American Express® Business Gold Card Review 2024
Discover the strengths and weaknesses of the American Express® Business Gold Card and see if it’s the right choice for your business.
Introduction to the American Express® Business Gold Card
The American Express® Business Gold Card is designed for small to medium-sized businesses that have significant monthly expenses. This card stands out due to its flexible rewards structure, which adapts to your business’s spending habits.
Key Features and Benefits
Reward Structure
The American Express® Business Gold Card offers a dynamic rewards system:
- 4X Membership Rewards® points on the two categories where your business spends the most each billing cycle from six eligible categories.
- 3X points on flights and prepaid hotels booked via amextravel.com.
- 1X points on all other purchases.
Eligible Categories
The card adjusts to your spending habits, rewarding you the most in the areas you spend the most. The six eligible categories include:
- Airfare purchased directly from airlines
- Advertising in select media (online, TV, radio)
- Gas stations
- Restaurants
- Shipping
- Computer hardware, software, and cloud computing purchases
Welcome Offer
New cardholders can earn 70,000 Membership Rewards® points after spending $10,000 on eligible purchases within the first three months of card membership.
Annual Fee
The annual fee for the American Express® Business Gold Card is $375. While this may seem steep, the rewards and benefits can easily offset this cost if used strategically.
Additional Benefits
- No foreign transaction fees
- Extended warranty protection
- Purchase protection
- Car rental loss and damage insurance
Reward Rates and Categories
| Category | Reward Rate |
|---|---|
| Top 2 spending categories (from eligible 6) | 4X Membership Rewards® points |
| Flights and prepaid hotels via Amex Travel | 3X Membership Rewards® points |
| All other purchases | 1X Membership Rewards® points |
The flexibility of earning 4X points on the top two spending categories each billing cycle makes this card particularly advantageous for businesses with varying expenses.
Welcome Offer and Annual Fee
Welcome Offer
The 70,000 Membership Rewards® points welcome offer is a significant draw for new cardholders. To qualify, you need to spend $10,000 on eligible purchases within the first three months of opening your account.
Annual Fee
At $375, the annual fee is justified through the various rewards and benefits, especially for businesses with high monthly expenses in the eligible categories.
APR and Credit Requirements
APR
- Ongoing Purchase APR: Variable, ranging from 19.49% to 28.49%.
- Ongoing Penalty APR: 29.99% variable.
Credit Requirements
To qualify for the American Express® Business Gold Card, you’ll need a credit score ranging from 670 to 850, categorizing it under excellent/good credit.
Pros and Cons
Pros
- Flexible Rewards: Earn 4X points on top spending categories.
- Generous Welcome Offer: 70,000 points with a $10,000 spend in three months.
- Travel Benefits: No foreign transaction fees and strong travel perks.
- Purchase Protections: Extensive purchase and travel protection benefits.
Cons
- High Annual Fee: $375, which may not be justifiable for smaller businesses.
- Spending Requirement: Must spend $10,000 in the first three months to qualify for the welcome offer.
- Complex Reward Structure: The changing top categories can be difficult to track.
FAQs
1. What is the annual fee for the American Express® Business Gold Card?
The annual fee is $375.
2. How do I earn the 70,000 Membership Rewards® points welcome offer?
You need to spend $10,000 on eligible purchases within the first three months of card membership.
3. What are the eligible categories for earning 4X points?
The eligible categories include airfare, advertising, gas stations, restaurants, shipping, and computer hardware/software/cloud computing purchases.
4. Are there any foreign transaction fees?
No, the American Express® Business Gold Card does not charge foreign transaction fees.
5. What is the variable APR for ongoing purchases?
The variable APR ranges from 19.49% to 28.49%, depending on your creditworthiness.
6. Is this card suitable for small businesses?
The card is best suited for businesses with significant monthly expenses in the eligible categories. Smaller businesses with lower spending may find the $375 annual fee challenging to justify.
7. What credit score do I need to apply for this card?
You need a credit score ranging from 670 to 850, indicating excellent to good credit.
The Bottom Line
The American Express® Business Gold Card offers a robust rewards system, especially beneficial for businesses with substantial spending in the top eligible categories. While the $375 annual fee may seem high, the rewards and benefits can quickly offset this cost if used strategically. For businesses that can meet the spending requirements, the 70,000 Membership Rewards® points welcome offer is a significant advantage.
For more detailed information and to apply for the card, visit American Express and explore their offerings. If you’re looking for a card that adapts to your business’s spending habits while providing valuable rewards and protections, the American Express® Business Gold Card is worth considering.
For internal links related to business financial tips and other card reviews, visit www.abeut.com.
