The American Express Gold Rewards Card is definitely in my top 3 favourite credit cards in Canada. The features I like best is the ability to transfer my points to partners, generous sign up bonus, great earning ratios on spending, comprehensive travel insurance coverage and first year fee waived. This may be one of the rare credit cards in Canada that is hard to give a recommendation for improvement.
The highlights of the credit card are as follows:
- $150 annual fee (waived the first year)
- $50 annual fee for supplementary cardholders (first one is free)
- Earn 25,000 sign up bonus points after spending $500 in the first 3 months
- Earn 10,000 referral bonus points
- Earn 2 points for every $1 spent on travel (flights, hotels, car rentals, cruises, etc.), gas, groceries and drug stores purchases
- Earn 1 point for every $1 spent on all other purchases
I just hope that this credit card continues to stay strong. The only improvement I would recommend is that there be a spending bonus. For example, if we spent $10,000 per year on the credit card, then we can waive the annual fee the following year. Another option would be that if we spend $10,000 per year on this credit card, we can earn 10,000 bonus points, or some other similar variation of a spending bonus. This way, the $150 annual fee would not fee so steep the second year, after the first year fee is waived.
Also keep in mind the changes to the sign up bonus conditions. If you already had this card before you will no longer be allowed the receive the 25,000 sign up bonus unless you are referred by a friend.
Otherwise, if you have extra room in your wallet for another credit card, I would highly recommend the American Express Gold Rewards Card on your list of cards to sign up for next.