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Amex Business Gold Card

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Late last year, we all found out the *biz gold* was getting a facelift, with a slew of new benefits … and of course, a higher annual fee to go with it. As of Feb. 1, 2024, the annual fee jumped from $295 to $375 (see rates & fees). Think you're not eligible for a small business card like this one? You just might be!

The changes to the Business Gold card include new spending categories in which you can earn 4x Membership Rewards points per dollar spent and a few new money-saving monthly statement credits, which should be familiar to many Amex cardholders. But it's not all good news: Amex is also removing a few existing bonus spending categories on the card while nixing a valuable 25% rebate when booking select flights with points through the Amex Travel Portal.

It's the first major overhaul of the card we've seen in nearly five years. Plus, American Express is now offering a new Rose Gold version of the Business Gold card – something that's been offered on the personal version of the card for the last few years.

Read on to see what changed and why now might be the right time to pick this card up.
*biz gold*

 

Learn more about the *biz gold*.

 

Changing Categories to Earn 4x Points

One of the absolute best benefits on the *biz gold* is the ability to earn a whopping 4x Membership Rewards for every dollar you spend in the two select categories where you spend the most each billing cycle.

Best of all, you don't need to do anything to ensure you're getting the 4x bonus: Amex automatically determines which two categories you spent most in and gives you the bonus Membership Rewards for every dollar you spent.

With the refresh, American Express added a few additional categories to earn 4x points – but also took away a few others. Here are the card's current 4x bonus categories, whether you pick up the card right now or on Feb. 1:

  • U.S. purchases for advertising in select media (online, TV, radio)
  • U.S. purchases made from electronic goods retailers and software & cloud system providers
  • Monthly wireless telephone service charges made directly from a wireless telephone service provider in the U.S.
  • U.S. purchases at gas stations
  • U.S. purchases at restaurants, including takeout and delivery
  • Transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses & subways

No matter which categories you wind up earning 4x points per dollar spent, bonus rewards are capped at a combined $150,000 in spending each calendar year.

 

Amex Cuts the 25% Airline Pay with Points Rebate

One negative change stands above the rest: Amex cut the 25% Membership Rewards points rebate for flights booked Amex Travel.

Previously, you could use your points to book a flight through the bank's online travel portal and cardholders would get a credit of 25% of the price you paid in points right back into your account (up to 250,000 bonus points per year). That rebate worked for any first or business class flight, or all flights with your chosen airline.

Thankfully, a similar benefit still remains on *biz platinum*.

 

Earn 3x Points via Amex Travel

Travel booked through Amex's travel portal has historically earned only 1x point per dollar spent – but not anymore.

As part of this update, prepaid purchases for flights and hotels made through Amex Travel with your Business Gold card now earn 3x Membership Rewards points per dollar spent. That's on par with what you'll earn on the personal Amex Gold Card.

 

A New $240 Flexible Business Credit

The Business Gold Card also has a brand new annual $240 flexible business statement credit, which is doled out in $20 increments each and every month.

You can use this new credit for purchases at the following retailers:

  • FedEx
  • Grubhub
  • Office Supply Stores

Just be sure to enroll in this new benefit before making your purchase. You can do so by heading to your online Amex account on the benefits tab.

Like most Amex credits, this is a use-it-or-lose-it benefit. Any unused amount you have remaining at the end of each month will be forfeited.

Thrifty Tip: Office supply stores sell a whole lot more than just office supplies.

 

A New Walmart+ Membership Credit

The Amex Business Gold Card is taking a page out of the playbook of *amex platinum card* by offering a new monthly credit of up to $12.95 (up to $155 annually) to cover the cost of a Walmart+ membership.

Nothing says “premium travel small business credit card” like a Walmart subscription, right? Odd or not, there are some decent perks with a Walmart+ membership that could make it worth signing up for if you hold an Amex Business Gold Card, including:

  • Free next-day shipping from Walmart.com, with no order minimums
  • Free local delivery of groceries and other items, with a $35 order minimum
  • Discounts on prescriptions from Walmart pharmacies, with savings of up to 85% (according to Walmart)
  • Save 5 cents per gallon on gasoline from Walmart and Murphy stations.
  • Skip the checkout lane: Scan your items with your phone using the Walmart app, pay, and go.

Plus, a Walmart+ membership now gets you free Paramount Plus for at-home streaming of popular channels like CBS, Comedy Central, MTV, BET, and Nickelodeon as well as many live sports events and movies.

