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American Express Gold Rewards Card Review

We review the American Express Gold Rewards Card, the credit card offering rewards points and annual dining credits.
​Updated 31 August​ 2026

Important: This guide was relaunched in August 2026. Every rate, fee and rewards figure was checked against each issuer's published terms. Issuers can change these at any time, so confirm the details on the issuer's site (linked under each card) before you apply. Report an error on this page - no name or email needed.
​Who Is The American Express Gold Card for?
  • The Gold Card is unique - we think it will appeal to city-dwellers looking for a points-earning card that has a bonus of statement credit when you dine out. In short, American Express offers one $100 statement credit every six months when you spend at least $100 at an eligible restaurant.
  • Our view is simple - if you need to evaluate in detail whether you'll use the card's dining benefits, this card is probably not for you. There are plenty of alternatives - we suggest looking at our best credit cards guide for more options.

Our View: We believe the card won’t suit the following people:
  1. Anyone spending less than $10,000 a year on a credit card and/or
  2. Those who don’t eat out at restaurants and spend $100+ per time doing so.

Our guide outlines the benefits, pros and cons and suggests typical cardholders. We cover:
To apply for an American Express Gold Rewards Card, you’ll need to be able to meet the following criteria:
  • Be aged 18 or over
  • Have no history of bad debt or payment default
  • Have the right to work in New Zealand, and
  • If self-employed, have been trading for at least 18 months (or 12 months if you hold an existing American Express issued Card)

Why is there so much Amex on this page?
  • It's a review of one Amex card. American Express pays MoneyHub a referral fee when a reader applies through the links on this page; the fee doesn't set the figures (they're from Amex's published terms) and doesn't change who we say shouldn't get the card.
  • Please see our Advertising Policy for more details about how we make money.

MoneyHub Founder Christopher Walsh shares his views about the American Express Gold Card:

"No other mass-market credit card offers refunds for spending in specific restaurants, but the American Express Gold Rewards Card does just that. However, whether the card is right for you depends on how much you spend and whether you'd eat at the partner restaurants in the first place. 

I believe that if you spend at least $20,000 on a credit card and eat at the restaurants American Express partners with, the benefits are arguably valuable and unique. If you add in the option of dining at a First Table restaurant (see below), you can effectively get $200 of food orders for free per visit.

While the $200 annual card fee is more expensive than the arguably excellent-value American Express Airpoints Platinum card, not everyone wants to earn Airpoints. This Gold card lets cardholders redeem points they earn for statement credit at a fair rate.

If you're hesitating on whether this card is for you, it really comes down to whether or not you'll use the $200 dining credit. If you don't, there are plenty of other rewards credit cards".

The video below explains the card in detail, and gives further background to the pros and cons:
MoneyHub Founder
Christopher Walsh

Know This First - Annual Fee and Membership Rewards

1. The Gold Card's Welcome Bonus and Annual Fee

  • Annual fee: $200, billed annually
  • Annual percentage interest rate: 22.95% p.a.
  • Bonus offer: $200 statement credit when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.
  • Earn Membership Rewards: The Gold Card earns at a rate of 2 points for every $1 spent. You can use Membership Rewards points to pay for travel with American Express directly, or you can convert them to other airline and hotel programmes. As a background, 150 Membership Rewards points = 1 Air New Zealand Airpoints while 2 Membership Rewards points = 1 Qantas Frequent Flyer Point.

2. Redeeming Membership Points

What point value will I earn? This is best explained with an example:
  • If you spend $25,000 (about $2,000 a month) on the card in one year, you will earn 50,000 Membership Rewards points.
  • 50,000 points translate to around 333 Airpoints or 25,000 Qantas Frequent Flyer points (which arguably doesn't get you too much).
  • If you use the points with American Express, you'll earn around $375 of travel credit.
  • Otherwise, a $250 credit on your card costs 52,000 Membership Rewards points.
  • The benefits you receive will depend on your travel preferences and how you redeem the points.

The Gold Card - Benefits in Detail

1. Welcome Bonus - $200 statement credit

Bonus offer: $200 statement credit when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.

Our view: The sign-up bonus is generous and helps absorb more than the annual fee. Importantly, the bonus is a one-off benefit and won't be offered on your card renewal.

