Big changes to the American Express Gold Card: New benefits and a higher annual fee

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

The American Express® Gold Card is one of the top rewards cards for dining and grocery purchases. And now, it's getting a facelift with new benefits, updates to existing perks and a higher annual fee. It is also offering a sleek limited-edition white gold design option, along with an elevated welcome bonus.

If you have the card or are considering getting it, CNBC Select has the details to help you decide if the Amex Gold Card is worth it.

The American Express Gold Card's annual fee has increased from $250 to $325 (see rates and fees) for new cardholders. For existing Gold cardholders, the new fee takes effect with renewal dates on or after Oct. 1, 2024.

While nobody wants a price increase, American Express is introducing new benefits to help cardholders justify the fee.

The increased annual fee is offset by two new statement credit offers. Eligible purchases will earn:

• Up to $84 in Dunkin' credit each year (up to $7 back per month; Enrollment required).
• Up to $100 in Resy credit each year (up to $50 semi-annually) for in-person dining at U.S. Resy restaurants and other eligible Resy purchases (Enrollment required).

These two benefits are worth up to $184 each year, so if you're able to maximize them, they will more than make up for the $75 annual fee increase.

If you live near a Dunkin', that's as simple as changing where you get your coffee every morning. And even if you don't, you can easily use the Resy credit by spending at one of the thousands of restaurants across the country listed on the platform (you don't actually have to make a reservation on Resy).

With this overhaul, you can choose from a gold, rose gold or white gold card design. The white gold option is a limited edition and will only be available while supplies last.

Existing cardholders can request the new white gold option by logging into their American Express account, going to the "replace a card" page under "account services" and selecting the "I want to change my Card's design" option.

To complement these changes, the American Express Gold Card is offering a limited-time welcome offer of 60,000 points after spending $6,000 on purchases with your card in the first six months of card membership plus 20% back at restaurants worldwide for the first six months of card membership (up to $100 back).

The best way to maximize Amex Membership Rewards points is to transfer them to one of Amex's partner travel programs. For example, you could transfer points to Avianca LifeMiles to book domestic economy flights from 6,500 miles one-way or business class flights to Europe from 60,000 miles each way.

One of the biggest benefits of the Amex Gold Card is the ability to earn 4X Membership Rewards points for purchases at restaurants worldwide. Starting Jan. 1, 2025, this 4X bonus category will be capped and only apply to the first $50,000 in eligible purchases each year (then 1X). While this is a negative change, it will only affect the heaviest of spenders.

The card is also keeping the up to $120 in annual dining credits (up to $10 in credit per month; enrollment required), but the list of eligible restaurants is changing. Five Guys has been added to the list and, as of Sept. 26, 2024, Shake Shack and Milk Bar are no longer eligible. The credit will continue to apply at Grubhub, The Cheesecake Factory, Goldbelly and Wine.com.

The Amex Gold continues to be a points-earning powerhouse. In addition to the 4X Membership Rewards points at worldwide restaurants (on the first $50,000, then 1X starting on Jan. 1, 2025), you'll earn:

• 4X points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X)
• 3X points on flights booked directly with airlines or on Amextravel.com
• 2X points on prepaid hotels and other eligible travel booked through booked through Amextravel.com
• 1X points on all other purchases
• Terms apply

You can also receive up to $120 in Uber Cash each year (up to $10 per month and you must have downloaded the latest version of the Uber App and your eligible American Express Gold Card must be a method of payment in your Uber account. The Amex Benefit may only be used in the United States).

The card will also continue to offer special perks when booking stays two nights or longer with The Hotel Collection, including a $100 experience credit, room upgrades, early check-in and late check-out (when available).

You'll also continue to have access to a range of travel and purchase coverages, including:

• Trip delay insurance**
• Baggage insurance*
• Car rental loss and damage insurance***
• Extended warranty*
• Purchase protection*

*Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

**Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/ benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

***Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

The new American Express Gold Card offers a lot of value outside of its generous bonus spending categories, but it's scattered across a selection of monthly and semi-annual benefits.

If you prefer a rewards credit card with a lower cost, you may appreciate the Capital One Venture Rewards Credit Card. It has a reasonable $95 annual fee and earns at least 2X miles on every purchase. Similar to Amex Membership Rewards points, you can transfer Capital One miles to a long list of hotel and airline loyalty programs, including Emirates Skywards, Wyndham Rewards, Avianca LifeMiles, Air Canada Aeroplan and more.

If you want premium perks and benefits that are easier to use, consider the Chase Sapphire Reserve®. The Sapphire Reserve has a $550 annual fee, but that's partially offset by an up to $300 annual travel credit. The credit automatically applies to a massive list of eligible purchases so you don't need to shop with specific companies to earn it. It also comes with airport lounge access and earns Chase Ultimate Rewards® points, which are valuable transferable travel rewards.

The American Express Gold Card's annual fee is now $325 (see rates and fees), which is a $75 increase. This increased cost is offset by a new Dunkin' credit worth up to $84 per year (up to $7 per month) and up to $100 in Resy credit each year ($50 semi-annually). The card continues to offer perks like a monthly dining credit and Uber Cash credit.

Overall, the pros of the Amex Gold card refresh outweigh the cons if you can fully utilize the card's many benefits. You can now get over $400 in value with the Gold Card annually on eligible dining and travel purchases, making the card worth it for many consumers. Just remember that there are now credits that renew monthly and semi-annually and they do not roll over if unused.

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For rates and fees of the American Express Gold Card®, click here.