When you should (or shouldn’t) use the Amex Gold Card


When You Should (or Shouldn’t) Use the Amex Gold Card

The American Express (Amex) Gold Card is a versatile credit card with good rewards and plenty of features that can make it a valuable addition to your wallet. However, like any other credit card, the Amex Gold Card isn’t the right fit for everyone. This article outlines when you should – or shouldn’t – use the Amex Gold Card.

Advantages of the Amex Gold Card

The Amex Gold Card has many benefits, including:

  • Earn reward points. With every purchase you make, you get 3 points for every dollar you spend in dining, 2 for flights booked direct with airlines, and 1 for other purchases.
  • No annual fee. There is no annual fee associated with the Amex Gold Card.
  • Flexible payment options. You can choose your payment due date, the amount of your payment, and the number of payments.

Disadvantages of Using the Amex Gold Card

While the Amex Gold Card has many benefits, there are a few drawbacks to consider:

  • High APR. While the Amex Gold Card has no annual fee, it does have a high APR (annual percentage rate).
  • Foreign transaction fee. There is a 3% foreign transaction fee for purchases made outside the US.
  • Limited spending power. The Amex Gold Card has a limited spending power, and it is not a good option for large purchases.

When You Should Use the Amex Gold Card

The Amex Gold Card is a great choice if you meet the following criteria:

  • You spend a lot on food. If you frequently eat out, the 3 points for every dollar you spend in dining makes the Amex Gold Card an ideal choice.
  • You travel often. The 2 points for every dollar you spend on flights makes this a good card for frequent flyers.
  • You prefer a flexible payment option. The Amex Gold Card offers flexible payment options that make it easy to pay your bills on time and avoid late fees.

When You Shouldn’t Use the Amex Gold Card

The Amex Gold Card isn’t the right choice if:

  • You want to make a large purchase. The Amex Gold Card has a limited spending power, and is not the best choice for large purchases.
  • You make frequent foreign purchases. The Amex Gold Card has a 3% foreign transaction fee, and is not ideal for those who make frequent purchases abroad.
  • You want a low APR. The Amex Gold Card has a high APR, and is not the best option if you are looking for a low-interest credit card.

In conclusion, the Amex Gold Card has its advantages and disadvantages. Before deciding whether or not to use the Amex Gold Card, be sure to consider the details of the card and make sure it’s the right fit for your lifestyle.

You May Also Like

More From Author