Is the Amex Gold Card Worth the Annual Fee?

Anytime a credit card charges an annual fee, you have a right to be cautious. After all, with so many great no fee cards out there, you no longer have to pay an annual fee to earn substantial amounts of rewards. 

That said, some cards with annual fees will play a really fun game with you. It's called, "let me give you the value of the annual fee in the form of perks and see if you'll bite." For some people, the game will be annoying and won't result in any financial gains. For others, the perks are so perfectly suited to their lifestyles, it would be a loss not to take advantage of them. 

The American Express® Gold Card plays this game really well. The card has an annual fee of $325 (see rates and fees). But it offers two annual statement credits that can help offset it, not to mention a welcome offer that can pay the fee more than twice over. Terms apply. Enrollment required. If you're a foodie or traveler on the hunt for a new food card, here's how the Amex Gold Card might be worth its annual fee. 

Rewards and credits that can more than cover the card's annual fee 

First, the basics. 

The American Express® Gold Card is a travel card that earns 4X Membership Rewards® Points at restaurants worldwide, 4X Membership Rewards® Points at U.S. supermarkets up to $25,000 each year in purchases, and 3X Membership Rewards® Points on flights booked directly with airlines or on amextravel.com (terms apply). If you have a big annual food budget, these earn rates alone could easily cover the card's annual fee (see rates and fees). 

But the card gets even sweeter. As a cardholder, you can get $240 or more of value by taking advantage of the following perks. 

• $120 in annual Uber Cash: After adding your Amex Gold Card to your Uber account, you'll get $10 each month in Uber Cash. Terms apply. You can use this on Uber rides and Uber Eats orders in the U.S. 
• $120 in annual dining credits: American Express will provide $10 in monthly dining credits when you use your Amex Gold Card at select restaurants and food delivery services, including Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar, and select Shake Shack locations. Terms apply. Enrollment required. 
• $100 hotel experience credit: Cardholders can get a $100 onsite experience credit when they book The Hotel Collection properties with American Express Travel for at least two consecutive nights. This credit may be used on qualifying activities such as dining or spa treatments. Terms apply. Benefit varies by property. 

For most people, the first two credits will be low-hanging fruit. If you already order groceries or takeout with a food delivery service, the Amex Gold Card will provide up to $120 toward Uber Eats and up to $120 toward Grubhub. Coupled together, these perks are only $10 shy of the card's annual fee (see rates and fees).

The hotel experience credit, however, might require some work. It can be applied toward qualifying activities, like in-room movies or spa treatments. You have to book at least two consecutive nights through American Express Travel for this credit to become available; then, you must pick a qualifying activity at your specific hotel (they vary by property). Finally, the experience has to be charged to your hotel room and will be deducted from your hotel bill at check out. Terms apply. 

Again, the hotel experience credit isn't as easy to grab as the Uber Cash or annual dining credit. But if you can snag one within a given year, you would add another $100 in value to this card. That would give you $340 of value in perks -- more than enough to pay for the card's annual fee (see rates and fees). 

An elevated welcome offer could pay for the card's annual fee three times over 

The Amex Gold Card's normal welcome offer is pretty good. New cardholders can earn 60,000 points + earn up to $100 back after spending $6,000 on eligible purchases within the first 6 months of card membership. Terms apply. If we value your points at $0.01 apiece, this offer would equal $600 in value. 

If you're one of the lucky few, however, American Express may serve you a better welcome offer. In my experience, I've seen two: one for 75,000 Membership Rewards® Points and one for 90,000 Membership Rewards® Points. Both special offers also require you to spend $6,000 on eligible purchases within the first 6 months of card membership. Terms apply. In other words, same spending, bigger reward. 

American Express doesn't serve these offers to every applicant. The best way to know if you're qualified is to check the Amex Gold Card's page on American Express's website. If you see a bigger welcome offer on that page, then you know you're eligible. If your regular browser doesn't work, try going incognito or using another device. 

Even without the elevated welcome offer, the Amex Gold Card can clearly pay for itself. Its statement credits nearly cover the annual fee, and its regular rewards rate can make up the difference for those who spend a lot at U.S. supermarkets and restaurants worldwide. If you can take full advantage of the its perks, this rewards card is worth applying for, especially if groceries and dining make up a large portion of your budget.