American Express Gold Card vs. Premier Rewards Gold Card

I’ve carried the American Express Preferred Rewards Gold Card for years, which Amex recently renamed to just the American Express Gold Card. Recently, American Express 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:

At A Glance	Bonus Points	Annual Bonus Points	3x Points	2x Points	1x Points
Amex Premier Rewards Gold Card	15,000 when you spend $1,000 in 3 months	15,000 when you spend $30,000 per calendar year	3X points on airfare	2X points on gasoline	1x on everything else
Amex Preferred Rewards Gold Card	10,000 when you spend $500 in 3 months	N/A	N/A	N/A	1x on everything else

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
	Membership Rewards(R) bonus: 15K points, redeemable for select gift cards valued at $150, when you spend $1,000 in your first three months of card membership Membership Rewards(R) points multiply fast! Earn 3X points on airfare, 2X points on gas and groceries, 1X points on everything else Exclusive access to Gold Card Destinations and events – Enjoy special travel packages and amenities at hotels worldwide, as well as select concerts, shows, major sporting events, and more, nationwide No annual fee for your first year – a $175 savings Get approved in 60-seconds.
Intro APR Intro APR Period Regular APR Annual Fee Balance Transfer Credit Needed N/A N/A N/A See Terms* No Excellent

American Express(R) Gold Card
	Earn 10K Membership Rewards(R) points, redeemable for select gift cards valued at $100, when you spend $500 in your first 3 months of Card membership Exclusive access to Gold Card Events – select concerts, shows, major sporting events, and more. Purchase Protection covers loss, theft, and damage of eligible items within 90 days of purchase Redeem Membership Rewards(R) points for an exclusive array of travel, shopping, dining and entertainment rewards. Get approved 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