Is the Amex Business Gold worth it?
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, 2X points on rental cars booked through AmexTravel.com and 1X points on all other purchases. New cardholders can also earn a generous welcome bonus of 70,000 points when spending $10,000 within three months of account opening. Points earned with this card fall within the dynamic American Express Membership Rewards program, and this bonus can be worth $1,400 on its own based on recent valuations.
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 are all the important details you should know about.
American Express® Business Gold Card
- Earn 70,000 Membership Rewards points when you spend $10,000 on eligible purchases within three months of account opening
- Earn 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 and 1X points on all other purchases
- $295 annual fee
- Variable APR of 14.24 percent to 22.24 percent
- Terms apply
Learn More: Amex Gold Business Benefits Guide
Is the American Express Business Gold Card worth it?
Only you can decide if the Amex Business Gold is worth it, yet a handful of important factors can make your decision an easy one. Consider the following details as you weigh the pros and cons of paying this card’s $295 annual fee.
Generous welcome bonus
You can earn a generous welcome bonus of 70,000 American Express Membership Rewards points when you spend $10,000 on your new card within three months of account opening. The average monthly spending threshold to earn this bonus is high at $3,334 per month for three months, yet the effort can be worth it considering this bonus is worth up to $1,400 based on recent valuations of Amex Membership Rewards points.
Lucrative earning rate in popular business categories
If your business spends a lot on airfare purchased directly from airlines or on U.S. advertising purchases, U.S. gas stations, U.S. restaurants, U.S. shipping costs and U.S. computer needs purchased from select providers, this card’s heightened bonus categories can pay off in a big way.
If you’re able to max out the $150,000 in combined spending limit on this card within a year, the 600,000 American Express Membership Rewards points you earn can be worth up to $12,000.
The Amex Business Gold 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 travel benefits include no foreign transaction fees, a baggage insurance plan, trip delay insurance, access to a Global Assist hotline, secondary auto rental coverage and more.
Protection for purchases
Cardholders also receive special coverage for purchases when they pay with their credit card. These include American Express purchase protection, which provides protection against damage or theft that occurs within 90 days of the date of purchase. Extended warranties also apply to items that come with a manufacturer’s warranty of five years or less.
Should I get the Amex Business Gold?
While the Amex Business Gold Card offers lucrative rewards and quite a few cardholder benefits, it’s only natural for the $295 annual fee to give you pause. The annual fee also makes this business credit card a better deal for some types of spenders than others.
Who should get the Amex Business Gold?
- Businesses who spend considerable sums in the 4X bonus categories this card offers each year
- Frequent travelers who want to earn points in the American Express Membership Rewards program on their business spending each year
- Anyone who wants some basic travel protections and purchase benefits from a business credit card
Who should consider a different business credit card?
- Business owners who would prefer to earn cash back rewards on their business spending
- Anyone who is averse to paying annual fees for a credit card
- Businesses who don’t spend in this card’s 4X bonus categories on a regular basis
- Anyone who wants premium travel perks with their business credit card, such as airport lounge access or annual credits for travel
- Anyone who plans to carry a balance and would be better off with a business credit card that has an intro APR offer
How to maximize your business’ rewards with the Amex Business Gold
The Amex Business Gold Card can serve as a valuable tool to earn rewards, but you still have to be strategic if you want to earn as much in rewards as you possibly can. Consider the following tips:
Be intentional when it comes to bonus category spending
Make sure you know this card’s 4X points categories inside and out and that you do your best to spend with your business card in them when it makes sense. As an example, it helps to know that select U.S. computer hardware, software and cloud computing purchases can include those made at stores like Apple, Dell, HP, Oracle and more.
Fortunately, American Express is very transparent about their bonus categories, and they offer a Rewards Information portal where you can find definitive explanations for each bonus category and what it includes.
Make sure to earn the welcome bonus
Be sure to earn the welcome bonus on this card, which can be worth $1,400 on its own. Just keep in mind you’ll have to spend $10,000 on your card within three months to be eligible, which may or may not be difficult depending on your average spending and bills.
Pay attention to Amex Offers
Finally, make sure to add Amex Offers to your card. These offers are free for consumers and business owners with an American Express Credit Card, and they help you earn more cash back or additional rewards when you make purchases with participating merchants, restaurants, travel brands and more.
The bottom line
The Amex Business Gold Card can be worth it if your business spending aligns with the bonus categories, you believe you can earn the welcome bonus and you want some purchase and travel protections. Even so, it never hurts to compare all the best business credit cards available today, including other business credit cards from American Express.