The Business Gold Rewards Card from American Express OPEN is a business card from American Express, a GET.com advertiser. This rewards charge card gives you 3 points for purchases in your choice of 1 out of 5 category options, and earn 2 points per $1 for purchases in the 4 remaining categories. You earn 1 point per $1 on other purchases. Because of its many privileges, The Business Gold Rewards Card from American Express OPEN is targeted at business owners who have excellent credit. Is this business card a good choice of card for you? Does it have any drawbacks? Below I will do a detailed review of the The Business Gold Rewards Card from American Express OPEN and tell you if this is a good card that will match your business needs.
Things We Like About The Business Gold Rewards Card from American Express OPEN
$0 introductory annual fee for the first year, then $175. When you get an American Express business card, not only do you get its many benefits, you also get 24/7 customer service, which makes it convenient for you to contact their on-call business consultants who spend the time to help answer any questions you may have.
Special offer: Receive 50,000 Membership Rewards® points after you spend $5,000 on purchases in the first 3 months. You will receive a welcome offer of 50,000 bonus points after you spend at least $5,000 on eligible purchases within the first 3 months of card membership.
For every $1 you spend, earn 1, 2 and up to 3 points. You will receive 3 points for every $1 spent on purchases in the your choice of 1 out of 5 available categories. The five categories to choose from are airfare purchased directly from airlines, U.S. purchases for advertising in select media, U.S. purchases at gas stations, U.S. purchases for shipping and U.S. computer software, hardware, and cloud computing purchases made directly from select providers. Earn 2 points on the remaining 4 categories. This applies to the first $100,000 in purchases in each of the 5 categories per year, 1 point per dollar after that. For all other eligible purchases, you get 1 point for every $1 spent. This generous reward points system enables you to earn points at a faster rate since you can select the category you spend more in order to earn more. You can use these points to entertain clients, reward employees, travel, and help your business move forward. Note that points are earned only on eligible purchases. Terms & limitations apply.
Pay no interest charges. Since this is a charge card, not a credit card, you have to pay your balance in full each month. A charge card is especially beneficial as it helps cover your business expenses without incurring any interest and you get to earn rewards with your spending. Remember that you still have to make payments on time.
No pre-set spending limit. The Business Gold Rewards Card from American Express OPEN does not have a specific spending limit, which is useful when it comes to cash flow flexibility. However that doesn't mean unlimited spending. Your spending limit adjusts based on the usage of your card, your payment history, credit record and other factors.
You get a flexible rewards program. The Membership Rewards® program is one of the most flexible reward programs in the US. Instead of being confined to redeeming your rewards for useless merchandise, you can redeem Membership Rewards® Points towards the cost of purchases made with your card, towards travel through American Express, or towards gift cards and merchandise. You can also redeem points directly at the counter at some American Express partners, directly at checkout on Amazon.com, or for Airbnb or Uber charges.
Streamline the way you track your expenses with ReceiptMatchSM. We know that nobody truly likes to spend hours tracking their expenses and transactions, but if there is a quick and easy way for you to do it, why not? ReceiptMatchSM comes in handy as it lets you add receipts, tags and notes to your transactions through your mobile device or desktop. This feature makes it easy for you to be on top of the game. All you have to do is download the ReceiptMatchSM Mobile App, sign in with your American Express login, use the app to snap a picture of your Card's receipt by tapping on ‘Capture Receipt' (ensure that the date, amount and merchant name are clearly visible), and then upload it. American Express will help you match your receipt to the transaction on your online statement automatically, so you'll have an easier time checking and accounting for your bill statements.
Connect to QuickBooks®. You can enroll in Connect to QuickBooks® and have your Business Card transactions automatically sent to your Quickbooks®. This lets you track your expenses in one place, access more information on Card transactions (including vendor identification, flight dates etc), as well as save you precious time with the auto-expense categorization feature in Quickbooks. Along with ReceiptMatchSM, Connect to Quickbooks® aid in simplifying the way you manage your expenses.
Get additional Cards for your employees. Not only is it easier and more convenient for your employees to pay for business expenses, it is easier on your end also since you can easily set spending limits on the Employee Cards each billing cycle in addition to requesting for email or text alerts when a Card reaches its set limit.
Set account alerts. These alerts are especially useful as they will remind you to pay you bills (think: avoid late payments), notify you of any irregular activity as well as help you monitor Employee Card spending.
American Express Preferred Seating. You must purchase the eligible tickets with your card, which are subject to availability and apply to select events. You can use such events for entertaining your clients or yourself!
Extended warranty. American Express can extend the original U.S. warranty of the items you purchase.
Return Protection. Got a change of mind with your purchase, and can't return it because you've lost the receipt or the store is giving you a hard time? No worries! If you try to return an eligible item purchased in the U.S. within 90 days from the date of purchase and the store won't take it back, the purchase price can be refunded by American Express, up to $300 per item, excluding shipping and handling, up to $1,000 annually per card account. You'll also enjoy Purchase Protection which can protect you against any accidental damage or the theft of eligible purchases.
You get complimentary travel insurance when you pay for your plane/train/ship/bus ticket with your card, so you can travel with peace of mind. Coverage you get includes travel accident insurance (up to $100,000 in accidental death and dismemberment coverage while traveling on a common carrier) and a baggage insurance plan.
No foreign transaction fees gives you the freedom to use this card while traveling internationally without paying more for each purchase.
Car rental loss and damage insurance. When you charge your car rental to your card, you can be covered with this insurance at no extra charge. Remember to decline the collision damage waiver offered by the car rental company.
Our Least Favorite Things About The Business Gold Rewards Card from American Express OPEN
$175 annual fee after the first year. You'll enjoy $0 introductory annual fee for the first year, then $175. Considering the 3X points you get for purchases in your pick of 1 out of 5 categories, and 2X points on the remaining 4 categories, the rewards you can reap from this card can potentially make up for the annual fee in my opinion.
High penalty fees. This is a charge card, which means you must repay all money you spend by the due date every month. If you do not, you will pay a $38 penalty fee, or 2.99% of any past due Pay in Full amount, whichever is greater.
How Other Cards Compare With The Business Gold Rewards Card from American Express OPENThe Business Platinum® Card from American Express OPEN does not offer the same high rewards on purchases that you get with The Business Gold Rewards Card from American Express OPEN, but the welcome offers are so high that it can let you rack up points very fast. This card comes with a welcome Offer that lets you earn up to 75,000 Membership Rewards® points. This is how it works: you'll earn 50,000 Membership Rewards points after you spend $5,000 with this Card and an extra 25,000 points after spending an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership. On the other hand, the 1 point per $1 in purchases which you get with this card looks pretty dull next to the high points you earn on different kinds of business spending with The Business Platinum® Card from American Express OPEN. However, there's a new offer which is very rewarding for big spenders: if you spend $5,000 or more on single qualifying purchases you will earn 50% more Membership Rewards® points which makes 1.5 points per $1 spent - you can earn up to 1 million additional points per year. It also comes with a 50% Airline Bonus if you use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, you can get 50% of the points back. Another great perk is that you can also receive 50% points back on all First and Business class flights, with all of the airlines that are available through American Express Travel. This high-end charge card focuses on exclusive privileges for you and your business, travel perks in particular. You enjoy privileges like complimentary access to over 1,000 domestic and international airport lounges, 10 complimentary Gogo inflight internet passes annually and unlimited complimentary Wi-Fi at Boingo hotspots when you enroll, $200 in statement credits per calendar year towards incidental fees on 1 qualifying airline, a statement credit every 5 years after you apply for Global Entry ($100) or TSA Pre✔TM ($85) with an eligible Card, a concierge service and many more. You pay a $450 annual fee to use this card, versus a $0 introductory annual fee for the first year, then $175 to use The Business Gold Rewards Card from American Express OPEN. Terms & Restrictions Apply. In short, if you travel a lot and are most interested in saving money on travel expenses and enjoying special privileges, or if you're a big spender then this is a good card to get. But if earning rewards on regular business purchases is what you are after, then The Business Gold Rewards Card from American Express OPEN is the more rewarding card for that.
The Business Gold Rewards Card from American Express OPEN is a solid rewards card which lets you choose the category that represents the bulk of your business spending.
If you have an established business with excellent credit and want to earn rewards for your spending, the The Business Gold Rewards Card from American Express OPEN might be ideal for you. This charge card comes with benefits such as access to events, purchase protection, extended warranty, travel insurance and more. Plus, you get to earn points for every eligible dollar you spend on your card (up to 3 points per dollar!). Terms & limitations apply. Apply online and you'll get a response in less than 60 seconds.
Would you prefer a business cash back card instead? Then you can check out SimplyCash® Plus Business Credit Card from American Express (read review of SimplyCash® Plus Business Credit Card from American Express here), which lets you earn cash back on your business spending and automatically credits the cash back into your account.
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