Strong rewards for business purchases in the right categories may outweigh a higher-than-average annual fee.
30-second take
- Get this card if your business spends significantly in the card’s 4x points categories.
- Pick something else if you want cash back or don’t want a high annual fee.
- Apply with a good to excellent credit score of 670 or higher.
| Product Name | American Express® Business Gold Card |
|---|---|
| Card Type | American Express |
| Annual Fee | $295 |
| APR (Annual Percentage Rate) for Purchases | 16.24%, 20.24% or 24.24% variable |
| Foreign Transaction Fee | None |
| Late Payment Fee | $38 |
| Returned Payment Fee | $38 |
| Additional Cardholder Fee | $0 |
| Rates & Fees | Rates & Fees |
| Minimum Age | 18 years of age |
|---|
| Reward Value per Dollar | 1x points |
|---|
The basics
Curious whether the American Express® Business Gold Card is a good choice for you? Take a look at the card’s bonus categories. If your business spends a lot there, you could earn significant rewards.
Also consider the card’s steep $295 annual fee. It’s also a charge card, meaning you need to pay off your entire balance each month or use the Pay Over Time option for eligible expenses.
If you’re OK with that, you’ll find a card with strong travel perks and rewards redeemable for travel, point transfers and more.
What can I redeem Membership Rewards® points for?
Redeem your Membership Rewards® points for a variety of rewards that include:
- Gift cards.
- Travel.
- Statement credit.
- Experiences and retail products.
- Points transfers to such frequent-traveler programs as Air France and KLM Flying Blue and Starwood Preferred Guest.
- Merchandise and services at Amazon, Staples, Grubhub, Expedia and other American Express partners.
Membership Rewards® points tend to be the most valuable when redeemed for travel or transferred to frequent-traveler programs.
The perks
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Welcome offer: G Suite and ZipRecruiter statement credits.
When you use your card for purchases on G Suite and ZipRecruiter in the first 12 months from account opening, you can earn statement credits up to $200 on G Suite and $2,988 on ZipRecruiter. You’ll also get up to one year of complimentary membership on these two services.
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Rewards: Up to 4x points.
Earn 4x points in two categories among American Express’s six options on up to $150,000 in combined purchases each year. After you reach that cap, your rewards rate reverts to 1x points in those categories. You’ll also earn 1x points on all other eligible purchases.
Rewards categories for the Business Gold Rewards Card from American Express
Choose one bonus-reward category from six options to receive accelerated rewards:- Airfare purchased directly from airlines
- US purchases for advertising in select media
- US purchases at restaurants
- US purchases at gas stations
- US purchases for shipping
- US computer hardware, software and cloud computing purchases directly from select providers
You’ll also like
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Expense management tools.
Add employee cards to your account, designate a person to manage your credit card account and use Spend Manager℠ to add digital notes to your transactions via mobile or desktop. You can also label and transfer your transactions from your American Express online statements into your QuickBooks account. These can be useful features for a business owner, especially if you make many monthly purchases.
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No foreign transaction fees.
You won’t incur fees when you use your card abroad or on foreign websites. Typically, providers charge a 3% fee each time you use your card for an international transaction. It doesn’t sound like much, but it can add up over a trip spanning several days.
Because the American Express® Business Gold Card comes with no foreign transaction fees, it can be a good choice for vacations or business trips.
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Travel benefits.
When you purchase the entire fare of your eligible transportation ticket with your American Express® Business Gold Card, you’re covered by American Express’s Baggage Insurance Plan. The plan insures your bags against theft, damage or accidental loss according to American Express’s terms. You’re also covered by Travel Accident Insurance, which provides accidental death and dismemberment coverage on eligible transportation.
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.
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Purchase benefits.
The card extends warranties on eligible items you buy with your card. And with Purchase Protection, your eligible items may be covered against damage or theft.
You can also access Amex Offers for extra rewards and discounts at select retail and dining partners.
What to watch out for
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Annual fee: $295 annual fee.
The American Express® Business Gold Card has a steep $295 annual fee.
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.
