4 hidden gems of the Amex Gold card perks

Editor's note: This article is updated regularly with fresh information and offers.

If you're thinking about applying for the American Express® Gold Card, the amazing rewards tailored for food enthusiasts might have caught your attention.

The main features of the Amex Gold card make it an excellent choice — offering over $400 in annual statement credits every calendar year, which can easily outweigh the $325 annual fee (see rates and fees), along with 4 points per dollar in bonus categories.

As of July 2024, TPG values American Express Membership Rewards points at 2 cents each, effectively allowing you to earn 8% back on eligible purchases. Enrollment is necessary for certain benefits, and terms apply.

This card has been recently updated with a higher annual fee, new statement credits, and a special limited-edition color option.

Although the Amex Gold card may not boast as many perks and benefits as some of its premium rivals, it does provide several valuable and underrated features that can sway your decision. Here are four of our top picks.

The Amex Hotel Collection

While American Express provides only 2 points per dollar on prepaid hotel bookings made through Amex Travel, it offers a hotel-specific advantage that many cardholders might find beneficial.

By using your Amex Gold to reserve hotels through The Hotel Collection, you can benefit from a credit of up to $100 on stays of two nights or more. This credit is applicable for amenities such as spa treatments and resort activities.

This could be an excellent choice if you lack a card that offers additional bonus points for hotel bookings. For short, budget-friendly stays, the up to $100 property credit can provide significant savings. Terms apply.

Baggage insurance

The remaining perks on this list are classified as "you hope you never need them, but if the situation arises, you’ll be so grateful to have them."

Baggage insurance is among these perks, particularly since some airlines can be surprisingly forgetful about loading bags onto planes. Terms apply.

When you buy your entire common carrier ticket using your Amex Gold, you can receive up to $1,250 in reimbursement if your carry-on is lost, stolen, or damaged, and up to $500 for checked baggage, in addition to what the common carrier covers.*

It's essential to remember that baggage insurance applies to various modes of transport, including airlines, trains, and buses.

Two other critical points to consider: firstly, there is no insurance for luggage delays. Secondly, you must purchase the full ticket with your card to qualify; simply paying taxes on an award ticket won’t suffice.

*Eligibility and benefit levels differ by card. Terms, conditions, and limitations apply. For more information, visit americanexpress.com/benefitsguide. Policies are underwritten by AMEX Assurance Company.

Car rental insurance

If you charge a rental vehicle to your Amex Gold and opt out of the collision damage waiver at the rental desk, Amex will protect you in case your car gets damaged or stolen.**

This coverage is secondary protection, which activates after and alongside your personal insurance policy, with some exclusions to keep in mind.

For example, rentals in Australia, Italy, and New Zealand are not covered; specific types of ATVs, limousines, and certain vehicles are excluded; and coverage is limited to the first 30 consecutive days of the rental. It also does not cover injuries to you, your passengers, or others, nor does it address property damage.

Purchase protection and extended warranty

The Amex Gold offers a range of purchase protections. As a cardholder, you can claim up to $10,000 for each incident and a total of $50,000 per year for replacing lost, stolen, or damaged items.***

You'll also benefit from extended warranty coverage when making purchases with your Amex Gold. This can add up to an additional year to a manufacturer's warranty that is five years or shorter. Terms and conditions apply.***

***Eligibility and benefit levels vary by card. Terms, conditions, and limitations apply. Visit americanexpress.com/benefitsguide for more details. Policies are underwritten by AMEX Assurance Company.

Final thoughts

There are additional benefits you might overlook, like complimentary two-day shipping when you sign up for Shoprunner and priority seating at sporting events. Many of these advantages tend to remain unnoticed, but being aware of your benefits can lead to significant savings.

For more information, check out our comprehensive review of the Amex Gold.