American Express Business Gold Card Review

Unleash your business’s earning potential with the American Express Business Gold Card! Jumpstart your rewards with a whopping 70,000 Membership Rewards points welcome bonus after spending $10,000 in the first three months. But the rewards don’t stop there. Earn 4x points on your top spending categories, 3x points on flights and hotels, and 1x points on everything else. All this for an annual fee of $375.

Quick Highlights

Intro Bonus

• 70,000 bonus points: Spend $10,000 in the first three months.
• 4X points: On your top 2 spending categories (flights, hotels, restaurants, shipping, advertising, utilities) – up to $150,000 annually.
• 3X points: On flights & hotels booked on amextravel.com.

Monthly Savings

• Up to $240: In-statement credits at FedEx, GrubHub, and office supply stores.
• $12.95 back: On your monthly Walmart+ membership.

Bonus Perks

• Choose your card color: Gold or Rose Gold.

Remember: Terms apply.

American Express Business Gold Card Rewards and Benefits

• 4x points per dollar on your top 2 spending categories (out of 6) each month, up to $150,000 annually.
• 3x points per dollar on flights and prepaid hotels booked on AmexTravel.com.
• 1x point per dollar on all other purchases.
• The top 2 spending categories change monthly based on your usage.
• The $ 150,000 cap applies to 4x points earned across both categories combined.
• Terms and conditions apply.

Rates and fees

• Purchase APR: 19.49%–27.49% variable (for Pay Over Time transactions)
• Penalty APR: 29.99% (Prime Rate)
• Paying Interest: Your due date is at least 25 days after the close of each billing period.
• Annual fee: $375
• Late Payment: $39 or 2.99% of any past due Pay in Full amount, whichever is greater.
• Returned Payment: $39
• Foreign transaction fee: 0%

American Express Business Gold Card Features and Benefits

Spending and Management

• Pay over Time: Carry a balance with interest on eligible purchases.
• No Preset Spending Limit: Flexible spending limit based on your creditworthiness.
• Year-End Summary: Online tool for easy expense management.
• Employee Cards: Manage employee spending with limits and real-time alerts.
• Connect to QuickBooks: Automatic expense categorization for seamless accounting.
• Vendor Pay by Bill.com: Enhance cash flow by paying bills with your card.
• Account Manager: Delegate tasks to a trusted team member.
• Account Alerts: Stay informed about payments, spending, and employee card usage.
• Online Statements: Track purchases, prepare reports, and budget expenses.
• American Express App: Manage accounts, track rewards, find airport lounges, and make payments.

Travel

• 3X Membership Rewards Points: Earn triple points on flights, hotels, and packages booked on AmexTravel.com.
• No Foreign Transaction Fees: Avoid extra charges when using your card internationally.
• The Hotel Collection: Access benefits like room upgrades and experience credits at participating hotels.
• Global Assist Hotline: 24/7 emergency assistance for travel mishaps.
• Travel Insurance: Baggage, car rental, and trip delay coverage are available.

Additional Services

• Cell Phone Protection: Reimbursement for damaged or stolen cell phones.
• Amex Offers: Earn rewards on qualifying purchases with targeted deals.
• Dispute Resolution: Assistance with resolving fraudulent or incorrect charges.
• Extended Warranty: Extend the manufacturer’s warranty on eligible purchases.
• Purchase Protection: Coverage against theft and accidental damage for qualified purchases.
• Relationship Care Service: 24/7 dedicated support for business owners.

American Express Business Gold Card Additional benefits

• Up to $240 in annual flexible business credit on U.S. purchases at FedEx, GrubHub, and office supply stores. This can help cover essential business expenses and keep your operations running smoothly.

Everyday savings

• Walmart+ credit: Get a monthly $12.95 Walmart+ membership credit, helping you save on groceries, deliveries, and more.
• No foreign transaction fees: Avoid hidden fees on international purchases, saving you around 3%.

Enhanced travel experiences

• Access to The Hotel Collection: Unlock valuable perks like $100 experience credit, room upgrades, and other benefits at select bookings, elevating your stay.
• Baggage insurance plan: Get peace of mind with up to $500 coverage for lost, damaged, or stolen checked baggage and $1,250 for carry-ons.
• Car rental loss and damage waiver: Enjoy secondary coverage that protects you against damage or theft to rental vehicles (excluding Australia, Italy, and New Zealand).
• Trip delay insurance: Receive coverage for delays exceeding 12 hours, ensuring you’re reimbursed for unexpected travel disruptions.

Mobile protection

• Cell phone protection: Get up to $800 in annual coverage (up to two claims per year) with a $50 deductible, protecting your valuable device from unexpected damage.

Is the American Express Business Gold Card right for you?

Who Should Get the American Express Business Gold Card?

The American Express Business Gold Card shines for businesses with varied spending habits across different categories. It mainly benefits companies with frequent expenses in:

• Advertising: Earn 4x points on your top two spending categories, making advertising a strong contender for bonus points.
• Gas: Gas stations often fall under the bonus category, helping you rack up points on essential fuel purchases.
• Dining: Treat your employees or clients to meals and earn 4x points.
• Wireless services: Keep your business connected and earn bonus points on mobile phone bills.
• Transit: Commuting expenses can become more rewarding with 4x points on public transportation.
• Shipping: Whether you’re sending products or supplies, shipping costs can translate to valuable points.

This card also caters to businesses seeking a flexible rewards program. You can redeem points for:

• Travel: Transfer points to 21 airline and hotel loyalty programs for flights, stays, and upgrades.
• Statement credits: Use points to cover travel, purchases, or annual fees.
• Gift cards: Choose from various gift cards for various retailers and services.

