Before applying for the American Express Premier Rewards Gold Card, read this!

Are you someone who spends more than $30,000 a year and likes a rewards card that give you more than 1 point for every $1 spent? The American Express Premier Rewards Gold Card, a fancier version of the American Express Gold Card, gives you up to 3 points for every $1 spent, but this charge card has a slightly higher annual fee than the Gold Card. Is the Premier Rewards Gold Card from American Express really worth the higher annual fee?

Here is a detailed review of the American Express Premier Rewards Gold Card, one of American Express’ best credit cards in the U.S. offering rewards, and we at DailyMarkets.com will tell you if this card is better than the Gold Card for $50 more in annual fee.

Things We Like About This Card

Earn 25,000 bonus points after spending $2,000 during the first three months of being a cardmember. This is very easy to achieve as you need only to spend less than $680 a month just to get these bonus points! 25,000 points can be redeemed for up to $250 in gift cards.

No interest. Since this is a charge card, you need to pay in full every month, thus there is no need to pay any interest.

Earn 3 points for every $1 spent on airfare purchases when you pay with your card. Earn 2 points on every $1 spent on groceries and gas. Earn 1 point for every $1 when purchasing anything else. No purchase goes unrewarded! With the American Express® Gold Card, you only earn 1 point for every $1 spent on all purchases.

Earn 15,000 bonus points yearly after spending $30,000 or more per calendar year. If you are a big spender, this is another way to earn 15,000 bonus points year after year. This is also another benefit you won’t find in the American Express Gold Card.

Earn triple points at the online Bonus Points Mall Shop when you shop online with select retailers. With the American Express Gold Card, you only earn double points for this.

Redeem your points for a wide variety of rewards ranging from gift cards, merchandise to entertainment, dining or travel-related rewards such as air tickets. You can even transfer your points to frequent flyer programs if you have one. If you prefer to redeem for airfare, you can use Pay with Points at American Express Travel and fly any airline, anytime, anywhere, with no blackout dates or seat restrictions.

Points don’t expire and there is no limit to the number of points you can earn. So really, the sky’s the limit, and you can accumulate your points to redeem a large reward later on. You won’t have to worry when the points are going to expire.

You won’t accumulate debt or have to pay high interest rates and fees because since this is a charge card, you will have to pay off the balance in full each month.

Purchase Protection. This plan may protect you against any accidental damage or the theft of eligible purchases. American Express will refund up to $1,000 per occurrence, up to $50,000 per card account per policy year.

Free extended warranty. American Express may extend the original U.S. warranty of the items you purchase that have 5 years or less of warranty by up to one year.

Return Protection. Got a change of mind with your purchase, and can’t return it because it was a final sale or the store is giving you a hard time? No worries! If you try to return an eligible item purchased in the U.S. within 90 days from the date of purchase and the store won’t take it back, the purchase price may be refunded by American Express, up to $300 per item, excluding shipping and handling, up to $1,000 annually per card account.

$250,000 in Travel Accident Insurance. This provides up to $250,000 in accidental death and dismemberment insurance when you charge your plane/bus/train/ship/helicopter ticket to your card. The American Express Gold Card only gives you up to $100,00 in travel accident insurance. Apart from this insurance, American Express Premier Rewards Gold Card also offers Car Rental Loss and Damage Insurance when renting a car, as well as 24-hour Roadside Assistance.

Baggage Insurance Plan covering carry-on and checked baggage when traveling by plane, train, ship, bus or helicopter and reimbursing you for your baggage in the case of it being lost, stolen or damaged in any way.

Exclusive access to Gold Card Events. You are eligible for upgrades and perks (such as preferred seating) that the general public doesn’t have, and in many cases, when booking events, you may buy tickets before they are out for sale for the rest of the public.

Our Least Favorite Things About This Card

$175 annual fee. This annual fee is more than worth it if you spend at least $30k a year and fly frequently since you get much more points per dollar on airfares, groceries and gas compared to the American Express Gold Card.

If you have a low credit score, you might not qualify for this charge card. Since this is a charge card whereby the balance must be paid in full each month, only people with good to excellent credit score will be eligible to get this card.

Our Verdict: 4.6/5 Stars

If you are a big spender who spends at least $30,000 a year and would like to be rewarded hugely for it, the American Express Premier Rewards Gold Card is an excellent choice. With a very generous rewards system offering up to 3 points on every $1 spent, this is one of the few cards that offer more than 1 point per dollar. In our opinion, this is a much better rewards card than the American Express Gold Card (read review of the American Express Gold Card) even though you have to pay $50 more in annual fee (first year is waived).

