What credit score is necessary for the Amex Business Gold Card?

American Express provides some of the top business credit cards available today. Among them is the American Express® Business Gold Card, which offers a variety of business-oriented rewards of 4 points per dollar in selected bonus categories.

You might be questioning your chances of getting approved for the Amex Business Gold Card. Specifically, you might wonder if you qualify for the card and whether your credit score meets the necessary criteria. Today, we'll explore these topics to help you make an informed decision about applying.

Overview of the Amex Business Gold Card

The Amex Business Gold Card is designed for small businesses that have specific types of expenses. This card rewards users with 4 Membership Rewards points per dollar spent (up to $150,000 each calendar year; 1 point thereafter) in the two categories where your business incurs the most costs each billing cycle from the following selection:

• U.S. purchases for advertising in select media (online, TV, radio)
• U.S. purchases at gas stations
• U.S. purchases from electronic goods retailers and software & cloud service providers
• U.S. purchases at restaurants, including takeout and delivery options
• Transit expenses (including trains, taxis, ride-hailing services, ferries, tolls, parking, buses, and subways)
• Monthly wireless phone service charges from a U.S. wireless provider

You will earn 4 points per dollar on the first $150,000 spent across the combined categories each calendar year (after that, it’s 1 point per dollar). By earning 4 points per dollar on $150,000 in annual purchases, you could accumulate 600,000 points. According to TPG's valuations, those 600,000 Membership Rewards points are valued at $12,000.

Even if your annual spending is significantly lower, the Amex Business Gold Card can still be worthwhile. For instance, a frequent traveler who uses the Amex Business Gold Card for all domestic gas and restaurant expenditures could easily earn enough rewards to offset the card's $375 annual fee (see rates and fees).

Ultimately, the benefits you receive from the Amex Business Gold Card will vary based on your business expenses and the other cards you have in your wallet.

What credit score is required for the Amex Business Gold Card?

There isn't a specific credit score needed for the Amex Business Gold Card. However, most successful applicants tend to have a good consumer credit score of 670 or above.

The Amex Business Gold Card is categorized as a business card. Therefore, Amex will evaluate both your consumer credit score and your business credit score. Keep in mind that not all businesses possess a business credit score. In such cases, Amex will rely on your consumer credit score and the information you provide about your business.

Who qualifies for the Amex Business Gold welcome offer?

The Amex Business Gold Card currently offers a welcome bonus of 100,000 points after you spend $15,000 on qualifying purchases within the first three months of your membership. With Amex Membership Rewards points valued at 2 cents each, this bonus amounts to $2,000.

However, not every applicant qualifies for this bonus. Specifically, due to Amex's one-bonus-per-lifetime policy, the welcome offer is unavailable to current or former Amex Business Gold cardholders. Additionally, Amex states in the terms that it may take into account the number of American Express Cards you have opened or closed, along with other factors, when determining your eligibility for the welcome offer.

Fortunately, Amex provides a welcome bonus qualification tool that informs you after applying if you’re ineligible for the welcome bonus. At this point, you can choose to withdraw your application, in which case Amex would conduct a hard pull on your credit. Therefore, if you prefer not to obtain the Amex Business Gold Card without its welcome offer, be sure to read any messages that appear after you submit your application.

How to verify your credit score

Before you apply for a small-business card, it’s advisable to check your credit score. Fortunately, there are numerous ways to check your credit score for free.

For instance, you can access your Experian FICO Score 8 for free by visiting Experian's FreeCreditScore website every 30 days. Similarly, you can check your TransUnion VantageScore 3.0 for free each week through Amex's MyCredit Guide.

You can also check your business credit score. However, unlike consumer credit scores, this usually comes at a cost.

Factors influencing your credit score

Your credit score isn’t a single number. Rather, it can fluctuate depending on the calculation model (such as FICO Score 8 or VantageScore 3.0) and the credit reporting agency (like TransUnion or Experian). The precise calculation methods are not disclosed to the public. However, FICO states that a FICO Score includes the following components:

• Payment history (35%)
• Amounts owed (30%)
• Length of credit history (15%)
• New credit (10%)
• Credit mix (10%)

To boost your credit score, it’s crucial to comprehend the factors influencing your credit score. Typically, your credit score will rise as you reduce debt and learn the proper ways to manage your credit card payments.

What to do if your application is denied

If you submit an application for the Amex Business Gold Card, it’s possible that Amex may turn down your request. Even with excellent credit, other considerations could result in Amex rejecting your card application.

If Amex denies your application, you’ll receive a letter outlining the reasons for the rejection. TPG contributor Ethan Steinberg treats each denied credit card application as a learning opportunity. You can enhance your credit profile and later apply for another card (or the same one). However, Amex advises waiting at least 30 days before submitting another application for an Amex card.

Alternatively, if you have additional information that might prompt Amex to reconsider its decision on your application, you can contact Amex customer service at 1-800-567-1083 and request a review of their decision. In the best-case scenario, Amex may overturn its decision and approve your card. Even if they maintain their stance, you could gain clarity on why Amex denied your card application.

In summary

The Amex Business Gold Card provides 4 Membership Rewards points per dollar spent in selected categories (up to $150,000 of qualifying purchases each calendar year). Thus, this card can be a fantastic option for small businesses that have significant expenses each billing cycle in one or two of its specified categories.

You don’t need an impeccable credit score to qualify for the Amex Business Gold Card. A decent credit score of 670 or above might suffice for approval, particularly if other business factors suggest your application poses a relatively low risk.

For more details about the card, check out our comprehensive review of the Amex Business Gold.