Is the Amex Gold Card Good for Building Credit? (2024)

FAQs

Does Amex Gold card help build credit? ›

Yes, the American Express® Gold Card builds credit, since American Express reports your account information to all three major credit bureaus each month. Making on-time payments and keeping your balance low will improve your score. On the other hand, missing payments and maxing out your limit can hurt your credit.

American Express will pull your credit when you apply. And since it features some pretty decent benefits, the American Express® Gold Card requirements for approval tend to be a little stricter. We recommend that you have a good to excellent credit score, which ranges from 690-850, before you apply.

If you have a Consumer or Business Green, Gold or Platinum Card, your Card does not have a credit limit. Instead, your Card has no preset spending limit unless you have been previously notified otherwise. No preset spending limit means the spending limit is flexible.

You'd call it the American Express® Gold Card. In fact, using just two of the card's main benefits nearly covers the $250 annual fee. That's pretty incredible for a card many consider the best card for dining out at restaurants and also a strong pick for a grocery card too (at supermarkets in the U.S.).

American Express can help your credit score if you are the primary accountholder or an authorized user aged 18 or older on an American Express credit card or charge card account. For an Amex card to be good for your credit score, the account must be kept in good standing with on-time monthly bill payments.

However, premium cards like the American Express Gold card generally require good to excellent credit. According to Equifax, one of the three main credit reporting bureaus, that means you'll need a credit score of 670 or higher.

It's fairly easy to get the American Express® Gold Card, although it's best to apply with clean credit, an income of at least $60,000, and a positive relationship with American Express. Prequalifying through CardMatch™ is also a quick and risk-free way to see if you're ready to apply.

It is hard to get the American Express® Gold Card because you will need good to excellent credit for approval. Unless your credit score is 700 or higher and you have a lot of income, it will be very hard for you to get approved for the Amex Gold card.

You must pay at least the Minimum Payment Due by the Payment Due Date each month.

An overpayment will not help boost your credit limit, not even temporarily. Your credit limit remains the same – you'll just have a negative balance that will be applied toward your next statement. Details like credit score and income are usually factored into a credit limit increase.

Does Amex Gold count as a credit card? ›

Enjoy financial flexibility and the opportunity to maximize your Membership Rewards® points. Because your Card is a Charge Card, rather than a Credit Card, you pay your balance in full each month.

Is the Amex Gold Card a premium card? The Amex Gold Card is a midtier card with a price point to match, which places it a notch below a true premium card, like The Platinum Card® from American Express which carries a $695 annual fee to match its long list of perks (terms apply, see rates & fees).

The bottom line is that if you take full advantage of its benefits and use the card every time you dine out, buy groceries, or book flights, the perks of the American Express® Gold Card can be worth double the card's annual fee, or even more.

The shiny gold or rose gold look is just the first of many reasons to love this card. With a $250 annual fee (see rates and fees) and a list of perks that fall squarely between "mid-tier" and "premium," the American Express Gold Card is a TPG favorite for a reason.

You can apply for a credit limit increase with American Express through your online account or by calling the number on the back of your credit card. If you want to submit your request online, visit the credit line increase request page and log in to your account.

Yes, American Express^® MyCredit Guide is a free service that allows you to view your FICO^® Score and Experian^® credit report for free, whether or not you are currently an American Express Card Member. Once enrolled, you can access your free credit score and credit report at any time.