Rewards features:  

Like other rewards cards you’ve encountered, the American Express Preferred Rewards Gold card operates on a point based system. Every dollar you spend earns you one rewards point. American Express’ awards points can be redeemed for flights with over 21 airlines so you can be sure you’ll get a fair deal on tickets. Rewards points are good for more than just airfare too—points can be cashed in for cruises, spa retreats and hotel rooms.

Potential members with less interest in vacationing far from home will be happy to learn that rewards points can be redeemed concerts and sporting events.

As an added incentive, applicants new to American Express get double points on up to $1000 per month of grocery and gas purchases for twelve months after enrollment in the Preferred Awards program.

APR:  

The American Express Preferred Rewards Gold card is unlike standard credit cards in that you cannot carry a balance from month to month. Instead, you have to pay the balance down every single month. This makes the American Express Preferred Rewards Gold card more of an alternative to cash than a traditional credit card.

Fees/charges:  

Even though there are no interest rates to worry about with the American Express Preferred Rewards Gold card, you’ll have to pay an annual fee of $125. The annual fee is waived for the first year of membership.

In the event that you fail to pay, or make a late payment on your American Express card’s balance, they will assess a $35 fee or take 3% of the balance, depending on which sum is greater.

Key features:  

Rather than a standard credit card, the American Express Preferred Rewards Gold card is almost a traveler’s all-in-one plan ‘B.’ Lost and damaged luggage are automatically covered by American Express’ included insurance. Travel accidents and rental car damages are also covered under their insurance. American Express even helps out in mundane travel emergencies, providing emergency check-in at hotels and securing reservations in the event of missed or delayed flights.

Preferred Rewards Gold members can receive a $100 credit every year when you book vacations with the card.

Member support:  

American Express has staff on hand all day, every day to assist customers. Should you lose your card, American Express will replace your Preferred Rewards Gold card within twenty-four hours. Whenever The American Express Preferred Rewards Gold cardholders travel more than 100 miles from home, they have access to an assistance suite that can be a lifesaver. American Express’ Global assist Hotline helps travelers with medical, legal, visa, passport, cash and luggage issues twenty-four hours a day.

The American Express Preferred Rewards Gold card is by no means your run-of-the-mill credit card. It offers superior customer support and useful resources for travelers. The only reservations we have about the American Express Preferred Rewards Gold card concern its annual fee and the fact that you can’t carry a balance. But given the rewards potential with the American Express Preferred Rewards Gold card, we can comfortably recommend it to our readers.

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