American Express Business Gold Rewards Card review

How the Business Gold earns points

The Business Gold uses a single earn rate: every purchase earns 1 point per dollar. There are no bonus categories or tiers to manage, which makes it easy to forecast what your business will earn from its regular spending and easy for staff to use without a set of rules.

As an example, a business that puts $5,000 a month of expenses on the card earns 5,000 points a month, or 60,000 points a year. At $10,000 a month, that rises to 120,000 points a year. Because the rate never changes, earning more simply means routing more of your spending through the card.

The welcome offer

American Express may offer a welcome bonus to new Business Gold cardholders, but the current listing doesn’t spell out a points total, a spending target or a deadline, so don’t count on a particular amount.

Before applying, check the American Express website for the exact points total, the spending target and the time you have to meet it. That way you can confirm your normal business spending will qualify without pulling purchases forward or buying things you don’t need.

Points and perks

Because points are earned at the same rate everywhere, the card works best as the main payment method for routine expenses such as supplies, software subscriptions and business travel. Consolidating spending on one card also makes it simpler to track what the business buys each month.

The card includes airport lounge access, which adds value if you or your team travel for work. Check American Express’s terms for which lounges are included and whether guests are covered before you count it as part of the card’s value.

Fees, interest and the fine print

The annual fee is $199. Because the card earns the same 1 point per dollar everywhere, the fee is easiest to justify in years when you make regular use of the lounge access, or in a first year when a welcome offer applies.

Purchases made in a foreign currency carry a 2.5% foreign transaction fee, so $1,000 spent with a supplier that bills in US dollars adds about $25. Purchases are charged 20.99% interest and cash advances 22.99%. Paying the full statement balance by the due date avoids purchase interest.

Who it suits, and who should look elsewhere

The Business Gold suits business owners who want one card for most expenses, prefer a flat earn rate to tracking categories, and expect to use airport lounges when travelling for work.

It’s a weaker fit if your business spends heavily in areas other cards reward at higher rates, such as gas or office supplies, buys often from suppliers that bill in foreign currencies, or deals with vendors that don’t take American Express.

How it compares

The BMO Ascend World Elite Business Mastercard costs $149 a year and earns up to 4x on gas, office supplies, and phone and internet bills, and it uses the Mastercard network, which suppliers accept more widely than American Express. If those categories make up a large share of your spending, it can earn more per dollar for a lower fee.

If you’d rather pay nothing, the BMO CashBack Business Mastercard has no annual fee, earns up to 1.5% cash back at gas stations and offers up to $150 cash back for new cardholders. You give up lounge access, but there’s no fee to cover each year.

Before you apply

The recommended credit score is 720 or higher, and American Express makes the final decision using your full credit profile. Because the welcome offer and fees can change, confirm the current terms on the American Express website before you apply.