I was just approved for this AMEX Premier Gold today, Wednesday, after submitting an online application on Sunday morning (and after having been approved for the Blue Cash Rewards $2k limit on Wednesday, a week ago). My scores are TU 707, EX 655, EQ 673 as of right now. I had kicked around the idea of applying for the PRG and Blue Cash at the same time, but decided to see how the traditional credit card approval went, and it was instantantly approved on that decision. On this one, they called this morning just to confirm my address and birthdate, and then the approval (after about a minute) was finalized right on the phone. For anyone considering applying, some factors that may be important beyond just credit scores are debt-to-income (mine is roughly $10k in student loans to $64k self-employed income), credit utilization (mine is under 5%, paid in full monthly), payment history (I do have 6 total late payments between 2012-2013, but none since). So if I had to sum it up, I would say mid 600s Experian score, no lates in the past 24 months and no open collections (my EQ & EX reports still show some closed collections; 2 from pre-2012 and 1 in 2013). Hope this helps.
ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL
- Balance Transfer Intro APR Not Applicable
- Balance Transfer Regular APR Not Applicable
- Annual Fee $0 intro, $195 after first year
- Purchase Intro APR Not Applicable
- Purchase Regular APR Not Applicable
The Premier Rewards Gold Card from American Express is a charge card with great rewards that’s aimed at good-to-excellent credit consumers.
What to Like
There are plenty of ways to earn rewards with this card. You can earn 3x points on flights booked directly with airlines, 2x points at eligible gas stations, restaurants, and supermarkets and 1x points on other eligible purchases. There’s also a rewards bonus if you meet minimum spending requirements, no annual fee for the first year and no pre-set spending limit.
Look Out For
This is a charge card, meaning you’re required to pay your balance in full each month. There’s also a $195 annual fee after your first year and no pre-set spending limit doesn’t mean unlimited spending.
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3x Membership Rewards points on travel, 2x on gas and groceries, 1x on everything else. It sounds pretty good! In fact, it is. The catch? $175 annual fee. That's not terrible. The problem I have with American Express right now is that as a current American Express Blue cardholder I was deemed ineligible to receive the bonus 25,000 signup bonus Membership Rewards points. The exclusion criteria say only charge card holders should be excluded. That's entirely subjective, though.
Objectively, this card provides some good points, but not any good perks. I applied with a 750 Experian FICO (American Express tends to pull Experian) and was instantly approved. I have other cards with similar points schedules but better card benefits. My Barclaycard gives me 2x points on all purchases and 10% back on points when redeemed for travel (so roughly 2.2x points) and all the World Mastercard benefits (including concierge service, a service reserved for American Express Platinum or Centurion cardholders) for a fraction of the American Express annual fee. There's a certain prestige to the American Express Premier Rewards Gold card, but that's about as far as that goes.
A good card with middle-of-the-road benefits and a high annual fee.
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Data Created: February 02, 2015
Note: Sample data consists of Credit Karma members who hold this card.
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