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The American Express Business Gold credit card is a high-end charge card designed specifically for small to medium size business owners and entrepreneurs. In this article we will take a closer look at the benefits, rewards, and features offered with this card option and how to maximize points earning potential on business purchases.
To qualify for the current welcome offer, new card holders must spend $10,000 on eligible purchases within the first 3 months of card membership in order to receive 70,000 points. Additional features include:
- Annual fee $295. However, after 2/1/2024 the annual fee increases to $375.
- Ability to earn 4X points on selected business purchases.
- 1X points per $1 spent on all other purchases.
- Flexible Business Credit: Receive up to $20 monthly statement credits on purchases made at Grubhub, FedEx and Office Supply stores. This adds up to $240 in annual savings. Prior enrollment online is necessary in order to receive this credit.
- Walmart + credit: Cardholders will receive $12.95 back each month in statement credits if you use the Amex Business Gold card to pay for your Walmart monthly membership. This feature pays for your Walmart Plus membership.
- Points will not expire as long as your card is active and in good standing.
- No preset spending limit.
- Cell phone protection: Cardholder can be reimbursed for the cost of cell phone repair or replacement up to $800. This feature is capped at 2 claims per 12/mo period and a $50 deductible applies.
Earning 4X points on Business Purchases
One of the most enticing offers for American Express Business Gold cardholders is the opportunity to earn 4X points on select purchases. Out of the 6 categories available, cardholders can choose 2 categories per billing cycle and earn 4X points on purchases. It’s important to note that Amex applies a cap of $150,000 in 4X earning on purchases per calendar year. After you hit the cap, cardholders will earn 1X per $1 spent in all categories. The following categories are:
|Purchases made at U.S. media providers for advertising such as radio, TV and online.
|U.S. purchases made from electronic goods retailers, software and cloud system providers.
|U.S. purchases at restaurants. This includes delivery and takeout.
|Transit purchases: This includes taxicabs, rideshare services, trains, tolls, ferries, buses and subways.
|U.S. purchases at gas stations.
|Monthly wireless telephone service charges. The provider must be a U.S based.
American Express offers a wide variety of travel benefits to its cardholders, including access to 18 airline partners. These partnerships allow cardmembers to earn and redeem points for flights and other travel expenses. All airline partners list a 1,000:1,000 ratio with the exception of Qantas which is 500:500, JetBlue which is 250:200 and AeroMexico at 1,000:1,600. Below is a list of the airline partners associated with American Express.
|ANA Mileage Club
American Express currently has three major hotel partners. The list is small, but worth noting in case you need to top off your account for a particularly valuable award or deal. Below is a breakdown of the three hotel partners and their transfer rates:
- Hilton Honors: 1,000 points for 2,000 Hilton Honors points.
- Choice Privileges: 1,000 points for 1,000 choice privileges points.
- Marriott Bonvoy: 1,000 points for 1,000 Marriott Bonvoy points.
Additional Business Features
The American Express Business Gold credit card offers an additional selection of business features designed to help entrepreneurs and small business owners manage their finances effectively. The additional business features are:
- Additional Employee Cards: Amex requires business owners to pay an annual fee of $50 for the first employee card. Additional employee business cards issued will have the annual fee waived up to 99 cards. However, if your application is received after 2/1/2024, the annual fee is increased to $95 for the first 5 cards and $95 for each additional card issued.
- Year end summary: Amex provides a year end summary of charges for business owners to review.
- Vendor Pay by Bill.com: This is a payment service allows businesses to pay their bills from one centralized platform using their American Express Business Gold card. The basic plan has no annual fee for the first user and no fee for the second user up to 6 months. A $15 per month fee will be applied for the second user after six months.
- Connect to QuickBooks: Cardholders business transactions are automatically tagged with your business QuickBooks categories.
- Account Manager: Assign an employee to oversee your American Express Business Gold account. This includes making payments, adding additional employee business cards and reviewing transactions.
- Account Alerts: This feature allows cardholders to set account alerts to review irregular spending on employee cards and avoid late payments. This information can be reviewed on the American Express app.
- Extended Warranty Protection: This feature will extend up to an additional year on the original manufactures warranty. This feature applies to US or territories purchases with a 5 year or less warranty.
- Purchase Protection: If your purchases is accidentally damaged or stolen, American Express will cover up to $1,000 per occurrence and up to $50,000 per card member account. This feature is said up to 90 days from the covered purchase date.
Additional Travel Features
American Express Business Gold credit card comes with a couple additional travel features that makes it an appealing choice for frequent business travelers. These travel features include:
|3X points per $1 spent on flights and hotels booked through AmexTravel.com.
|No foreign transaction fees.
|The Hotel Collection. If cardholders book at least two consecutive nights at the Hotel Collection through Amex travel, you will receive:
*$100 experience credit to use on qualifying dining, spa and resorts activities.
*Room upgrades during check-in only. Depends on availability and certain room categories are not eligible for upgrade.
|Global Assistance Hotline: a 24/7 emergency assistance hotline to assist in services such as medical, legal referrals and emergency cash wires.
|Travel Baggage Insurance: If your luggage is stolen, lost or damaged, cardholders can receive up to $1,250 for carry-on baggage and up to $500 for checked baggage in excess of coverage provided by the carrier. Note: cardholders must purchase the entire fare on your business card. This includes ships, plains, trains or buses.
|Car rental loss or damage insurance: Cardholders can be covered for damage/theft of a rental vehicle. This is secondary coverage and does NOT include liability. Typical coverage is capped at $50,000. Additionally, this coverage is not available for rentals in Italy, Australia and New Zealand.
|Trip delay insurance: If the cardholders roundtrip is delayed for more than 12 hours, cardholders can receive up to $300 per covered trip. This is capped at two claims per year. Additionally, in order to receive this credit, the trip will need to be delayed for a covered reason which include weather, equipment issues of the airline or a lost/stolen passport.
The American Express Business Gold credit card is a popular choice for business owners and professionals alike. It offers a variety of benefits such as a generous welcome offer, flexible rewards, expense management tools, and travel perks. The ability to earn 4X points on two selected categories and 3X points on flights/hotels booked through Amex travel makes this card option a powerful tool for business travelers. Additionally, American Express has an impressive list of airline partners and the 1:1 ratio on the majority of the associated airline carriers is attractive and can quickly increase cardholders rewards on business purchases.
Editorial Note: Information and opinions articulated in this article are solely those of the author’s, not those of a credit card company, bank, airline or hotel chain. This article has not been reviewed or approved by or otherwise endorsed by any of these companies or organizations.