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No balance transfers.
American Express does not allow balance transfers for this card. However, many business credit cards do allow you to transfer balances, such as the Blue Business℠ Plus Credit Card and Delta Reserve® Credit Card from American Express.
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Penalty fees.
For each late payment, you’ll incur a fee of $38 or 2.99% of any past-due amount, whichever is greater. For each returned payment, you’ll pay a fee of $38.
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Consider other cards if …
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Your business spending is concentrated in specific categories.
Other cards offer better rewards for various types of spending. For example, the Ink Business Preferred℠ Credit Card offers 3x points in categories like travel as well as Internet, cable and phone services for the first $150,000 in combined purchases, reverting to 1x points after.
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You want cash back.
Look into the Ink Business Cash℠ Credit Card and Capital One® Spark® Cash Business, which offer lucrative cash back.
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You don’t want to pay an annual fee.
Great no-annual-fee business cards include the Ink Business Preferred℠ Credit Card, SimplyCash® Plus Business Credit Card and Capital One® Spark® Miles Select for Business.
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You want an intro APR.
Excellent choices include the Blue Business℠ Plus Credit Card and Ink Business Cash℠ Credit Card, which offer market-leading intro APR promotions.
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You want the same rewards rate for all purchases.
Consider the Capital One® Spark® Cash Business or Capital One Spark® Cash Select for Business, which offer flat cash back. If you want a flat rate on travel rewards, try the Capital One Spark® Miles for Business or Capital One Spark® Miles Select for Business.
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You want to carry balances over time.
This is a charge card that requires you to pay for purchases under $100 in full each month. If eligible, you may be able to opt for the Pay Over Time option for larger purchases. If that cramps your style, consider another business card. You can find solid rewards with a business card that lets you carry a balance from month to month.
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What size business is the American Express® Business Gold Card good for?
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.
Your Membership Rewards® points can be worth more for transfers to select airline and hotel partners
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.
What should I know before I apply?
To apply for the card, you must be:
- At least 18 years old.
- A US resident.
Information you’ll need
To complete the application, you’ll need to provide information about yourself and your business, including:
- Your name and contact information, including your email address and phone number.
- Your Social Security number and date of birth.
- Financial information like your annual income and your monthly rent or mortgage.
- The name of your business, its mailing address and its phone number.
- Your employee count, business type and business structure.
- Your years in business, annual business revenue and monthly business spending.
- Your tax identification number.
What credit score do I need?
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:
- Hard pulls on your credit report. If you have several hard inquiries — or hard pulls — on your report, it could imply you’re having trouble managing your debt. American Express might think you’re desperate for credit and may be less likely to take you on as a customer.
- Factors that tie into your credit score. Your credit utilization is a major factor American Express considers. The bank prefers a customer with low balances relative to their credit limit. Having many new card accounts may be a red flag too, as it could indicate you’re desperate for credit. It may also give the impression that you’re a flighty customer who’s just hunting for welcome offers.
What do customers say about the American Express® Business Gold Card?
American Express Company has been accredited with the Better Business Bureau since 1948 and earns an overall A+ rating. However, as of this writing, 90% of its reviews are negative — and it’s attracted nearly 3,000 customer complaints. Amex cardholders in general complain about rude customer service reps, missing statement credits and issues disputing charges.
The company earns a Trustpilot score of 3 out of 10. 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.
How to apply for the American Express® Business Gold Card
- On the American Express website, click Apply Now.
- Complete the application with details like your name, address, annual income, Social Security number and business information.
- Review and submit your application.
How long will it take to get my American Express® Business Gold Card?
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.
I got the card. Now what?
- Make payments on time. Register an account on the American Express website to pay your balance online. You can also enroll in autopay.
- Avoid fees. You’ll pay high fees for late and returned payments with this charge card.
- Get help. Help documents aren’t easily accessible on the American Express website, but you can call 1-800-528-4800 for support.
Bottom line
The American Express® Business Gold Card is best suited for businesses that can take advantage of the 4x- 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.
Frequently asked questions
Disclaimer
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
