American Express offers two of the most prestigious travel credit cards on the market: the Amex Gold at $250/year and the Amex Platinum at $695/year. Both earn Membership Rewards points transferable to 20+ airline and hotel programs. But which one deserves your wallet? Let us compare them head-to-head.
Pros & Cons
✅ Amex Gold — Pros
- 4x Membership Rewards on dining worldwide and US supermarkets
- $120 dining credit + $120 Uber Cash = $240 in annual credits
- 3x on flights booked directly with airlines
- Effective annual fee of just $10 after credits
- 60,000-point welcome bonus (worth $1,200+ with airlines)
✅ Amex Platinum — Pros
- 5x on flights booked directly and via Amex Travel
- $200 airline fee credit + $200 hotel credit + $199 CLEAR credit = $599 in credits
- Centurion Lounge + Priority Pass + Delta Sky Club access
- Global Entry / TSA PreCheck fee reimbursement
- Fine Hotels & Resorts program with room upgrades and amenities
❌ Cons
- Amex Gold: No lounge access; high $250 fee if you do not use dining credits
- Amex Platinum: $695 fee requires heavy use of benefits to justify; credits are complex to use
- Both cards charge 2.7% foreign transaction fee on some purchases
Rates & Fees Comparison
| Feature | Amex Gold | Amex Platinum |
|---|---|---|
| Annual Fee | $250 | $695 |
| Annual Credits | $240 (dining + Uber) | $599+ in credits |
| Effective Annual Cost | ~$10 | ~$96 (with all credits) |
| Dining Earn Rate | 4x worldwide | 1x |
| Flight Earn Rate | 3x direct | 5x direct + Amex Travel |
| Lounge Access | None | Centurion + Priority Pass |
| Welcome Bonus | 60,000 pts after $6,000 spend | 80,000 pts after $8,000 spend |
| Regular APR | See pay-over-time terms | See pay-over-time terms |
Who Should Apply
Choose Amex Gold if you spend heavily on dining and groceries (4x rate is phenomenal) and want a card with a near-zero effective annual cost. Choose Amex Platinum if you are a frequent flyer who values lounge access, hotel upgrades, and premium travel insurance. Both require Excellent credit (720+ FICO).
How to Apply
- Visit americanexpress.com and navigate to the card of your choice.
- Use the pre-approval checker to see your odds without a hard pull.
- Complete the formal application with income and personal details.
- Amex typically decides instantly or within 3–5 business days.
Frequently Asked Questions
Can I hold both Amex Gold and Platinum?
Yes, many power users hold both — using Gold for dining/groceries (4x) and Platinum for flights (5x) and lounge access.
Are Amex Membership Rewards points worth more than cash?
When transferred to premium airline partners like ANA, Air Canada, or Singapore Airlines, Membership Rewards points can be worth 1.5–2.5 cents each — far more than 1 cent in cash back.