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The Business Gold Rewards Card from AmEx: Choice and Flexibility

Business Credit Cards, Credit Cards
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The Business Gold Rewards Card from AmEx: Choice and Flexibility

The most valuable feature of The Business Gold Rewards Card from American Express OPEN can be summed up in a single word: choice. The small-business charge card, which has an annual fee of $0 for the first year, then $175, features customizable rewards and no preset spending limit. It’s the more practical version of its fancy sibling, The Business Platinum® Card from American Express OPEN.

If you’re looking for a utilitarian card with a side of gravitas, it’s a strong pick.

The Business Gold Rewards Card from American Express OPEN

The Business Gold Rewards Card from American Express OPEN

Apply Now on American Express's secure site
  • Recommended Credit Score
  • 690
    850
    Good - Excellent
  • Card Details
  • Pros

    • No foreign transaction fee

    Cons

    • Has annual fee

    Annual Fees

    $0 for the first year, then $175

    APR

    • Purchase: N/A

    Bonus Offers

    Welcome Offer: Earn 50,000 Membership Rewards® points after you spend $5,000 in purchases on the Card within your first 3 months of Card Membership. Terms Apply.

    Intro APR

    • N/A
  • Additional Information
    • Welcome Offer: Earn 50,000 Membership Rewards® points after you spend $5,000 in purchases on the Card within your first 3 months of Card Membership
    • Get 3x points - Choose 1 out of 5 categories
    • Plus, 2X points on the 4 remaining categories and 1X points on other purchases
    • 3X and 2X apply to the first $100,000 in purchases in each of the 5 categories per year, 1X point per dollar thereafter
    • Track, organize, and stay on top of your business expenses with powerful expense-tracking tools
    • No foreign transaction fees
    • $0 introductory annual fee for the first year, then $175
    • Terms and limitations apply

Why you may want The Business Gold Rewards Card from American Express OPEN

You want to choose your own bonus category

The Business Gold Rewards Card from American Express OPEN offers some latitude in earning rewards. You can select the card’s highest bonus category from the following list:

  • Airfare purchased directly from airlines
  • Advertising in select media
  • Gas stations
  • Shipping
  • Computer hardware, software and cloud computing purchases made directly from select providers

On up to the first $100,000 spent in each category, you’ll get 3 points per dollar spent on your chosen category and 2 points per dollar in the remaining four categories. You’ll earn 1 point per dollar spent after that. You’ll also get 1 point per dollar spent on everything else. You can make your bonus category selections once a year. Terms apply.

This is a decent rewards rate — especially when supplemented with American Express’ OPEN Savings benefit, which offers discounts or bonus rewards at certain merchants.

You need more purchasing power

The Business Gold Rewards Card from American Express OPEN is a charge card. Like other charge cards, it differs from credit cards in two key ways:

  • It generally requires payment in full each billing cycle.
  • AmEx doesn’t preset a spending limit for you. This means that your purchasing power adjusts to your past use of the card, credit, financial resources and other factors. Generally, this allows you to spend more than you might be able to on a card with a fixed limit.

That comes in handy for small businesses with high operating expenses. With The Business Gold Rewards Card from American Express OPEN, you don’t need to worry about maxing out the card with a big inventory order.

You want a big sign-up bonus and special access to events

The Business Gold Rewards Card from American Express OPEN promises big value right away with a generous sign-up bonus. AmEx describes it this way: “Welcome Offer: Earn 50,000 Membership Rewards® points after you spend $5,000 in purchases on the Card within your first 3 months of Card Membership. Terms Apply.” Among small-business cards, this is one of the more valuable welcome bonuses available. You might even qualify for a higher bonus through NerdWallet’s prequalification tool.

The card also offers access to the American Express Preferred Seating benefit, which is available only on AmEx’s higher-end cards. You can nab tickets to sought-after concerts, musicals and other events through AmEx’s Preferred Seating website.

Why you might want to go with another card

You travel like a boss

The Business Gold Rewards Card from American Express OPEN can be a practical choice for entrepreneurs based in one city. But if you’re a jet-setting executive, you might want a card with superior travel benefits.

The Business Platinum® Card from American Express OPEN might be your best bet, in this case. For an annual fee of $450, it comes with higher rewards rates, access to airport lounges all over the world, an airline fee credit and other VIP benefits.

Simplicity is important to you

American Express has a knack for making rewards complicated. Just try reading about the spending caps and annual selection period rules for The Business Gold Rewards Card from American Express OPEN without muttering “For heaven’s sakes!” under your breath.

For a more straightforward rewards system, consider the Capital One® Spark® Cash for Business. It offers unlimited 2% cash back rewards on everything, with an annual fee of $0 for the first year, then $59. In many cases, this flat rewards rate could help you earn more than The Business Gold Rewards Card from American Express OPEN.

Is The Business Gold Rewards Card from American Express OPEN right for you?

If you’re looking for simple rewards or ultra-high-end benefits, this card isn’t the best pick. But if your business spends plenty, and you want to choose your own bonus categories, The Business Gold Rewards Card from American Express OPEN is a winner.

Claire Tsosie is a staff writer at NerdWallet, a personal finance website. Email: claire@nerdwallet.com. Twitter: @ideclaire7.