The American Express Preferred Rewards Gold Card is one of the best Rewards cards on the market, and is a great option for those who don’t plan on carrying a revolving balance. This product also comes with an enticing sign-up bonus: You’ll earn 10,000 Membership Rewards bonus points when you spend $500 in 3 months – redeemable for a $100 gift card!

What we like about it:

• Comprehensive Rewards program. Earn 1 Membership Rewards point for virtually every dollar you spend and redeem for your choice of travel, shopping, and entertainment rewards.

• Points are transferable. You can shift your points into 17 different frequent flyer programs — 1 point for 1 airline mile with most programs.

• Platinum features. As well as the usual fraud and purchase protection, this card has a number of other ‘bells and whistles’ that could really come in handy – especially if you’re a frequent traveller. Some of the benefits: Return and purchase protection, extended warranty for purchases, auto rental, lost luggage, and travel accident insurance, medical and legal referral services, emergency cash/card replacement, and guaranteed hotel reservations.

• No Annual Fee for the first year.

• Great Signup Bonus. You get 10,000 points when you spend $500 in 3 months. These can be traded in for a $100 gift card at various places like The Gap or Home Depot, or put it towards a flight on up to 17 different airlines.

What we don’t like about it:

• $125 Annual Fee after the first year

Conclusion:

Those who plan to pay their bills on time and in full every month should definitely consider this card. The $100 (or 10,000 mile) sign up bonus is appealing, as are the extensive Platinum features. The Rewards Program will be of particular interest to regular travellers.

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