Amex Business Gold Card Review: High Rewards vs. High Costs

Business owners looking to earn Amex Membership Rewards points should consider the American Express® Business Gold Card. Depending on the type of business you run, this card could earn you tons of points and help you book some serious award travel along the way.

But this card doesn’t come without cost.

In this American Express Business Gold Card review, we will help you decide whether or not the Amex Business Gold is a good fit for you. We’ll also suggest some alternative business credit cards worth checking out, to net you big rewards and discounted travel.

What Is the American Express Business Gold Card?

The American Express Business Gold Card offers big rewards for big spenders without sacrificing flexibility.

With an annual fee of $375 (see rates and fees), it’s a mid-tier card with perks to match.

It packs a punch when it comes to earning rewards on typical business expenditure as well as on other everyday spending categories, from restaurants and transit purchases to gas.

However, as we will cover in detail, the Amex Business Gold isn’t perfect, and may not offer the ideal balance between cost and rewards for all travelers.

Pros and Cons

Let’s go over the main pros and cons of the Amex Business Gold Card.

Advantages for Businesses

If you or your business requires a high level of monthly spending, the Amex Business Gold Card could be a great match.

Likewise, if you need flexibility when it comes to earning points across bonus spending categories, the Amex Business Gold is a great fit as it rewards you where you spend the most.

For the frequent traveler who seeks protection, the Amex Business Gold also offers a range of travel insurance perks, as well as cell phone protection.

Potential Drawbacks

Despite having numerous benefits, the Amex Business Gold still isn’t for everyone or every business type.

If you want a card that focuses on luxury travel perks, the Amex Business Gold isn’t the best fit. Rather, cards such as The Business Platinum Card® from American Express would be a better fit. You can check out our review of the Amex Platinum vs. Gold here.

Alternatively, if the Amex Business Gold annual fee of $375 is too much to stomach, a $0 annual fee or low-tier card would be a better option, such as The Blue Business® Plus Credit Card from American Express (see rates and fees).

Similarly, if the card’s 4X points bonus categories don’t match your spending habits, finding a card better aligned with your spending is the smarter way to go.

Key Features of American Express Business Gold Card

Let’s now check out each of the Amex Business Gold Card’s benefits and features in detail.

Flexible Bonus Categories

The Amex Gold business categories are some of the card’s standout features. They offer lucrative rewards and flexibility.

You’ll earn 4X Membership Rewards points per dollar spent in your top two spending categories every billing cycle. Eligible spending categories include the following:

• Purchases made at media providers for advertising in select media (online, TV, radio) in the United States (U.S.)
• Purchases made from U.S. electronic goods retailers and software and cloud system providers
• Purchases made at U.S. restaurants, including takeout and delivery
• Purchases made at U.S. gas stations
• Transit purchases including buses, ferries, parking, rideshare services, subways, taxicabs, toll and trains
• Monthly wireless telephone service charges made directly from a wireless telephone service provider in the U.S.

While your top two spending categories may change from one billing cycle to the next, your ability to earn 4X points per dollar spent is capped at $150,000 in annual spending across all six categories combined. From then on, you’ll earn 1X point per dollar spent for the remainder of the calendar year.

This flexibility combined with a high spending cap allows your business to earn rewards where it spends the most, without being locked into a single bonus spending category. Each one of the six categories—from gas, restaurant and electronic goods providers to transit purchases, telephone service providers and advertising—enables almost every business to benefit from 4X points per dollar spent.

The rewards, however, don’t just stop at 4X points. You’ll also earn 3X points per dollar spent on flights and prepaid hotels booked through AmexTravel.com. Whether it’s a business trip or weekend getaway, the Amex Business Gold rewards the frequent traveler.

So if cash prices are low, you might get a better bang for your buck by booking your flight or hotel through AmexTravel.com, netting you a competitive rate of 3X points per dollar spent.

Amex Membership Rewards Program

As an American Express Business Gold Card holder, you’ll enjoy access to the lucrative Amex Membership Rewards program.

Membership Rewards points are a solid rewards currency and Amex has more than 21 hotel and airline partners, to whom you can transfer your hard-earned points. Amex transfer partners include the following:

Most point transfers are instant and at a 1:1 ratio, making your rewards go further. This wide range of partners, both domestic and international, ensures flexibility when it comes to booking award travel.

$240 Flexible Business Credit

Flexibility is a key theme of the American Express Business Gold Card, and its flexible business statement credit is no exception.

You can receive up to $20 in monthly statement credits for purchases made at Grubhub, FedEx and office supply stores. That works out to $240 in potential savings, every year.

$155 Walmart+ Credit

For frequentWalmart shoppers, the Amex Business Gold Card may be a valuable tool.

You’ll receive up to $12.95 plus taxes (Plus Ups not eligible) per month in statement credits when you charge your Walmart membership to your Amex Business Gold Card. That’s up to $155 in annual savings.

