Amex Gold Fee Increase Analysis

The American Express Gold Card has long been the favorite piece of metal for food lovers and frequent travelers. However, recent changes to its pricing and benefits have caused a stir among cardholders. American Express raised the annual fee from $250 to $325 while adding a handful of new statement credits. If you are a foodie who loves to travel, you are probably wondering if this higher cost is actually justified.

Breaking Down the New Fee and Benefits

In July 2024, American Express announced a major refresh for the Gold Card. The most obvious change is the price tag. The annual fee jumped from $250 to $325. To offset this $75 increase, American Express introduced two entirely new statement credits aimed directly at people who eat out frequently.

The $100 Resy Credit Cardholders now receive up to $100 in statement credits annually for purchases made at U.S. restaurants booked through Resy. This is split into two $50 credits. You get $50 to use from January through June, and another $50 to use from July through December. You do not actually have to book the reservation through the Resy app to trigger the credit. You simply need to dine at a restaurant that is part of the Resy platform and pay with your Amex Gold Card.

The $84 Dunkin’ Credit You also get up to $84 a year to spend at Dunkin’. This is doled out as a $7 monthly statement credit. You must enroll your card in your American Express online account first. Once enrolled, spending at least $7 at a U.S. Dunkin’ location will automatically trigger a credit on your statement.

What Happened to the Old Benefits?

The good news is that the foundational benefits of the Amex Gold Card are still intact, though one has a minor tweak.

$120 Uber Cash You still receive $120 in Uber Cash annually. This is given as $10 per month and can be used for Uber rides or Uber Eats orders in the United States. You just need to add your Amex Gold Card as a payment method in your Uber app to receive the monthly deposit.

$120 Dining Credit The card continues to offer up to $120 in annual dining credits, split into $10 monthly increments. However, the eligible partners have shifted slightly. The credit currently applies to Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Milk Bar and Shake Shack were recently removed from this list.

Earning Rates: Still a Powerhouse for Foodies

Despite the fee increase, the earning structure of the Amex Gold Card remains one of the best on the market. If you spend a large portion of your budget on food, it is hard to beat these multipliers.

• 4x points at restaurants worldwide: This includes takeout and delivery.
• 4x points at U.S. supermarkets: This applies to your first $25,000 in grocery purchases per calendar year (then 1x).
• 3x points on flights: This applies to flights booked directly with airlines or through AmexTravel.com.
• 1x points on all other purchases.

American Express Membership Rewards points are highly valuable because you can transfer them directly to airline partners like Delta Air Lines, Air Canada Aeroplan, and British Airways. Frequent travelers often get 2 cents or more in value per point by booking international business class flights.

For example, if you spend $600 a month at U.S. supermarkets and $400 a month on dining, you will earn 48,000 Membership Rewards points in one year. Those points alone could be enough to book a round-trip domestic flight or a one-way ticket to Europe.

Doing the Math: Is the $325 Justified?

To decide if the card is worth keeping or getting, you have to look at your natural spending habits.

If you add up all the potential statement credits, you get a maximum value of $424 per year ($120 Uber + $120 Dining + $100 Resy + $84 Dunkin’). Because the annual fee is $325, a person who uses every single credit will come out $99 ahead before they even factor in the points they earn.

However, treating the card like a coupon book can be exhausting. The credits are strict use-it-or-lose-it monthly or semi-annual allowances. If you do not naturally order takeout through Uber Eats, grab coffee at Dunkin’, or eat at Resy-affiliated restaurants, you will find yourself spending money you otherwise would have saved just to trigger a credit.

You should keep or apply for the card if: You already order lunch on Grubhub a few times a month, you use Uber or Uber Eats, you live in a city with plenty of Resy restaurants, and you spend heavily on groceries. For this type of user, the $325 fee easily pays for itself.

You should skip the card if: You prefer a simple cash-back setup, you hate keeping track of monthly credits, or you rarely visit Dunkin’ and Resy restaurants. In this case, you might be better off with a lower-cost option like the Chase Sapphire Preferred, which has a $95 annual fee, or the Capital One SavorOne, which has no annual fee and earns 3% cash back on dining and groceries.

Frequently Asked Questions

When did the Amex Gold fee increase take effect?

The fee increased to $325 on July 25, 2024, for new applicants. For existing cardholders who opened their accounts before that date, the new fee takes effect on their next renewal date occurring on or after October 1, 2024.

What is the new White Gold card design?

Alongside the fee increase, American Express introduced a new White Gold color option. Cardholders can now choose between the classic Gold, Rose Gold, and White Gold metal card designs. You can request a design change within your online account dashboard.

Do I have to enroll in the new Amex Gold credits?

Yes. You must log into your American Express account and manually enroll in the Dunkin’, Resy, and Dining credits before your purchases will trigger the statement credits. The Uber Cash benefit requires linking your card directly inside the Uber app.