Is the American Express Business Gold Card Right for Your Business? A Deep Look

The American Express® Business Gold Card is a rewards card geared toward small business owners who want to turn their everyday business spending into travel rewards. It stands out because it offers high rewards rates on up to $150,000 spent each year across your business's top two spending categories (after that, it's the standard 1X). Is it the right card for you? Let's take a closer look.

What's New with the Amex Business Gold Card?

Amex has shaken things up recently by refreshing the 2X earning categories and making travel a separate rewards category with its special rate. This is a win for businesses. The updated 4X bonus categories present fresh, relevant options.

You can now earn bonus rewards on:

• Purchases from U.S. electronics stores, plus software and cloud service vendors.
• U.S. wireless phone service.
• Transit, like trains, taxis, rideshares, and tolls.
• Advertising with U.S. media providers.
• U.S. restaurants (including takeout and delivery!).
• U.S. gas stations.

This mix of categories makes the card a strong contender if your business has diverse, recurring expenses.

Who is This Card For?

This card is a good fit if your business has a mix of regular expenses in the bonus categories, and if the big annual fee isn't a dealbreaker for you. You'll want to have a plan to take advantage of the rewards to make the fee worth it. If you're chasing after fancy perks or don't think you can make up for the fee, you might find better options.

Diving into the Rewards

• 4X Points: On up to $150,000 each calendar year in your top two spending categories from the eligible list (then 1X). The two categories where you spent the most each billing cycle are the ones that count toward that $150,000 limit.
• 3X Points: On eligible travel purchases (flights and prepaid hotels booked on AmexTravel.com).
• 1X Points: On everything else.

The Welcome Offer: A Nice Boost

New cardholders can earn 100,000 Membership Rewards® points after spending $15,000 on eligible purchases within the first three months.

Rates & Fees: What to Watch Out For

• Annual Fee: \$375
• Late Payment: \$39 (or 2.99% of the past due amount, whichever is greater)
• Penalty APR: 29.99% (Variable)
• Regular APR: 17.74% - 28.49% (Variable)
• Foreign Transaction Fee: None

The Good Stuff: Pros

• High Rewards in Key Categories: Earn boosted rewards on your top two bonus categories and on travel.
• Travel Perks: Solid travel insurance benefits, like coverage for trip delays and lost luggage.
• Expense Management: Useful tools to track spending and manage your business finances.
• Spending Flexibility: A flexible spending limit, plus the option to carry a balance with Pay Over Time.

The Drawbacks: Cons

• Limited Bonus Categories: The best rewards rate applies to only two categories, and there’s a spending cap.
• Not a Luxury Travel Card: No airport lounge access and fewer high-end perks than some competing cards.

Digging Deeper into the Welcome Offer

The 100,000 Membership Rewards® points offer after spending \$15,000 in three months is a solid jumpstart. These points are valuable and flexible. You can use them for flights through the Amex travel portal, potentially getting around \$1,000 in value. Or, if you transfer them to the right partner, they could be worth closer to \$2,000.

Making the Most of the Rewards

The card automatically tracks your spending to figure out which two categories get the bonus rewards each month.

To recap, those categories are:

• U.S. electronics and software/cloud service purchases.
• U.S. wireless service charges.
• Transit.
• Advertising with U.S. media providers.
• U.S. restaurants.
• U.S. gas stations.

You'll earn 4X points on those top two categories up to the \$150,000 limit for the year, then 1X after that. The 3X points on flights and hotels booked via AmexTravel.com is a nice perk that doesn’t count toward the spending cap.

How Much Are These Points Worth?

The Membership Rewards program is where this card shines. You can combine points from multiple Amex cards or transfer them to travel partners. Booking flights via the Amex portal is straightforward, giving you a 1-to-1 redemption rate. If you're willing to put in the work to get strategic with point transfers to partners, you might get around 2.0 cents per point. Other options will give you less value, around 0.5 to 0.7 cents per point.

Perks that Can Offset the Fee

Amex has made it easier to offset the annual fee with statement credits.

• Up to \$240 Annually: Earn up to \$20 monthly in statement credits for eligible U.S. purchases at FedEx, Grubhub, and office supply stores.
• Walmart+ Credit: Get reimbursed for your Walmart+ monthly membership when you pay with the card (up to \$155 yearly).
• Hotel Collection Credit: Book two or more consecutive nights at a hotel in The Hotel Collection through Amex Travel and get up to \$100 in credit for things like dining or spa treatments.
• Cell Phone Protection: Get reimbursed to repair or replace your damaged or stolen cell phone, up to \$800 per claim, limited to 2 approved claims within a 12-month period.

When This Card Might Not Be the Best Choice

The Amex Business Gold has good rewards, but the extras aren't over the top. You need to be able to spend enough in the bonus categories to earn enough points to make the annual fee worth it. If you can’t hit that mark, look for a cheaper card, even if the rewards aren't quite as high.

Is the Annual Fee Manageable?

The \$375 annual fee is a hurdle. The statement credits help, but they may not align with your business needs. To offset the fee with rewards alone, you'll need to spend a little over \$400 per month in the 4X categories, assuming you can get a good redemption value.

If you use the Amex portal for travel, you'll need to spend closer to \$800 per month in the 4X categories to break even.

What Our Expert Says

Ryan Flanigan, a credit card writer here, uses the Amex Business Gold strategically:

I love the flexibility of this card. I use it to spend in different bonus categories almost every month, depending on what I need for my business. The points are valuable, and I can never have enough Membership Rewards points. I'm careful about focusing my spending in two categories each month, so I can easily max out this card’s potential. The card covers many of my needs, making it valuable to my overall card-earning strategy.

How it Stacks Up Against Other Cards

The Amex Business Gold is great if you have large business expenses in its bonus categories. But if you want fancy perks or a lower annual fee, other cards might be a better fit.

Cards that Pair Well

To get the most value, use the Amex Business Gold for its bonus categories and pair it with another card for everything else – something with no annual fee and strong rewards on all purchases or specific business categories.

Some options include:

• Ink Business Cash® Credit Card
• The Blue Business® Plus Credit Card from American Express

Is This Card Right for You?

Consider the Amex Business Gold if:

• You or your employees travel often and can maximize points on flights, hotels, and transit.
• You prefer flexible rewards like travel over cash back.
• You're an American Express fan and like their transfer partners.

Other Options to Consider

If you have a smaller business budget or fewer travel needs, check out other business credit cards.

The Bottom Line

The American Express Business Gold card can be a rewards powerhouse for the right business. Just be sure to weigh the annual fee against your spending habits and redemption strategies to see if it makes sense for you.