Amex Gold Card refresh: Increased annual fee, new statement credits — and a stylish white gold option

25.07.2024 - 13:13 / thepointsguy.com

One of the most popular cards among TPG staffers and readers alike is the American Express® Gold Card.

The last time this card underwent a '"refresh" — meaning a change to its annual fee and benefits — was back in 2018. As we reported at the start of the year, we expected this card to be one of the 40 or so products that Amex would refresh in 2024.

Well, we were right. The Amex Gold is the latest card to have its annual fee hiked and its benefits structure changed.

But don't despair — the changes aren't as negative as we'd imagined they might be. Read on for a breakdown of the Amex Gold refresh and our analysis of the changes.

First of all, the Amex Gold annual fee has increased from $250 to $325 (see rates and fees), representing a 30% hike.

This higher annual fee is in effect immediately for new cardmembers (who can take advantage of a limited-time welcome offer outlined below). Existing cardmembers will see the increased fee for card renewals from Oct. 1, 2024.

I am surprised that the annual fee was only raised by $75; I thought it would be raised to at least $375 to match the American Express® Business Gold Card (see rates and fees).

If you are unhappy with the higher annual fee when it hits your account, I recommend contacting Amex by online chat or phone and asking for a retention offer or downgrading the card to the American Express® Green Card.

TPG credit cards writer Oliva Mittak says, "I intend to keep the card for now, but next year I'll consider downgrading to the Amex Green if I don't get enough value from the Gold to justify its annual fee."

The information for the American Express Green Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

The Amex Gold has long been heralded by avid points and miles collectors for its high earning rates, especially for those who spend a lot on dining out and groceries. And the good news is that the card's earning rates have not changed.

The only change is a new cap on how much you can spend annually on restaurants before your earnings drop:

The rest of the earning structure is staying the same:

These changes should not affect most cardmembers. With the new $50,000 dining cap, cardmembers can spend an average of $4,117 monthly on dining before the 4 points per dollar drops to just 1 point per dollar.

Even as an avid foodie and person who never cooks, I would have incredible difficulty reaching this monthly spending cap on dining. Indeed, most cardmembers might agree with this sentiment, with U.S. Census Data showing the average person spends $222 per month dining out. Therefore, I highly doubt this cap on restaurant spending will affect very many cardmembers.

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