Amex does not offer any card without annual fees. I heard that American Express does not waive off annual charges but I got my annual fees waived off this year.
I will tell you the whole story, just go through the benefits first. I got my Amex gold card last year and I am reaping a lot of benefits.
American Express Gold Credit Card Review
Hacks I used to make the most out of this card
Like you, I also thought that American Express Credit Cards are very costly in India. No one wants to sign up for credit cards with annual fees.
But I was missing one important thing. I did not compare annual fees with the benefits of the card.
Amex Gold card gives 1000 bonus points for using card four times in a month with transactions of at least 1000 rupees.
That was the single biggest reason I signed up for Amex Gold Credit Card. 1000 bonus points are worth Rs.250 if used to pay the credit card bill.
The same 1000 bonus points are worth Rs. 400 if used to redeem Indigo Airline Vouchers.
I just have to spend 4000 rupees in a month in four transactions.
American Express Gold Card Rewards
There was a solid plan in my mind.
I use paytm and amazon for most of my online shopping and paying bills. It’s easy to load the money in paytm wallet and amazon gift card balance.
I loaded 1000 rupees 6 times every month, either in paytm or amazon to qualify for 1000 bonus points.
Then, I can use the card for additional benefits throughout the month without losing my chance of earning bonus points.
See how much I can save overall by loading Rs. 6000 every month in e-wallets like Paytm / Freecharge / or Mobikwik.
- Loaded 6000 rupees in paytm wallet – 1000 bonus points + 80 regular points
- Spending 1000 rupees in a month on fuel on HP using paytm
- Paying bills of mobile & D2H (1000-1500)
- Buying clothes & household stuff through paytm wallet (2000-2500)
- Depending on current deals and offers I make 500 to 1000 cashback
In any case, I have to fill the diesel in car, pay my bills and buy stuff online. The above system gives me free money upto 1000 with 6000 loaded in my online wallet.
American Express Gold Card Benefits in India
It has no preset limit. American Express Gold is a charge card which means you have to pay the amount in full every month. Best for people like me who do not carry any balance to avoid interest charges.
You will get benefits from MakeMyTrip. I have not availed any benefit yet so can not tell you how worthy these are.
Discounts on restaurants partners (Don’t think it’s much worthy, never tried that, let me know if any of you have experience)
American Express is known for it’s best customer service and protection against fraud transactions.
I got reversal of the annual fees charges (Rs. 45000+tax) as well as I redeemed 24,000 points for Rs. 11,000 Amazon Shopping Credit.
Plus, you can earn one time 1000 bonus points on setting up a standing instruction. Check the details on the below link.
Drawbacks of Amex Gold Card
It is not accepted at all shopping places. That is the reason I use Amex for online transactions (for safety from fraud transactions and consistent bonus points).
For offline shopping, I prefer to use my favourite Standard Chartered Manhattan card.
American Express Gold Card Annual Fees
The card comes at first-year fees of 1000 rupees. Amex provides you 4000 bonus reward points for using card three times within 60 days of approval.
In this way, your first-year fee gets recovered.
Next year, you will get 5000 reward points for renewing the card.
I am not sure if I will renew my Amex Gold Card next year or not. I will talk to the customer care team if they can waive off annual charges or upgrade my Gold Card to Platinum Travel Card. I will share my experience with you.
Moreover, the bonus points are huge at present.
Plus the regular benefits and reward points are worth to stop by.
If you think that Amex is not a good card for you, then select one of the cards from my list of Best Credit Cards in India