Why I Canceled My Amex Gold Card After 3 Years

I’m a big fan of using credit cards to earn rewards. When I first added the American Express® Gold Card to my wallet, I was excited to get rewarded for all the dining purchases I make every month. However, some of this card’s perks became less valuable due to inflation, so I canceled the card after three years. Keep reading to learn why the Amex Gold Card is no longer a good fit for me. 

Some card benefits have become less valuable  

One of the benefits included with the American Express® Gold Card is $10 Uber Cash, which is available each month. You can use Uber Cash to pay for Uber Eats orders or Uber rides in the United States (terms apply). These perks make the Amex Gold Card worth considering for anyone who uses these services often. 

I use Uber for rides when traveling, but only occasionally. I placed Uber Eats orders monthly, so my Uber Cash benefit didn’t go to waste. But unfortunately, the longer I had this card, the more difficult it was to use this perk. I found that over time most eateries on Uber Eats jacked up their menu prices well above the usual off-platform price. 

Higher menu prices, delivery fees, and service fees made it nearly impossible to find something cheap enough to order using my Uber Cash without spending additional money. It was even a challenge when I placed pickup orders to save money on delivery fees. 

Here’s another perk that no longer served me: Cardholders can earn up to $10 in statement credits monthly when they pay with their American Express® Gold Card at Grubhub, Goldbelly, The Cheesecake Factory, Wine.com, Milk Bar, and select Shake Shack locations. Terms apply. Enrollment required. 

Since most of these businesses weren’t local to me, placing Grubhub orders was the best option. Again, I found restaurants hiked their in-app menu prices due to inflation. So, I had to spend money every time I wanted to earn a $10 statement credit. I prefer ordering directly from eateries, so using this perk became more of a chore. 

Don’t continue to keep a credit card that doesn’t meet your needs 

Remember, you don’t have to keep a credit card forever. If your card no longer meets your needs, it may be time to explore other options. Once I realized the Amex Gold Card was no longer providing me the same value it once did, I knew it was time to cancel it. 

Reviewing your card benefits and usage at least once a year is essential to determine if it’s still worth keeping. This is especially important if you’re paying an annual fee for your card. You don’t want to spend money on benefits you’re not using or don’t enjoy using. 

Review all card benefits before getting a new credit card 

Before getting a credit card, research the benefits provided. You want to feel confident that you understand how the perks work and ensure they’re benefits you value and will use. 

I suggest that anyone who already uses apps like Uber, Uber Eats, or Grubhub consider the Amex Gold Card. However, there may be better dining rewards cards that fit your needs and goals. There are many other options, including cards that earn cash back. 

Learn more about how you can earn cash back rewards when you swipe your card by reviewing our list of the best cash back credit cards. 

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