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When I think of a card with well-rounded benefits, flexible points and generous hotel and insurance perks, American Express is top of mind. While still not as widely accepted as competitor cards bearing the Visa or Mastercard name, the American Express Gold Rewards Card still stands out as one of the most flexible points cards in Canada. And it features a strong earn rate fit for frequent travellers looking to maximize their rewards.
With more and more cards to choose from, as well as improved airline credit cards like that from Air Canada/Aeroplan, American Express has further enhanced the Amex Gold Rewards card—albeit with an annual fee of $250. Plus, your card comes in one of two all-new metal colours, gold or rose gold.
AMEX Gold Rewards card quick facts
| Annual Fee | $250 |
| Rewards | 2 points per $1 spent on travel, gas, groceries and drug store purchases in Canada; 1 point per $1 on everything else |
| Welcome Offer |
50,000 points when you charge $3,000 in purchases to your card in your first 3 months; additional 10,000 points when you make a purchase between 14 and 17 months |
| Income Requirement | None specified |
| Purchase interest rate | None—this is a charge card and you’re required to pay off your balance in full every month |
| Best features | Flexible travel redemptions, competitive transfer options to partners like Aeroplan and Marriott Bonvoy, up to $100 annual travel credit, $50 NEXUS credit |
| Who it’s good for | Frequent flyers, savvy points collectors |
Get more details about the American Express Gold Rewards Card*
8 things to know about the Amex Gold Rewards Card
1. The card offers impressive points
The American Express Gold Rewards Card packs a punch with impressive points earn rates. You earn 2 Membership Rewards points for every $1 spent at eligible gas stations, grocery stores, drug stores and eligible travel purchases (flights, hotels, car rentals and cruises). For everything else, you earn 1 Membership Reward point per $1. Plus, if you book through the American Express travel portal, you earn an additional 1 Membership Reward point for every $1 charged to the card. As a new applicant, you’ll also get 25,000 bonus points when you charge $1,500 to your card within the first 3 months.
2. You can transfer your points to other loyalty programs
One of the biggest selling points of the American Express Gold Rewards card is the flexibility to transfer to partner programs that you might already be a member of, including airline and hotel groups like Aeroplan (Air Canada’s loyalty program), Marriott Bonvoy, British Airways Avios and others.
Through American Express’ website, you can browse a growing list of programs that allow you to exchange your points at a competitive ratio, enabling you to combine your points pools to access even larger and premium rewards. For example, you can transfer Membership Rewards points 1:1 to Aeroplan, and get up to 20% more value out of your points.
3. Flexible travel redemption options
Along with the huge array of transfer options, a major benefit of this card is the flexibility you get when redeeming points for travel within Amex’s own Membership Rewards program. You can apply points towards travel through the American Express Flexible Points Program, which enables you to find the best deals on your own, or you can redeem for travel through the Fixed Points program, which follows a regional redemption chart.
- Amex Flexible Points program is great for those who want to find deals on their own (whether online, through a travel agent, or via Airbnb). Every 1,000 Membership Rewards points you redeem gets you a $10 credit on your statement. You can use it towards eligible travel transactions, and that includes flights on any airline to hotels and car rentals. With a value of $0.01 per point, this is a strong option for the traveller who wants to book travel on their terms, without being tied to a specific airline or blackout dates. The 50,000-point welcome bonus equals a $500 credit on eligible travel transactions.
- Amex’s Fixed Points program can offer you a slightly better incentive, when used strategically. This option follows a regional redemption chart, enabling you to book travel domestically and internationally at competitive redemption rates for points. Depending on the destination and seat class desired, you can strategically redeem fewer points for travel (up to $0.02 per point on some short-haul flights domestically). Note, though, the Fixed Points program only applies to the base ticket price, not taxes and fees—but you can cover those charges using the Flexible Points to avoid paying anything out of pocket.
