Is the American Express Gold Card Worth Its Annual Fee?

With lots of no-annual-fee credit cards out there, the $325 annual fee on a card like the American Express® Gold Card can be hard to justify. Plus, with the pandemic leaving so many travelers grounded, the card’s emphasis on travel rewards may be less appealing. So is the American Express® Gold Card worth the annual fee?

Well, there’s more to this card than just travel benefits. The American Express® Gold Card has an attractive 4 points per $1 dollar rewards earning structure for people who spend a lot of money at U.S. supermarkets and restaurants worldwide, in addition to some valuable dining statement credits each month. Terms apply (see rates and fees).

So even for users who aren’t traveling much these days, the benefits could prove worth more than the annual fee. Below is a quick overview of the benefits, followed by some points to consider when deciding whether the American Express® Gold Card is worth it for you.

Perks of the American Express® Gold Card

The American Express® Gold Card can be a great option during "normal times," offering the following welcome bonus: Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Terms Apply.

Cardholders earn 4 American Express Membership Rewards points per dollar spent on restaurants worldwide (up to $50,000 per calendar year) as well as on the first $25,000 spent at U.S. supermarkets annually. Plus, earn 3 points per dollar on flights booked directly with airlines and amextravel.com, 2 points per dollar on prepaid hotels booked through amextravel.com and 1 point per dollar on all other spending. Terms apply.

» Learn more: Six things to do when you get the American Express Gold Card

The American Express® Gold Card annual fee is worth it if you...

Spend a lot of money at restaurants and U.S. supermarkets

The 4 points per dollar you earn for spending on groceries at restaurants worldwide and U.S. supermarkets is much higher than many rewards cards. Keep in mind the 4x on U.S. supermarket spending applies to up to $25,000 per calendar year in purchases, then it reverts to 1x. The elevated earn rate cap on restaurants is $50,000. Others only offer 1 point per dollar on the same spend, so this card can provide a hefty boost for your points accrual. Terms apply.

Use the $10 monthly Uber Cash and $10 monthly credits for select dining services

The American Express® Gold Card comes with several hundred dollars in credits, including up to $120 annually in dining (up to $10 per month at specific delivery services including Grubhub, Goldbelly and a few restaurants).

American Express also added a new benefit to the American Express® Gold Card in 2021 that includes an additional $10 per month (up to $120 per year) in the form of Uber Cash, which can be used for either U.S. rides or Uber Eats orders. You have to add the card to your Uber account and pay with it (or another AmEx card) to collect the benefit. Terms apply.

You can likewise get an $84 annual credit for spending at U.S. Dunkin' locations and another $100 credit for spending at U.S. Resy restaurants.

If you make use of the full amount of all these credits, you'll pick up $424 worth of value, completely covering the annual fee.

Enrollment required. Terms apply.

Shop abroad

This card carries no foreign transaction fees. Foreign transaction fees on other cards can add up to 3% on every transaction made outside of the states — a hefty expense for frequent international travelers. Terms apply.

Can earn the welcome offer

Aim to hit the spending minimum without carrying over a balance or paying interest charges. You don't want to miss out on tens of thousands of points, especially on a card with a significant annual fee.

» Learn more: The best AmEx transfer partners — and ones to avoid

The American Express® Gold Card annual fee is not worth it if you...

• Prefer cash back. Redeeming AmEx Membership Rewards points for maximum value can be complicated since points vary in value based on how you redeem them. Trading points for flights or other rewards can be limiting if you’re someone who prefers the simplicity of cash back or statement credits.

• Cannot use the aforementioned dining and related credits.

The bottom line

The American Express® Gold Card is great for some, but a money-losing proposition for others. If you’re a regular traveler who spends a lot on dining and at U.S. supermarkets, you can easily get more value out of this card than you pay in annual fees.

To view rates and fees of the American Express® Gold Card, see this page.