American Express® Preferred Rewards Gold Card

• Get 10,000 Membership Rewards points redeemable for Rewards right away - equivalent to a $100 Gift Card*
• Gold Card Events
• Global Assist® Plus Hotline*
• First Year is Fee-Free*

Just The Facts -

Issuer :  American Express

APR : Variable and dependent on your credit rating.

APR On Purchases :  Not disclosed by American Express. Variable and dependent on your credit rating.

APR On Cash Advances :  Variable and dependent on your credit rating.

Annual Fee : First year is free and then there is an annual charge of $125.00.

Credit Line Possible : American Express Preferred Rewards Gold Card has no pre-set spending limit; however, purchases are approved based on credit record, account history, and personal resources.

Insurance included :  This card comes with the usual American express travel insurance, rental insurance, a purchase protection plan, extended warranty, return protection, identity theft protection and up to $100,000 in travel accident insurance.

Financing Configuration : Interest is calculated on your average daily balance (including purchases made on the day of purchase).

Grace Period : You have thirty days after making a purchase during which you do not have to pay interest.The Best Thing About It : American Express Preferred Rewards Gold Card has a superior and very flexible rewards program. Through the rewards program, cardholders earn one point per dollar spent on all purchases. Points can be redeemed for travel rewards on over 21 airlines and for many other rewards. It is also a good card for those who travel

The Worst Thing About It - This card does not allow balance transfers!

Credit Rating Needed For Acceptance :  Excellent credit only.

Who Is It For?

The American Express® Preferred Rewards Gold Card is an ideal card for those who can afford to pay in full each month to avoid accumulating credit card debt and for individuals who like to have exclusive access to cultural and sporting events. It is also great for those who like to travel a lot.

The Benefits

You get a 10,000 Membership points once you are accepted. This is like getting a $100 gift card just for joining. Redeem points for rewards from over 50 of the finest names in shopping and entertainment, including Banana Republic, Saks Fifth Avenue, DellTM Computer, Callaway® Golf, and The Sharper Image®

Your American Express Preferred Rewards Gold Card points never expire.  Your points have no cap and they are good to use until you are ready to go.

You have access to Gold Card Events.  You have exclusive access to tickets for select concerts, shows, sporting events, and more (often in advance of public sales.)

You can transfer your American Express Gold Card points to many different frequent flier programs. Transfer points into 11 frequent flyer programs-1 point for 1 airline mile with most programs

Track all of your American Express Preferred Rewards Gold Card expenses on one statement.  Online access to this statement to your account is also provided so you can stay on budget.

You manage your account online. This card comes with an online account that provides the convenience of paying your credit card bill online.

You can print out a Year End Summary for Tax Purposes. The card comes with Year End Summary of Charges that gives you access to important information 24 hours a day, seven days a week.  You can sort by date, merchant name, or charge amount and review charges made within a category, such as Travel and Restaurant. Your Year End Summary can be printed out from your computer or you can order paper Year End Summary in the mail by calling the number on the back of your American Express Preferred Rewards Gold Card.

Monitor your expenses.  You are also able to monitor what goes on in your account with full access to an online account report.

You have a Return Protection Plan. If you try to return a designated item within 90 days from the date of purchase and the merchant won't take it back, American Express will refund the full purchase price, up to $300 per item.

You have extra protection from theft or loss of your American Express Preferred Rewards Gold Card while traveling.  American Express provides quick emergency cash and emergency card replacement should your card be stolen.

You have a great deal of travel insurance. This card offers $100,000 in travel insurance.

The American Express Preferred Rewards Gold Card comes with a Global Assist Hotline. Whenever you travel more than 100 miles from home, you have security and peace of mind 24/7 with medical, legal, financial or other emergency assistance, including medical and legal referrals, visa/passport help, cash access, lost luggage and more.

The card offers a Baggage Assurance Plan. This plan covers up to up to $1,250 for carry-on baggage and $500 for checked baggage in the event it is lost or stolen.

The Gold Card With Preferred Rewards offers emergency check-in. Emergency Check-In enables a Card member to check into a hotel and charge his/her stay with the Card, even if the Card has been lost or stolen.

You will also benefit from the Assured Reservations plan.  You can guarantee all your hotel and motel reservations with the American Express Preferred Rewards Gold Card account. Your room will be waiting for you even if you arrive late. If you have an assured reservation and your room is not available, the hotel or motel will provide you with a comparable room that is nearby, along with transportation to your new location and a 3-minute phone call.

The Drawbacks

The annual fee is high. This fee skyrockets to $125 after one year of being fee free.

Duplicate cards for family are not free. Complimentary cards cost $35 each.

Monthly payments are applied to purchases first.  The amounts that you pay monthly are not applied to the highest interest garnering activities such as taking out a cash advance.  This can make it longer to pay off your debt.

The Return Coverage is limited. Coverage is limited to $300 per item, excluding shipping and handling, and up to a maximum of $1,000 annually per Card Account and is subject to additional Terms, Conditions and Exclusions.

Fees To Watch Out For

Late payment fee :  $0 to the greatest of $30 or 2.9%

Over the Limit Fee : $30

Duplicate card fee :  $35