American Express® Gold vs Bilt Obsidian
Side-by-side comparison
| American Express® Gold | Bilt Obsidian | |
|---|---|---|
| Annual fee | $325 | $95 |
| Welcome offer | $200 in Bilt Cash on account opening | |
| Dining | 4x | 3x |
| Groceries | 4x | 3x |
| Gas | 1x | 1x |
| Travel | 3x | 2x |
| Streaming | 1x | 1x |
| Everything else | 1x | 1x |
| Est. yearly rewards* | $598 | $490 |
| Points type | Transfers to airlines & hotels | Transfers to airlines & hotels |
| Network | Amex | Mastercard |
*Estimated yearly rewards on typical household spending, every point valued at a flat 1 cent. Verified August 2026. See your own numbers in the calculator.
Welcome bonus and value over time
| Over time | American Express® Gold | Bilt Obsidian |
|---|---|---|
| Welcome bonus | 100,000 Membership Rewards® Points | $200 in Bilt Cash on account opening |
| To earn it | $8,000 in 6 months | No minimum spend |
| Est. first-year value* | $1,697 | $895 |
| Est. ongoing value / yr* | $697 | $695 |
The American Express® Gold wins on both fronts: it comes out ahead in year one on the welcome offer and stays ahead every year after. Short term or long, it is the stronger pick on the numbers.
*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent.
Perks, credits, and redemptions
| Perks | American Express® Gold | Bilt Obsidian |
|---|---|---|
| Lounge access | None | None |
| Annual credits | ~$424/yr (4 credits) | ~$300/yr (2 credits) |
| Points & redemptions | Transferable to airline & hotel partners | Transferable to airline & hotel partners |
On perks and redemptions, the American Express® Gold carries the heavier credit stack (about $424 a year). Weigh those against the fee, since credits and lounge access only count if you will actually use them.
Transfer partners and point value
The American Express® Gold earns Amex Membership Rewards, which transfers to Delta, ANA, Air France-KLM Flying Blue, Virgin Atlantic, plus Hilton and Marriott. The Bilt Obsidian earns Bilt Rewards, reaching Alaska / Atmos, Air Canada, World of Hyatt, American Airlines, and Turkish. Most transfers are 1:1 on both, so the partners themselves, not the ratios, are what separate them.
The standout difference is the crown-jewel partner: for the American Express® Gold it is ANA and Virgin Atlantic, the routes behind the famous business- and first-class sweet spots to Asia; for the Bilt Obsidian it is Alaska and Hyatt, a rare pairing that covers both a top airline and a top hotel program. Pick the program whose best partners match the trips you would actually book.
One ratio note: on a few shared partners like Cathay Pacific and Emirates, Amex transfers at a slightly worse rate (5:4) than Citi, Capital One, and Bilt, which move 1:1, so those programs stretch a little further there.
The verdict
On a typical year of household spending, the American Express® Gold earns about $598 a year in rewards and the Bilt Obsidian about $490, valuing every point at a flat 1 cent. The American Express® Gold charges $325, but carries about $424 in annual statement credits that offset it for anyone who uses them. The Bilt Obsidian charges $95, but carries about $300 in annual statement credits that offset it for anyone who uses them. Counting rewards, fees, and any credits, the Bilt Obsidian delivers more total value, about $60 a year more for a typical spender, mostly because it skips the annual fee the other charges. Both earn transferable points rather than flat cash, so the deciding factor is whose transfer partners reach the airlines and hotels you would actually book. On the sign-up bonus, the American Express® Gold currently has the larger welcome offer (a limited-time offer above its usual amount, so treat it as a one-time boost). A welcome bonus is a one-time event, so weigh it apart from the ongoing rewards.
Pick the American Express® Gold if your spending leans toward dining, groceries, travel.