American Express Gold Rewards Card: The Best Rewards Credit Card in Canada for 2024

The American Express Gold Rewards Card stands out as one of the best rewards credit cards in Canada, especially for those with a penchant for travel. Loaded with perks, rebates, and ways to earn points, this card is not just a plastic spending tool; it's a passport to rewards and exclusive experiences.

The American Express Gold Rewards Card review we'll delve into covers the benefits, application process, alternatives, and more.

American Express Gold Rewards Card – At a Glance

• Annual Fee: $250
• Additional Card: 1 free, $50 annually for each extra card
• Interest Rate: 20.99% on purchases, 21.99% on funds advances
• Rewards: 2x points on eligible travel, gas, drugstore, and grocery purchases in Canada; 1x points on other purchases
• Travel Credit: $100 annually for bookings through American Express Travel Online
• Card Material: 13g stainless steel available in gold or rose gold

American Express Gold Rewards Card Benefits

Earn and Redeem Membership Rewards Points

With this card, you earn:

• 2 Membership Rewards points for every $1 spent on eligible travel, gas, drugstore, and grocery purchases.
• 1 point for every $1 spent on all other purchases.
• An additional point for every $1 spent on hotels and car rentals through American Express Travel Online.

Redeeming these points is seamless:

• Statement Credits: Use points towards eligible purchases.
• Travel Bookings: 1,000 points equate to a $10 travel credit.
• Transfers: Points can be transferred 1:1 to frequent flyer and other loyalty programs.
• Fixed Points Travel Program: Use a fixed number of points for eligible flights.
• Merchandise and Gift Cards: Redeem points on Amazon.ca and other retailers.

Travel Benefits and Insurance

The American Express Gold Rewards Card offers a plethora of travel-related perks:

• Travel Credit: Annual $100 travel credit for bookings via American Express Travel Online.
• Priority Pass Membership: Access to over 1,200 airport lounges globally with complimentary Plaza Premium Lounge passes.
• Emergency Medical Insurance: Up to $5,000,000 for 15 days of abroad travel for those under 65.
• Trip Cancellation: Up to $3,000 per insured person for non-refundable travel arrangements.
• Flight Delay Insurance: Up to $500 for delays over 4 hours.
• Baggage Delay and Loss Insurance: Coverage up to $500 for delays over 6 hours or baggage loss.

Experiences and Shopping Coverage

Membership with American Express offers exclusive access to:

• Front Of The Line: Presale and reserved tickets for concerts, theatre, and pop-culture events.
• Special Events: Advance movie screenings, food festivals, curated events.
• Shopping Coverage:
  • Buyer’s Assurance Protection Plan: Extends the manufacturer's warranty up to one year on eligible items.
  • Purchase Protection Plan: Coverage for eligible items against accidental damage or theft for 90 days from purchase.

How To Apply for the American Express Gold Rewards Card

Applying is straightforward:

• Eligibility Criteria:
  • Must be of the majority age in your province or territory.
  • Be a Canadian resident with a Canadian credit file.
  • Requires a good credit score, generally above 700.

Pros and Cons of the American Express Gold Rewards Card

Here's a closer look at the benefits and downsides:

| Pros | Cons | |———-|———–| | Wide array of travel insurance coverage | High annual fee of $250 | | Excellent welcome bonus points | Higher interest rates | | Made of metal, offering durability and style | Limited AMEX acceptance | | Access to exclusive AMEX events and offers | Elevated penalty APR for missed payments |

Alternatives to the American Express Gold Rewards Card

American Express Cobalt Card

• Monthly Fee: $12.99
• Rewards: 5x points on food and drinks; 3x points on streaming; 2x points on travel; 1x points everywhere else.
• Insurance: Similar travel and purchase protections.

SimplyCash Preferred Card from American Express

• Annual Fee: $9.99/month or $119.88/year.
• Rewards: Unlimited 2% cashback on all purchases.
• Insurance: Comprehensive travel, rental, and purchase protection.

Scotiabank Passport Visa Infinite Card

• Annual Fee: $150 (waived the first year)
• Rewards: 2x Scene+ points on dining, entertainment, groceries; 1x points on other purchases.
• Insurance: Full suite of travel insurance benefits including flight delay and hotel burglary coverage.

Is the American Express Gold Rewards Credit Card For You?

If frequent travel and dining out are part of your routine, the American Express Gold Rewards Card is a stellar option. The generous points system allows for rapid accumulation and versatile redemption methods. The annual $100 travel credit and extensive travel insurance provide substantial added value.

In summary, the American Express Gold Rewards Card offers numerous benefits that cater to Canadian travelers and heavy spenders. While the annual fee might seem steep, the perks and points system often outweigh the monetary cost. Whether you're traveling for business or pleasure, this card equips you with outstanding features to make the most out of your expenditures. Apply today to start reaping these high-end benefits. As you explore the rich tapestry of what the American Express Gold Rewards Card has to offer, it's clear that this credit card is designed to enhance your lifestyle significantly. With travel and dining being central aspects, it's an excellent choice for Canadians aiming to extract maximum value from their spending habits. This card's seamless points accumulation and flexible redemption options allow users to translate everyday purchases into extraordinary experiences effortlessly. For those who prioritize quality and convenience, the Membership Rewards Points not only offer versatility but also elevate your travel and shopping experiences to the next level.

Additionally, the American Express Gold Rewards Card's robust insurance package enhances its appeal. Coverage for emergency medical situations, trip cancellations, flight delays, and lost baggage ensures peace of mind wherever your adventures take you. These protections cater to both occasional travelers and frequent flyers, making this card an essential companion for any journey. Imagine having the confidence to book trips without fearing potential disruptions or unforeseen expenses. AMEX ensures you're backed by comprehensive support, turning potential travel mishaps into manageable situations rather than stressful dilemmas. This facet alone underpins the value proposition that makes this card a leading contender in the best rewards credit cards in Canada category.

Beyond travel-specific benefits, the card surpasses others with its exclusive access to American Express events and offers. From pre-sale tickets to popular concerts and sporting events to VIP access at food festivals and curated experiences, holding this card means you're always at the forefront of entertainment and luxury. Furthermore, shopping protections like the Buyer’s Assurance Protection Plan and Purchase Protection Plan provide added security for your high-value purchases. This level of protection and exclusive access collectively crafts an enhanced customer experience, aligning perfectly with the high-end lifestyle that American Express embodies. For those interested in a card that goes beyond basic offerings, the American Express Gold Rewards Card is indeed a wise and rewarding choice.

For those looking to consider an alternative that provides a distinct set of features, there’s another credit card option that might catch your interest. This card offers unique benefits that cater to a different lifestyle and spending pattern. Curious to know more? Take the next step and discover how this alternative could better align with your financial goals and daily needs.