Here’s an example why: Let’s say you spend at least $30,000 a year on the American Express Premier Rewards Gold Card, with 50% of the amount spent on groceries and gas (2 points for every $1), and the rest on ‘everyday’ purchases (1 point for every $1). That would earn you a total of 45,000 points (you’ll get even more points if you use your card to pay for airfare). Plus, you get an additional 15,000 bonus points every year if you spend at least $30,000 in a calendar year, so now you have a total of 60,000 points. With 60,000 points, you’ll have more than enough to redeem for an Economy Class round-trip air ticket to Europe on SWISS airline, which means you get a free round-trip air ticket from the U.S. to Europe! 60,000 points could also be redeemed for other air tickets, or up to $600 in gift cards, or any other merchandise. And we’re not even including the 25,000 bonus points you could get after spending $2,000 during the first three months!

If we use the same example of spending on the American Express Gold Card, you would only get a total of 30,000 points, which is insufficient for a free round-trip air ticket from the U.S. to Europe, although you can use it to redeem for domestic air tickets or other types of rewards.

So for the same amount of spending, the American Express Premier Rewards Gold Card is a much better rewards card to get for a mere $50 more. Since this is a charge card from American Express, it won’t let you get into debt as the balance must be paid in full by the due date every month. Apply online now and you will get a response within minutes.

Click here to go to issuer’s official application to apply online for the American Express Premier Rewards Gold Card now.

• Credit Card Name
• Reward Type
• Introductory APR
• Typical APR
• Annual Fee

• American Express(R) Premier Rewards Gold Card
• Rewards
• N/A
• N/A
• $175

• Membership Rewards(R) bonus: 25K points, redeemable for select gift cards valued at $250, when you spend $2,000 in your first three months of card membership.
• Membership Rewards(R) points multiply fast! Earn 3X points on airfare, 2X points on gas and groceries, 1X points on everything else.
• Exclusive access to Gold Card Destinations and events - Enjoy special travel packages and amenities at hotels worldwide, as well as select concerts, shows, major sporting events, and more, nationwide.
• Introductory annual fee of $0 for the first year, then $175.
• Get a decision in as little as 60 seconds.

• Additional Perks: 25,000 bonus Membership Rewards(R) points after $2,000 spend in 3 months - additional 15,000 bonus Membership Rewards(R) points for $30,000 annual spend
Now, a faster way to earn points. You can earn triple points on all airfare for the life of your membership, as well as earn 25,000 Membership Rewards bonus points after you spend $2,000 in 3 months.

• N/A

• APR For Purchases: N/A

• Annual Fee: Introductory annual fee of $0 for the first year, then $175

Read Our Review Of American Express(R) Premier Rewards Gold Card

Would you prefer an American Express card with no annual fee that gives you cash back on all your spending? Then apply for American Express Blue Cash (read our Blue Cash review), one of the best credit cards for cash rewards as it offers up to 3% cash back on everyday purchases, and a $100 bonus when spending a certain amount in the first few months. Cash back is given as statement credit. Blue Cash even made it to DailyMarkets.com’s Best Credit Cards 2011.

Click here to go to the official American Express application to apply online for American Express Blue Cash now.

• Credit Card Name
• Reward Type
• Introductory APR
• Typical APR
• Annual Fee

• Blue Cash Everyday(SM) Card from American Express
• CashBack
• 0% on Purchases for 12 months
• 17.24% -22.24% Variable
• $0

• Earn $100 cash back after spending $1,000 in eligible purchases in the first 3 months of Cardmembership
• 0% intro APR on purchases for 12 months, flexibility to pay over time
• Get 3% cash back at supermarkets, 2% cash back at gas stations and department stores, and 1% cash back on all other purchases
• NO spend minimum, NO enrollment, and NO rotating rewards categories
• Get a $25 Referral Bonus for each friend or family member who is approved for the Card
• No annual fee, flexibility to pay over time

• Bonus Details: Earn a $100 cash back bonus after spending $1,000 in eligible purchases in the first 3 months of Cardmembership.
• Other Bonus: $100 cash back bonus
• Additional Rebates: Get 3% cash back at supermarkets, 2% cash back at gas stations and department stores, and 1% cash back on all other purchases
• Rebate Details: No enrollment required, no rotating spending categories to keep track of.
The Blue Cash Everyday℠ Card from American Express earns you rewards for every purchase you make, no matter where you go! Perfect for those who are financially responsible, this convenient card earns you 3% cash back at supermarkets, 2% cash back at gas stations and department stores, plus 1% cash back on everything else. Sign up without any enrollment fee or annual fee! And, if a friend or family member is approved when they apply, you will instantly receive a $25 Referral Bonus!

• 0% on Purchases for 12 months

• APR For Purchases: 17.24%-22.24% Variable
• APR For Cash Advances: 25.24%

• Annual Fee: No Annual Fee
• Cash Advance Fee: Either $5 or 3% of the amount of each cash advance, whichever is greater.
• Balance Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater.
• Late Payment Fee: Up to $35

Read Our Review Of Blue Cash Everyday(SM) Card from American Express