Credit card review: American Express Business Gold Card

Jan 20, 2021

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American Express® Business Gold Card Overview

The American Express® Business Gold Card is a great choice for business owners looking to maximize their points earning from a single card, with 4x bonus categories that automatically reflect your highest spending areas each month. The biggest downside, though, is a relatively high annual fee — with no statement credits to offset it. Card Rating*: ⭐⭐⭐½

*Card Rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

Over the past few years, American Express has heavily revamped its card portfolio by adding and changing perks across the Green, Gold and Platinum cards. While the exact changes vary by card, the theme is pretty clear: Higher annual fees and more perks.

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The American Express® Business Gold Card certainly meets those criteria, with a $295 a year annual fee (see rates and fees) and a powerful business-friendly 4x bonus category. There’s great value to be found in the Business Gold Card, but Amex is also clearly targeting a narrower segment of the market with this product.

Related: Credit card showdown: Amex Gold vs. Amex Business Gold

In This Post

Who is this card for?

(Photo by Isabelle Raphael/The Points Guy)
(Photo by Isabelle Raphael/The Points Guy)

While many individuals with money-making side hustles are eligible to apply for business credit cards, the Amex Business Gold is targeted at larger businesses with more significant expenses. There are no statement credits to offset the annual fee, and overall, this card works better for a large company that can write off the expense than for a sole proprietorship that might not be able to spend that much money.

Those considerations aside, the Business Gold Card’s bonus categories and earning structure will appeal to a wide variety of businesses, as the categories encompass everything from spending at U.S. restaurants to U.S. purchases for advertising and select technology providers.

The structure of these categories, namely the fact that you’ll automatically earn 4x points in your top two spending categories from the list of eligible bonus categories (more on that later) on the first $150,000 in combined purchases each calendar year (then earn 1 point per dollar), means this card appeals to someone who wants to rack up travel rewards without putting in too much work. This card is intended to be a one-stop-shop that you can swipe for everything, leaving you more mental bandwidth to focus on your business.

Related: The best cards for each business credit card category

Welcome offer

For a while, Amex surprised many people by eschewing a traditional points-based bonus with the Business Gold Card, instead offering free business software to new applicants. Fortunately, the card now offers a points bonus with broader appeal.

New applicants can earn 70,000 bonus points after you spend $10,000 on eligible purchases in the first three months of account opening. TPG values Membership Rewards points at 2 cents each, making this bonus worth a solid $1,400. 

It’s also worth noting that if you have ever received a welcome offer for this card or the old Business Gold Rewards Card (what this product used to be called before the name change), you won’t be eligible for this offer. However, you will be able to product-change to this card from any of Amex’s business cards, such as The Business Platinum Card® from American Express and the Business Green Rewards Card from American Express. The information for the Business Green Rewards Card from American Express has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.


(Photo by JT Genter/The Points Guy)
Book the InterContinental Bora Bora Thalasso through the Amex Hotel Collection. (Photo by JT Genter/The Points Guy)

Perks of the Business Gold Card include double points on purchases made through Amex Travel and benefits when booking through the Amex Hotel Collection (double points and a $75 property credit on stays of two nights or more). You’ll also have access to Amex Offers and various travel, rental car and baggage insurance policies.

This card also offers several great tools to help you manage your business expenses. For a flat fee of $50 a year (waived the first year; see rates and fees), you can add up to 99 employee cards and earn points on their purchases. You can also easily designate an employee as an account manager, allowing someone other than the primary account holder to be responsible for reviewing statements, adding new employees and making payments. Amex also offers a receipt match feature, which lets you upload receipts from your desktop or mobile, tag and annotate transactions, and even sync this data with QuickBooks.

Unfortunately, there’s no type of statement credit to offset the card’s $295 annual fee (see rates and fees). Out of the entire middle to upper tier of Amex card offerings, this is the only serious contender with a high annual fee and no statement credits. You’ll have to make sure that you’re able to get more than $295 in value from the bonus categories and benefits alone, but many businesses should be able to do that.


food in Rome
Dining is one of the categories where you can earn 4x per dollar spent with the Amex Business Gold Card. (Photo by Christine Wehrmeier/Getty Images)

One of the unique features of the Amex Business Gold card is the way your bonus categories can shift every month to match your spending patterns. You’ll automatically earn 4x points in your top two spending categories each month, meaning you don’t have to pick a category and commit to it. If your spending habits fluctuate month to month, Amex will make sure you’re getting the most bonus points possible based on where you spend the most. The eligible categories are as follows:

Your 4x earning, which equates to an 8% return based on TPG’s valuation of Membership Rewards points at 2 cents each, is capped at $150,000 a calendar year across all bonus categories. The card earns 1x on all other purchases — i.e., everything that is not your top two monthly select spending categories. If you max out the $150,000 in spending a year, even by combining different bonus categories on a month-to-month basis, you’ll walk away with 600,000 Membership Rewards points, worth $12,000. This massive earning potential might be enough to encourage businesses to opt for this card, even without many valuable perks such as statement credits that customers are coming to expect these days.


