American Express Gold Rewards Card Review 2024

• Earn up to 60,000 Membership Rewards® points:
• New American Express® Gold Rewards Cardmembers, earn 5,000 Membership Rewards® points for each monthly billing period in which you spend $1,000 in net purchases on your Card
• This could add up to 60,000 points in a year. That’s up to $600 towards your next vacation
• Earn 2 points for every $1 in Card purchases for eligible travel purchases, including flights, hotels, car rentals, cruises, and more
• Earn 2 points for every $1 in Card purchases at eligible gas stations, grocery stores and drugstores in Canada, and 1 point for every $1 in Card purchases everywhere else
• The Card is now available in your choice of Gold or Rose Gold metal options
• Receive a $50 CAD statement credit when a NEXUS application or renewal fee is charged to your American Express Gold Rewards Card
• You have access to an annual $100 CAD Travel Credit, compliments of your American Express Gold Rewards Card. Use the credit once annually towards any single travel booking of $100 or more charged to your Gold Rewards Card through American Express Travel Online
• As a Gold Rewards Cardmember, you can receive complimentary membership in Priority PassTM – one of the world’s largest independent airport lounge programs. Escape the chaos of airports and relax in an oasis of calm and simply enjoy the fact that the travel experience has begun before your plane has even left the ground. Enrollment is required and entry fees apply
• Enjoy four (4) complimentary visits per Calendar year to Plaza Premium Lounges across Canada. Entry fees apply once complimentary visits have been used
• Charge any eligible purchase to your credit Card then log in to redeem your earned points for a statement credit
• Transfer points 1:1 to several frequent flyer and other loyalty programs
• 1 Free Additional Gold Rewards Card (a $50 value) to help you earn points faster
• Subject to approval. The preferred rate for purchases is 21.99% and funds advances is 21.99%. If you have Missed Payments, the applicable rates for your account will be 25.99% and/or 28.99%. See the information box included with the application for the definition of Missed Payment and which rates apply to charges on your account and other details
• American Express is not responsible for maintaining of monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.

The American Express® Gold Rewards Card is a great entry card for those who are willing to pay an annual fee for travel benefits.

Although the annual fee of $250 may discourage some, the welcome bonus of 60,000 Membership Rewards points more than pays for the annual fee the first year and then some, since it’s a $600 value. Plus, the travel coverage could offer invaluable protection when you need it the most.

The beauty of the Membership Rewards program is that you can transfer points to other popular hotel and airline loyalty programs.  Most notably is the 1:1 transfer with Air Canada’s Aeroplan, British Airway’s Avios and 5:6 transfer for Mariott Bonvoy. These partnerships unlock the door to fantastic redemptions, and open up a world of upgrades and privileges.

Membership Rewards points are easily earned by charging common daily expenses. Cardholders earn 2 points per dollar on gas, groceries and drugstore purchases, and 1 point per dollar for all other purchases.

Ironically, though, it is not the card we would recommend while travelling outside of Canada, as the 2.5% foreign transaction fee makes a few other credit cards more attractive while travelling abroad.

• $250 annual fee
• Generous welcome bonus
• Flexible redemption for Membership Rewards points.

The best way to make the most of your American Express® Gold Rewards card is to use it when making purchases at stand-alone grocery stores, gas stations, drugstores and booking through their American Express Travel Online website. This earns you 2 points for every dollar spent on common everyday purchases, as well as major travel expenses.

You’ll enjoy the American Express® Gold Rewards Card’s best benefits when you use it for travel bookings. For example, you could convert your Membership Rewards points to popular airline or hotel loyalty programs for bookings or upgrades, or access premium airport lounges like those in the Priority Pass network. Another option is to enroll in the Hertz Gold Plus Rewards loyalty program for a one car-class upgrade on longer-term rentals.

The generous travel coverage means that you can be protected in case of many common travel emergencies including trip delay, baggage delay and accident insurance. Note however, that the travel medical insurance only covers those under age 65.

Earning Rewards

Accumulating Membership Rewards points is made easy through everyday purchases, such as groceries and gas, which earn 2 points per dollar. Other purchases yield 1 point per dollar, providing a straightforward way to build up your rewards balance as you charge routine expenses. The earning potential breaks down this way:

• Earn points
  • Everyday Purchases. Get 2 points per dollar on gas, groceries and on drug store purchases
  • Travel purchases. Get 2 points per dollar on eligible flights, hotels, car rentals, cruises and other travel expenses.
  • Everything else. Get 1 point per dollar on all other purchases.
  • American Express Travel Online. Get an additional point per dollar when you book hotels, flights and car rentals through the American Express Travel Online portal.

Redeeming Rewards

This is where the American Express Gold Reward card really shines. American Express gives you several ways to redeem your Membership Rewards points. When redeeming through the American Express Travel Online portal, users can use points, cash or a combination of both to book travel expenses including taxes, surcharges and fees. When redeeming for purchases other than travel, the Use Points for Purchases feature allows you to easily utilize your points for practical purposes by redeeming them for a statement credit on various eligible purchases made with your card. Also, transferring points is a great way to take advantage of other popular airline and hotel loyalty programs.

