Video Sunday Reader Question: Replacing Business Gold Rewards With Another Point Earning Amex Card

Apr 21, 2013

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TPG reader Rachel has had the Business Gold Rewards card for a while, but is looking to open a new point earning American Express card:

“I have a Business Gold American Express card that I signed up for some time ago in order to get the points – I really don’t need it though as I don’t run a business or travel much. I do have Membership Rewards points and would like to keep them. 

I just signed up for a Delta American Express card as we’re flying Delta this summer and I wanted the free baggage allowance

I was told that I can transfer my points to the Business Green at $75 per year or the Business Green Rewards card at $95 per year. I can’t seem to get the info on the American Express site to come up on these cards comparing them to each other but it seems they both offer points. Which American Express card would you recommend?”

Let me start off by saying, if you cancel a Membership Rewards-earning card and don’t have any other Membership Rewards eligible cards open, you will lose all points that you have in your account.

I noticed from some of the responses in our TPG Spring Cleaning Contest that many people were unaware of this and ended up losing thousands of hard-earned points that they couldn’t get back. So make sure before you close your Business Gold Rewards card that you either transfer the points out of your account or get approved for another American Express card that will earn you points.

What are the best Membership Rewards eligible cards out there?

Unfortunately, you will not be able to get in on the most recent offer for the Business Gold Rewards card that earns you 50,000 Membership Rewards points when you spend $5,000 in the first three months (and the annual fee of $175 is waived for the first year) since you already have it, and you missed out on a recent offer on the personal version of this card, the Premier Rewards Gold card for 50,000 points when you spent $1,000 in the first 3 months. The offer is now just 25,000 points when you spend $2,000 in 3 months. But you still have some options.

The next best choice, which I recently got approved for, is the Mercedes-Benz Platinum card where you earn 50,000 points after spending only $3,000 in the first 3 months of card membership. Although there is a hefty $475 fee per year, you receive several benefits that make up for it like a $200 airline fee credit, Global Entry reimbursement, airport lounge access, automatic Starwood Gold status, great purchase protection, and a $100 certificate good towards Mercedes-Benz accessories,.

My favorite American Express card is still the Premier Rewards Gold Card from American Express. Right now the sign up bonus is only 25,000 points after spending $2,000 in the first 3 months which isn’t great compared to the recent offer I mentioned above and which we might see again, so I would hold off on applying in case the bonus goes up in the near future. Similar to the Business Gold Rewards, this card has some bonus spending categories and earns 3x on airfare, 2x at US gas stations and US supermarkets, 1x on everything else but has a $0 Intro Annual Fee for the 1st year, then $195.

Keep in mind that although you do have the Gold Delta SkyMiles® Credit Card from American Express, it does not earn Membership Rewards points so you must transfer your points to a partner or get approved for one of the above cards first.  I hope this will be some useful advice for you and let me know what card you decide to go with!

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.