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American Express® Business Gold Card review: Generous welcome offer and high rewards rates

Kat Tretina
Updated 10 min read

Editor's note: Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Finding ways to stretch your dollars further is key if you're a business owner. With the American Express Business Gold Card, you can earn a high rewards rate on some of your most common spending categories, and there is a valuable bonus offer for new card members.

The card has a steep annual fee, but depending on your business' spending and travel habits, this business credit card could be well worth the investment.

  • Annual fee: $375 (see rates and fees)

  • Welcome offer: 70,000 Membership Rewards Points after spending $10,000 in the first 3 months

  • Rewards:

    • 4x points per dollar spent on your two top categories

    • 3x points per dollar spent on flights and prepaid hotels

    • 1x per dollar spent point on all other purchases

  • More details:

    • $240 flexible business credit: Earn up to $20 in statement credits per month when you use the card for eligible U.S. purchases at FedEx, GrubHub, and office supply stores

    • $155 Walmart+ Credit: The credit covers the cost of a $12.95 Walmart+ membership with a statement credit if you use the card to pay the monthly fee, up to an annual maximum of $155

The American Express Business Gold Card has a $375 annual fee. If you add employees to your account, you must pay an additional fee for the extra cards.

For those who apply for the card after February 1, 2024, the annual fee for employee cards is $95 for the first five cards and $95 for each additional card.

New card members can earn 70,000 Amex Membership Rewards Points if you spend at least $10,000 on eligible purchases within three months of opening the account. Purchases made with the primary card or employee cards count toward the $10,000 spending requirement.

The welcome offer can be worth up to $1,000, depending on how you redeem those rewards.

The spending requirement is relatively steep. However, business owners who may spend significantly on utilities, shipping costs, inventory, or office supplies could use their credit card to pay for those purchases to qualify for the welcome offer.

The American Express Business Gold Card does not offer an introductory APR for purchases or balance transfers.

With this card, you'll earn the following rewards:

  • 4x points per dollar spent on your top two spending categories. You'll earn four points per $1 spent rate on your top two categories for each billing cycle, up to a maximum of $150,000 spent per year. The qualifying categories are:

    • Advertising through U.S. media providers, online, or television

    • Purchases from U.S. electronic goods retailers or software or cloud service providers

    • Restaurants in the U.S., including takeout or delivery

    • Gas purchased at U.S. gas stations (gas purchased at supermarkets, wholesale clubs, or superstores aren't eligible for the 4x rewards rate)

    • Transit, including trains, cabs, rideshare services, tolls and parking fees

    • Wireless U.S. telephone service charges

  • 3x points per dollar spent on flights and prepaid hotels booked through AmexTravel.com

  • 1x points per dollar spent on all other purchases

Depending on your spending habits, your rewards could outpace the card's annual fee. For example, say you spend $10,000 per year on online advertisements. Those transactions earn rewards at the rate of four points per dollar spent, so you'd earn 40,000 points. If you redeem those Membership Rewards points for gift cards or travel, they would be worth up to $400 — more than the annual fee.

To earn rewards with this card, use it for your major business spending categories. You can get the most value if you spend a significant amount of money on advertising, software or computers, dining out, or transit.

If you or your employees frequently travel for work, book your flights, or hotel stays through AmexTravel.com to get the most points for your reservations.

There's no limit to how much you can earn in cash back. However, you can only earn four points per $1 spent on up to $150,000 in combined spending; once you reach that limit, additional purchases will earn one point per $1 spent.

As an American Express Business Gold Card member, your points are generally worth one-half to one cent each, and your point value depends on the redemption method. You can redeem your points in the following ways:

  • Gift cards: You can redeem your points for gift cards from major hotel chains, retailers, and restaurants. Values vary by merchant, but you can get up to one cent for each point redeemed.

  • Pay with points at checkout: Some retailers, such as Staples, Best Buy, and Amazon, allow you to use your points to pay for some or all of your purchase at checkout. However, your points are typically worth less with this redemption method; each point is worth about 0.7 cents.

  • Point transfers: For frequent travelers who belong to loyalty programs, transferring your points can help maximize your credit card rewards. You can transfer your points to partner programs like Hilton Honors or Delta Airlines, and your points will be worth more than if you redeemed them in other ways.

  • Statement credits: You can redeem your points for statement credits to cover eligible charges or reduce your balance. However, this redemption method has the lowest value; each point will be worth just 0.6 cents.

  • Travel: You can redeem your points through AmexTravel.com and book flights, cruises, and hotel stays. If you redeem your points for flights, each point will be worth about one cent, but other travel bookings, such as reserving prepaid hotels or rental cars, will give you less value for your points.