Here is how you can redeem Membership Rewards with this card more specifically:

• How to Redeem Rewards
  • Pay for Air Canada purchases with points. You can absolutely pay for your Air Canada purchases with points at Aircanada.com. All you need is a minimum of 10 Membership Rewards to start redeeming. You can then charge the rest of your purchase to your American Express Gold Rewards Card. Currently 1,000 Amex Membership Rewards equal $10 on Aircanada.com, but this rate could change at any time.
  • Use a fixed number of points to purchase eligible flights.  Unlike other travel programs like Air Miles or Aeroplan, American Express allows you to redeem for travel at a fixed price regardless of where you are going, the distance you are traveling and the time you are booking. Flights are just one price, like 40,000 points for a Canada/U.S. long-haul flight or 60,000 points for a Canada to Europe flight.
  • Book Travel Online with the Flexible Points Travel Program. Use your Membership Rewards at a rate of 1,000 points equalling $10 for any flight or eligible travel expense when you book through Amex Travel Online or Amex Travel Services. You can pay for the entire purchase with points or combine your purchase with your American Express Gold Rewards Card balance.
  • Transfer Points to Frequent Flyer Programs. You can transfer points to six frequent flyer programs and two hotel franchises at a ratio of 1:1.
• Shop With Points
  • Use Points for Purchases. With a minimum redemption of 1,000 points (equaling $10), you can login to the Amex app or American Express Online Services and use your Membership Rewards to pay for eligible purchases.
  • Merchandise. Log into your Amex Membership Rewards account and select a host of merchandise that you can purchase with points.
  • Gift Cards. In the rewards section of Americanexpress.com choose from a range of gift cards to buy with points.
  • Amazon Shop with Points. American Express Gold Rewards cardholders can pay with Membership Reward points in whole or in part when they are logged into their Amazon account.

Rewards Potential

This card has middling rewards potential for average spenders. Forbes Advisor Canada estimates that an average Canadian will earn $163.32 in rewards per year, with the annual fee factored in. That said, for those who prefer perks like lounge passes, travel insurance and the like—or even just tend to spend more than the average Canadian—the annual fee may be more worth it.

• Benefit from Priority Pass enrollment, granting cardholders access to a vast network of airport lounges worldwide.
• Enjoy the convenience of four complimentary Canadian Plaza Premium Lounge entries per calendar year, with access available thereafter for entry fees.
• Seamlessly convert your Membership Rewards Points to popular airline and hotel loyalty programs, such as Aeroplan, Avios, Skymiles, Hilton Honors and Marriott Bonvoy.

Travel Benefits

• $100 Annual Travel Credit. Log into your American Express account and go to the American Express Travel Online website. If your annual travel credit is available, it will show up as a payment option when you book. It must be used on a single booking and can’t be split.
• NEXUS Card Statement Credit. Here you get a reimbursement of the $50 NEXUS application fee every four years, so you can always bypass the line at the U.S.-Canada border for free.
• American Express Travel Online.  Book travel, including flights, through American Express’s online travel portal.
• The Hotel Collection from American Express. Book from American Express’s exclusive hotel collection and receive various perks where available, including late checkout, free Wi-Fi and more.
• Hertz Car Rental Benefits. Get complimentary Hertz Gold Plus Rewards membership, which includes a quick bypass of the rental counter, 10% off available retail rates, one class of car upgrade for rentals of five days or more and the fee waived for an additional driver

Insurance Coverage

• Out of province/country emergency Medical Insurance (For those under age 65). $5 million in coverage for emergencies in the first 15 consecutive days when traveling outside of your country or province of residence 
• Trip cancellation insurance. You can be reimbursed for travel expenses made before departure date should you cancel your trip for a covered reason up to $1,500 per insured person, per trip, up to a maximum of $3,000 for all insured persons combined.
• Trip interruption insurance. You can be reimbursed for travel expenses made before departure date should your trip be interrupted for a covered reason up to $1,500 per person per trip up to a combined cost of $6,000 fall insured persons.
• Car rental theft and damage insurance. Covered for loss damage or theft of your rental car up to an MSRP value of $85.000.
• Lost or stolen baggage insurance. $500 in combined coverage of lost or stolen baggage per trip.
• Hotel burglary insurance. Up to $500 in coverage for all stolen personal effects (excluding cash) if your hotel room is burglarized and you charged your whole hotel stay to your card.
• Flight delay insurance. Up to $500 in coverage (in aggregate maximum to baggage delay insurance) in the first 48 hours after your trip is delayed four hours or more. Coverage can be used for accommodation, restaurants or various sundry items.
• Baggage delay insurance. Up to $500 in coverage (in aggregate maximum to flight delay insurance) when you buy essential clothing, emergency items and sundry items purchased within four days of arrival at your destination if your checked-in baggage on your outbound trip is delayed for six or more hours.
• $500,000 travel accident insurance. You can be covered up to $500,000 of Accidental Death and Dismemberment Insurance when you fully charge common carrier (plane, train, ship or bus) tickets to your card.

