I’ve been writing about credit cards for the past few years, and when I was looking for a new travel rewards card for my girlfriend and I, the American Express® Gold Card had everything we were looking for.
Not only does this card offer valuable rewards, generous earning rates, and bonus categories that align with your everyday spending, but the monthly statement credits and other features also give you a great excuse to plan a lavish night out or a cozy night out.
Although this card has a relatively high annual fee and isn’t exactly suitable for international travel, its combination of enhanced perks, benefits, and free authorized users makes it a great card for couples who want to pamper each other and share experiences like dining, traveling, and home-cooked meals.
Here’s what we like about it:
Why American Express Gold is perfect for couples
Many people may be hesitant to share financial information with their partners, but in my experience, adding my girlfriend as an authorized user on my Gold Card created shared spending habits, quickly built up a points balance, and even boosted both of our credit scores.
American Express also has one of the highest-value credit card reward currencies, Membership Rewards, and the Amex Gold makes it quick and easy to build up a points balance. Couples who spend a lot of money eating out, takeout, traveling, and at U.S. supermarkets can get the most out of this card by aligning it with their regular spending habits.
Earn extra points when you shop at restaurants and supermarkets in the US
Food is a mainstay in nearly everyone’s budget, and as food prices rise, it’s becoming a bigger part of spending. Credit cards that offer high rewards rates at U.S. supermarkets, restaurants, or both could be worth adding to your credit card rewards strategy if the value of those points can offset even a small portion of your spending.
The Amex Gold’s 4x points at restaurants worldwide (on purchases up to $50,000 per calendar year, then 1x thereafter) is no small feat, especially when more than one person is billed. According to the U.S. Bureau of Labor Statistics’ 2022 Consumer Expenditures Report, the average consumer spends about $3,700 per year on food purchased outside the home, which represents 40% of the average annual food spend.
Spending $300 or more per month at restaurants may seem like a lot, but if you’re a couple splitting expenses, the figure is even higher. Everyone has a different budget, and your restaurant budget may not be that high, but let’s say you and your partner spend $600 per month at eligible restaurants. With Amex Gold, you’ll earn 2,400 American Express Membership Rewards points each month.
Including spending at US supermarkets from the same report adds $950 to monthly spending, and Gold cardholders earn 4x points on spending at US supermarkets up to $25,000 per year, and 1x above that, earning an additional 3,800 Amex Membership Rewards points each month.
As a result, a couple who maxes out their Amex Gold in these two categories could earn more than 74,000 Amex points per year on this spending amount, which at an exchange rate of .06 cents per point would be worth at least $446.40 when redeemed for eligible statement credits. That’s more than enough to offset the card’s $325 annual fee. However, Amex Membership Rewards points are worth much more with the right travel exchanges.
Save money for travel with reward points
American Express’s Membership Rewards are one of the most valuable credit card rewards currencies because they offer flexible travel exchanges that give users many high-value transfer options. Cardholders can transfer their points to partner airlines and hotels, making travel planning easier without sacrificing value in exchange for flexibility. Strategic travel transfers can also significantly increase the value of your Membership Rewards.
According to Bankrate’s points and miles valuation, Membership Rewards is currently estimated to be worth about 2.0 cents per point if you transfer to a high-value partner, potentially double the value of the baseline.
For example, my girlfriend and I are planning a trip to Ireland this August using Membership Rewards points that we transferred to Aer Lingus Avios. Here’s the breakdown of the cost:
- The flight for two from John F. Kennedy International Airport to Dublin Airport, which would normally cost $1,250, cost 80,000 Avios (plus taxes and fees).
- For this cost, Aer Lingus Avios were worth about 1.5 cents each, which we both thought was fair value.
- As long as you can earn $1,625 in value every five years, you’re justified in keeping the card — and at the rate you’re accumulating Amex Membership Rewards points, you’ll probably achieve this feat every two years.
Considering that about a third of Americans surveyed plan to go into debt for travel in the summer of 2024, using credit card points to pay for travel expenses is a great way to reduce debt and prevent overspending. You’ll still have to pay for hotels and meals while traveling, but depending on how long you’re staying, you could cut your travel expenses in half by flying without spending a penny.
Generous monthly statement credits
Amex Gold gives you up to $324 in statement credits each month at select restaurants and takeout services to help you plan your next date night, $10 in Uber Cash each month (if you link your card to your Uber account), up to $10 in statement credits each month on eligible purchases at select restaurants, and up to $7 in statement credits each month on eligible Dunkin’ purchases (registration required).
It may seem silly to plan a date night based on the statement credit your credit card gives you, but the Amex Gold monthly statement credit for Uber Eats and select dining options makes dining out or taking out that much more comfortable, and recent annual fee and rewards updates have added a monthly Dunkin’ Day to help you keep getting the most out of your card.
