American Specific Gold Cost card additionally popularly referred to as the Amex Gold Card globally is an entry degree Cost Card in India from American Specific. It is likely one of the solely two “Cost” Playing cards issued within the nation in the mean time.
From no-preset credit score restrict to good-looking rewards and premium assist, right here’s every little thing you have to learn about this stunning Amex Gold Cost Card.
Overview
| Kind | Cost Card |
| Reward Charge | 1% – 4% |
| Becoming a member of Price | 1,000 INR+GST |
| Finest for | Taj Voucher Redemptions |
| USP | Dynamic Credit score restrict & Month-to-month Rewards |
American Specific Gold Cost Card is a rewards card that provides good-looking reward charge, pretty much as good as ~4% and even past, if used proper.
In case you’re new to bank cards (holding at-least one non-Amex card) and in search of larger credit score restrict, chances are you’ll begin with Amex Gold cost card – extra on the credit score restrict intimately later.
Apply by the hyperlink on the web page & you’ll get further 2,000 Referral Bonus Membership Rewards® factors (spend INR 5,000 inside 90 days)
Charges
| Becoming a member of Price | 1,000 INR+GST |
| Welcome Profit | 4,000 MR Factors (1000 INR worth) |
| Renewal Price | 4,500 INR+GST |
| Renewal Profit | Nil |
| Renewal Price waiver | Nil |
The welcome profit not solely offset’s the becoming a member of charge but in addition comes with bit extra worth should you redeem the factors for Amex Gold Assortment.
The renewal charge certainly seems to be fairly excessive however to not fear, as you may get it waived off by calling Amex assist. Anticipate upto 100% waiver on renewal so long as your annual spends are over 2 Lakhs.
Design
The Amex Gold Cost Card has one of many iconic design I’ve ever come throughout. There are not any bank cards in India that will get seen pretty much as good as this, even the steel playing cards doesn’t get the eye that this golden card will get.
It seems to be elegant and offers a wow really feel when somebody seems to be at it for the primary time. I’ve had many conversations round it for a few years with retailers again in time when Amex playing cards weren’t issued to the mass market.
Credit score Restrict
An important distinction between different bank cards and Amex Gold Cost card is that it doesn’t include a preset credit score restrict and you may’t convert your purchases to EMI both, as full due needs to be paid upon stmt technology.
Whereas the cardboard doesn’t include a credit score restrict, it does have a “shadow restrict” which Amex calls it as “Credit score Assist” and it retains altering as per your spend sample.
Amex used to permit me to cost as excessive as Rs. 20 Lakhs on my Gold Cost Card again in time once I was utilizing the cardboard. This was attainable even with not-so excessive common spends.
Nonetheless, from what I’m listening to from different cardholders, they’re giving comparatively low credit score restrict on their Gold cost playing cards nowadays and that they’re additionally proactively lowering the restrict if there is no such thing as a common utilization on the cardboard.
Having mentioned that, chances are you’ll anticipate it to permit loads larger cost than a typical bank card, so long as the spends are taking place usually.
Rewards
| SPEND TYPE | REWARDS | REWARD RATE (CASH CREDIT) | REWARD RATE (MARRIOTT/TAJ VOUCHER) |
|---|---|---|---|
| Common Spends | 1 MR on each 50 INR spend | 0.50% | ~1% |
- Utilities, Gasoline spends are included as properly
- Rewards don’t expire.
It’s good to see that Amex has determined to supply rewards on gasoline & utilities on this card not too long ago, so you may benefit from this profit.
In case you plan to make use of this card for gasoline, do it solely at HPCL (0% gasoline surcharge), as different retailers would possibly cost significantly excessive gasoline surcharge on Amex Playing cards.
The reward factors earned on MRCC are ideally meant for Marriott transfers (or) Taj voucher redemptions through 24K Gold Assortment, as different choices should not enticing sufficient, until you understand what you’re doing.
Additionally word that the MR factors earned on Gold Cost Card may be pooled with different Amex playing cards (besides Plat journey), so you may get nearer to 24K or 18K Gold assortment redemptions quicker than earlier than.