Just head to Walmart.com/plus and pay for your membership with your Business Gold Card. The statement credits should kick in automatically.

 

A New Rose Gold Card Design

Back in 2021, American Express announced the return of its Rose Gold card for personal *amex gold card* cardholders.

To date, it's been a smash hit. And now, the Business Gold Card comes with the option for the Rose Gold design, too. New applicants can now select between the traditional Gold and Rose Gold finish during the application process.
Amex Business Rose Gold Card

If you're an existing cardholder, you'll be able to request the new Rose Gold design by starting an online chat when logged into your American Express account.

 

A New Cellphone Insurance Protection Benefit

Add the Amex Business Gold Card to the list of American Express Cards that will provide a cell phone protection benefit.

So long as your cell phone line is listed on a wireless bill and the prior month's bill was paid for with your Business Gold Card, you're set. Business Gold cardholders can get reimbursed for the lesser of their repair or replacement cost following damage, such as a cracked screen or theft for a maximum of $800 per claim. You'll be on the hook for a $50 deductible for each approved claim, with a limit of two approved claims per 12-month period.
cell phone

The Business Gold card joins the long roster of Amex cards that already provide this benefit:

Related reading: My Experience with American Express Cell Phone Insurance Protection

 

A New Annual Fee of $375

As is almost always the case when banks refresh the benefits on a card, the annual fee is also increasing – and it's happening soon.

Starting with new applications received on or after Feb. 1, 2024, the Business Gold Card annual fee will increase from $295 to $375. This means there's still time to apply for this card and take advantage of all the new benefits for a full year, all while paying the old annual fee!

If you're an existing Business Gold cardholder, your annual fee won't reflect the new higher rate until your first renewal date after Feb. 1, 2024.

 

Our Analysis

Adding new monthly credits as a means for justifying an annual fee increase has been a big part of Amex's playbook over the last handful of years. This update to the Business Gold Card fits that to a T.

Both the Amex Platinum and Business Platinum are chock full of monthly statement credits that can help cardholders justify their massive annual fees. The same goes for the personal *amex gold card* – a card in which getting value out of the $250 annual fee (see rates & fees) relies heavily on taking advantage of the monthly statement credits it provides.

If you were already getting value out of the Business Gold card at a $295 annual fee price point, these updates shouldn't change that. You'll just need to work a bit harder to justify that $80 annual fee increase.

If you can take advantage of the new $20 monthly flexible business credit for purchases at FedEx, GrubHub, or office supply stores you should have no problem coming out ahead on the higher annual fee.

Unfortunately, this overhaul isn't all good news. The loss of certain valuable 4x spending categories and the end of the 25% Pay with Points rebate could be major downgrades for some travelers who have relied on both perks over the years.

 

Full Benefits of the American Express® Business Gold Card

  • Welcome Offer: bonus_miles_full, though you can find targeted offers of 110,000 points or even 150,000 points elsewhere!
  • 4X Membership Rewards Points: Get 4x Membership Rewards points per dollar spent in select business categories including advertising, technology purchases, at gas stations, restaurants, electronic goods retailers, wireless phone services, and transit purchases.
  • $240 Flexible Business Credit: Get a statement credit of up to $20 each month for eligible U.S. purchases at FedEx, GrubHub, or office supply stores.
  • $155 Annual Credit for Walmart+: Get up to $12.95 to cover the cost of a Walmart+ membership.
  • Cell Phone Insurance Protection
  • No foreign transaction fees
  • $375 Annual Fee: Starting with new applications on or after Feb. 1, 2024.

 

*biz gold*

 

Learn more about the *biz gold*.

 

Bottom Line

Amex's overhaul of the Business Gold Card added new monthly statement credits and bonus spending categories in exchange for a higher annual fee. But it's not all good news: Some other spending categories went away with these changes, along with a valuable 25% rebate when using points to book select flights via Amex Travel.

Most importantly, the card's $295 annual fee went up to $375 a year.

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.

5 Responses

  • Thanks for the heads up Nick. Just to be careful on the 4x spending categories. For instance, if you high spend on airlines, restaurants, and gas, you will only get the two highest spent categories, like you mentioned. If restaurants and gas come in higher than airlines, I believe you will only get 1x for airlines when you could get much higher on some other card?

    • That is correct. But one point of clarification, 4x on airline spending is going away with this update.

  • If you’re hitting the $150k spend it’s likely due to shipping. This sucks and we will likely be dropping the card.

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