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Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
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Amex Business Gold changes: New perks for a higher annual fee
Emily Thompson specializes in beginner content as a credit cards editor. She taps into her prior experience as a high school English teacher to help others demystify credit scores and unlock experiences that credit card rewards can make possible.
October 3, 2023 • 7 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.
Editorial note: This article previously indicated that only Grubhub delivery purchases were eligible for the new flexible business credit based on incorrect information sent to our compliance team. We have updated it accordingly.
Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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Quick summary
A popular business rewards card has been refreshed with new bonus categories, expanded statement credits and enhanced cellphone protection.
The card now offers additional bonus rewards for transit and wireless service purchases, but no longer includes bonus rewards for airfare bought directly from airlines or shipping.
Annual statement credits are available for select merchants and services, potentially offsetting the increased cost of holding the card.
A rose gold design option is now available, and higher earning rates apply to travel booked through the issuer's travel portal.
What to consider
The annual fee will increase for new and existing cardholders starting February 2024, but current members can access new benefits before the fee rises.
Statement credits require eligible purchases at specific merchants and may not be fully utilized by all cardholders.
Cellphone protection is included, with reimbursement limits and a deductible per claim; eligibility and coverage details apply.
What you'll miss from the article
A detailed breakdown of which spending categories have changed, how to maximize new statement credits and the trade-offs involved in booking travel through a portal versus directly.
Generated by AI with support from our editorial team.
Update: Some offers mentioned below are no longer available. View the current offers here.
The American Express® Business Gold Card has been a popular choice for business owners for many years. Cardholders love earning bonus rewards that automatically apply to their top two spending categories and the ability to add up to 99 employee cards for no additional cost.
And now, Amex has announced a refresh to the card, with new bonus categories, available statement credits and a higher annual fee. All changes are effective immediately, except for the increased annual fee, which goes into effect in February 2024.
Here's what you need to know about the Amex Business Gold Card to determine whether these changes are positive or negative for your small business.
Higher annual fee
As we've come to expect with a card refresh, one of the card's changes is a higher annual fee. As of Feb. 1, 2024, the Amex Business Gold's annual fee will be $375 — an $80 increase from its current $295 annual fee (see rates and fees).
Spending category changes
The Amex Business Gold bonus category structure remains the same: You'll earn 4 points per dollar spent on your top two spending categories each billing cycle (on up to $150,000 in combined spending). However, there are some changes to the available bonus categories.
ISABELLE RAPHAEL/THE POINTS GUY
The refreshed card has two new bonus category options:
The Amex Business Gold will now earn 3 points per dollar spent on flights, prepaid hotels and prepaid flight and hotel packages booked through Amex Travel or AmexTravel.com.
On the surface, this seems like a positive change since the card previously earned 2 points per dollar spent on travel booked through Amex Travel. However, cardholders no longer receive a 25% rebate when they Pay with Points, and most won't earn enough with these increased rates to make up for the loss of this rebate value.
ROCKAA/GETTY IMAGES
Additionally, booking through Amex Travel is often more expensive than booking directly with an airline or hotel, so this change still doesn't make up for the loss of the option to earn bonus points on airfare purchased directly from an airline.
Also, keep in mind that there are some cons to booking through a travel portal, including more difficulty changing travel plans and forfeiting elite status perks, that make this change far less exciting than it initially appears.
Until now, a common critique of the Amex Business Gold was that, unlike its personal counterpart, it didn't come with any statement credits that could help offset its annual fee.
RYAN PATTERSON/THE POINTS GUY
Those critics will rejoice to see that Amex Business Gold cardholders now get up to $395 in statement credits annually:
Up to $240 back annually ($20 per month) for eligible purchases at FedEx, Grubhub and office supply stores
Up to $155 back annually ($12.95 per month) for a monthly Walmart+ membership
If you're able to maximize these statement credits, they more than make up the card's increased annual fee. The FedEx credit is especially good news for anyone who uses FedEx for shipping and was disappointed to see shipping drop off the card's available bonus categories.
Those who don't ship with FedEx should still be able to maximize the $240 in annual credits through a combination of Grubhub and office supply store purchases. Even if you don't already subscribe to Walmart+ and won't save with that credit, maximizing $240 in credits will bring your effective annual fee down to just $135. If you're already a Walmart+ subscriber and will save money with the full $395 in annual credits, you'll more than recoup the card's $375 annual fee.
The Amex Business Gold now comes with cellphone protection. As a cardholder, you can be reimbursed for your cost to repair or replace your stolen or damaged cellphone for up to $800 per claim (on up to two approved claims per year, with a $50 deductible applied to each claim).*
D3SIGN/GETTY IMAGES
Of course, this won't save you much money if you don't need to use it, but it will provide peace of mind and may allow you to cancel any other cellphone insurance plans you're already paying for.
*Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.
The fan-favorite rose gold option on the personal Gold card is now available for the Amex Business Gold. This isn't a value add for everyone, but it's great news for those of us who love the look of a rose gold card in our wallets.
No change to welcome offer
Unfortunately, the card refresh doesn't come with a new welcome offer. New Amex Business Gold cardmembers will still earn 70,000 Membership Rewards points after spending $10,000 in the first three months of card membership.
MARKO GEBER/GETTY IMAGES
Even so, this bonus is worth $1,400 based on TPG's valuations, so it continues to add significant value for new cardholders.
The refreshed Amex Business Gold Card has new bonus categories, higher earning on Amex Travel, up to $395 in annual statement credits, cellphone protection and a rose gold option. However, these changes come with an increased $375 annual fee effective Feb. 1, 2024, plus the loss of some bonus categories and the 25% rebate when you book travel through Amex Travel and Pay with Points.
Whether these changes are beneficial or detrimental depends on your business spending habits. However, businesses that can take advantage of the statement credits will almost certainly see these changes as positive.
Aside from the higher annual fee, these changes are already in effect, meaning current and new cardmembers can take advantage of the monthly statement credits and expanded bonus categories without paying a higher annual fee between now and Jan. 31, 2024.
Apply here: Amex Business Gold Card
For rates and fees of the Amex Business Gold, please click here.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
