Is the Amex Business Gold worth it?
Key takeaways
- Despite the generous welcome offer and earning rate on the American Express® Business Gold Card, the $375 annual fee may give some consumers pause.
- Looking over your past business spending can help you figure out how much in rewards you can earn and whether your rewards haul will justify the annual fee.
- Also look at other benefits this card offers, including its travel insurance perks and consumer protections.
- Ultimately, the Amex Business Gold can be worth it if you value the rewards and benefits you're getting enough to pay its annual fee.
The American Express® Business Gold Card allows business owners to earn 4X points on up to $150,000 per year in the two categories from six eligible categories in which they spend the most in each billing cycle (then 1X points), 3X points on flights and pre-paid hotel stays booked through AmexTravel.com and 1X points on all other purchases. New cardholders can also earn a generous welcome offer of 70,000 points after spending $10,000 on eligible purchases with the Business Gold Card within the first three months of card membership.
Still, a $375 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 business 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.
When is the Amex Business Gold worth it?
Before you sign up for the Amex Business Gold, it’s smart to think over how your business actually spends, as well as the way you prefer to redeem your rewards later on. You’ll also want to consider any perks you get just for being a cardholder.
Here are some scenarios where the Amex Business Gold can be well worth the $375 annual fee.
You want to earn Amex Membership Rewards points
First off, you should note that points earned with this card fall within the dynamic American Express Membership Rewards program and are worth an average of 2.0 cents each when transferred to a high-value travel partner, according to Bankrate valuations, meaning the welcome offer alone can be worth $1,400.
Membership Rewards points come with a variety of redemption options in general. Points can be used for merchandise, gift cards, statement credits and travel through AmexTravel.com, though non-travel redemptions offer lesser value for your rewards. Your best value will come from transferring points to American Express transfer partners, like Delta SkyMiles, Air France / Flying Blue and the Hilton Honors program.
Your business spends a lot in the card’s eligible bonus categories
Also remember that the Amex Business Gold rewards you with 4X points on up to $150,000 per year in the two business categories from a list of six eligible categories in which you spend the most each billing cycle (then 1X points). Business spending categories that qualify for heightened rewards include purchases of airfare directly from an airline; U.S. advertising purchases; purchases at U.S. gas stations; purchases at U.S. restaurants; U.S. shipping costs; and purchases of U.S. computer software, hardware and cloud data made directly with select providers.
If your business spends a ton in these categories, you could score quite the haul in points over the course of a year. After all, maximizing your spending in categories like airfare, purchases at U.S. gas stations and U.S. shipping purchases could net you 600,000 Amex Membership Rewards points per year, worth an estimated $12,000 if you transfer points to high-value partners.
Several included perks are attractive to you
Other Amex Business Gold benefits include no foreign transaction fees, a baggage insurance plan, trip delay insurance, access to the Global Assist Hotline and secondary auto rental coverage. Separately, this card also comes with extended warranties on eligible items and purchase protection against damage or theft.
When is the Amex Business Gold not worth it?
While the scenarios above are ones where this card’s annual fee can pay for itself with ease, the Amex Business Gold won’t work for everyone. If any of the situations below apply to you, the Amex Business Gold probably isn’t the best option for you.
Your business spending doesn’t align with this card’s bonus categories
Earning 4X points in a range of popular categories (on up to $150,000 per year in two the two categories your business spends the most in each billing cycle, then 1X points) sounds like a good idea in theory, yet this exceptional rate will only benefit you if you spend in the included categories. If your business spending tends to fall elsewhere or you make a lot of miscellaneous purchases with a business credit card, the regular earning rate on the Amex Business Gold is just 1X points.
You’ll want to ensure you can max out the $150,000 spending cap with spending in the eligible categories.
You’d rather to earn cash back
Also keep in mind that Amex Membership Rewards points are best for travel and far from ideal if you want to rack up cash back or points you can redeem for merchandise or gift cards. You’ll only get 0.7 cents per point in value when you redeem rewards for purchases with the Amex Pay with Points feature, 0.6 cents per point if you redeem points for statement credits and anywhere from 0.5 cents to 1 cent per point for gift cards.
If you want a way to redeem rewards for non-travel redemptions and still get at least 1 cent per point, the Amex Business Gold is not the business credit card for you.
You’re trying to keep costs down for your business
As we mentioned already, the $375 annual fee on this card can be hard to justify if your business doesn’t spend enough to rack up a considerable amount of rewards.
The card’s lack of an introductory APR offer also means carrying a balance will become costly in a hurry. If you need to carry a balance on your business card from time to time, you may want to look into cards that offer a zero-interest period on purchases. The Blue Business® Plus Card from American Express, for instance, earns Membership Rewards points with no annual fee and offers a 0 percent intro APR on purchases for 12 months after account opening before an ongoing variable APR of 18.49 percent to 26.49 percent applies.
Should you get the Amex Business Gold?
The Amex Business Gold Card can be worth it if your business spending aligns with its bonus categories, you believe you can comfortably earn the welcome offer and you want some purchase and travel protections. That said, it can help to do some math to figure out what the rewards you earn will be worth.
As an example, a business owner who spends $60,000 per year in eligible bonus categories would earn 240,000 Membership Rewards points that can be worth an estimated $4,800 in travel if transferred to high-value Amex transfer partners. However, a business that only spends $5,000 in eligible categories per year would earn 20,000 points with an approximate value of $400.
At that level of spending, you may want to compare some other top business credit cards available today — including options with no annual fee — to find a better fit.
The bottom line
Before you sign up for the Amex Business Gold, make sure to read our American Express Business Gold Card review. Doing so can help you understand all this business credit card has to offer as well as how it stacks up to other business cards with comparable annual fees.
Issuer-required disclosure statement
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visitamericanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
