The Amex Business Gold Card can earn you up to 4 points per dollar across a wide range of spending categories.
If you run a business and love to travel, you should know about the American Express Business Gold Card. The new and improved version is best for business owners and managers who regularly travel for business. Because the card rewards you in the categories where you spend the most, it's a good fit for a wide range of businesses.
Annual fee: $295
Welcome bonus: Get up to $500 back in the form of statement credits by purchasing qualifying services with FedEx in the first three months
Points earning: 4x points on the two categories where your business spends the most each billing cycle from the following list: airfare purchased directly from airlines, US purchases for advertising in select media, US purchases made directly from select technology providers of computer hardware, software, and cloud solutions, US purchases at gas stations, US purchases at restaurants, US purchases for shipping (and 1 point per dollar on everything else)
Foreign transaction fee: None
If your business uses shipping services, you'll want to know about a limited-time deal for new cardholders at American Express. You can get up to $500 in statement credits for purchases at FedEx in the first three months after opening a new account.
This perk alone can be worth more than the first year's annual fee and then some. You have to apply by November 6, 2019 to qualify.
Read more: The best current credit card sign-up bonuses
American Express Membership Rewards points are among the most valuable to travel rewards enthusiasts. The Points Guy pegs the value of Amex points at about 2 cents apiece. When you earn at the top rate, that's like getting 8% cash back if you redeem at the 2-cents-per-point rate.
The card offers the 4x rate on the two categories you spend most each month. Categories include:
The 4x rate is good up to $150,000 in combined annual purchases. Beyond that point, you'll get the same 1-point-per dollar you get on standard purchases. If you maximize the bonus, you'll take home 600,000-plus points per year.
When you redeem points to book flights with American Express Travel, you'll get 25% of your points back, up to 250,000 points back per calendar year. To be eligible for this rebate, you need to pay with points to book a first- or business-class seat, or book a seat in any class with your selected qualifying airline.
When redeeming at Amex Travel, points are worth 1 cent each. The 25% rebate boosts that to 1.25 cents per point.
Keep in mind that you may be able to get 2 cents per point or more when you transfer to airline partners. Top airline partners with a 1:1 transfer rate include Delta, Singapore, Etihad, and Emirates, among other global airlines.
Also, look at British Airways, JetBlue, and other partners when booking travel, as they may offer a better deal even though they don't include the 25% rebate.
As a premium American Express card, the Business Gold card comes with a wide range of travel insurance and purchase protections. You won't want to make a business purchase with cash or debit if you have this card available.
For travel, benefits include no foreign transaction fees, access to the Global Assist Hotline, roadside assistance, baggage insurance, travel accident insurance, and rental car insurance.
At the checkout counter or online shopping cart, you get an automatic extended warranty, purchase protection, and return protection.
Never underestimate the value of this type of benefit. For a week-long business trip, the auto rental insurance alone could easily be worth $50 to $100. Just keep in mind that this insurance is secondary, rather than primary, which means it kicks in after your own personal car insurance.
Credit cards with annual fees may scare you off, but if you take the time to understand what you get back it's easy to see why an annual fee can make sense. Between bonus points on everyday purchases, welcome bonuses, and benefits, the path to $300+ per year in value is crystal clear.
If you have a small business, this card should definitely be a contender for a prized slot in your wallet. If you're looking for even more premium travel benefits like airport lounge access, the Business Platinum® Card from American Express could also be worth a look, but that card has a higher $595 annual fee and more limited bonus categories.
Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.
Business Insider may receive a commission from The Points Guy Affiliate Network, but our reporting and recommendations are always independent and objective.
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Amex Business Gold review: Are the rewards and benefits worth the $295 annual fee?People always ask me how much money it takes to be wealthy, and after studying millionaires for 5 years I know what to tell themIt seems like every expert under the sun recommends an emergency fund, but I don't have one and I'm fine with that17 US states where it costs over $20,000 to dieCopyright © 2024. Times Internet Limited. All rights reserved.For reprint rights. Times Syndication Service.
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