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70,000
Points as welcome offer
Up to 4x
Points
$295
Annual fee
14.24% to 22.24%
Purchase APR (variable)
Annual fee | $295 |
---|---|
Welcome Offer | 70,000 points after spending $5,000 in the first 3 months |
Rewards | 4x points on two categories on up to $150,000 combined annually, then 1x points after that and on all other purchases |
Purchase APR | 14.24% to 22.24% variable |
Balance transfer APR | N/A |
Recommended minimum credit score | 670 |
Issuer | American Express |
Review by
Kevin Joey Chen is a credit cards, banking and investments writer whose work and analysis have appeared on CNN, U.S. News & World Report, Business.com, Lifehacker and CreditCards.com. He's passionate about helping you get your finances in order by expertly navigating cutting-edge financial tools — including credit cards, apps and budgeting software.
The American Express® Business Gold Card offers businesses some interesting flexibility, offering up to 4x points on your top two expenditures among Amex’s six category choices. A solid welcome offer of 70,000 Membership Rewards® points after you spend $5,000 within the first 3 months and no foreign transaction fees further distinguish this business card.
With these perks, you’d do well to consider the card’s steep $295 annual fee. You also need to pay off your entire balance each month or use the Pay Over Time option for eligible expenses.
If you’re OK with these caveats, you’ll find an interesting and flexible business card with strong travel perks and rewards for mid-sized businesses.
Because Amex automates conditional credit card approval online, you may get a decision on your application within 30 seconds. If there are issues with your application, it could take a few days to a few weeks to hear back.
After you’re approved, you’ll typically receive your card by mail within 10 business days.
You’ll have six options to receive accelerated rewards:
Because the American Express® Business Gold Card comes with no foreign transaction fees, it can be a good choice for vacations or business trips.
When you’re more than 100 miles from home, access the Global Assist Hotline for medical, financial, legal and other emergency assistance.
Finally, you’ll enjoy travel benefits while traveling by car. Call the Roadside Assistance Hotline from the road if you need help with towing, battery charges and more. And when you pay for a car rental with your American Express® Business Gold Card and decline the collision damage waiver, the vehicle is covered against damage or theft.
You can also access Amex Offers for extra rewards and discounts at select retail and dining partners.
This is a higher annual fee than many other business credit cards. Several business cards that offer a $0 intro annual fee charge annual fees of just $95 in your second year.
Redeem your Membership Rewards® points for a variety of rewards that include:
Membership Rewards® points tend to be the most valuable when redeemed for travel or transferred to frequent-traveler programs.
Before getting the American Express® Business Gold Card, weigh your potential rewards against the card’s high annual fee.
Giving each Membership Rewards® point an approximate value of 1 cent, you’ll need to earn 29,500 points to break even on a $295 annual fee.
Here’s how much you’ll need to spend to earn those points:
In your 4x-point categories | $7,375 |
In your 1x-point categories | $29,500 |
Consider whether your business spends heavily in the card’s 4x-point categories. If the answer is no, you may get more out of another rewards card.
Membership Rewards® points are often worth around 1 cent apiece if you redeem them for travel. However, they could be worth much more if you transfer them to some airline and hotel loyalty programs — sometimes over 2 cents each.
To apply for the card, you must be:
To complete the application, you’ll need to provide information about yourself and your business, including:
You’ll have a better chance of approval with a good to excellent credit score of 670 or higher. If you have a healthy business and excellent credit, your likelihood of approval is strong.
A few other factors that might affect your odds of approval:
American Express Company has been accredited with the Better Business Bureau since 1948 and earns an overall A+ rating as of October 2020. However, roughly 90% of its reviews are negative — and it’s attracted nearly 3,400 customer complaints. Amex cardholders in general complain about rude customer service reps, missing statement credits and issues disputing charges.
As of October 2020, the company earns a Trustpilot score of 2 out of 5. Many negative reviews cite unhelpful customer service and inflexible company policies. Positive reviews say the company employs pleasant customer service representatives. Overall, your mileage may vary with American Express customer support.
The American Express® Business Gold Card is best suited for businesses that can take advantage of the accelerated points categories. Strong rewards come with a decent welcome offer and travel benefits.
Before you apply for a credit card, consider other business cards to find one that best suits your business needs and spending.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
Images: AmericanExpress.com