Yesterday in a Press Release, Amex announced the added benefit to the Amex Gold card, granting cardholders $10 monthly credits in Uber cash to use towards Uber and UberEats (starting early 2021). Plus a complimentary Eats Pass Membership for up to 12 months!
The Amex Gold Card used to be an everyone hater, due to the high annual fee ($250) and lack of solid benefits and credits to justify the high annual fee.
Amex is focusing to turn this around. That’s why they just added the $120 annual Uber/ Uber-Eats credit.
$120 Uber cash annually is definitely a bonus to the card, this benefit, along with other changes, garners the Amex Gold worth a revisit.
Earn a total of $2,040 with the Amex Gold Card!!
The card has an annual fee of $250.
This month though, Amex increased the welcome offer to 60,000 points if you spend $4,000 within the first 6 months. I think the offer might already make it worth the $250 annual fee.
Let’s look at the rest of the benefits which play a part in the Amex Gold card.
New! Uber Cash: The $10 monthly Uber cash is a nice plus for people using Uber and UberEats. It’s a little bonus but it goes a long way in terms of a quick lunch or a short Uber ride.
$100 Annual Airline Incidental Credit: Covers on any extra fees that come up when flying, including extra luggage fees, seat upgrades, and onboard wi-fi. This credit is rumored to be going away in 2022 but for 2021 the credit is still here. So if you sign up for the card today you can still get one $100 credit until January 2021 and another $100 credit after January 2021. Totaling $200 in airline incidental fee credits! (if you don’t fly often you can read in this post some neat tricks on how to cash out the airline incidental fee credit without flying)
$10 Monthly Credit at Restaurants and the like: Includes Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Shake Shack (not all locations), and also includes purchases at Boxed.com, at which any family can get their money’s worth with its huge selection of groceries at wholesale prices.
If you add up these credits your total will be:
$120 Uber cash + $120 at select restaurants or Boxed.com + $200 airline incidental credits ($100 before January 2021 and $100 after January 2021) = $440 in credits!
Please note, the monthly $10 Uber credit will first start in early 2021 so technically you need to deduct $20 for two months missed.
The $420 total is far greater than a $250 annual fee your paying, actually, to be exact it’s an additional $170 in profit! This surplus is beside the welcome bonus mentioned above of 60,000 points after spending $4,000 within the first 6 months. Valued at approximately $900!
Hey, did I forget the 4 points on up to $25,000 spent annually on groceries and restaurants? We can break it down realistically, for a family that spends $12,000 annually on groceries. They can earn a total of 48,000 points just on groceries alone! If you value Amex Membership Rewards at 1.5 cents per point then this will add another $720 cash value to the card!
$420 + $900 + $720 = $2,040!!
Is the $250 annual fee still too high? I think not!
But, here comes some more benefits
The Amex Gold Card includes benefits like no foreign transaction fee, auto rental collision insurance, lost luggage reimbursement, trip delay reimbursement. These benefits will have you flying at ease, just to know that any mishap will be covered by your Amex Gold insurances.
Plus you are covered with extended warranty protection and purchase protection to protect purchases that end up broken or lost.
For family life
The little parts which make up the excitements of the Amex Gold are worth looking into. It does seem that Amex is veering the card in the direction of benefiting the every-day life of a dad, mom, or family, rather than travel life. Think Uber cash and grocery rewards. We all look for investments that will pay for themselves. The Amex Gold Card is really a nice card to invest in, the annual fee will pay for itself 🙂
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