Major Changes Announced for the American Express® Gold Card

American Express recently announced some major changes to the premium rewards credit card.

Those include an increased annual fee and a host of new cardholder benefits.

Let’s walk through what you need to know.

5 Changes to the American Express® Gold Card

American Express decided to make significant changes to its Gold Card in July 2024.

I’ve compiled the highlights you’ll want to know before you consider adding this card to your wallet:

1. The Annual Fee Has Increased

The American Express® Gold Card now has a $325 annual fee (see rates & fees).

This is a $75 increase from the previous $250 annual fee.

It's still well short of the $695 annual fee attached to The Platinum Card® from American Express (see rates & fees). But it does bring it closer to the annual fee of competitors like the Capital One Venture X Rewards Card ($395 annual fee) that is in money expert Clark Howard's wallet.

You’re probably wondering what you’ll be getting in exchange for this increase in annual fee. Keep reading to check out all of the new perks that will come along with it.

2. Rewards Multipliers Are Getting A Boost

The annual fee may be going up, but the upside is that the points you can earn with this card are also receiving a boost.

Here’s the new format:

This represents an increase in the yearly spending limit for the restaurant multiplier (from $25,000 to $50,000). And the 2x multiplier on prepaid hotels and eligible travel booked through Amex Travel is new.

3. The Card Has a New Welcome Bonus Offer

The welcome bonus offer, which can net you 60,000 Membership Rewards® Points if you meet the spending requirement, now has a boosted opportunity for restaurant spending:

4. New Credits Could Help Offset the Fee Increase

If you’re worried about the increase in annual fee, you may be happy to learn that you can offset things with some new credits:

$84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at Dunkin' locations.

$100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases (enrollment required).

These are in addition to credits that were already available to Gold Card members, such as the $120 Uber Cash and $120 dining credits.

5. There Is A Tweak to the Dining Credit

Speaking of the $120 annual Dining Credit associated with this card, there are some changes to the ways you can use this one.

You can still enroll and earn up to $10 in statement credits monthly when you pay with the Gold Card at participating partners.

But it’s the partners list that is changing: American Express announced that Five Guys has been added to the list of eligible restaurants. Conversely, Shake Shack and Milk Bar will be removed from the list of participants effective September 26, 2024. Terms apply.

That means the full list of eligible participants will be:

Do you like the changes to this card? Will you be applying? We'd love to hear your thoughts in the Clark.com community.

To see the rates and fees for the American Express cards featured, please visit the following links: American Express® Gold Card: See Rates and Fees, The Platinum Card® from American Express: See Rates and Fees.

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