Amex Gold Credit Card has the same status symbol as that of HDFC Regalia Credit card. Above the benefits, the Amex Gold Credit card holder get a prestigious status.
Without wasting your time, let’s start Amex Gold Credit Card review to unfold the facts
Fee & Charges
- First Year Fee – Rs 1000
- Renewal Fee – Rs 4500
- Interest Rate – 42%
- Foreign Currency Markup – 3.5%
- Get 4000 reward points on using the card 3 times within the 60 days of card issuance.
- Get 5000 reward points on renewal of gold card
The first year you get 4000 reward points having redemption worth INR 1000 equal to your first year annual fee. In simple terms, for first-year Amex gold credit card costs you nothing.
Bonus Offer with Amex Gold Credit Card
Simply use your Amex Gold credit card 4 times in a month on the transaction of INR 1000 or more and get 1000 bonus reward points along with regular earning.
This way you can year up to 12,000 bonus reward points every year. That’s fascinating.
Reward Points & other offers
- Earn 1 reward point for every Rs 50 on all spends except fuel, insurance, utility bills and cash transaction.
- Enjoy up to 20% off every time you dine at select restaurant partners.
- Zero lost card liability or a maximum of Rs 1000 before reporting.
Fuel Offer with Amex Credit Card
Amex Gold Credit Card doesn’t provide any membership reward points on fuel, insurance, utility (water, electricity, and gas) payments.
But under a limited period time offer, you will get 3% cashback on fuel transaction at eligible fuel outlets. Check participation outlets list.
Offer valid till 30th June 2017 and you are allowed to get a maximum cashback up to Rs 4500 per card. In case offer extends, there will be on change in the cash back limit. (firstly offer was till 28th Feb 2017).
What to Do Redeem Reward Points
You don’t have to decide in a hurry because your Amex gold reward points never expire. That’s amazing, you can plan a foreign a trip by collecting for a longer period or can choose from other 500+ redemption options.
The redemption value of 1 reward point is = INR 0.25
Redemption of Reward Points
You can redeem your reward points from the stunning 18 carat and 24 carat gold collection. To avail this you have to collect 18000 reward points for 18 carat and 24000 reward points for 24 carat gold collection.
After collecting reward points, you can choose any redemption option which includes the statement credit option as well (Wow). You will have the following redemption options
How To Get 24000 or 18000 Reward Points
MakeMyTrip Exclusive Offer
Amex Gold Credit Card offers exclusive offers on MakeMyTrip. You have a great chance to save your money on flight or hotel booking through MakeMyTrip.
Here are the details (screenshot was taken from the bank’s website)
Drawback Of Amex Gold Credit Card
Amex gold credit card is not accepted at all shopping places. So, you need to carry another credit card for payment at some places.
Check Your Eligibility
- Applicant should be of more than 18 years old.
- Applicant should have a personal income of INR 6 lakh or more ( for both salaried and self-employed).
- Must have a good credit history.
- For self-employed, business has been trading for more than 12 months.
- Identity Card.
- Address proof.
- 1 passport size photograph.
- Salaried class- latest one-month salary slip.
- Self Employed Businessmen- Latest IT return with the computation of income.
- Self Employed Professionals – Latest IT return.
Comparison of Amex Credit Card
I make a comparison with another status symbol credit card (HDFC Regalia ) & the second most demanded Amex credit card that is American Express Platinum Travel Credit Card.
Should You Apply For Amex Gold Credit Card?
Amex gold credit card useful in the first year. You get the welcome reward point having the same value as the first year annual fee. Whatever you save above this become your actual saving.
But from the second year, this equation changed. You have to pay the annual fee of INR 4500. Look at the calculation for the second year.
On spending 3.48 lakh per annum, your saving will be only 1.22% (too low).
This card is beneficial only in its first year. If you want to get this card only for one year, then go for it, otherwise, search for another card.
Did Amex Gold Credit Card Review help you, Let me know in comments.