American Express Business Gold Card Review
For companies craving a business credit card that offers a balanced array of rewards, introductory bonuses and travel perks, the American Express® Business Gold Card meets those needs. The card offers impressive point bonuses on common spending categories like airfare and advertising, and it gives new accountholders a nice welcome incentive.
For those who don’t want to fuss each month with signups and determining where the bulk of their dollars go, Amex automatically applies the highest point level to the eligible categories. The cap on spending limits in those select categories is greater than a lot of other cards you’ll encounter in the same niche, and points accumulated over that threshold are unlimited. So, businesses that spend large sums on the card will earn some hefty rewards and pick up some attractive perks.
If you maximize the upper-tier bonus rates and spend a manageable amount out of the gate, the annual fee won’t put much of a dent in your overall costs. Flexible payment options give you the ability to pay higher-dollar expenses over time, and that could help with cash flow for businesses that see fluctuations in revenue each month. And should you use Amex options to book business trips, you’ll walk away with a better redemption value on points than if you were to use a competing platform.
Down to business with the American Express Business Gold Card
Perks and features of the American Express Business Gold Card
Is the American Express Business Gold Card right for my business?
When you’re considering applying for a card like the American Express Business Gold Card, you’ll want to analyze your previous spending habits over the past 12 months to see if your purchases align with the 4% bonus categories. New businesses will want to make that same assessment but must rely on projected spending in the upcoming year. If gas, airline ticket or computer software and hardware count among your past or future purchases, this card is an excellent fit for your business. Also, if you run a seasonal operation that has a few lean months during the year, the additional access to capital and flexible repayment options could be used to supplement cash flow.
Organizations such as retailers or wholesalers whose major expenditures are concentrated in inventory and materials may not be the best candidates for the Amex Gold Card. Businesses like these might be better off using a card that earns a flat two points per dollar on all purchases, regardless of category. It’s the same for big spenders, as once the $150,000 cap is reached on the four-point areas, you won’t be earning as much back. Finally, if you’re a startup trying to hold the line on costs, the $295 annual fee may turn you off.
One possible alternative to the American Express Business Gold Card is the Ink Business Preferred Credit Card by Chase. Right off the bat, you’ll pay $200 less for the annual fee, and the Chase option nets you 80,000 points after $5,000 in purchases in those first three months. Those points equate to $1,000 if redeemed through the Chase Ultimate Rewards program. One other unique benefit is cellphone protection. You and your employees receive up to $600 in coverage for theft of or damage to mobile phones.
The bottom line
No matter how you look at it, the American Express Business Gold Card is a solid option. Most companies can wrench value from the four-for-one bonus point structure, and it doesn’t take a huge chunk of change to neutralize the annual fee in the first three months. A bevy of Amex features and benefits are included with the card, including some unique programs that let you easily access funding beyond your spending limit.
You’ll always have a choice in the credit card arena, and whether another solution suits your fancy depends largely on the type of business you own, the categories in which you spend and the tolerance you have for an annual fee. Meatier welcome bonuses can be had through other cards, so perform your due diligence to find the choice that’s right for you.