AmEx Gold Card Unboxing + Review -- Worth $250?

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★ How to Use AmEx Gold $120 Dining Credit?

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The American Express Gold Card earns membership reward points at:
4x on Restaurants
4x on US Supermarkets
3x on Flights booked on Airline websites and through Amex Portal
1x on everything else
Plus you receive:
$100 airline fee credit
$120 dining credit (good for use at Grub Hub, Seamless, the Cheesecake Factory, Ruth's Chris Steak House, Boxed, Shake Shack)

The annual fee is $250.

How you redeem membership reward points is very important!

You can redeem:
at a rate of .005 to .01 with gift cards
at a rate of .006 for statement credits
at a rate of .01 through their portal for flights and hotels
at a rate of .0125 with the Charles Schwab Platinum Card
at a rate of .01 to .02+ with transfer partners

I go through the math in the video, but I conclude unless you are a credit card nerd like myself, 99% of people are better off getting no annual fee cash back credit cards like the Wells Fargo Propel American Express Card and the American Express Blue Cash Everyday card to get 3% cash back on spending for all of the AmEx Gold's categories.

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DISCLAIMER:
This video is for entertainment purposes only. I am not in any way acting as an agent or representative of the Department of Defense or United States Federal Government when presenting this information. I am not a legal or financial expert or have any authority to give legal or financial advice. While all the information in this video is believed to be accurate at the time of its recording, realize this channel and its author makes no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in this video.

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[abea.]

Unbiased opinion can only come from the man who pays $0 in annual fees and doesn’t make a living from referral links. Keep going, Jake! You’re the man.

[fsruiz]

I don’t normally comment, but looking at the opportunity cost was something that isn’t mentioned by the other YouTubers. Thank you for the refreshing insight and I’ll definitely watch future videos :)

[mikescents]

No one else breaks it down like this guy I love it! Hope you get more attention man!

[mineOST]

Great points. Finally someone who focuses on forced spending. I think the Amex is Gold only for the convenience of using one card in multiple big categories and for people who simply want to hold a premium feeling card.

[rexnicious]

By far the best, and most honest, review of this card on the interwebs.

[gwvaio]

It blows my mind you can’t use the airline fee credit to actually purchase airline tickets.

[JohnPavlish]

Thank you Jake! So many people need to hear this point of how credits are hard to use. I am lucky that there are a few places I could use, but a meal costs more than $10, so I end up spending more. Unless I got an appetizer for a meal lol.

[genie]

Thank you so much for breaking down the gold card the way you did! Watching other YouTubers almost convinced me to get it, but something wasn't sitting right, and I think you spelled it out perfectly. Appreciate ya, Jake!

[legolas]

I'm a great fan of AMEX Gold but I did enjoy hearing a different perspective. Few things to the pros list for the Gold, 1) Opportunities to redeem offers a few times during the course of the year that would save on the Membership fee. 2) Superior Customer Service. Again, it all depends on the type of spender/user of the Gold which works out great for me. But I agree with your point that it does force you to spend on certain categories that you do not normally spend to redeem the yearly fee. Great video!

[PatriciaGarcia-gjtp]

I was about to get the Amex Gold, until i watched your video, and I am so glad that I did. I already knew that it would be better worth it for me to just get a no annual fee card for restaurants because the $250/year defeats the purpose for a normal person. Thank you!

[ogkgb]

Nice breakdown! I'm letting my Gold Card go for the Blue Cash without hesitation. Shoutout to the MKE flag!

[rainy_days]

I love this card. I spend about 1.5k to 2k a month dining out and about 1k a month on groceries. I put everything else on my platinum

[rohansoni]

Best, most comprehensive video I have seen on it. Thank you.

[fiercemillionaireproject]

Literally just got off the phone with Amex where I was approved for this card! Can’t wait to unbox this on my own

[jonb]

Hard to disagree with you. Overall I like the card. Have the Rose-Gold card, which is bit nicer and bit more bling to it. Use 4X for dining all the time. The airline fee "credit" which is really goofy. Never use their dining credit either. I need to reconsider if the card is worth it.

[TheTubeMeister]

Not sure if you’re in America or Canada but in Canada - American Express has the cobalt card. By far the best AMEX card! I have the cobalt card. Amazing points. Better than all their cards.

[BradleyBishop]

I agree with Jake.


I'll be dropping my Amex Gold next month. The problems:
- The $100 airline fee credit is close to worthless for me. I can't use it for gift cards. I get free bags based on status, anyway, and upgrading your seat doesn't trigger it. I think that I might be able to trigger it with drinks at the SkyClub or on board but I'm not getting hammered when I fly.
- The $120/yr food credit has been that thing that I have to remember to use each month. I actually have a reminder set for it. I use it for GrubHub and it's something I never used before and once I get rid of the Gold I'll probably use if very rarely. After the food, plus the delivery fee, plus the tip, etc. It takes $10 off which amounts to: You get to buy the food and pay a little for delivery. Of course, you could just go pick up the food but this is already kind of a hassle to use... It also seems dumb to give someone $10 back on a meal at a rather expensive place (Ruth's Chris or Cheesecake Factory).. It's like you just dropped a couple of bills on dinner somewhere and Amex says, "Here! Have $10.. Now go repeat this 11 more times this year!" If you're accustomed to eating at such places the $10 won't matter to you. If you're not, then you're probably not going to eat at them once a month, and then that takes you back to GrubHub.


The 4x back on dining and grocery stores is good. The airline fee reimbursement could work well for someone who only travels 2-3X/year. The $10 dining credit would really be geared toward the millennial types who order from GrubHub and then go pick it up. For that kind of person, though, it seems like the Amex MR points would be rather worthless. So it's kind of an odd fit to me.


The Amex Platinum has a similar problem for me. You get 5X back on airline spend. That's really good. You get lounge access in many airports based upon the various providers. If those things are important, though, you're probably flying enough to where the status matters more than the 5X back and you probably have lounge access through your status or another card. The Amex Platinum gets you Gold status at Marriott and Hilton but, again, if you're traveling enough for that to matter, you probably already have that or higher. My Platinum goes away after the Gold. I haven't used it in a year.


With the Platinum you have the same problem getting back the, now $200, airline fees plus you get $15/mo credit on Uber (and an extra $20 credit in December) which is nice but, again for me, it's very much a forced-spend sort of thing. I may take Uber once in a while but now I have to take it once a month to get that money back. Again, this sort of credit would make sense for a millennial but a millennial probably wouldn't burn through the $200 airline fee credits and wouldn't have much use for 5X back on airline spend. Again, the fee reimbursements seem like an odd fit.

[NaamWynn]

Excellent unboxing vid! I need to make some of these when I'm allowed to get more cards! Maybe on my next business card of something. I like the comparison of the other simple everyday cards. Most YouTubers don't mention these comparisons. Even for someone like me who has a bunch of cards, I only hold a few in my wallet that I do use often. I mainly chase the signup bonuses and then refer back to my other cards that are my daily users. Almost 2k bro! I'm pretty sure you'll hit it by the end of the year!

[jonesyisdabest]

This was made before Amex Gold added the $120 Uber credit. $10/month. A little better of a deal to have this card now. May 2023*

[BaKeiDurr]

If you can take advantage of the 4x category for supermarkets up to 25k. That's a 100k MR points per year. Great for restaurant owners and caterers.