Exclusive Benefits with The Hotel Collection

When you book a minimum stay of two nights with The Hotel Collection through American Express Travel, you’ll receive the following benefits at participating properties:

• $100 experience credit to spend on qualifying dining, spa and resort activities (experience credit varies by property)
• Room upgrade upon check-in only, when available (certain room categories are not eligible for upgrade)

Employee Cards

As a basic account member of the Amex Business Gold Card, you can issue your employees their own cards and set spending limits. Even better, you’ll also earn Membership Rewards points on their spending.

For the first five employee cards, you’ll pay a flat rate of $95. Any additional cards will cost $95 each, up to a maximum of 99 employee cards.

No Foreign Transaction Fees

Global businesses need a card that supports them both at home and abroad. The American Express Business Gold Card doesn’t charge any foreign transaction fees, potentially saving you hundreds of dollars worth of fees, making foreign travel and business a breeze.

Travel and Purchase Protections

The Amex Business Gold Card has a solid range of travel and protection purchases, ensuring you’re protected on the road, in the sky and even at your local shop.

Here’s an overview of the protections you’ll enjoy, as well as their limits and important exclusions.

Baggage Insurance Plan

If you charge the cost of your common carrier fare to your Amex Business Gold card, you’ll receive reimbursement in the event your baggage is lost, stolen or damaged.* This policy also covers your spouse and dependent children under the age of 23 years old.

Carry-on baggage is insured up to $1,250 while checked baggage is insured up to $500. For residents of New York state, an aggregate limit of $10,000 applies to all baggage and persons per covered trip.

A separate sub-limit of $250 applies per person for high-risk items, which include the following:

• Computers and audio/visual equipment
• Items consisting in whole or in part of gold, silver or platinum
• Furs
• Jewelry
  Photographic or electronic equipment
• Sporting equipment
• Wearable technology

On the whole, baggage insurance can go a long way to help cover the cost of a lost bag when traveling.

Trip Delay Insurance

If a covered reason delays your common carrier trip for 12 hours or more, you can receive up to $300 in reimbursement for essential item purchases, including medication, toiletries, accommodation and food.*

Covered reasons include:

• Inclement weather
• Terrorist action or hijacking
• Common carrier equipment failure
• Lost or stolen passports or travel documents

As long as you pay for your common carrier fare using your Amex Business Gold Card, you and your family will receive coverage.

Keep in mind that following situations will exclude you from coverage:

• Covered losses that are made public or known to you prior to your departure
• Expenses paid prior to your trip
• Losses due to intentional acts on your behalf
• Any expenses that aren’t authorized and reimbursable by your employer if you make purchases using a commercial card

Car Rental Loss and Damage Insurance

If you decline the collision damage waiver (CDW) at the rental counter and charge the entire rental car cost to your Amex Business Gold Card, you’ll benefit from automatic car rental loss and damage insurance.*

This perk provides secondary coverage and insures you up to $50,000 in the event of collision damage or theft.

Even if you were to rent a car for just several days of the year, this benefit alone could provide you with insurance savings.

Notable exclusions to the policy include the following:

• Vehicles older than 20 years or that haven’t been manufactured in 10 years or longer, off-road vehicles, mopeds, motorcycles, cargo vans, custom vans, vans capable of seating more than eight passengers, trucks with a gross vehicle weight greater than 10,000 lbs and recreational vehicles
• Theft or damage due to intentional acts, or due to the driver(s) being under the influence of alcohol, intoxicants or drugs
• Wear and tear, gradual deterioration or mechanical breakdown
• Items not installed by the original manufacturer
• Damage due to off-road operation of the rental vehicle
• Theft or damage due to hostility of any kind, such as war
• Confiscation by authorities
• Any expenses reimbursed under your personal auto insurance policy, your employer or your employer’s insurance
• Obligations you assume under any other agreement
• Leases, mini leases and car-share services
• Any violation of the auto rental agreement

Cell Phone Protection

If you pay your monthly wireless bill using your Amex Business Gold Card, you’ll be covered up to $800 in the event of theft or damage to your cell phone.*

This is an added benefit of the Amex Gold that’s seen on only a handful of other credit cards.

You can make up to two claims every 12 month period, with a $50 deductible per claim.

Extended Warranty

When you buy eligible goods manufactured in the U.S. with a warranty of five years or less using your Amex Gold Card, you’ll have the warranty extended by one additional year.*

Purchase Protection

When you purchase an eligible product using your Amex Gold Card, you’ll be covered for up to 90 days in the event of theft or accidental damage.*

You’ll receive up to $1,000 in coverage per eligible item, with a maximum limit of $50,000 per card member per calendar year.

Benefits of Using the Amex Business Gold Card

Let’s put the bonus categories and perks of the Amex Business Gold card into action to see how they could benefit you.

Maximizing Point Earnings

The standout feature of the Amex Business Gold Card is its potential to earn you points on its bonus spending categories.

With a spending cap of $150,000 in the 4X points category, you could earn up to $6,000 worth of Amex points (assuming you hit the minimum spend and redeem your points for at least 1 cent apiece).

