Best American Express Credit Cards for June 2024 | Bankrate (2024)

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American Express® Gold Card

American Express, also known as Amex, is both a payment processing network and a credit card issuer, meaning that Amex issues credit cards to consumers and facilitates transactions with merchants through its network.Payment networks, which include Visa, Mastercard, Discover and American Express, make money by taking a small cut of each transaction they process.

Many, but not all, American Express credit cards are both issued by American Express and part of the American Express payment network. The company offers cards for consumers, travelers, small businesses and corporations. American Express also offers other financial products and services including savings accounts and certificates of deposit (CDs). The J.D. Power 2023 Credit Card Satisfaction Study ranked American Express first in customer satisfaction among credit card issuers.

American Express is one of the most recognizable names in the world of personal finance, and this is reflected in conversations among users in the r/CreditCards subreddit.

Amex cards come up often in conversations about the best cards for cash back, travel and rewards. But the general consensus among users is that you need to research your decision carefully and choose a rewards style that matches your spending and redemption habits.

It’ll be important to distinguish between points or cash back early in your search for a new card and to avoid choosing the card with the biggest rewards rate without a redemption plan in place. One user* in r/CreditCards argues Amex cash back cards are less appealing since they carry lower-value rewards.

“The [Blue Cash Everyday] is not on the same level as the [Amex Gold Card] or [Platinum Card from American Express] due to it being cash back.”

This may be true for some users, but it could come down to which redemption method you choose and your reward redemption value. If you redeem points at a value of at least 1.6 cents each, the Amex Gold card’s 4X rewards rate at U.S. supermarkets (up to $25,000 per calendar year, then 1X) can carry more value than the 6 percent cash back rate you’ll earn on the Blue Cash Preferred (on your first $6,000 in spending at U.S. supermarkets per year, then 1 percent). But if you redeem them for a lower point value, the Amex Gold will be less lucrative than the Blue Cash Preferred.

Another user points out* that “it’s important to know if you want points or cash back. And how you intend to use points if you go that route. [Earning 4X points] on groceries sounds great, but if [the points] are worth less than a cent each by [redeeming them] as a statement credit, then you’re looking closer to 2 [percent] cashback.”

If you plan to redeem your Membership Rewards points for statement credits, you might be better served with one of the Blue Cash cards because you could earn generous cash back at a lower cost.

*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Be sure to check the issuer's website/terms and conditions for all up to date content. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.

Our data: How high does your credit score need to be for an Amex card?

If you find an Amex card that matches your credit card needs, you’ll want to make the most of it, especially if it has a hefty annual fee. Here are some ways to capitalize on a new American Express card:

• Earn your welcome offer: Amex welcome offers can be very generous. Since Membership Rewards points are so flexible, a welcome offer can be worth much more than its base 1-cent-per-point value. For instance, the American Express Gold Card has a welcome offer of 60,000 points for spending $6,000 on eligible purchases in your first six months with the card. The base value of this offer is $600, but it can be worth up to $1,200 with the right Amex transfer partner.
• Learn about Membership Rewards: Not all American Express cards earn Amex Membership Rewards. But if they do, using their points can be a great way to maximize your rewards, especially if you transfer them to travel partners. The more you understand Amex Membership Rewards and the perks that come with your card, the more prepared you’ll be to maximize your card’s value.
• Use perks and credits: Several Amex cards have valuable perks that can nearly offset their annual fees, ranging from dining and streaming service credits to airport security screening credits and lounge access. Make sure to lean into these perks to get the full value of your Amex card. Be mindful that some are available only for a limited time, so make sure you’ll use them within the timeframe.

Learn more:Best ways to spend American Express points

Why this Bankrate writer loves his Amex credit cards

Here’s what Bankrate writer Ryan Flanigan had to say about his experience with Amex cards:

"Amex is my favorite issuer. Its cards cover everything you need and I like having multiple Amex cards.

Its hotel co-branded cards offer great perks like free night certificates that I can use to get outsized value when I travel to luxury properties. All of my Membership Rewards cards work together like a finely tuned machine that covers all the major bonus categories and earns tons of points every year. And the flexibility to either book travel through its portal or transfer to a very generous list of transfer partners gives me a ton of options when planning where to go.

Lastly, Amex gives me a lot of useful credits on all sorts of things like travel, shopping and business expenses, which is extra value toward offsetting annual fees. I'll always have as many Amex cards as I'm allowed to have since these cards reward me the most overall."

— Ryan Flanigan, Writer, Credit Cards

Are American Express cards worth it?

American Express cards are worth it as long as you pick the one that fits your lifestyle best and take advantage of the additional perks. Some cards are better for people who want simple rewards and others are great for those who make the most of every perk, feature, boosted rewards rate and bonus.

In addition, if you like the general benefits that come with American Express, such as American Express Experiences or Amex Offers, you’re more likely to take advantage of the card beyond earning rewards.

What’s important is that your Amex card is useful to you rather than hindering you from reaching your goals.

When evaluating the best American Express cards, we consider a mix of factors, including how cards score in our proprietary card rating system and whether cards offer features that fit the priorities of a diverse group of cardholders, from earning rewards in popular categories to scoring a large welcome offeror high-value perks. Whenever possible, we also feature cards that are available at various credit levels and price points.

We analyzed over 150 of the most popular cards and scored each based on its rewards rate, estimated annual earnings, welcome offer value, APR, fees, perks and more to determine whether it belonged in this month’s roundup of the best American Express cards.

Here are some of the key factors that we considered:

Have more questions for our credit cards editors? Feel free to send us an email, find us on Facebook, or Tweet us @Bankrate.