American Express Business Gold Card review: Effortless with impressive earning potential

Overview of the American Express Business Gold Card

The American Express® Business Gold Card is a fantastic option for entrepreneurs aiming to maximize rewards from one card, featuring 4-point-per-dollar bonus categories that adjust to your top spending areas each billing cycle (limited to $150,000 in total purchases each calendar year). The primary drawback is its relatively steep annual fee. Card rating*: ⭐⭐⭐⭐

*Card rating reflects the assessment of TPG's editors and is unaffected by the card issuer.

The American Express® Business Gold Card offers advantageous bonus categories and significant perks for businesses. However, it also carries a substantial annual fee of $375 (refer to rates and fees).

If you possess a credit score of 670 or higher and are a small-business owner, you may be considering whether the Amex Business Gold card is right for you.

We will outline the card's advantages and disadvantages below to assist you in making your decision.

Pros and Cons of the Amex Business Gold Card

Welcome offer for the Amex Business Gold Card

New applicants for the Amex Business Gold can earn 100,000 bonus points after making $15,000 in qualifying purchases within the first three months of card membership.

According to TPG's October 2024 valuations, Membership Rewards points are valued at 2 cents each, making this bonus approximately worth $2,000.

This offer significantly surpasses the standard one provided by the card and is akin to the best-ever offer we've encountered.

It's important to note that if you've previously received a welcome offer for this card, you likely won't be eligible for another one. However, you can switch to this card from another Amex business card, such as The Business Platinum Card® from American Express.

Amex Business Gold card advantages

While the Amex Business Gold doesn't offer luxury perks like access to airport lounges, it does come with some beneficial features.

Statement credits

One of the most notable benefits of the Amex Business Gold is the potential for up to $395 in annual statement credits, which includes:

• Up to $240 back each year (up to $20 per month) for eligible purchases at FedEx, Grubhub, and office supply stores
• Up to $155 back annually (up to $12.95 per month plus taxes for one Walmart+ membership, subject to auto-renewal; Plus Ups not included)

If you can fully utilize these credits, you will easily offset the card's annual fee just from this benefit.

Enrollment is necessary.

Business advantages

The Amex Business Gold also provides a variety of excellent tools to assist you in managing your business expenses. You can issue up to 99 employee cards ($95 annual fee for the first five, then $95 for each additional card; refer to rates and fees), earning points on their purchases. Additionally, you can assign an employee as an account manager, granting them the ability to review statements, add new employees, and make payments, separate from the primary account holder.

It also provides year-end summaries, automatic expense categorization in Intuit QuickBooks, a complimentary Vendor Pay by Bill.com membership for the first user, discounted membership for the second user, no preset spending limit, and a Pay Over Time option. Enrollment is required for certain benefits.

Protections

Cardholders receive a range of valuable travel and shopping protections with the Amex Business Gold:

• Travel protections: Cardmembers benefit from various travel protections, including baggage insurance,* trip delay insurance**, and rental car insurance***
• Cellphone protection: Cardmembers can be reimbursed for repairs or replacements of stolen or damaged cellphones up to $800 per claim for up to two approved claims per year (with a $50 deductible for each claim)**
• Extended warranty: Warranties of five years or less may be extended by an additional year*
• Purchase protection: Eligible purchases are protected for up to 90 days from the purchase date against theft or damage (capped at $1,000 per occurrence, up to $50,000 per account each calendar year)*

*Eligibility and benefit levels vary by card. Terms, conditions, and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.

**Eligibility and benefits vary by card. Terms, conditions, and limitations apply. For more information, visit americanexpress.com/benefitsguide. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

Access

Cardholders also gain access to The Hotel Collection, which features a $100 on-property credit for stays of two nights or more, along with valuable Amex Offers.

While other cards may offer various travel and business perks, the statement credits, business features, and protections provided by the Amex Business Gold make it an excellent choice for many businesses.

For those who appreciate style, you can choose a rose gold or white gold version of the metal card instead of the classic gold color.

Earning Points with the Amex Business Gold

A standout feature of the Amex Business Gold is its ability to adjust bonus categories each billing cycle based on your spending habits. You'll automatically earn 4 points per dollar in your top two spending categories, eliminating the need to select and stick with a specific category.

If your spending varies from month to month, Amex ensures you maximize your bonus points. The eligible categories include:

• Transit expenses, such as trains, taxis, ride-hailing services, ferries, tolls, parking, buses, and subways
• U.S. purchases from electronics retailers and software or cloud service providers
• Monthly wireless service charges billed directly by a U.S. wireless provider
• U.S. purchases at gas stations
• U.S. dining purchases at restaurants, including takeout and delivery
• Advertising purchases from U.S. media providers in select formats (online, TV, radio)

Your earning rate of 4 points per dollar, which translates to an 8% return based on TPG's October 2024 valuation of Membership Rewards points at 2 cents each, is limited to $150,000 in combined purchases across all bonus categories each calendar year (after which it drops to 1 point per dollar).

In addition to these bonus categories, you'll earn 3 points per dollar on flights, prepaid hotels, and prepaid flight and hotel packages booked via Amex Travel or AmexTravel.com, along with 1 point per dollar on all other transactions.

If you reach the $150,000 spending cap each year, you'll accumulate 600,000 Membership Rewards points, which TPG values at $12,000. This significant earning potential could make this card appealing for many businesses.

Redeeming Points with the Amex Business Gold

The Amex Business Gold card allows you to earn Membership Rewards points, which can be transferred to any of Amex's 21 airline and hotel partners.

You can redeem your points by booking travel via Amex Travel, converting them into a statement credit or gift card, or using them for direct purchases at Amazon or in the Membership Rewards online shopping mall. However, these methods typically offer a value of 0.5 to 1 cent per point, so it's advisable to transfer your points for the best value.

Transferring Points with the Amex Business Gold

The best way to maximize your points earned on the Amex Business Gold is to transfer them to Amex's hotel and airline partners, including Air France-KLM Flying Blue, Iberia Plus, and Marriott Bonvoy.

TPG's senior points and miles writer Ben Smithson prefers to transfer his Amex points to Air Canada's Aeroplan program, which provides a wide array of airline redemption options with sensible fixed award chart rates. He also enjoys transferring to the British Airways Executive Club for short-haul flights from the UK to Europe, costing under 5,000 points each way.

Amex frequently provides transfer bonuses, allowing you to maximize the value of your points. No matter your travel preferences or objectives, you'll likely find suitable options among Amex's wide range of partners.

Which cards are alternatives to the Amex Business Gold?

If you seek additional statement credits or find it hard to justify the Amex Business Gold's annual fee, consider one of the following cards:

• For more statement credits: The Business Platinum Card® from American Express offers several statement credits each year for purchases at Dell, Indeed, Adobe, and wireless phone services (see rates and fees). For further details, refer to our full review of the Amex Business Platinum. Enrollment is required.
• To earn Chase Ultimate Rewards: The Ink Business Preferred® Credit Card provides 3 Chase Ultimate Rewards points per dollar on shipping, internet, cable, and phone services, as well as advertising on social media and search engines—plus travel purchases (on the first $150,000 spent each year). It also has a significantly lower annual fee of $95. For more information, check out our full review of the Ink Business Preferred.
• To earn Membership Rewards with no annual fee: The The Blue Business® Plus Credit Card from American Express gives 2 Membership Rewards points on all eligible business purchases (up to $50,000 per calendar year, then 1 point per dollar) and carries no annual fee (see rates and fees). For additional details, refer to our full review of the Blue Business Plus.

For more choices, check out our list of top business credit cards and best Amex credit cards.

Final thoughts

If you can fully utilize the bonus-earning categories and the statement credits available, the Amex Business Gold presents an outstanding choice for your small business. Its adaptable bonus categories and extra business perks make it an attractive card for many entrepreneurs.

However, if you're in search of more business advantages or wish to keep your annual fees low, you might find that this card doesn't truly deserve the gold medal in your wallet.