Make the Most of Your Card

• American Express® Experiences. Get invited to exclusive events and happenings just for having the Amex Gold Rewards Card.
• Amex Offers. Special opportunities and discounts from Amex directly to your inbox when you have the card.
• Download the Amex App. Book travel, use your points for purchases and manage your American Express account with the Amex App.
• Refer a Friend. Log into your American Express account and get rewarded when you refer a friend and they are approved for an American Express card.
• Add an Additional Card. In most cases you can add an additional card to the account for free and for no, or a reduced, annual fee.
• Contactless Payment. Tap and pay everywhere it’s available.

Interest Rates

• Regular APR: 21.99%
• Penalty APR: 25.99%-28.99% variable

Fees

• Cash Advance: N/A
• Foreign Transaction Fee: 2.5%
• Annual Fee: $250
• Any other fees: NA

We like the American Express® Gold Rewards Card for striking the perfect balance between offering generous travel benefits without excessive costs. While other cards may have a lower annual fee, they also offer less flexibility and are best for those who frequently travel with the same airline or are not looking for travel benefits.

American Express® Gold Rewards Card Vs. Scotiabank Gold American Express Card

With an annual fee of $120 and no foreign transaction fee, the Scotiabank Gold American Express Card is tempting when comparing it with the American Express® Gold Rewards Card. The Scotiabank Gold American Express Card utilizes the Scene+ program to reward its users. Those who shop at Sobeys or Safeway will appreciate the 6 Scene+ points for every dollar spent.

While the Scotiabank Gold American Express Card also offers travel benefits, like travel coverage and airport lounge access, its primary rewards program is Scene+ which offers presale tickets to theatre productions, concerts and other special events.  It is therefore probably best for those who value entertainment benefits over travel benefits.

Unfortunately, the $5,000 maximum credit limit of the Scotiabank Gold American Express Card may not be high enough for some, even if it doesn’t charge a foreign transaction fee.

American Express® Gold Rewards Card Vs. TD Aeroplan Visa Infinite Card

The TD Aeroplan Visa Infinite Card is another rewards card designed with travellers in mind. A welcome bonus of up to 70,000 Aeroplan points will immediately capture the attention of those who regularly travel with Air Canada, especially since the annual fee is less than the American Express® Gold Rewards Card at $139.

In addition to the generous welcome bonus, the TD Aeroplan Visa Infinite Card also offers comprehensive travel coverage, including some for those over the age of 65.

If you travel Air Canada, you can expedite attaining Aeroplan Elite Status and enjoy complimentary first checked baggage for yourself and up to eight travelling companions. We also like that Aeroplan points do not expire and there is a dedicated Visa Infinite Concierge phone service.

Most common purchases, such as groceries and gas, earn 1.5 points per dollar but these cannot be converted to other airline and loyalty programs.

If Air Canada is your airline of choice, the TD Aeroplan Visa Infinite Card could be the tailored option that fits just right.

American Express® Gold Rewards Card Vs. American Express The Platinum Card

But wait, if gold is good, is platinum better? With a hefty $799 annual fee for American Express The Platinum card compared to $250 for the American Express® Gold Rewards Card, The Platinum card has to pack a punch in order to justify the cost.

For starters, The Platinum card entices with up to 100,000 Membership Rewards® points (70,000 Welcome Bonus points if you charge at least $10,000 in net purchases to the card within three months of membership and 30,000 points when you make a purchase between 14 and 18 months of card membership). There is also a $200 annual travel credit ($800 credit  through American Express Travel Online or Platinum® Card Travel Service) and a $200 annual dining credit to help offset the annual fee. This warm welcome, combined with upgraded travel perks, could make The Platinum worthwhile, especially if you can maximize the 2 points per dollar for eligible dining and food delivery in Canada.

Whether you should opt for the American Express® Gold Rewards Card or The Platinum card really comes down to a lifestyle question. If you are looking for a card to charge everyday expenses that will earn you solid travel protection and rewards without a high annual fee, then the American Express Gold Rewards Card could be just right. For frequent travellers who value upgraded perks and spend more on dining out than groceries, then the steep annual fee of The Platinum could turn out to be more worthwhile.

Learn more: Amex Gold Rewards vs. Platinum

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With this card, the scoring model used takes into account factors such as, but not limited to, rewards rates and categories, fees, welcome bonus, and other benefits and features. Keep in mind what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

The American Express Gold card earns its “Goldilocks” reputation by offering a blend of great travel benefits without being overly expensive. The Membership Rewards points are transferable, making this a great all-around card. If you are willing to pay a higher annual fee to amp up rewards, then The Platinum card could be the right fit. If you love travel rewards but mostly fly Air Canada, the TD Aeroplan Visa Infinite Card was created with you.

On the other hand, if travel rewards aren’t your highest priority and you appreciate what Scene+ points can do for you, the Scotiabank Gold American Express Card could be great—as long as you do not mind the $5,000 credit limit.

Related: Canada’s best credit cards