American Categorical Gold Cost card additionally popularly referred to as the Amex Gold Card globally is an entry stage Cost Card in India from American Categorical. It is likely one of the solely two “Cost” Playing cards issued within the nation in the meanwhile.
From no-preset credit score restrict to good-looking rewards and premium assist, right here’s the whole lot you might want to find out about this lovely Amex Gold Cost Card.
Overview
| Sort | Cost Card |
| Reward Price | 1% – 4% |
| Becoming a member of Price | 1,000 INR+GST |
| Greatest for | Taj Voucher Redemptions |
| USP | Dynamic Credit score restrict & Month-to-month Rewards |
American Categorical Gold Cost Card is a rewards card that offers good-looking reward fee, pretty much as good as ~4% and even past, if used proper.
For those who’re new to bank cards (holding at-least one non-Amex card) and searching for increased credit score restrict, chances are you’ll begin with Amex Gold cost card – extra on the credit score restrict intimately later.
Apply by means of the hyperlink on the web page & you’ll get further 2,000 Referral Bonus Membership Rewards® factors (spend INR 5,000 inside 90 days)
Charges
| Becoming a member of Price | 1,000 INR+GST |
| Welcome Profit | 4,000 MR Factors (1000 INR worth) |
| Renewal Price | 4,500 INR+GST |
| Renewal Profit | Nil |
| Renewal Price waiver | Nil |
The welcome profit not solely offset’s the becoming a member of price but additionally comes with bit extra worth in the event you redeem the factors for Amex Gold Assortment.
The renewal price certainly seems fairly excessive however to not fear, as you may get it waived off by calling Amex assist. Anticipate upto 100% waiver on renewal so long as your annual spends are over 2 Lakhs.
Design
The Amex Gold Cost Card has one of many iconic design I’ve ever come throughout. There are not any bank cards in India that will get seen pretty much as good as this, even the metallic playing cards doesn’t get the eye that this golden card will get.
It seems elegant and offers a wow really feel when somebody seems at it for the primary time. I’ve had many conversations round it for a few years with retailers again in time when Amex playing cards weren’t issued to the mass market.
Credit score Restrict
A very powerful distinction between different bank cards and Amex Gold Cost card is that it doesn’t include a preset credit score restrict and you’ll’t convert your purchases to EMI both, as full due needs to be paid upon stmt technology.
Whereas the cardboard doesn’t include a credit score restrict, it does have a “shadow restrict” which Amex calls it as “Credit score Assist” and it retains altering as per your spend sample.
Amex used to permit me to cost as excessive as Rs. 20 Lakhs on my Gold Cost Card again in time once I was utilizing the cardboard. This was attainable even with not-so excessive common spends.
Nevertheless, from what I’m listening to from different cardholders, they’re giving comparatively low credit score restrict on their Gold cost playing cards today and that they’re additionally proactively lowering the restrict if there isn’t any common utilization on the cardboard.
Having stated that, chances are you’ll anticipate it to permit lots increased cost than a typical bank card, so long as the spends are taking place often.
Rewards
| SPEND TYPE | REWARDS | REWARD RATE (CASH CREDIT) | REWARD RATE (MARRIOTT/TAJ VOUCHER) |
|---|---|---|---|
| Common Spends | 1 MR on each 50 INR spend | 0.50% | ~1% |
- Utilities, Gas spends are included as effectively
- Rewards don’t expire.
It’s good to see that Amex has determined to supply rewards on gasoline & utilities on this card not too long ago, so you’ll be able to make the most of this profit.
For those who plan to make use of this card for gasoline, do it solely at HPCL (0% gasoline surcharge), as different shops may cost significantly excessive gasoline surcharge on Amex Playing cards.
The reward factors earned on MRCC are ideally meant for Marriott transfers (or) Taj voucher redemptions by way of 24K Gold Assortment, as different choices should not engaging sufficient, until you already know what you’re doing.
Additionally word that the MR factors earned on Gold Cost Card will be pooled with different Amex playing cards (besides Plat journey), so you may get nearer to 24K or 18K Gold assortment redemptions quicker than earlier than.
Month-to-month Rewards
- Spend: 6*1000 INR = 6000 INR
- Get: 1000 MR Factors = ~500 INR
Month-to-month rewards is the USP of Gold playing cards (Gold Cost Card & MRCC) where-in clients are given 1000 MR factors on doing sure spends, which is 1000 INR * 6 occasions a month on Gold Cost card.
