The American Express Gold Ascent credit card is one of the very few Australian rewards credit cards which has absolutely no annual fee. The rewards aren’t as generous as with some other cards, particularly other Amex cards, but responsible cardholders have the chance to get rewards without having to pay any interest.

Benefit of the Card’s Best Features?

There is absolutely no annual fee with the American Express Gold Ascent credit card. Cardholders are also automatically enrolled in the Rewards Ascent program free of cost. If you want to double your points, you have the option of paying $80. It is nice that you have this option, but keep in mind you will have to spend at least $16,000 to make the yearly fee of $80 worth the points boost.

You will get 1 point for every $2 spent with your Amex Gold Ascent card. Earn unlimited points and they will never expire so long as your account is active. Points can be redeemed for a wide range of options including flights, hotels, travel packages, and gift cards.

American Express offers some nice standard services for their cardholders. You will have the option of using account management services including text messaging alerts for payments. American Express Gold Ascent cardholders get great customer service 24/7. The credit limit with this card is very flexible with a minimum limit of $2,000 and maximum limit of $25,000. You can have one free extra cardholder. As one of the leading credit card companies, you will get excellent fraud protection with American Express.

Are There Any Drawbacks?

As expected with a rewards credit card, the Gold Ascent purchase rate is steep at 20.74% p.a. You do get up to 44 days interest free, but most credit cards give you up to 55 days so you’ll have to hurry to pay your bill on time.

The cash advance rate of the American Express Gold Ascent credit card is also steep at – plus an immediate fee on the amount you take out. There are no interest free days for cash advances so you should avoid using this feature except in emergencies.

As there is no annual fee, the points aren’t so generous. It will take about $27,000 of spend to get just a $100 gift certificate. Airlines redeem points differently so the value changes. With Air New Zealand, you will have to spend $200 to get $1 towards a flight. American Express Gold Ascent card doesn’t have a fee for joining the rewards program. However, some of the airlines have membership fees you will have to pay if you want to redeem points with them. They usually also have point minimums that you’ll need to spend in order to get flight rewards.

For Australians, Amex may not be the best choice of credit card because it isn’t accepted as widely at home or abroad. Eligible purchases with American Express also tend to be more expensive.

Who is it Suited for?

This card is best for high spenders who always pay their bills in full on time. If this is you, then you can get rewards for your spending without having to pay any interest or annual fees.

Who is Eligible?

To be eligible for the American Express Gold Ascent card, you must be at least 18 years old, a permanent Australian resident or Australian citizen or have a Business Long Stay Visa, have good credit history with no defaulted payments, and a minimum income of $40,000. If you are self employed, then you must have been trading for a minimum of 18 months (12 months if you already have an American Express credit card).