4. Travel insurance
If you’re considering an American Express Gold Rewards card, travel insurance is a big reason to go for it. A generous $5 million in travel medical emergency coverage is included for trips up to 15 days, while rental car collision, loss and damage waiver insurance will cover vehicles of up to $85,000. Plus, trip cancellation and interruption coverage, flight delay insurance, travel emergency assistance, and lost and delayed baggage insurance covers checked and carry-on baggage while in transit for up to a maximum of $500 per trip.
5. You’ll get Amex Perks
exclusive cardmember offers. Find access to discounts in your area on their website, or take advantage of offers to save on everyday purchases. Plus—the big one for many—Front of The Line access gives American Express customers an early chance to purchase tickets for concerts, shows and local events.
6. Access to an annual travel and NEXUS credits
Similar to the Gold Rewards Card’s cousin, the Platinum Card, included is a $100 Annual Travel Credit, for use once annually towards any single travel booking of $100 or more. The booking must be charged to the American Express Gold Rewards Card through American Express Travel Online. Additionally, a $50 NEXUS Card statement credit is offered upon charging the renewal fee to the card.
For stays, a US$100 hotel credit can be used for qualifying hotel amenities charged to the room during stays at eligible Hotel Collection properties. This gives you a chance to save on upgrades and experiences, like dining, spa services and golf. The credit can’t be applied to the cost of a hotel stay, but you can use it to elevate your experience once you’re at your destination. It’s important to note that taxes and fees are still charged to your card.
Finally, American Express extends four lounge passes for Plaza Premium Lounges, which can be used across Canada in airports like Vancouver and Toronto-Pearson. It is important to note that these four free visits are separate from the Priority Pass membership, which is also included but requires a fee to enter. Plaza Premium Lounges are no longer a part of Priority Pass.
7. The American Express Gold Rewards Card is a charge card
Unlike a credit card, American Express Gold Rewards is a charge card. This means there isn’t a preset card limit, which allows for flexibility if you need to make a big purchase. However, the statement balance must be paid in full each month. Transaction approvals are based on your customer record, how long you’ve had the account and whether you pay your balances on time.
8. Fees and income requirements
The annual fee for the American Express Gold Rewards Card is $250, up $100 from $150. This does come with a $100 annual travel credit, but still costs $11 more than similar travel cards at $139 a year. The premium is justified by the hefty welcome bonus, flexible earn and redemption model for points, and a robust travel insurance offering. The card offers a free first authorized user (whereas other cards charge you upwards of $50 per card, per year). And there is no specified minimum income requirement to qualify, theoretically making it more accessible to a wide range of people looking for premium travel rewards.
Are there any drawbacks to the Amex Gold Rewards Card?
Acceptance is still one of the biggest limitations of any American Express card. While the company is actively improving access to pay with small businesses and offering an easy search feature within their mobile app and website, Amex cards still aren’t as widely accepted as Visa or Mastercard. While American Express maintains a very large network of merchants, it is wise to also carry a second no-fee Visa or Mastercard credit card in case a store or other vendor doesn’t accept Amex.
Additionally, while Amex Gold Rewards offers access to more points-transfer partners than competitor cards, you can find higher accelerator rates on categories like grocery, dining and entertaining on the American Express Cobalt Card (up to 5 points per $1 spent, compared to the maximum of 2 points per $1 spent on Amex Gold Rewards).
Finally, if you typically carry a balance, you may want to consider a different card, like the Amex Cobalt or Scotiabank Gold American Express, which operates as a credit card and not a charge card.
Bottom line
The American Express Gold Rewards Card stands out for its points redemption flexibility, transfer partners and competitive fixed-redemption charts. American Express is known to give customers access to a wide array of travel perks and entertainment offers. Plus, with the robust insurance package and generous welcome offer, frequent travellers and everyday spenders alike will find ways to maximize the $250 annual fee.
If you are more focused on everyday spending, however, the American Express Cobalt may prove to be more lucrative through enhanced earn rates, though travel redemptions may be slightly more restrictive than the American Express Gold Rewards card.
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