However, due to its higher annual fee, the Business Gold Card might be more suitable for businesses with:

• Moderate to high spending: Businesses that spend consistently in the bonus categories can easily offset the fee with accrued rewards.
• Diverse spending: Companies with varied expenses across different categories benefit most from the flexible 4x points structure.

If your business falls into these categories, the American Express Business Gold Card could be a valuable asset to your financial toolkit.

Who shouldn’t get the American Express Business Gold Card?

The American Express Business Gold Card can be an excellent option for certain businesses, but it could be better for some. Here are some reasons why you might want to consider a different card:

1. You spend less in the bonus categories

The card’s main selling point is its 4x points on flights booked directly with airlines or select prepaid hotels booked on Amex Travel, 4x points at U.S. restaurants, including takeout and delivery, and on U.S. supermarkets (up to $25,000 per year in purchases). If your business expenses don’t fall into these categories, you won’t maximize the card’s value, and the $375 annual fee might be hard to justify.

2. Your business needs higher overall spending.

Even if you do spend in the bonus categories, if your overall business spending is low, you might need to earn more rewards points to offset the annual fee. Consider a card with a lower annual fee or one that offers rewards on all spending, regardless of category.

3. You need widespread card acceptance.

American Express is less widely accepted than Visa or MasterCard, especially internationally. If your business travels frequently or makes purchases from vendors who don’t accept Amex, you might run into inconveniences or limitations.

4. You prefer simple and easy reward redemption.

The Amex Membership Rewards program offers a variety of redemption options, but it can be more complex than some cash-back programs. A cash-back card might be better if you value simplicity and flexibility.

How to Redeem American Express Business Gold Card Points

The American Express Business Gold Card earns valuable Membership Rewards points with incredible flexibility. But how do you redeem them for the best value? Here’s your guide:

Top Choice: Transfer to Airlines & Hotels (1+ cents per point)

• Maximize point value by transferring to partner airlines or hotels (3 hotels, 18 airlines).
• Most transfers are at a 1:1 ratio, with some exceptions like Aero Mexico Rewards (1:1.6).
• Choose airlines like Air France-KLM Flying Blue, Air Canada Aeroplane, or Virgin Atlantic Flying Club for great value on long-haul flights.
• These programs offer easy point redemption and access to premium cabins.

Alternative: Amex Travel Bookings (0.7-1 cents per point)

• Redeem points directly for hotels at 0.7 cents or airfare at 1 cent per point through Amex Travel.
• This option offers convenience but lower value compared to airline/hotel transfers.
• Consider it if you prioritize simplicity over maximizing point value.

Avoid These Redemptions (less than 1 cent per point)

• Gift Cards: Redeeming gift cards offers a flat 1 cent per point, poor use of your valuable rewards.
• Retail Purchases: Redeeming through PayPal or Amazon checkout gives you 0.7 cents per point, which means there are better options than this.
• Cash Back & Statement Credits: Getting 0.6 cents per point for cash back or statement credits is the lowest tier and not recommended.

Remember

• Aim for at least 1 cent per point in value to make the most of your rewards.
• Transferring to travel partners is the best way to maximize point value, especially for premium travel experiences.
• If simplicity is vital, Amex Travel bookings offer a decent alternative but consider the lower value compared to transfers.

Applying for the American Express Business Gold Card

The American Express Business Gold Card offers various benefits for business owners, including rewards points, travel insurance, and purchase protection. Here’s a breakdown of the application and approval process:

Eligibility

• Business type: The card is open to businesses, including sole proprietorships, corporations, LLCs, and partnerships.
• Credit score: While American Express doesn’t disclose a specific minimum score, generally, a good to excellent credit score (720+) is preferred.
• Business financials: Depending on your industry and creditworthiness, you may be asked to provide business financials.

Application Process

1. Gather information: Have your business information (name, address, EIN/SSN), financial details (revenue, expenses), and personal information (name, address, Social Security number) ready.
2. Visit the American Express website: Navigate to the Business Gold Card page and click “Apply Now.”
3. Complete the online application: Answer questions about your business, finances, and personal details.
4. Please review and submit: Carefully review your application on American Express Business Gold Card before submitting it.

Approval Process

• Timeframe: The decision usually arrives within 24 hours to 10 business days.
• Credit check: American Express performs a credit check, which may impact your credit score slightly.
• Approval factors: Your credit history, business financials, and income are considered.
• Pre-approval tool: American Express offers a pre-approval tool that gives you an idea of your chances without impacting your credit score.

Additional Information

• Annual fee: The Business Gold Card has a yearly fee, so factor that into your decision.
• Minimum spending requirement: To qualify for the welcome bonus, there may be a minimum spending requirement.
• Terms and conditions: Carefully review the card’s terms and conditions before applying.

Customer Service

• Contact Number: 1-800-492-3344
• Official Website: American Express

Conclusion

The American Express Business Gold Card offers small businesses a compelling blend of rewards, benefits, and flexible payment options. Its standout feature is the up to $240 annual statement credit for purchases at FedEx, Grubhub, and office supply stores, catering to everyday business expenses. Additionally, Membership Rewards points offer valuable redemption options for travel, merchandise, and gift cards. Beyond rewards, the card boasts extensive travel and purchase protections, including extended warranty and purchase security. Up to 99 employee cards can be added for free, simplifying expense management. While the annual fee might deter some, the potential value proposition, particularly for businesses utilizing the enrollment credits and travel benefits, makes the Amex Business Gold Card a strong contender in the rewards card arena. However, weigh your spending habits and redemption preferences against the annual fee and consider alternatives that might better align with your business needs.

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