To maximize your point earnings, focus on two of the six available 4X points categories during any given billing cycle. That way, you can concentrate your spending better in these categories to max out your point-earning potential.

Similarly, when it comes time to book a flight or hotel, consider whether it’s worth using your Amex Business Gold card to pay for it through AmexTravel.com. Generally speaking, if cash prices are low, it can make sense to pay for the flight or hotel instead of using points. You’ll save your points for sweet-spot redemptions when cash prices run higher, while earning 3X points per dollar spent along the way.

Credits and Protection

While the Amex Business Gold doesn’t offer much in the way of luxury travel perks, it makes up for it in statement credit and travel protection perks.

The included $155 Walmart and flexible $240 Grubhub, FedEx or office supply store credits can go a long way in saving you money and offsetting the annual fee.

Likewise, trip delay insurance, baggage protection, cell phone protection and car rental loss and damage insurance can save you a significant amount by preventing you from needing to take out separate insurance policies. Not to mention, these perks can also help give you peace of mind, keeping you protected.

American Express Business Gold Card Annual Fee

Here’s a breakdown of the Amex Business Gold Card’s fee structure.

Amex Business Gold Card: Fee Structure Breakdown

The Amex Business Gold Card comes with an annual fee of $375, making it a mid-tier business card.

To add employee cards, you’ll pay an annual fee of $95 for the first five and then $95 per additional card thereafter.

Amex Business Gold Card: Cost-Benefit Analysis

While $375 per year isn’t cheap, let’s look at how you can go about offsetting the annual fee through the card’s perks and spending.

In the first year of card membership, earning the welcome offer will more than offset the card’s annual fee. The Amex Business Gold’s welcome offer can be anywhere between 70,000 and 175,000 points (though a maximum of 100,000 points is the norm), meaning you could expect a return value between $700 and $1,750.

The minimum spending requirement is typically around $15,000 for the Amex Business Gold Card. For some businesses, hitting this threshold won’t be much of a challenge. However, for others, it might be worth forecasting your spending so that big purchases and expenses fall within the welcome offer timeframe. You’ll avoid feeling pressure to overspend and instead have your organic expenditure do the work for you.

With that said, how easy is it to offset the Amex Business Gold Card’s annual fee in subsequent years?

If you can take advantage of both of the card’s statement credits—for Walmart and Grubhub, FedEx or office supply stores—then offsetting its annual fee is a piece of cake. Both statement credits add up to $395, allowing you to offset the annual fee by $20.

However, something to keep in mind is that both statement credits are issued monthly. For the Walmart+ membership statement credit, that isn’t a big deal. But for the flexible business credit, that means you’ll need to ensure you spend at least $20 at one of the eligible merchants every month to maximize the full value of the $240 statement credit—otherwise, you’ll miss out on savings.

If the card’s statement credits don’t fit your spending habits, offsetting the annual fee will require you to spend a lot more with the card. Otherwise, it may also be a good idea to consider other cards with perks better aligned with your spending habits and travel goals.

You’d need to spend at least $9,875 in the 4X points category every year to break even on the annual fee. For big spenders, this might be easy—and if that’s the case, the Amex Business Gold Card could be the perfect match. Otherwise, you should turn your search to other business cards.

Comparison with Competitors

If the Amex Business Gold Card doesn’t fit your spending habits, not to worry—there’s plenty of other business credit cards to consider.

For example, for an annual fee of $395, the Capital One Venture X Business Credit Card offers premium travel benefits.

With the Venture X Business, you’ll enjoy complimentary Priority Pass Select™ membership, giving you access to more than 1,300 airport lounges across the world, as well as a $300 statement credit for travel purchases through Capital One Travel. You’ll also receive a statement credit of up to $100 for either a Global Entry or TSA PreCheck® membership, allowing you to speed through immigration and security lines.

If you want the flexibility of the Amex Business Gold Card but with a lower annual fee, the Ink Business Preferred® Credit Card offers similar bonus spending categories for $95 per year. You’ll earn 3X points per dollar spent on the first $150,000 spent in combined purchases in the following business categories:

• Advertising purchases made through social media sites and search engines
• Cable, internet and phone services
• Shipping purchases
• Travel

After that, you’ll earn 1X point per dollar spent for the remainder of the calendar year.

Alternatively, if you want to avoid annual fees altogether without skimping on competitive rewards, the Blue Business® Plus Credit Card from American Express offers 2X Membership Rewards points per dollar spent on up to $50,000 per year (1X point thereafter).

Is the Amex Business Gold Card Your Ultimate Business Partner?

So, is the Amex Business Gold Card worth it?

If you can make its bonus spending categories work for you, the Amex Business Gold Card can earn you significant rewards. You can put these rewards to work for some serious award travel, enabling you to play as hard as you work.

But if high annual fees or a lack of premium travel benefits dissuade you from choosing the Amex Business Gold Card, consider one of the alternatives suggested above, to get you closer to big rewards and more frequent travel.

* Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.