"Recently, a Reddit user took to Twitter to have a discussion about his credit card. He has an Amex Gold Card, which he says he is "really liking so far." He's had the card for two months already and feels pretty comfortable with it. However he's also noticed that many other people online hate the card, and he's not sure why so many people feel that way when his experience has been good."
"All of this makes good sense. It is true that the card does have a hefty annual fee, but it also offers statement credits for things that many people, including the original poster, would be buying anyway. Since the OP is getting money back for everyday spending, the card effectively ends up costing him nothing."
An Amex Gold Card awards four times the standard points at restaurants and groceries and includes several statement credits. The card carries a substantial annual fee. Many of the statement credits align with common spending categories and can offset the fee for cardholders who use those benefits organically. The hotel credit may be an exception requiring specific use. Some cardholders find the card valuable without manufactured spending, while other consumers dislike the card despite its rewards. Individual spending patterns and credit benefit utilization determine whether the card delivers net value.
Read at 24/7 Wall St.
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