This card earns full-fledged Membership Rewards points, which can be transferred to any of Amex’s 20 partners, including 17 airlines and three hotels. With all these options to pick from, you’ll be able to find a transfer partner in any of the three major airline alliances and for many non-alliance airlines as well.

Related: Best ways to redeem Amex points on Star Alliance airlines

You should also keep your eye out for one of the many limited-time transfer bonuses Amex runs. These can be a great way to supercharge the value of your points, getting 10-40% more miles when you transfer to partners such as British Airways, Virgin Atlantic, Aeroplan and more.

Nicky Kelvin Virgin Atlantic A350 Upper Class Suite LHR - JFK (72 of 73)
Use the points you earn on the Amex Business Gold card to book an Upper Class suite on Virgin Atlantic. (Photo by Nicky Kelvin/The Points Guy)

The Amex Business Gold Card is the third card in the Amex business card portfolio, following The Business Platinum Card from American Express and the Business Centurion card, to offer a Pay With Points redemption bonus. You’ll earn a 25% rebate when paying with points through your Business Gold Card (up to 250,000 points per calendar year), as opposed to 35% (when booking through with the Business Platinum (up to 500,000 points per calendar year) and 50% with the Business Centurion.

You do need to have the full amount of points in your account at the time of booking, but this option will let you lock in a minimum redemption value of 1.33 cents per point. As an added bonus, you’ll earn miles (and elite credit) on flights booked this way, as Amex books them as revenue tickets. This bonus is valid on business- and first-class tickets with any airline or all cabin classes (including economy) with the airline of your choice.

Related: The ultimate guide to Amex Pay With Points

Which cards compete with the Business Gold Card?

(Photo by Wyatt Smith/The Points Guy)
(Photo by Wyatt Smith/The Points Guy)

The most obvious competition to the Business Gold Card would be the Ink Business Preferred Credit Card. If you’re picking your next business card to top up your points balances, look no farther than the 100,000 Ultimate Rewards point sign-up bonus on the Ink Preferred (after spending $15,000 on purchases in the first three months of account opening). TPG values that bonus at $2,000, and it shouldn’t be hard for any business to get good value out of those points.

While the Ink “only” offers 3x on its business bonus categories  (travel, shipping, internet phone and cable and select social media advertising), it offers 3x on all of them on up to $150,000 a year, instead of only two bonus categories a month. It also has a much lower annual fee of $95.

The other competition comes from within the Amex family.  Despite a higher annual fee of $595 (see rates and fees), The Business Platinum Card® from American Express could actually be cheaper in the long term, thanks to its up to $200 annual airline incidental credit and its annual Dell statement credit of $200.

While it only has one bonus category (5x on flights and pre-paid hotels booked through Amex Travel), it comes with other premium perks such as Gold elite status with Hilton and Marriott, a Priority Pass Select membership and access to Centurion Lounges and other lounges around the world. If you’re in the market for a card that will enhance your travel experience top to bottom, the Business Platinum might give you more bang for your buck. Enrollment required for select benefits. 

Related: Choosing the best American Express credit card for you

Bottom line

The Amex Business Gold Card is certainly not for everyone, but for larger companies looking for a no-hassle, one-card strategy that still earns travel rewards, this could be a great option. Much of the mental calculus around this card boils down to how much you’re able to spend on the 4x bonus categories, and specifically whether you can spend enough to recoup your $295 annual fee (see rates and fees).

The 25% Pay With Points rebate is another great benefit to factor into your decision. In many ways, these changes represent an improvement to a card that didn’t have a clearly defined purpose before. While perhaps fewer businesses are likely to click with the new card, those that do are likely to be the exact customers Amex wants most: large, heavy-spending corporations. And for those companies, Amex has a solid value proposition in the Business Gold Card.

For rates and fees of the American Express Business Gold Card, please click here.
For rates and fees of the American Express Business Platinum card, please click here.

Additional reporting by Benji Stawski.

Featured photo by Isabelle Raphael/The Points Guy.

American Express® Business Gold Card
Apply Now
More Things to Know
  • Welcome Offer: Earn 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*
  • More Rewards: Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month. 1X is earned for other purchases. **
  • **4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year.*
  • Airline Bonus: Get 25% points back after you use points for all or part of an eligible flight booked with Amex Travel, up to 250,000 points back per calendar year.*
  • Pay Over Time Option: A flexible payment option with interest to help manage cash flow on purchases of $100 or more.*
  • *Terms Apply
  • See Rates & Fees
Regular APR
14.24% - 22.24% Variable
Annual Fee
Balance Transfer Fee
Recommended Credit
Terms and restrictions apply. See rates & fees.

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.