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Small businesses need to regularly review their expenses and spending habits to stay in business. They check whether you can get products from another supplier cheaper and also spend the credit card – or cards – on business expenses to get the best possible return on your purchase.
Another key issue is whether the annual fee of the small business credit card you are using is worth it. Are you getting the perks and benefits that justify this payment? Is it worth paying the card’s annual fee to get the bonus points it offers on your business spending? Or would you rather be offered another credit card?
of American Express® Business Gold Card It has a $295 annual fee (see rates and fees), so let’s consider these questions to see if this card is worth the annual fee.
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Welcome bonus
New applicants for the Amex Business Gold Card can earn 70,000 bonus Membership Rewards points after spending $10,000 on purchases in the first three months of card membership.
According to our latest reviews, Membership Rewards points are worth 2 cents each. That makes this bonus $1,400, giving you a solid 14% return on spend during the welcome period.
Related: How to Redeem American Express Membership Rewards for Great Value
25% airline bonus
When cardmembers use their points to pay for flights through American Express Travel, they are eligible to earn 25% of their points back. This applies to tickets for business and first class flights on any airline or in any class with the airline of your choice (which you must choose in advance). Cardmembers can earn up to 250,000 points per year using this feature.
Related: Our full review of the Amex Business Gold Card
Adaptive bonus income
Many credit cards offer compounding categories where you get 3 points per dollar here and 2 points per dollar every month. Instead, the Amex Business Gold Card now offers bonus income for spending more.
Cardmembers earn 4 points per dollar spent in two categories each billing cycle. This applies to the first $150,000 in purchases in bonus categories each year (1 point per dollar thereafter). Bonus categories include:
- Airfare purchased directly from airlines.
- US purchases for advertising in selected media (online, TV or radio).
- US purchases computer hardware, software and cloud solutions directly from select technology providers.
- American purchases at gas stations.
- US purchases at restaurants, including takeout and delivery.
- US purchases to ship.
Cardmembers earn 1 point per dollar on all purchases with no limit on how many points they can earn in a year.
Related: What Credit Score Do You Need for the Amex Business Gold Card?
Small-business benefits
Amex Business Gold Prime Cardholders can access a number of business-related benefits. These benefits include year-end summaries, self-billing with Intuit QuickBooks and Bill.com with vendor billing services. This feature is free for the first user, six free months for the second user, then $15 per month for the second user. Advance registration is required for this benefit.
A primary cardmember can add employee cards, which incur an annual fee of $50 for Business Gold Cards or an annual fee for Business Green Cards (see Rates and Fees). These cards allow the main account to earn rewards on employee spending and help monitor and limit employee spending as needed. In fact, you can assign other people as account managers to control most of these features.
The Amex Business Gold Card is not a traditional credit card, but instead comes with pre-set spending limits. This means that the amount you can spend on the card will vary depending on your credit score, payment history, and your relationship with American Express. In addition, you may be eligible to sign up for timed payments on your card, and Amex sometimes sends out targeted bonus points for signing up for this feature.
Related: 6 Little-Known Benefits of the Amex Business Gold Card
Benefits of travel and shopping
The Prime Cardmember can access hotel suite bookings with Amex Travel. With a two-night minimum applied to these reservations, you can receive benefits such as a $100 property credit, such as dining, spa or resort activities, and room upgrades upon check-in (when available).
Like the American Express Card, cardmembers have access to Amex offers, which give targeted cardholders savings or bonus points on eligible purchases. Amex Business Gold Cardmembers also enjoy many shopping and travel protections. These include an additional year of extended warranty* and 90 days of purchase protection* for stolen or accidentally damaged items (up to $1,000 accidental and up to $50,000 per year). When traveling, cardmembers get secondary car insurance*** and baggage insurance* of up to $1,250 for checked bags and up to $500 for checked bags – in addition to what your carrier provides.
Related: Your Complete Guide to Purchase Protections on American Express Cards
* Eligibility and benefit levels vary by card. Terms, conditions and restrictions apply. Visit americanexpress.com/benefitsguide for details. Policies are written by AMEX Assurance Company.
** Eligibility and benefit levels vary by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and restrictions apply. Visit americanexpress.com/benefitsguide for details. Policies are written by AMEX Assurance Company. Coverage provided by American Express Travel Related Services Company, Inc.
at last
The Amex Business Gold Card doesn’t offer elite status or free hotel night certificates like you’ll find on travel rewards credit cards. Instead, it focuses on providing small business owners with the tools they need to keep track of their finances. It also offers the opportunity to earn redemption points, where you can earn extra points on your current spend and get 25% off flights when you pay with points.
For most small business owners, the value of an Amex Business Gold Card depends on the protection it offers and the points you earn on purchases. If these add value to your business, it will be a good fit. If your spending categories don’t match this card, it’s best to get a different card that matches your spending categories.
Official Application Link:- American Express Business Gold Card After spending $10,000 on purchases in the first three months of card membership, you will be welcomed with 70,000 bonus points.
For Amex Business Gold Card rates and fees, click here.
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