Credit Card Review: Preferred Rewards Gold Card

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Estimate Reward Earnings

Not all credit card reward programs are made equal, and the American Express® Preferred Rewards Gold Card has one of the best programs available. This credit card gives you access to great earning options, and flexibility in how your spend them. While its interest rate is somewhat high, this card has excellent benefits to offer to any credit card users who dont plan on carrying a balance.

As an American Express® Preferred Rewards Gold Card user, you will obtain access to the Membership Rewards program for no additional fee. This program allows you to earn one point for every dollar that you spend, no matter that you're spending it on, or where you're spending it. And you won't have to wait for months before you see any significant rewards. Just for making your first purchase on this card, you will receive 10,000 bonus points on your account, the basic equivalent of a $100 gift card.

These bonus points can be redeemed for various products and services at many different participating merchants and retailers. The American Express website offers a comprehensive list of their participating Membership Rewards partners, so you can select the merchants and retailers of your choosing. There is absolutely no limit on the number of points that you can earn while using this credit card, and you will never have to worry that your points will disappear before you can use them&these points will never expire.

While this card has a high annual fee of $125, and a fee of $25 for any additional cards, this fee will be waived for your first year of use. This fee will also be waived for up to five additional cards. In addition to its reward program, this card offers its users various other services and benefits. These include travel accident insurance, auto rental insurance, purchase protection services, various merchant discounts, and many, many others.

As if that isn't enough, as an American Express® Preferred Rewards Gold Card user you will gain access to Gold Card Events. This will allow you exclusive access to tickets for select concerts, shows, and sporting events, so you can stay ahead of the rush. For the experienced credit card user, who don't plan on carrying a balance, this card offers unparalleled rewards.

(Review Updated: March 11, 2008)

Estimate Reward Earnings

n/a Intro APR (* see notes for details)
n/a Regular Fixed APR for Purchases
n/a Regular Fixed APR for Cash Advances

see terms Grace Period

Finance Configuration: n/a

Additional Cardholders: $35**

Late Payment Fee: Varies from state to state, from zero to the greater of $35 or 2.99% of delinquent balance.

Over-The-Limit Fee: n/a

Cash Advance Fee: n/a

Balance Transfer Fee: n/a

Minimum Credit Limit: n/a

Maximum Credit Limit: n/a

Type of Reward: Point

Points per Dollar: 1.00

Additional Points: Redeem points for rewards from 20 airlines, hundreds of hotels worldwide, vacation packages, over 50 cruise itineraries, and spa retreats.Transfer points into 16 frequent flyer programs - 1 point for 1 airline mile with most programs.

Bonus Points First Purchase: 10,000 Points

Bonus Points Other: n/a

Point Details: ***Cardholders receive 10,000 bonus points after their first purchase, which is equivalent to a $100 gift card at participating merchants and retailers.

Expiration: None

Yearly Limit: None

Additional Features for Preferred Rewards Gold Card:

Various Internet account related services.
Access to Gold Card Events including exclusive tickets for select concerts, shows, major sporting events, and more in cities nationwide.
Discounts on products and services at participating merchants and retailers.
Return protection
Purchase protection.
Extended warranty for purchases.
Auto rental insurance.
Medical referral service.
Legal referral service.
Emergency cash replacement.
Lost luggage insurance.
Travel accident insurance.
Guaranteed hotel reservations.
Emergency card replacement.
Year-end financial statement.
Identity theft assistance.
Various travel and emergency assistance services.
See website for additional benefits.

Important Notes for Preferred Rewards Gold Card:

This card is a charge card and the bill is paid in full each month.
The card has no pre-set spending limit; however, purchases are approved based on credit record, account history, and personal resources.
See website for complete terms and conditions of card usage and application disclosure.

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Notes: The review on Preferred Rewards Gold Card was updated on March 11, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.