Fee is waived for the first year, and if you want to put on an AU (up to 5), they're free too on the Rewards Plus. I figure AmEx has a year to show me that the fee for next year is worth it!
BTW, if you do, go for the Rewards Plus. A much better deal than the straight Gold Preferred Rewards. I don't know why they even have the straight Gold.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007