American Express Gold Card vs. Premier Rewards Gold Card

I’ve carried the American Express Preferred Rewards Gold Card for years. Recently, Amex launched a new version of its gold card called Premier Rewards. After studying the new card offer, I’ve switched my Preferred Rewards card over to the Premier Rewards version. The rewards offered with the new charge card are significantly better. We’ll look at how to convert from Preferred to Premier in a minute, but first let’s look at what these two cards have to offer.

Both the American Express Premier Rewards Gold Card and the American Express® Preferred Rewards Gold Card offer points rewards. There are three primary differences between the two cards, two of which favor Premier Rewards. First the negative–the annual fee for Premier is $175 versus $125 for Preferred Rewards. On the bright side, the fee is waived the first year for new accounts. The other two differences both favor Premier–initial bonus reward points and annual reward points earned. Here is a chart summarizing the differences:

Beyond the rewards, both cards are similar. Each card offers a no pre-set spending limit. This does not mean that you necessarily get unlimited spending, but instead your purchasing power gets adjusted with your use of the card. Your payment history, credit card record and other factors affect your purchasing power. All charges made on these Charge Cards are due and payable when you receive your billing statement.

Converting Your Preferred Rewards Card to a Premier Rewards Card

It was a snap to convert my card to Premier Rewards. I simply called Amex, and they approved the conversion in about a week. It is important to note, however, that if you convert an existing Preferred Rewards card, you do not receive the sign-up bonuses that the Premier Card offers. That means no bonus miles, and the annual fee is not waived the first year.

Of course, if the bonus features are important to you, you can always just apply for the card. As nice as the bonus points are, I decided to just convert my card because it was more convenient. Either way, the Premier Gold card from American Express clearly offers richer rewards.

Here is a summary of both cards:

American Express(R) Premier Rewards Gold Card
	3-2-1 Points: Earn Membership Rewards(R) points up to three times as fast: You can earn 3X points on airfare, 2X points on gas and groceries, and 1X points on everything else No annual fee for your first year, a savings of $175 Earn 15,000 Membership Rewards bonus points when you spend $1,000 in your first 3 months of Card membership Earn 15,000 Membership Rewards bonus points when you spend $30,000 per calendar year
Intro APR Intro APR Period Regular APR Annual Fee Balance Transfer Credit Needed N/A N/A N/A See Terms* No Good

American Express(R) Gold Card
	Earn 10,000 Membership Rewards(R) bonus points when you spend $500 in your first 3 months of Card membership – redeemable for select gift cards valued at $100! The Membership Rewards program – Turn your everyday purchases into Membership Rewards points, and then redeem them for an amazing collection of travel, shopping, dining and entertainment rewards. Gold Card Events – exclusive access to tickets for select concerts, shows, major sporting events, and more in cities nationwide. Express Approval. Get a decision in 60 seconds.
Intro APR Intro APR Period Regular APR Annual Fee Balance Transfer Credit Needed N/A N/A N/A $125 annual fee No Excellent

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