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March 31, 2006
Review of the American Express Rewards Gold Card
Like every Amex card you will only qualify if you have excellent credit. I do mention this on every American Express review that I publish because it is vitally important that you avoid applying for credit cards that you won't qualify for as it will adversely affect your credit. Other lenders may not lend to you if they see too many denied credit applications on your credit bureau report.
With the American Express Rewards Gold credit card the key perks to entice you to apply are:
5000 bonus points which you can redeem immediately
Earn 1 point for virtually every dollar you spend on Card purchases
Earn 2 points for virtually every dollar you spend at stand-alone supermarkets, gas stations, drugstores, the U.S. Postal Service (excluding bulk mail), or to pay your wireless phone bill
Redeem points for rewards from over 50 of the finest names in shopping and entertainment, including DellTM Computer, Callaway® Golf, and The Sharper Image®
Transfer points into 11 frequent flyer programs -- 2 points for 1 airline mile with most programs
Redeem points for travel certificates from 6 of our domestic and international airline partners
Points have no expiration date
There is no limit to the number of points you can earn
The fees associated with the American Express Gold card are:
$90 Basic Card Annual fee
$35 Annual Fee for Additional Cards
All charges made on this Charge Card are due and payable when you receive your billing statement.
Late fees vary from state to state so make sure you check for your state. Other details about the Amex Rewards Gold card are:
Minimum yearly income required to qualify for the card is $20,000
The only real problem this card could present to the cardholder is the fact that all charges made in a billing cycle are due immediately upon receiving your statement. Yes, every dime you spend for a month must be paid in full each and every month.
I only recommend this card to those you have very good bill payment habits. Those of you who tend to carry a balance on your credit cards should avoid applying for this card.
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