Can the American Express Gold Card Be Your Only Credit Card? A Complete Analysis
Introduction
Are you looking to simplify your wallet with just one credit card? Perhaps you're tired of juggling multiple cards or want to recommend a single card solution to a partner who prefers simplicity. The American Express Gold Card is often celebrated for its impressive rewards on food purchases, but can it truly stand alone as your only credit card? Let's dive into a comprehensive analysis to find out.
The American Express Gold Card: An Overview
The Amex Gold Card comes with a $325 annual fee but offers several valuable credits that can offset this cost:
$120 dining credit that comes in $10 monthly increments
$120 Uber/Uber Eats credit that comes in $10 monthly increments
$100 Resy credit
$84 in Dunkin' credits annually
More importantly, the card offers impressive earning rates:
4X Membership Rewards points on dining purchases
4X points on grocery store purchases (excluding superstores like Walmart and Target)
1X points on all other purchases
Testing the Gold Card as a One-Card Solution
To determine if the Gold Card can be effective as your only card, let's analyze a real-world monthly budget:
Dining: $1,000
Groceries: $800
Bills: $1,200
Subscriptions: $60
Miscellaneous shopping: $500
With this spending profile, here's what you'd earn monthly with the Gold Card:
Groceries: 3,200 points (800 × 4)
Dining: 4,000 points (1,000 × 4)
Everything else: 1,760 points (1,760 × 1)
Total: 8,960 Membership Rewards points per month
That's an impressive haul for a single card, especially for food-heavy budgets.
Comparing Alternative One-Card Solutions
Capital One SavorOne Card ("The Rural Gold Card")
With no annual fee, the Capital One SavorOne offers:
3% cash back on dining, entertainment, and groceries
3% on select streaming services
1% on everything else
This cash back can be converted to transferable miles if you also have a Venture, Venture One, or Venture X card.
Monthly earnings with the same budget:
Groceries: 2,400 points (800 × 3)
Dining: 3,000 points (1,000 × 3)
Entertainment/streaming: 180 points (60 × 3)
Everything else: 1,700 points (1,700 × 1)
Total: 7,280 points per month
While less than the Gold Card, it's still impressive for a no-annual-fee card.
"Catch-All" Cards (2X on Everything)
Cards like the American Express Blue Business Plus, Capital One Venture, or Capital One Venture X offer a flat earning rate on all purchases.
Monthly earnings with a 2X catch-all card:
All spending: 7,120 points (3,560 × 2)
Total: 7,120 points per month
This approach comes surprisingly close to the SavorOne's earnings without category restrictions.
Maximizing with a Two-Card Setup
For comparison, pairing the Gold Card with the Blue Business Plus would yield:
Gold Card (for dining and groceries): 7,200 points
Blue Business Plus (for everything else at 2X): 3,520 points
Total: 10,720 points per month
While this two-card strategy earns approximately 1,760 more points monthly than the Gold Card alone, the simplicity of a single card may outweigh this difference for many users.
Conclusion: Is the Gold Card Enough?
For those with food-heavy budgets, particularly people living in urban areas with abundant dining options, the American Express Gold Card can absolutely work as a one-card solution. It significantly outperforms other single-card options for this spending profile, especially when you factor in the annual credits that help offset the annual fee.
However, your personal spending patterns matter. If your budget includes more shopping, bills, or other non-food expenses, you might be better served by a catch-all card or a simple two-card strategy.
Ultimately, the Gold Card earns like few others in the game for food purchases, making it a strong contender for your wallet's only slot—provided your lifestyle aligns with its strengths.
What do you think? Could the Amex Gold Card work as your only credit card? Share your thoughts in the comments!