Today, American Express announced that Premier Rewards Gold cardholders will loose the annual 15,000 Membership Rewards points bonus for spending 30,000 in a calendar year effective in 2015.
In a statement from American Express:
We are eliminating this because the majority of Premier Rewards Gold Card Members did not meet the annual spending threshold of $30,000 and did not get the point bonus. Instead, we are evaluating other benefits and services that we believe may provide value to more of our Premier Rewards Gold Card Members.
For those of you still completing the $30,000 spend in 2014, you will still receive your 15,000 point bonus. However, effective January, this benefit will go away.
While American Express hasn’t announced the other benefits and services it may be providing to compensate for this loss, I do consider this a major loss to this card type, because before it effectively waived the annual fee. The card comes with a $175 annual fee, and earns 3x on airfares purchased directly with the airline, 2x on gas and groceries and 1x on everything else.
I currently have this card, but with the removal of the annual point bonus, I will be canceling this card at the end of the month.
This will still leave me with multiple Amex cards to choose from, however:
- Platinum Card
- “Old” Blue Cash
- Starwood Preferred Guest
- Delta Reserve
- Amex Everyday Preferred
Do you have the American Express Premier Rewards Gold Card? Will you be canceling it because of the annual point loss?
Looking for the best way to earn miles and points quickly? Visit the "Credit Cards" drop down on the main menu bar above for the hottest deals! Want to learn more and stay up to date on the latest tips, tricks and deals? Join My Travel Tips Facebook Page! This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.