Card Comparison: 15,000 vs. 10,000 Rewards Bonus Points from American Express Charge Cards
American Express has recently rolled out a new charge card called Premier Rewards Gold Card that is targeted to people with excellent credit history. It’s basically a better version of its sister charge card Preferred Rewards Gold Card. To better help you understand the difference, I compare them below, and highlight the relative benefits in green, and drawbacks in red.
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American Express Premier Rewards Gold Card |
- Earn 15,000 Membership Rewards® bonus points when you spend $1,000 in your first 3 months of Card membership
- Earn Membership Rewards points up to three times as fast: You can earn 3X points on airfare, 2X points on gas and groceries, and 1X points on everything else
- Earn 15,000 Membership Rewards bonus points when you spend $30,000 per calendar year.
- Annual fee: first year free, then $175 per year
- Requires excellent credit
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American Express Preferred Rewards Gold Card |
- Earn 10,000 Membership Rewards® bonus points when you spend $500 in 3 months – redeemable for a $100 gift card!
- The Membership Rewards® program – Earn 1 Membership Rewards® point for virtually every dollar you spend and redeem for your choice of travel, shopping, and entertainment
- Express Approval. Get a decision in less than 60 seconds.
- Annual fee: $125 per year
- Requires excellent credit
Membership Rewards Bonus Points can be redeemed to frequent flyer miles at 1 point:1 mile ratio and to gift cards at several stores like Home Depot, Crate & Barrel, or Macy’s at 100 point : $1 ratio.
With these card features, Premier Rewards Gold Card is a better card. There are two ways to take advantage of its benefits depend on what you want to get out of it. If you want to avoid annual fee, then you can spend $1000 in first 3 months, get 15000 MR bonus points up-front, then cancel the card. If you are a big spender (spend more than $30,000 per year), then you can keep the card, since the annual bonus for spending $30,000 could almost offset annual fee.
Important Disclaimer: the credit cards information in this post were accurate as of the date of publishing, some or all of the card programs may be discontinued, their terms may be changed after wards.
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