budget, and you prefer booking your flights directly with airlines, then Premier Rewards Gold Card from American Express will probably be more rewarding. However, Chase Sapphire Preferred® Card has a lower annual fee (introductory annual fee of $0 the first year, then $95) compared to Premier Rewards Gold Card from American Express ($0 introductory annual fee for the first year, then $195).
The Platinum Card® from American Express stands, as its name implies, a good head taller than Premier Rewards Gold Card from American Express. Unlike Premier Rewards Gold Card from American Express, which is primarily a rewards card with some useful travel benefits, this charge card is all about lifestyle. If you travel a lot, you will probably love perks like the $200 airline fee credit every year (towards baggage fees and more at 1 airline you choose), a statement credit every 5 years towards your successful application for Global Entry ($100) or TSA Pre✓® ($85), Hilton HHonors™ Gold Status, Starwood Preferred Guest Gold status, complimentary membership in premium car rental programs, complimentary access to over 850 airport lounges (The Centurion® lounge network, complimentary Priority Pass™ Select when you enroll, Delta Sky Club®, Airspace Lounges) and complimentary, unlimited Wi-Fi access from Boingo when you enroll in the American Express Preferred Plan. You also get some of the most comprehensive travel insurance available through a US payment card, including travel accident insurance, a baggage insurance plan and Premium Roadside Assistance at no extra cost up to 4 times per calendar year (towing up to 10 miles, winching, jump starts, flat tire change when you have a workable spare, lockout service when key is in vehicle, delivery of up to 2 gallons of fuel). Besides these travel perks, you also get access to the Platinum Card® Concierge service, specially curated By Invitation Only® experiences and events, preferred seating at many sporting and cultural events, and preferred access to many popular restaurants. You also get special privileges and discounts on cruises, and benefits at hotels (more about that here). If you take full advantage of the lifestyle benefits, then this card is definitely worth the $450 annual fee. However, if your main goal is earning rewards, you may actually come off better with Premier Rewards Gold Card from American Express because it lets you earn bonus rewards on more of your spending.
Premier Rewards Gold Card from American Express lets you earn rewards for purchases which you probably already make, and at a fast rate. It also gives you useful travel benefits.
Premier Rewards Gold Card from American Express is both a powerful rewards card and a useful travel card. It is a fantastic card to use if you want to earn rewards on everyday expenses like gas, groceries and restaurant dining. At the same time, it reserves its highest points-earning rate for flights booked directly with airlines. Because Membership Rewards® Points can be transferred to a number of partner frequent travel programs at a 1:1 transfer rate, you may actually get a better deal using this card to earn points, and then transferring them to your frequent travel program compared to using the airline or hotel credit card (most of those don't have high earning rates). The fact that you can redeem your points directly towards covering the cost of purchases charged to the card makes it almost as flexible as a cash back credit card.
But it isn't only the solid Membership Rewards® program that makes this card a winner. The complimentary travel insurance, annual airline fee credit of up to $100 for incidental fees with 1 airline, and the $75 hotel credit towards incidental fees when you stay 2 nights or more at participating properties with American Express Travel can add up to save you a lot more than what you spend on the annual fee.
If you want just one card which rewards you and lets you enjoy nice travel perks, Premier Rewards Gold Card from American Express is a good choice.
Click here to go to American Express' official website to apply online for the Premier Rewards Gold Card from American Express now.
Katrina Gutierrez is a writer at GET.com, a lifestyle and personal finance website. Email: firstname.lastname@example.org.
At GET.com it's all about your saving and getting experience. There's nothing more helpful for all of us Getters than a true life experience, a tip or a trick relating to a reviewed product. Read more about comments.
nice review reading after I just spoke with AMEX about getting out of PR Gold in lieu of no annual fee card. Was just told that the bonus after spending 30k will be no longer associated with the card come jan 1! This is what sold me in the first place! Doesn't appear to be such a good deal anymore.
October 21 2014 at 17:53
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At GET.com we compare credit cards and rate them objectively based on the credit card's features, interest rates and fees.
Cards are rated by our team based primarily on the basis of value for money to the cardholder. The GET.com team rates each card based on its annual fee, rewards, benefits, bonus, introductory APR, ongoing APR, flexibility (in how its benefits can be used and how rewards are earned and redeemed), and other card features.