American Express Gold Card
American Express Gold Card is one of the best and popular credit cards that American express avail for customers. Charges of this card are quite limited and this card is best option for limited facility seeking customers. If you want maximum facility in limited investment then this card is best for you. This card will help cardholders to boost their extra income and rewards. This credit card offers the facility of bonus rather than rewards points for all users. One interesting thing about this card is that it changes offers regularly to bring something new for all users. It is use choice what is factors that making them to apply for credit card. If find yourself comfortable in paying extra amount then this is one of the privileged facility that you can use to earn maximum bonus points. Another interesting aspect of this card is that it will help you to manage your credit score as well as finance management, all this because bank charge higher fees in case of delay in due payment.
Facilities and Benefits of American Express Gold Card
American Express Gold Card offers the facility to earn maximum cache reward while using card to pay several types of bills. One major fact that will be helpful is membership reward program that avails the opportunity to utilize points through more than 600 utilization points including hotel accommodation, flight ticket booking, Shopping voucher any many more.
One thing that user must always remember than American Express Gold Card is not a credit card but it is charge card, one of the major difference between these two terminology is that charge card does not avails the facility of credit to users, it means that it is mandatory for user to pay amount at month end, otherwise applicable charges will be imposed. User will also find difference of these two, so observe the all applicable difference and spending criteria. It will be better to understand the basics and respective condition to keep things easier and simple. As per current information basic interest rate will be 5% of total outstanding balance.
Points Glory and Joining Bonus
If user will use this card in first 2 month form date of approval, then they will receive 4000 bonus membership rewards point. Under this offer there are no criteria if minimum amount transaction, what user needs to do is swap their card in certain time period. After successful one year of use, when user will renew its subscription then he/she will earn 5000 bonus rewards point, remember that this offer is valid with first year subscription plan.
There is another option that you can utilize is that when you will pay different types of utility bill for insurance, mobile, electricity bill and you will get 1000 bonus rewards points, offer is valid for first five month of card issue date.
Impressive Reward Rate
As we know that membership reward is one of the trademark loyalty programs availed by the American express bank. User will earn 1 membership reward point when he/she spend INR 50 or more. Apart from this membership rewards points can be earn while spending amount on insurance, utility bills, fuel and others. One another interesting thing about this card is that earned rewards point will never expire and user can utilize them while shopping or paying bills at restaurants.
Earn Rewards Points Regularly
To earn 1000 bonus rewards points user just need to swap his/her card six times in a month and total spend amount must be more than INR 1000. On the other hand if we think in economical way then we will find than to get 1000 bonus reward points, you are spending INR 6000 in a month. The worthless of points is much higher than other points and these points can be converted into other loyalty rewards points.
American Express Gold Privileges
Users will get minimum 20% discount on associated restaurants. Another remarkable feature of this credit card is zero card lost liability. Users will also get the card replacement facility whenever need to replace that card without any complication. Users can also apply for maximum two add on cards that too without any extra charges.
American Express Gold Card users will get exclusive offers availed by the renown company like makemytrip. If someone will book one way trip then will get INR 300 as cash back at the same time if someone will book round trip then will earn INR 500 as cash back reward. This offer is for domestic flight ticket booking. In case of, international flight ticket booking, user may earn INR 5000 or 6% of amount, as per condition of the offer. This is limited time offer so go for it before it expires.
Important Document for Applying American Express Gold Card
1. Important documents such as PAN card, address proof, identity proof to complete KYC process.
2. Recently clicked passport size photograph.
3. Bank statement and salary slip as income proof.
Eligibility Criteria for American Express Gold Card
1. Only Indian Resident can apply for this Card.
2. Impressive bank transaction records.
3. Age must be 18 years old (minimum).
4. Impressive CIBIL Score is Mandatory.
5. In case of self-employed, your business must be 1 year old.
Points Where American Express Gold Card is not so good?
Higher Annual Fees
In compare to other respective credit card, this is quite expensive and it is not so good form economical point of view. User may get much better offers and benefits in less annual subscription fees. Annual fees for this credit card are INR 4500.
If we compare features of this credit card in compare with respective range credit card, then we will find that user of this card will get limited offers and features.
Limited Time Offers
There are several offer availed by the respective bank through this credit card but these offers are available for limited time only. So it can be said that this is concerning point that bank must consider.
Higher Fuel Surcharge
User of American Express Gold Card will have to 2.5% of fuel surcharge, as we know that this is around 1.5% higher than other respective credit cards. So always keep this point in your mind while swapping this card at fuel stations.
Why American Express Gold Card?
a. Bonus Points on Joining.
b. Exclusive membership reward privilege by American express.
c. Offer higher rewards rate for members.
Charges and Fees for American Express Gold Card
This will come into effect only if you are not paying dues on time, users have to pay delinquency fees and current rate is 5% of the total amount.
Add on Card Fees
Two add on card absolutely free, after that user needs to pay INR 1500.
Cash Withdrawal Limit
As per recent updates, use can easily withdraw maximum 10000 in tenure of 14 days, without any complication.
Foreign Currency transaction fees
Current rate is 3.5% of total amount.
Reinstatement fees or point redemption
INR 200 for reinstatement of points for every moth billing statement and around INR 250 for every redemption of air miles.
Cash Advance Charges
This is quite similar to other card charges to all users. Current charge is 3.5% of total amount.
Points that will help you to maximize your reward
1. Benefits earned through add on card will be added into primary card, that will help you to earn maximum reward.
2. You can easily earn up to 1000 rewards points, if you will follow all instruction.
3. Spend INR 1000 and more and 4000 bonus rewards point, if you will perform regular transaction though that card.
4. Interesting offers and rewards on domestic and international flight ticket booking.
5. Bonus points can be easily redeemed while buying gold collection and other things.
6. Just swap your card for three times within card issue date and earn maximum reward points.
7. Always remember one thing that maximum bonus can be earned through gold collection reward program and reward accumulation center.