As travel and spending freedom are the key factors of the modern world, the American Express® Gold Card aiming at giving the finest opportunities and services to the cardholders will be excellent partners for those who are interested.
Below we provide you with an in-depth analysis of features and characteristics of the American Express Gold Card focusing on the fees it requires, the perks you receive, and how to become an American Express Gold Cardholder.
Key information about the credit card
How does the annual fee work?
The American Express® Gold Card also has a yearly fee which is quite expectant to provide the service of a Gold Card. The fees range from $250 annual fee for cardholders which is not high given the great many services cardholders are offered. Compared to some cards that allow for the waiver or decrease of the annual fee depending on the extent of spending, the Gold Card’s annual fee can be considered fixed.
How is the credit limit determined?
First of all, it cannot be denied that the American Express® Gold Card offers several significant benefits among which there is no pre-set spending limit. This particular feature allows cardholders to enjoy formidable freedom: they can make extremely large purchases at once employing this credit card without worrying about limited purchasing power fixed by the card’s limit.
Advantages of the credit card
- Contactless Metal Card: An aluminum card designed for tap and go payments that advances easy purchases.
- Priority Pass Membership: Save money at your pocket with free membership, and access to two visits per year to over 1,300 airport lounges globally.
- Travel Inconvenience Insurance: Benefits that include covering counsels for flight delays, cancellation and baggage delay towards a worry-free travel.
- Membership Rewards® Points: Collected points for each dollar spent, that can be used to redeem for vacations, gifts and much more.
Standout advantage
The most notable feature that you get while using the American Express® Gold Card is the mobility feature that is the Membership Rewards® program. Members gain rebates for every transaction that they make, and the points that they earn can be used in exchanging for a variety of incentives such as travel policies, merchandise, and a lot more.
Disadvantages
- Annual fee: The annual fees are relatively high especially for the no foreign transaction fee version that attracts an annual fee of $250.
- Foreign transaction fees: It is expensive to make international purchases because the charges could rack up.
- Limited availability: Currently accessible only to inhabitants of some of the countries in Latin America and the Caribbean.
A standout disadvantage
The main negative aspect is the card’s annual fee. Cost wise, it has a yearly fee of $250 which can be categorized as rather expensive compared to most credit cards. However, the fee is warranted given the numerous perks that come with it; including travel insurance, access to a lot of airport lounges, and a very solid rewards program.
Who can apply for this card?
This card is targeted to specific people and among them include those who apply for the American Express® Gold Card. It is usually mandatory that the applicants be residents of specific countries within the South American area or the Caribbean region excluding the commonwealth of Puerto Rico and the US Virgin Islands.
Also, the/company shall have at least $50,000 held in a financial institution in the US. The card is not for the citizens as well as the individuals in green card status which limits its use to the foreigners in the United States.
They should also possess good to excellent credit score since this shows their credit worthiness and credit behavior. Despite the ample number of rewards and benefits given to the cardholders, the availability of this particular card is limited, which is quite logical since it is targeted at the wealthy customers only.
How to apply for the American Express® Gold Card
For the website
To apply for the American Express® Gold Card online you have to go to the website of the company. Initially, go to the gold card portion of the website and select the ‘apply now’ link. These are sections containing your identification data such as your name and address, and your financial data as well. Before you fill the form, make sure that you qualify for the scholarship as per the set requirements.
The operational model of the online platform allows using it within a few minutes to get the desired result. After submitting it, the application is forwarded to American Express where after considering it, the applicant receives a word as to whether he/she has been approved or rejected.
Through the app
Applying through the mobile app available on the American Express is another common way people use as well. Firstly, save the application on your smart device from the appropriate shop or the market. After installing; enter your current AMEX login details if you have one or create a new account if you don’t have any AMEX account.
Under the Gold Card site, start the process for this card application. At each step of the process, she is let to fill in required data such as financial information and the proof of residence. The particularity of the Mobile App which provides a fast and safe way to apply for a job, and to get informed of the application status.
At the branch
But for those people who are comfortable with face-to-face application process, there is an option of applying in a center that has been set aside for the American Express cards agency. Make your way to the branch or an authorized store that sells the American Express® Gold Card. Talk to an agent that will help you fill the application form with appropriate information.
They can also give more details and clarify any issue that you may want to know concerning the card’s details and conditions. Applying in person is beneficial in the sense that one can be attended to instantly and one is sure that proper paperwork has been done. After that you submit your application, it will undergo certain approval and once your application is approved you will be informed.