2. Two $100 dining credits every year

American Express has a number of dining partners throughout New Zealand. If you visit them and spend over $100 on one bill, you’ll get $100 credited to your statement; one credit per half-year (January to June, July to December). The participating restaurants are located all over New Zealand, although Auckland, Wellington and Queenstown have the widest choices.

Our view: The offer is simple - spend $100+ at a qualifying restaurant (in one transaction) and get $100 back on your credit card statement, up to twice a year. We like this add-on benefit and interpret it as two free dinners.

3. Rewards generated for spending

Cardholders earn 2 Membership Rewards Points per NZ$1 spent. This means that an annual card spend of around $25,000 will earn 50,000 Membership Rewards Points. This can be converted to 333 Airpoints, $375 of travel credit (bookable via American Express Travel) or around $240 of statement credit (a $250 credit costs 52,000 points).

Our view: If you would usually spend around $25,000 a year on a credit card, cardholders will receive around $500 of value ($200 dining credit and $300+ Airpoints or travel-related credit), which offsets the $200 annual fee. However, if you're a light spender and don't plan to use the card often, this option may not be the most cost-efficient.

4. Free Domestic and International Travel Insurance

As a cardholder of the American Express Gold Rewards Card, you can enjoy free travel insurance for both domestic and international trips. You'll need to use your card to pay for your return trip to be eligible for this benefit, and as with any travel insurance policy there are limits and exclusions.

Coverage Limits: You and your family have coverage for medical emergencies up to $2.5 million, trip cancellation for up to $30,000, and lost baggage or documents for up to $30,000.

5. Chargebacks from fraudulent transactions

You’ll also be protected against fraudulent transactions made using your Card details with the American Express Fraud Protection Guarantee. In our chargeback research, Amex's direct process was the simplest to deal with.

6. Ongoing Cashback offers

​Beyond the standard benefits, a MoneyHub user highlights ongoing cashback promotions:
"One great benefit I've noticed with AMEX is their regular cashback promotions. Over the past six months, I've received $75 in cashback - $25 from a Shop Small promotion (5 x $5 credits) and $50 from a Sony/AMEX promotion. While it's not massive, it helps offset the annual fee. The key is to register for each promotion as they become available, which I've made a habit of doing. It's a nice surprise when those small credits appear on your statement".

Pros and Cons

Pros:
  1. When the fee is covered: at 2 points per $1, the points alone cover the $200 fee at around $15,000 of annual spending if you redeem as Airpoints (150 points = 1 Airpoint, about $1.33 per $100 spent), or around $21,000 if you take statement credit (about $0.96 per $100). Use both $100 dining credits and the fee is covered before the points are counted - but only if you'd eat at those restaurants anyway. Below $10,000 a year, the card is unlikely to pay its way.
  2. Bonus offer: $200 statement credit when you apply online, are approved and spend $1,500 on your new Card within the first 3 months. New Card Members only.
  3. Two $100 dining credits every year (and a way to save further) - If you spend at least $100 in one transaction at a participating restaurant, you'll receive $100 back on your card. If you want to save further, many of the restaurants listed also participate in First Table which offers 50% off food at set times for a $5 to $10 fee per booking. This means you could order $200+ of food, have the 50% discount applied by the restaurant when you pay the bill, pay $100 and then redeem the $100 statement credit.
  4. Favourable Customer Dispute Terms - Disputes and fraud are handled by Amex directly rather than through a bank - our guide to chargebacks explains why that matters.
  5. Cards are increasingly accepted at major New Zealand retailers - You can use your card at Woolworths, New World, PAK'nSAVE and other supermarkets. Other retailers include most petrol stations, rental car, hotel and airline websites.
 
Cons:
  • A number of non-chain retailers don’t accept American Express as a payment method so you may need a backup credit card.​
  • A 2.50% Currency Conversion Commission applies to all American Express NZ credit cards - the highest of the majors. ANZ charges 0% on its personal credit cards, Westpac 1.83% and BNZ 2.25%. If nearly all your spending is in New Zealand dollars it won't matter; if you travel a lot, you'll pay more than you would on any other card - see our foreign fees comparison.

How Does the American Express Gold Rewards Card Work in New Zealand?

Acceptance is the main practical question with any Amex card - most supermarkets, fuel chains and online retailers take it; some independents don't. Our Where is Amex accepted? guide covers it.

Considering another AMEX card? Our guide to the Best American Express Credit Cards has more information about the cards available.
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