Fly Free, Faster and Farther: The American Express Gold Rewards Card

Sign Up Bonus Points
minimum spend of $1500 in the first 3 months
25,000
Annual Fee
$150
Purchase Interest Rate
%
Recommended Credit Score
740 850 670 739 580 669 0 579
Fair-Good
Supplementary Cards
$50*
Card type: charge card.
Transfer points to Aeroplan 1:1 or pay for ANY travel with points. Bonus of 25,000 Rewards points (conditions apply), an approx. $250 cash value. First supplementary card is free!

While not as well known as some of Canada’s other travel credit cards, we think the American Express Gold Rewards card is a hidden gem. Not only that, it is quietly Canada’s best Aeroplan credit card as well!

The Amex Gold Rewards card offers a huge sign-up bonus of up to 25,000 points (conditions apply), a rich reward rate of up to 2 points per dollar spent and the flexibility to book on any airline, any time or transfer points to a host of alternative airline loyalty programs, including Aeroplan at a 1:1 exchange rate. No other travel credit card in Canada gives you the opportunity to fly free faster or further with that type of flexibility – none.

American Express Gold Rewards Benefits

  • Up to 25,000-Point Welcome Bonus: The Gold Rewards Card offers a maximum 25,000-point welcome bonus, enough for a return long haul flight anywhere in continental North America – a huge welcome bonus. All you have to do is spend $1,500 within the first 3 months of having the card. Because you can transfer your points to Aeroplan 1:1, it’s a great way to stock-pile 25,000 Aeroplan points! Alternatively, you can redeem your 25,000 points as a $250 statement credit against any travel expense on your credit card statement. Conditions apply.
  • Earn DOUBLE points: The Gold Rewards Card allows you to earn 2 points per $1 spent on more categories than just about any other card, including gas, grocery, drugstores, flights, hotels, cruises, trains, and tour operators. Compare that to current Aeroplan cards in the market, where you’re only getting 1.25 points per dollar spent in the accelerated categories of gas, grocery and drugstore, and only 1 in travel. Because you can transfer Gold Rewards points to Aeroplan 1:1, it effectively makes it the richest Aeroplan card in Canada as well! You earn 1 point on all other purchases. There are no limits to the amount of points you can earn and your points will not expire as long as the card remains active.
  • Flexibility: Aside from benchmark point value, this card offers unparalleled flexibility and convenience when redeeming. Here’s what we mean:
  • Charge any travel you can find to your Card, with no blackouts or seat restrictions. Then call to redeem your points.
  • Your points can cover taxes and fees. You can also redeem points towards a travel charge up to 12 months after your trip or purchases.
  • Transfer your points instantly 1:1 to Aeroplan and Avios. You can also transfer your points to other frequent flyer and hotel rewards programs like Delta SkyMiles, Asia Miles, Starwood Preferred Guest and more. This last point is key. By being able to transfer your point to Aeroplan 1:1, the Amex Gold Rewards Card becomes the richest Aeroplan card available (a hidden gem). In effect, by getting the Gold Rewards Card, you get 25,000 Aeroplan points as your sign-up bonus, and you can earn 2 Aeroplan points per $1 spent for gas, grocery, drug store, flight, hotel, train, cruise and other travel purchases. No other Aeroplan card in Canada offers 2X multipliers in as many categories!

Insurance

The value of the insurance coverage included in the Gold Rewards card alone cover the cost of the annual fee. You get: emergency medical insurance, trip interruption insurance, flight delay insurance, car rental theft and damage insurance, lost or stolen baggage insurance, hotel / motel burglary insurance, $500K travel accident insurance, purchase protection and price protection. The value of  the insurance coverage can be well over $750 per year.

Amex Gold Rewards Sign-Up Bonus Cash Value

GreedyRates approximates the cash value of an Amex Membership Rewards point to be $0.01, so the cash value of this card’s maximum sign-up bonus is estimated to be $250.

Please note that the sign-up bonus is only available to *new* cardholders, not current or former cardholders.

Card Type and Interest Rate

The American Express Gold Rewards card is classified by Amex as a ‘charge card,’ and as such is recommended only to those who plan to pay their balances in full each month. Balances not paid in full will be subject to a 30% interest rate*. The card’s interest-free grace period is 28-31 days (a full calendar month) from the Closing Date of one statement to the Closing Date of the next.

American Express Gold Rewards Fees

Annual Fee$150
Supplementary Card Fee1st card free, $50/additional card
Foreign Transaction Fee2.5%
Funds AdvancedGreater of 3% of funds advanced or $0.75
Dishonoured Payment$25
Points Reinstatement$20/$30

Eligibility Requirements

Eligibility requires Canadian residency, a Canadian credit file and age of majority in the province or territory where you live. If you apply online you should get a response to your application in 60 seconds.

*American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link.

Article comments

2 comments
Pierre Malouin says:

What is the maximum age, if any, for the insurance coverage

The GreedyRates Team says:

Hi Pierre,

Your comment is much appreciated. If you’re worried about being ineligible for the Gold Reward Amex card’s travel medical insurance coverage, then you shouldn’t be too worried until you reach age 65. At this point, you’ll have to consider a card that extends your coverage, which we’ll get to after we address a few other things. Amex’s fine print states that you’re covered for “eligible emergency medical expenses incurred while traveling outside your Canadian province or territory of residence, for the first 15 consecutive days of each trip, up to a maximum of $5,000,000 per insured person, [and] for all insured persons under the age of 65.” That’s a lot of criteria, but the wording makes it clear that after 65, you won’t be covered at all.

Instead, people who put a premium on their medical coverage while travelling look towards the Desjardins Odyssey Gold card. Funnily enough, Desjardins cardholders who are age 65 to 75 get the same 15 days of out-of-province medical emergency coverage as the Gold Amex card. They’ll even have the option to buy extra coverage once they’re above age 75 through Desjardins, making it by far the best options for insurance coverage for older travellers. If you’re between 60 and 64 you’re covered for 31 consecutive days, and if you’re under 59—60 full days of coverage. Other insurance for travellers, a fast system for earning BONUSDOLLARS on your most common purchases, and other perks are the icing on the cake. Enjoy!

GreedyRates