Redeeming your points for travel, gift cards, or transferring to a loyalty program will give you the most value for your rewards.

The American Express Business Gold Card offers robust benefits for business owners and employees. Benefits include:

  • Baggage insurance*: If your baggage is lost or stolen and you used your card to pay for your fare on a common carrier, the card will reimburse you up to $1,250 for carry-on baggage and up to $500 for checked luggage.

  • Car rental loss and damage waiver: Decline the rental company's coverage and pay for the entire cost of a car rental with your Amex, and you'll be protected by secondary collision and damage coverage.

  • Cell phone protection: Pay your cell phone bill with your Amex, and your phone will be covered against theft or damage. The benefit will pay out a maximum of $800, subject to a $50 deductible, and you can submit up to two claims per year.

  • Extended warranty protection: When you use the card to purchase electronics or other items with warranties of five years or less, extended warranty protection will lengthen the warranty by an additional year.

  • Global Assist hotline: If you need help while traveling outside the country, such as assistance with finding medical providers or legal help, you can contact the Amex Global Assist Hotline. However, you're responsible for any service fees a third party provides.

  • Purchase protection: Use your card when you purchase items, and the item is covered for 90 days against theft or accidental damage. This perk provides up to $1,000 of protection per occurrence, up to $50,000 per calendar year.

*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.

The American Express Business Gold Card is best suited for small- to medium-sized company owners who spend less than $150,000 on advertising, electronics, restaurant meals, or transit.

If your spending in those categories tends to be higher, another card with a higher cap may be better.

If you're a freelancer or own a smaller business with fewer expenses, the high annual fee may make the card too expensive for you. Instead, look for a card with a lower annual fee (or no fee).

  • No foreign transaction fees: Unlike many cards, the Amex Business Gold Card doesn't charge foreign transaction fees, making it a good choice if traveling or purchasing outside the U.S.

  • Added travel insurance: If you travel for your business, you can take advantage of added coverage like car rental insurance, baggage insurance, and the Global Assist Hotline.

  • Provides cell phone protection: Your cell phone is likely an essential tool for your work, and the latest smartphones can be expensive. The Amex Business Gold Card provides cell phone insurance so you can protect your investment.

  • No promotional APR: The American Express Business Gold Card has no promotional APR offer for balance transfers or purchases. Other options give you 0% APR for 12 to 18 months, allowing you to finance major purchases like software upgrades or computers with no interest for a year or more.

  • High spend requirement for bonus: To qualify for the new card member bonus, you must spend at least $10,000 within three months. Meeting that threshold may be difficult for solopreneurs or micro-business owners with limited cash flow.

  • Expensive annual fee: At $375, the annual fee on the American Business Card is relatively high. It may not be worth the expense unless you can take advantage of all of its spending categories and benefits.

The American Express Business Gold Card is part of the American Express network — the fourth-largest credit card network. Amex is accepted by most businesses in the U.S., but internationally, its acceptance rate is lower than that of Visa or Mastercard. However, the company said its cards are accepted in 103 countries.

You can make a payment online, through a mobile app, phone, or through the mail.

  • Online

  • Mobile app

  • Phone: 1-800-472-9297

  • Mail: American Express P.O. Box 96001 Los Angeles, CA 90096

If the annual fee of the American Express Business Gold Card is too high for you, consider these alternative business credit cards:

Why we like it: The Ink Business Cash Credit Card is a useful option for freelancers and small business owners. Unlike the American Express Business Gold Card, it has no annual fee, and you can receive a 10% Business Relationship Bonus If you have the Ink Business Cash card and a Chase Business Checking account on your first card anniversary. Plus, it gives you 0% APR for 12 months on purchases, making it a good choice if you need to purchase expensive supplies. Once the promotional APR ends, the regular variable APR of 18.49% to 24.49% applies.

Why we like it: If you're looking for a basic business credit card, the Blue Business Plus Card has no annual fee, and it has a welcome offer for new cardmembers that's much more attainable than the Amex Business Gold Card's offer; you can get 15,000 Membership Rewards Points if you spend at least $3,000 within the first three months of opening an account.

Why we like it: The American Express Business Gold Card offers valuable rewards, but its rewards structure can be complex and challenging to manage. The Capital One Spark Miles for Business is much simpler; you'll earn two miles per $1 spent on all purchases and five miles per $1 spent on hotels and rental cars booked through Capital One Travel. The card has no annual fee for the first year; a $95 fee applies after that.

Can’t decide on a credit card? Check out Yahoo’s best credit card picks

This article was edited by Rebecca McCracken

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers.