The New Business Gold Card From American Express: What You Need to Know

The New Business Gold Card From American Express: What You Need to Know

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For years now, American Express has provided multiple quality business credit card offers, including American Express® Business Gold Reward Card (BGR). With no annual fee for your first year and a bundle of other perks, it has been a solid option for business owners. Today, American Express is launching a brand new Business Gold Card, a separate offer from BGR with a new and optimized rewards system to help the busy business owner.

Who it Affects

Because Business Gold is separate from Business Gold Reward, current BGR customers can choose to stay with their current card if they please. If they want to transfer to the new Business Gold, American Express

The changes are meant to help the hands-on business owner looking to maximize the best benefits for their business. Where the Business Gold Reward Card has been perhaps more broad, the Business Gold allows business owners to bring in rewards in the few areas they spend the most, and simplifying the process for busy, time-starved entrepreneurs.

Along with rewards come options to utilize business solutions to help benefit and streamline otherwise problematic processes during the course of business.

Two Choices for Current Cardholders

For Business Gold Reward cardholders, there are two choices, essentially. The Business Gold Reward system will enable them to earn more points with higher earning limits. The new Business Gold system, though with a lower ceiling on cash back earnings, will introduce new benefits to allow the business owner to get and do more.

American Express® Business Gold Card
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American Express® Business Gold Card

MORE REWARDS: Get 4X Membership Rewards® points on the 2 select categories where your business spent Learn More

What’s New

Annual Fee

One of the first changes that will catch business owners’ eyes is the basic annual fee. Where the original Business Gold Reward card waived the fee for the first year, Business Gold cardholders will pay $295 from the get-go. While the introductory offers of the original card are out, the new, simplified rewards structure should also grab some attention.

Rewards Structure

Originally, the Business Gold Reward card offered points for cash spend on airfare, advertising, shipping, gas, and select computer providers; 3X points on one category of your choice and 2X points on four remaining categories. The new Business Gold card offers points on the same categories but will include restaurants as well. You can earn 4X points automatically on the two categories you spend the most each month, no need to manually designate your rewards categories. It also offers 1X points on all other purchases.

The rewards were capped at $100,000 per category per year under the former system, the changes institute a $150,000 combined cap for the year. While the overall earning potential is technically scaled back in the new system, the overall system will benefit the time-crunched business owner and maximize their rewards without the busy work of having to select your own rewards categories.

Airline Bonus

Business Gold Card members also receive a 25% airline bonus on qualifying airline purchases booked through Membership Rewards Pay with Points through American Express Travel. Members can receive up to 250,000 per calendar year.

Digital Tools and Back-Office Solutions

The Business Gold Reward Card already came with some excellent tools for business owners, namely the Spend Manager mobile app, which helps business owners track their spending, upload receipts, and manage employee spending, and connectability to QuickBooks for easier expense tracking. Both of these benefits will be available to business owners with the new Business Gold, with two additional perks. First is an accounts payable automation solution. This will help business owners not only to make payments on time, but to optimize their entity’s spending on necessary supplies and inventory. The second is a new robust digital experience, which aims to help the time-crunched business owner have more control over their spending and rewards, all while saving time and headaches.

With a revamped rewards system and retention of business solution options, the new Business Gold Card from American Express can help business owners stay hands-on and efficient while keeping their business rolling forward.

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About the Author — Connor Wilson is a writer at Nav, a free site giving business owners access to their business and personal credit scores, and tools that match them to the best financing and services.

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