$120 Uber Cash in Gold
You’d think that the $10 monthly credit for Uber and Uber Eats with Amex Gold would motivate us to use these services more often, but in our experience, it actually had the opposite effect: While the credit gave us an excuse to use Uber Eats that we probably wouldn’t have done otherwise, using the service without the credit became almost forbidden and unspeakable, and helped us maintain the discipline to plan our purchases wisely.
We use an Uber credit for one Uber Eats order each month, then sit back and relax until the credit is automatically added to our Uber account the following month. Uber Eats fees can add up quickly, but we both feel like it’s not worth the cost without the credit. It’s not a huge amount, but $10 helps offset the service charge, delivery fee, tip, and a portion of the order. This is especially useful since one of us is vegan and we often order from elsewhere (when plant-based options aren’t available).
$120 Dining Credit
Amex Gold dining credits can be a little tricky to make the most of, since they can only be used at certain restaurants and retailers. However, since Grubhub is on the list, I generally use dining credits the same way I would use Uber Eats credits. If you want, you can even use dining credits and Uber credits on the same outing. Your monthly Uber credits apply to rides, so you can use them for a lavish night out at a restaurant that’s eligible for dining credits.
$84 Dunkin’ Donuts Credit
This is the card’s newest perk and a nice addition to the card, despite the annual fee increase. Previously, you could only get up to $240 in annual statement credits, which wasn’t enough to offset the card’s previous $250 annual fee. Now that the annual fee has increased to $325, this $84 statement credit is actually $1 short to offset the annual fee with the card’s statement credit.
A $7 credit each month could offset the cost of two cups of coffee at Dunkin’ Donuts. Even if you’re not a frequent visitor to Dunkin’ Donuts, if there’s one in your area, it’s a good idea to use your Amex Gold to enjoy a different cup of coffee from your usual place once a month.
Free Authorized Users
A recent Bankrate survey found that just over 40% of U.S. adults who are married or living with their partner keep financial secrets. While survey results suggest this is due to a desire for privacy rather than a lack of trust, sharing credit card accounts and combining spending on key categories like groceries, dining out, and travel can help build financial trust with your partner.
If you trust your partner enough, you can add them as an authorized user on your Amex Gold account at no extra cost. This perk benefits all couples and families, but it can be extremely useful for couples where one partner doesn’t qualify for the highest rewards card but still wants to get the most out of their spending.
Being an authorized user on a financially responsible person’s credit card account will have a positive impact on your credit history. Establishing a credit history and credit limit will help improve your score. As long as the primary cardholder makes payments in full and on time, your score will steadily improve.
If you’re serious about your partner and you both take money seriously, it might be worth adding an authorized user on a credit card like the Amex Gold card and consolidating your monthly spending. This only requires one of you to have an eligible credit score. It’s one of the best cards for everyday spending, and you can both benefit from responsibly building your credit scores and combining your spending power.
When American Express Gold isn’t suitable for couples
This card offers great benefits for everyday spending and is ideal for travelling food lovers, but like most credit cards, it isn’t for everyone.
The annual fee is worth it if you take full advantage of the perks and rewards, but if your travel preferences don’t require you to transfer points to partner airlines, it may be hard to get more value out of your points There are a few reasons why a card might not be right for you, but in the case of the Amex Gold, two stand out the most.
International acceptance is limited
If you plan on only having one credit card and traveling internationally, this card may not be a good choice due to American Express’s limited global acceptance. While no foreign transaction fees are great, this perk is useless if the merchant doesn’t accept Amex in the first place.
The Amex Gold is a great card for couples who want to build up their points balance with everyday spending, but once you arrive at your international destination, you may need to replace your Amex Gold with another credit card, whether or not you’ve made the most of your points transfer. Visa and Mastercard currently have the best acceptance rates in the world, so choosing a backup travel card or a flat-rate rewards card with no foreign transaction fees can help you avoid awkward moments at the register.
Annual Fee
The annual fee for this card is higher than that of many other travel cards, such as the Chase Sapphire Preferred® Card and the Capital One Venture Rewards Credit Card, which each have a $95 annual fee. These cards each have different rewards programs and perks, but are much more affordable and also include free authorized users.
If you and your partner don’t spend more than $8,125 a year on dining at restaurants and U.S. supermarkets, you may not accumulate enough points to offset the annual fee for the Amex Gold, which has a base redemption value of 1 cent per point.
Conclusion
Talking about money with your partner can be a big step in your relationship, but sharing a credit card account is a surefire precursor to paving the way for even bigger money talks down the road. The Amex Gold is a great option for couples because it allows you to share the burden of the hefty annual fee while combining your everyday spending power to build a big points balance that can be used to fund future travel.
However, if you and your partner don’t spend enough to offset the annual fee with points, this card might not be right for you. If you want an alternative, consider more affordable credit cards that offer free authorized users or credit cards with no annual fee.
