AwardWallet receives compensation from advertising partners for links on the blog. Terms Apply to the offers listed on this page. Enrollment is required for select Amex benefits. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers.
The changes below have taken effect, and this post is no longer being updated. Here is our archive of major updates from card issuers and loyalty programs.
The American Express® Business Gold Card has long been an incredible asset for business owners. Arguably one of the best business credit cards out there, the Amex Business Gold features lucrative and dynamic bonus categories, expansive purchase protections, a lengthy list of statement credits, and more — all while earning valuable Membership Rewards.
On October 3, 2023, American Express announced a refresh to the card, with all changes except the annual fee increase taking effect immediately.
There's a lot to unpack, so here's what you need to know about changes to the Amex Business Gold.
Increased Annual Fee
One of the main changes with the Amex Business Gold‘s refresh is a much higher annual fee, going up by $80 to $375. (Rates & Fees)
Related: Amex Business Gold full review
Spending Category Adjustments
One of the most valuable aspects of the Amex Business Gold has been its ability to earn 4X Membership Rewards points in the top two eligible categories where your business spent the most each billing cycle (applicable on the first $150,000 in combined purchases annually, then 1x). This earning structure will remain the same, but American Express has added three categories and removed two others.
Here's what's staying the same:
- U.S. purchases at gas stations
- U.S. purchases at restaurants, including takeout and delivery
- U.S. purchases for advertising in select media (online, TV, radio)
Here's what's new:
- 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.
- Transit purchases, including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways.
And here's what's going away:
- Airfare purchased directly from airlines.
- U.S. purchases for shipping.
For all other purchases, cardmembers will continue to earn 1X Membership Rewards per dollar spent.
How these changes impact businesses largely depends on each business's unique spending. For some, these changes will be extremely welcome. For others, it might be enough of a reason to look for another business card.
- Welcome Offer: Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*
- 0% Intro APR ¤ for 6 months from the date of account opening on purchases eligible for Pay Over Time, then a 18.49% to 27.49% variable APR.*
- Earn 4X Membership Rewards® points on the top two eligible categories where your business spends the most each month from 6 eligible categories. While your top 2 categories may change, you will earn 4X points on the first $150,000 in combined purchases from these categories each calendar year (then 1X thereafter). Only the top 2 categories each billing cycle will count towards the $150,000 cap.*
- Earn 3X Membership Rewards® points on flights and prepaid hotels booked on amextravel.com using your Business Gold Card.*
- Earn up to $20 in statement credits monthly after you use the Business Gold Card for eligible U.S. purchases at FedEx, Grubhub, and Office Supply Stores. This can be an annual savings of up to $240. Enrollment required.*
- Get up to a $12.95** statement credit back each month after you pay for a monthly Walmart+ membership (subject to auto-renewal) with your Business Gold Card. **Up to $12.95 plus applicable taxes on one membership fee.*
- The Business Gold Card comes in three metal designs: Gold, Rose Gold and White Gold. Make your selection when you apply on Americanexpress.com.
- *Terms Apply
- Rates & Fees
- U.S. purchases for advertising in select media (online, TV, radio)
- U.S. purchases made from electronic goods retailers and software & cloud system providers
- 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, and subways
- Monthly wireless telephone service charges made directly from a wireless telephone service provider in the U.S.
New Statement Credits
Statement credits offer an excellent way to recoup a card's annual fee — and they're coming to the Amex Business Gold. American Express is introducing the following statement credits to the card, which can carry up to $395 of value annually.
- Flexible Business Credit: Earn up to $20 in monthly statement credits ($240 per year) for eligible purchases at FedEx, Grubhub, and office supply stores. Enrollment is required.
- Walmart+ Membership Credit: Valued at $155 annually, you can receive a statement credit to cover the cost of a monthly Walmart+ membership (up to a $12.95 statement credit back each month).
The new flexible spending credit might not relieve the sting of losing the 4X U.S. shipping category for some businesses, but it is a nice addition that will recoup most of the card's annual fee.
Higher Earnings on Amex Travel
As part of the refresh, the Amex Business Gold will now earn 3X Membership Rewards points on eligible purchases made through AmexTravel.com. Amex Travel is American Express' in-house online travel portal that lets cardmembers book flights, hotels, cruises, and more.
While 3X Membership Rewards on purchases are generally something to get excited over, American Express' subsequent removal of the 25% rebate when Paying with Points (effective February 1, 2024) quickly made this new perk much less valuable. It'll be hard — if not impossible — for most cardholders to make up for the loss of the rebate value by earning Membership Rewards at the new 3X rate. If you want to use the Pay with Points rebate until then, note that it offers up to 250,000 points back annually on first- or business-class flights with any airline or flights in any cabin with a preferred airline you select in advance.
Enrollment is required for select Amex benefits.
Related: Complete Guide to the American Express Travel Portal
Cell Phone Protection
American Express has brought cell phone protection to the Amex Business Gold. With this benefit, cardholders can receive reimbursement for theft or damage for a maximum of $800 per claim. There's a limit of two approved claims per 12-month period, and a $50 deductible will apply to each approved claim.
Rose Gold Option
Much like the consumer version (the American Express® Gold Card), the Amex Business Gold is now available in stylish rose gold.
Bottom Line
The Amex Business Gold has been refreshed and now sports adjusted bonus categories, higher earnings on Amex Travel, up to $395 in annual statement credits, and can be issued in rose gold. While every business might not warmly receive the changes, the card will likely continue to provide outsized value to numerous small businesses.
Except for the annual fee and loss of the Pay with Points feature, other changes have already taken effect. Between now and January 31, 2024, new and current cardmembers can take advantage of the monthly statement credits, modified bonus categories, and other perks without paying the higher annual fee.
For rates and fees of the cards mentioned in this post, please visit the following links: American Express® Business Gold Card (Rates & Fees)
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
