The American Express® Business Gold Card is a powerful tool for small business owners looking to maximize rewards on everyday spending. With lucrative earning potential, a competitive welcome offer, and flexible rewards, the card is designed to cater to a variety of business needs. Here’s everything you need to know about this card, including its benefits, earning structure, and what to expect when applying.
Key Features of the Amex Business Gold Card
4X Membership Rewards Points on Select Categories The Amex Business Gold Card stands out for its earning structure, offering 4 Membership Rewards points per dollar spent in two categories of your choice each billing cycle. Eligible categories include advertising, gas stations, restaurants, transit, airfare purchased directly from airlines, and wireless service providers. This structure is particularly beneficial for businesses with consistent spending in these areas, allowing cardholders to tailor rewards to their needs.
Earning Potential Cardholders can earn up to $600,000 in eligible purchases annually across the 4X categories, translating to a maximum of 2.4 million Membership Rewards points per year. Based on Amex’s valuation of 2 cents per point, this is equivalent to approximately $12,000 in rewards. For businesses with high spending in specific categories, this card offers unmatched earning potential, making it ideal for growth-focused entrepreneurs.
Costs and Fees
Annual Fee: $375. No Foreign Transaction Fees: Great for businesses with international spending. While the annual fee is higher than some business credit cards, the value of the rewards and benefits can easily offset this cost for many users.
Welcome Offer
The current welcome bonus is among the most generous in the market: 100,000 Membership Rewards points after spending $15,000 in the first three months. Value: Approximately $2,000 based on Amex’s point valuation. This offer provides an excellent incentive for businesses planning large purchases or high spending during the qualifying period.
Eligibility and Application Tips
Credit Score Requirements While there is no fixed credit score required to apply, most successful applicants report scores of 670 or higher. Keep in mind: Amex reviews both consumer and business credit scores if applicable. A strong credit history increases the likelihood of approval.
Factors That Affect Your Credit Score Your creditworthiness is determined by the following key factors: Payment History (35%): On-time payments are critical for approval. Amounts Owed (30%): High balances can negatively impact your score. Length of Credit History (15%): A longer credit history often leads to better results. New Credit (10%): Too many recent applications may raise red flags. Credit Mix (10%): A mix of credit types, such as loans and cards, can help.
How to Check Your Credit Score
Before applying, it’s a good idea to check your credit score. Here are some ways to do so: Free Credit Reports: Platforms like Experian and Amex’s MyCredit Guide offer free credit checks. Business Credit Scores: May require a subscription through providers like Dun & Bradstreet or Nav. Regularly monitoring your credit helps ensure there are no surprises when you apply.
What to Do If Rejected
Rejection isn’t the end of the road. If your application is denied, Amex will provide a letter detailing the reasons. Common reasons include insufficient income, high debt-to-income ratio, or recent delinquencies. Steps to Take: Review the Letter: Understand why your application was denied. Wait 30 Days: Amex suggests waiting before reapplying. Request Reconsideration: Call Amex customer service and ask for a manual review of your application. Persistence and addressing any identified issues can often lead to success on a second attempt.
Is the Amex Business Gold Card Right for You?
Who Should Get This Card? This card is ideal for business owners with high spending, especially in categories like advertising, restaurants, and transit; travel enthusiasts who can transfer Membership Rewards points to travel partners for significant value; and entrepreneurs seeking flexibility in tailoring rewards categories to fit their unique spending habits.
Who Should Look Elsewhere? If your business spending is minimal or falls outside the 4X categories, you may find more value in a no-fee business card or a cash-back option.
Key Benefits
Customizable Rewards: Adjust categories to suit your business needs. High Earning Potential: Up to $12,000 in annual value for high spenders. Generous Welcome Offer: One of the best in the market for business cards. No Foreign Transaction Fees: Ideal for global businesses.
Final Thoughts
The American Express® Business Gold Card offers exceptional rewards and flexibility for business owners who want to maximize their spending. While the annual fee may be a consideration, the card’s earning potential, welcome bonus, and category customization make it a valuable tool for entrepreneurs aiming to grow their businesses. By understanding the card’s features and aligning them with your spending habits, you can unlock significant value and take your business finances to the next level. Whether you’re investing in advertising, dining with clients, or managing daily expenses, the Amex Business Gold Card is designed to work for you.