The Worth of 1000 MR factors is simply 250 INR in the event you redeem for money credit score however in the event you purpose for the gold assortment or redeem factors at Marriott properties that’s simply 500 INR worth, which implies you’re getting ~8% return on spend. (assuming 1MR=0.50 INR)
You could as effectively accumulate factors and hope to redeem for Taj vouchers underneath 24K Gold Karat Assortment which is able to additional improve the purpose worth from 0.50 INR to 0.58 INR.
Whereas it could all look so profitable, it calls for lot extra spends to maintain the cardboard free for subsequent 12 months. So if we assume 2L spends performed on the cardboard in a 12 months, the reward fee will drop however nonetheless we get a pleasant ~4% return on spend.
My Expertise
I used to be holding Amex Gold Cost Card for couple of years earlier than lastly transferring on to the Amex Platinum Cost Card. I’ve redeemed the factors largely on Marriott (Factors Switch) & on Gold Assortment relying on the necessity.
Gold assortment was even higher up to now with increased worth for Amazon vouchers & stmt credit score. These have been fairly helpful every now and then however is not any extra a most popular choice.
In the mean time we may get a terrific worth with Marriott (50Ps/MR) & Taj Vouchers (58Ps/MR with 24K Factors redemption).
Therefore, it nonetheless is sensible to carry the cardboard surely.
Reward Multiplier
Whereas Amex Reward Multiplier is one thing I’m not pleased with because it’s inception, it does supply a terrific worth in the event you’re not into different Tremendous Premium Credit score Playing cards.
You will get 5X rewards on the Reward Multiplier with Gold Cost Card.
What this implies is, you’ll be able to go forward and purchase 1K vouchers (like Amazon Procuring Vouchers / Myntra Vouchers) 6 occasions and get the month-to-month rewards together with the accelerated rewards by way of Rewards Multiplier.
That may fetch you 1600 MR factors a month (1000+600), which is about 19K factors a 12 months. This implies you get a candy ~13% reward fee on 72K such spends in a 12 months.
However of-course you’re gonna do different spends as effectively on the cardboard and so the reward fee will drop.
General, you’ll be able to simply recover from ~6% web reward fee (with renewal price waiver) in the event you’ve time to optimize the spends, else you’ll be able to atleast anticipate 4% return even in the event you’re not optimizing a lot, besides month-to-month rewards.
Different Advantages
- International Alternate Markup price: 3.5% + Service Tax
- Amex medical health insurance advantages (with ICICI Lombard)
- 100% Cashback a month upto 500 INR at Lakme Salons
- Supplementary Card Provides
- Amex Festive Provides
- 24/7 premium assist
The draw back nonetheless is that being a semi-premium card, probabilities of it getting used at low margin retailers are excessive, resulting from which one may get into card acceptance points.
Learn how to apply?
You could apply on-line/offline or at airport shops (no particular airport affords in the meanwhile), whichever is handy for you.
At present, among the best supply you would get is the extra 2000 bonus factors (1000 INR worth) by making use of by way of a referral hyperlink.
For those who’re already holding an Amex card, do word that American Categorical means that you can maintain 1 Cost Card + 2 Bank cards at any time limit.
Be aware: It’s higher to use utilizing your Aadhaar tackle, in any other case the applying may get delayed (or) even rejected, as reported by a few of those that skilled it.
Bottomline
- CardExpert Score: 4.7/5
With a reward fee that may go as excessive as ~6% on a cost card with a low becoming a member of price, American Categorical Gold Cost Card is certainly a tremendous card to carry.
On high of it, you get a fantastic card with credit score restrict enough sufficient to maintain your emergency excessive worth spends, if any. And getting rewards on gasoline/utility spends is one other benefit.
All these backed by one of the best buyer assist on the planet. So it’s no marvel vital for many.
Simply incase in the event you don’t require the next credit score restrict, want to have EMI facility and like extra rewards, chances are you’ll go for the Amex Membership Rewards Card which is sort of much like this card and is issued as “First 12 months FREE” for a restricted interval.
What’s your ideas concerning the American Categorical Gold Cost Card? Be happy to share your ideas within the feedback under.
