Apply for American Express Gold Credit Card

People are saying that American Express Gold Credit Card is a perfect card for traveling because of its great features.

This is since American Express Gold Credit Card is a card that features a premium travel experience and a generous sign-up bonus. It’s a card for people who travel a lot for business or leisure. American Express Gold Credit Card has different perks for different travelers. There is a sign-up bonus and a travel credits that can be used to get further discounts on your purchases and to help offset the high annual fee with cash back and travel rewards.

Although American Express Gold credit card has many benefits, people are saying that it charges too many fees. Some people are also saying that American Express Gold credit card charges a high interest rate.

Rates and Fees of American Express Gold Credit Card

Annual Fee: If you want the many benefits American Express Gold Credit Card can give, you must be willing to pay a hefty annual fee of $250. The fee is not even waived in the first year so it can be a little hurtful on your wallet.   

Late Payment Penalty Fee: The late payment penalty fee of American Express Gold Credit Card is 7% of the overdue amount. This fee is for consumers who forgot to pay their dues on time.   

Returned Payment Fee: For every returned payment fee or the penalty made whenever a consumer has insufficient amount on their checking account for reimbursement, they have to pay $35 to their American Express Gold Credit Card.   

Foreign Transaction Fee: The foreign transaction fee of American Express Gold Credit Card is 2.5%. This percentage is considered hefty which makes the card not good or international purchases especially when traveling. 

Interest Rate: The monthly interest rates of American Express Gold Credit Card is a fixed 3.5%. This only means that the annual percentage rate of the card can go up to 42%.   

Other fees: If you want a slip retrieval fee, you have to pay $300 to Amex. Other fees also include 5% for cash advance fee and installment processing fee of 5% for every $300.   

Qualifying for American Express Gold Credit Card

Minimum Credit Score needed: You have to have a good credit score of 670 and above if you wish to get the American Express Gold Credit Card.     

Annual Income requirements: American Express Gold Credit Card doesn’t disclose anything about their annual income requirements but it’s better if you have the average annual income of $40,000 to get the best eligibility level. 

How to apply for American Express Gold Credit Card?

To apply for the American Express Gold Credit Card, you can do so online. However, you must be at least 18 years of age and reside in the United States in order to apply. You must also have a Social Security Number in order to apply. You must also provide a valid email address and a verifiable US street address. You must have a credit score of at least 680 in order to be eligible for the American Express Gold Credit Card.

If you think you are qualified, head to the website of Amex and answer their online application form. The bank will get in touch with you regarding your application and let you know if further documents are required.

Once everything goes well and you’ve been accepted, review the terms and conditions carefully and sign the contract. 

Final thoughts

The American Express Gold Credit Card is a card that gives you many benefits, such as missed payment protection, airport lounge access, and more, but the card also has high fees. So if you are willing to get this card, take into account the interest rates and fees you are about to shoulder.