It was only back in early 2014 when American Express came out with the American Express Gold Cash Back Credit Card and within less than a year, the credit card was discontinued. I wasn’t a big fan of the credit card at the time, and I guess not enough people signed up for it either.
The highlights of the credit card were as follows:
- $99 annual fee
- No fee for additional cardholders
- Earn 0.5% cash back on your first $2,500 in purchases ($12.50 cash back)
- Earn 1.0% cash back on purchases between $2,500 and $5,000 ($25 cash back)
- Earn 2.0% cash back on purchases between $5,000 and $100,000 ($1,900 cash back)
- Earn 1.0% cash back on purchases exceeding $100,000
I am really hoping that American Express has a few surprises up their sleeves. They are actually one of my favourite financial institutions. They offer a great variety of great credit cards to choose from. I see two choices going forward with American Express. They can either continue to come up with new products. Better yet, I recommend that they focus on improving their current products in order to retain more clients on existing credit cards.