Month-to-month Rewards
- Spend: 6*1000 INR = 6000 INR
- Get: 1000 MR Factors = ~500 INR
Month-to-month rewards is the USP of Gold playing cards (Gold Cost Card & MRCC) where-in clients are given 1000 MR factors on doing sure spends, which is 1000 INR * 6 occasions a month on Gold Cost card.
The Worth of 1000 MR factors is barely 250 INR should you redeem for money credit score however should you intention for the gold assortment or redeem factors at Marriott properties that’s simply 500 INR worth, which suggests you’re getting ~8% return on spend. (assuming 1MR=0.50 INR)
You might as properly accumulate factors and hope to redeem for Taj vouchers below 24K Gold Karat Assortment which is able to additional improve the purpose worth from 0.50 INR to 0.58 INR.
Whereas it might all look so profitable, it calls for lot extra spends to maintain the cardboard free for subsequent yr. So if we assume 2L spends performed on the cardboard in a yr, the reward charge will drop however nonetheless we get a pleasant ~4% return on spend.
My Expertise
I used to be holding Amex Gold Cost Card for couple of years earlier than lastly transferring on to the Amex Platinum Cost Card. I’ve redeemed the factors largely on Marriott (Factors Switch) & on Gold Assortment relying on the necessity.
Gold assortment was even higher previously with larger worth for Amazon vouchers & stmt credit score. These have been fairly helpful sometimes however isn’t any extra a most popular possibility.
For the time being we might get an incredible worth with Marriott (50Ps/MR) & Taj Vouchers (58Ps/MR with 24K Factors redemption).
Therefore, it nonetheless is smart to carry the cardboard definitely.
Reward Multiplier
Whereas Amex Reward Multiplier is one thing I’m not pleased with because it’s inception, it does provide an incredible worth should you’re not into different Tremendous Premium Credit score Playing cards.
You will get 5X rewards on the Reward Multiplier with Gold Cost Card.
What this implies is, you may go forward and purchase 1K vouchers (like Amazon Purchasing Vouchers / Myntra Vouchers) 6 occasions and get the month-to-month rewards together with the accelerated rewards through Rewards Multiplier.
That may fetch you 1600 MR factors a month (1000+600), which is about 19K factors a yr. This implies you get a candy ~13% reward charge on 72K such spends in a yr.
However of-course you’re gonna do different spends as properly on the cardboard and so the reward charge will drop.
General, you may simply recover from ~6% internet reward charge (with renewal charge waiver) should you’ve time to optimize the spends, else you may atleast anticipate 4% return even should you’re not optimizing a lot, besides month-to-month rewards.
Different Advantages
- International Trade Markup charge: 3.5% + Service Tax
- Amex medical health insurance advantages (with ICICI Lombard)
- 100% Cashback a month upto 500 INR at Lakme Salons
- Supplementary Card Affords
- Amex Festive Affords
- 24/7 premium assist
The draw back nevertheless is that being a semi-premium card, possibilities of it getting used at low margin retailers are excessive, on account of which one would possibly get into card acceptance points.
Methods to apply?
You might apply on-line/offline or at airport retailers (no particular airport provides in the mean time), whichever is handy for you.
Presently, probably the greatest provide you might get is the extra 2000 bonus factors (1000 INR worth) by making use of through a referral hyperlink.
In case you’re already holding an Amex card, do word that American Specific lets you maintain 1 Cost Card + 2 Bank cards at any cut-off date.
Word: It’s higher to use utilizing your Aadhaar deal with, in any other case the applying would possibly get delayed (or) even rejected, as reported by a few of those that skilled it.
Bottomline
- CardExpert Ranking: 4.7/5
With a reward charge that may go as excessive as ~6% on a cost card with a low becoming a member of charge, American Specific Gold Cost Card is certainly an incredible card to carry.
On prime of it, you get a ravishing card with credit score restrict adequate sufficient to deal with your emergency excessive worth spends, if any. And getting rewards on gasoline/utility spends is one other benefit.
All these backed by the very best buyer assist on the planet. So it’s no marvel a must have for many.
Simply incase should you don’t require the next credit score restrict, want to have EMI facility and like extra rewards, chances are you’ll go for the Amex Membership Rewards Card which is kind of just like this card and is issued as “First 12 months FREE” for a restricted interval.
What’s your ideas in regards to the American Specific Gold Cost Card? Be at liberty to share your ideas within the feedback beneath.
