American Express Business Gold Rewards Credit Card Review

Advertiser Disclosure

American Express has long been a leader as a credit card issuer. They give customers a unique experience with points accumulation and redemption through their Membership Rewards program. They also have great ongoing customer service. While in-the-know card members are privy to these perks on the individual consumer credit card side of the coin, business owners can take advantage as well. With the American Express Business Gold Rewards credit card, business owners have a smart way to fund company spending while still getting in on the benefits offered through the American Express Membership Rewards program.

 

Card Basics

The American Express Business Gold Rewards credit card is a charge card. This means that balances accrued each billing cycle are required to be paid in full each month. A charge card is ideal for businesses with high, consistent cash flow. It’s also good for owners who want the ability to earn rewards on business-related purchases. The Business Gold Rewards card offers a slew of rewards options that are truly unique from other credit card points programs.

Membership Rewards are earned at a rate of 3 points per one dollar spent on purchases made with the Gold Rewards card. But card members have their choice as to which category the additional are earned. Business Gold Rewards card members can choose to earn three times the points on one of the following categories:

  • Airfare purchased directly from an airline
  • Purchases made within the U.S. for advertising in certain media categories
  • Gas station purchases made within the U.S.
  • Shipping expenses within the U.S.
  • Computer software, hardware, or cloud computing service purchases within the U.S. made directly from select providers

Reward Accumulation

While most other cards would reduce the rewards earning potential down to one point per dollar spent on remaining purchases, the American Express Business Gold Rewards credit card goes one step further. Any categories not chosen by the card member for the triple rewards earn two points per dollar spent, making the accumulation of valuable rewards easier than comparable business credit cards. For all other purchases that do not fall within these specific categories, card members earn the standard one point per dollar spent.

Membership Rewards earned in the three times and two times categories are applicable to the first $100,000 spent on the Business Gold Rewards credit card. All other rewards earned on ancillary purchases do not have a cap. New cardmembers have the opportunity to earn even more rewards with a bonus offer of 75,000 rewards points. However, this only applies when a minimum of $10,000 is spent within the first three months after the account is opened.

Redeeming Membership Rewards through American Express is simple. Business owners have the ability to cash in points for gift cards, travel, entertainment or dining experiences, or shopping directly through partner merchants.

American Express Benefits

Cardmembers with American Express have more to look forward to. For business owners, the ability to accurately track and manage spending limits on company cards is an important factor in ongoing expense monitoring. American Express Business Gold Rewards credit card members have the ability to earn additional points by activating employee cards with pre-set limits. Any activated employee credit cards also come with real-time alerts that provide insight into who is spending and in what amount.

American Express also offers cardmembers the ability to establish account managers for the Business Gold Rewards credit card. Trusted individuals, such as an executive level employee or business partners, can easily and quickly manage spending on the card, with either full or limited access. Tasks, like reviewing purchases and monthly statements, disputing charges and adding employee cards, are a breeze with this feature unique to American Express.

ReceiptMatch is also made available to Business Gold Rewards credit card members. This program allows business owners to manage expenses through the desktop or mobile application. Receipts can easily be added, tagged, or noted within this helpful feature. This creates a simple way to streamline monitoring and tracking. American Express provides additional benefits to card members, including:

  • Premium Roadside Assistance
  • Global Assist Hotline
  • Baggage Insurance Plan
  • Purchase Protection
  • Car Rental Loss and Damage Insurance
  • Extended Warranty
  • Travel Accident Insurance

The Costs

Although the American Express Business Gold Rewards credit card is a charge card and therefore has no interest rate applied to purchases, there are some costs associated with its use. As a current promotion, new card members are not assessed an annual fee for the first year of membership. After the first year, an annual fee of $175 applies. Cardmembers who shop outside the United States do not have to be concerned with foreign transaction fees.

Cardmembers who are late remitting payment are charged a $38 fee, or 2.99% of the past due “Pay in Full” amount, whichever is higher. Additionally, any returned payments cost the card member a $38 fee. Cardmembers do not have pre-set spending (credit) limits with the American Express Business Gold Rewards credit card, so no over the limit charges apply.

The Verdict

The American Express Business Gold Rewards credit card is an ideal choice for business owners who want customizable options for rewards. The ability to select certain high-spending categories to capitalize on rewards is a feature unique to American Express. Cardmembers who spend heavily in the three times categories can accumulate a substantial rewards balance over time. The ability to earn an additional two times each dollar spent is a nice added bonus. Without a credit or spending limit, a waived first-year annual fee, and no foreign transaction fees, business owners have a smart choice in the Business Gold Rewards credit card.

Business owners who do not spend enough in the three times categories to justify the annual fee may want to look elsewhere for a company credit card. Also, companies with less than consistent cash flow each month, or seasonal dips in revenue, may want to consider a business credit card that allows for repayment over time instead of the pay in full monthly schedule set forth by American Express. Overall, the American Express Business Gold Rewards credit card is a solid choice for business owners who fit the spending and cash flow bill.

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