The American Express® Business Gold Card lets business owners earn 4X points on up to $150,000 per year in the two categories they spend the most in each billing cycle, plus 1X points on all other purchases. New cardholders can also earn a generous welcome bonus of 70,000 points after spending $10,000 within three months of account opening.

Still, a $295 annual fee applies to this card, which should leave you with an important question: Is the American Express Business Gold Card worth it?

While the right rewards credit card is different for everyone, we believe the Amex Business Gold is ironically “worth its weight in gold” for the right type of business owner. We’ll explain why in more detail below.

Details of the Amex Business Gold

Remember that the Amex Business Gold gets you 4X points on up to $150,000 per year in the two business categories you spend the most in each billing cycle. Business spending categories that qualify for heightened rewards include airfare purchased directly from an airline, advertising (purchased in the U.S. to promote your business online, on TV or on the radio), U.S. gas stations, U.S. restaurants, U.S. shipping costs and U.S. computer software, hardware and cloud data made directly from select providers.

Here’s a quick overview these details and more:

American Express® Business Gold Card

  • Welcome bonus: 70,000 Membership Rewards points when you spend $10,000 on eligible purchases within three months of account opening
  • Rewards: 4X points in two categories your business spends the most in each billing cycle (on up to $150,000 in combined purchases per year); 2X points on rental cars booked through AmexTravel.com; 1X points on all other purchases
  • Annual fee: $295
  • Variable APR: 17.99 percent to 25.99 percent
  • Terms apply

When is the Amex Business Gold worth it?

There are several reasons the Amex Business Gold may be well worth the $295 annual fee, and it all starts with the generous welcome bonus this card offers. Note that points earned with this card fall within the dynamic American Express Membership Rewards program and are worth an average of 2 cents each toward premium travel redemptions—meaning this bonus alone can be worth up to $1,400.

Membership Rewards points come with a variety of redemption options in general. Points can be used for merchandise, gift cards, statement credits and travel through AmexTravel.com, and you can also transfer them to American Express transfer partners, like Delta SkyMiles, Air France / Flying Blue and the Hilton Honors program.

If your business spends a ton in this card’s bonus categories, you could score quite the haul in points over the course of a year. After all, maximizing the 4X points offer with $150,000 in annual spending in categories like airfare, purchases at U.S. gas stations and U.S. shipping purchases could net you 600,000 Amex Membership Rewards points, worth up to $12,000 over the course of 12 months.

The Amex Business Gold also comes with a few important travel benefits to be aware of, including a 25 percent airline bonus. This bonus gives you 25 percent of your points back (up to 250,000 points back per year) when you use them to book airfare with AmexTravel.com. The 25 percent airfare bonus applies to any airfare booked with your select airline or on any First or Business Class fare.

Other Amex Business Gold benefits include no foreign transaction fees, a baggage insurance plan, trip delay insurance, access to the Global Assist Hotline, secondary auto rental coverage and more.

When is the Amex Business Gold not worth it?

While the rewards and benefits this business credit card offers are stellar, keep in mind that Amex Membership Rewards points are best for travel and far from ideal if you want to rack up cash back or points you can redeem for merchandise or gift cards. The fact is, you’ll only get .7 cents per point in value when you redeem rewards for purchases with the Amex Pay with Points feature, .6 cents per point if you redeem points for statement credits and anywhere from .5 cents to 1 cent per point for gift cards,

Another downside of this card is its $295 annual fee and lack of an intro APR offer. If you need to carry a balance on your business card from time to time, you may want to look into cards that offer a zero-interest period on purchases. Some of the best American Express business credit cards even let you earn Membership Rewards points with no annual fee while enjoying a 0 percent intro APR on purchases for 12 months after account opening.

Finally, the Amex Business Gold doesn’t have the same robust selection of travel benefits as other top American Express business cards. For example, those who sign up won’t get airport lounge access or annual credits for travel like they would if they chose The Business Platinum Card® from American Express over the Amex Business Gold.

Should you get the Amex Business Gold?

The Amex Business Gold Card can be worth it if your business spending aligns with its bonus categories, believe you can comfortably earn the welcome bonus and want some purchase and travel protections. Even so, it never hurts to compare all the best business credit cards available today.

The bottom line

Before you sign up for the Amex Business Gold, make sure to read our American Express Business Gold Card review. Doing so can help you understand all this business credit card has to offer as well as how it stacks up to other business cards with comparable annual fees.