Business Gold Rewards Card® from American Express OPEN
Sponsored Card
- Minimum Credit Required:
Excellent - Network: American Express
- Charge Card:
Balance must be paid in full each month
- 3X points on airfare, 2X points on advertising, gas, and shipping , 1X points on everything else.
- Unlimited Rewards Potential - there is no limit to the number of points you can earn and points do not expire.
- Ongoing savings with FedEx, Hertz®, Hyatt Hotels and Resorts® and more just by using your Business Card. The savings will automatically appear on your statement, and the savings are in addition to other discounts your business may already receive.
- Basic: None 1st yr, $175 after
- $35 or 2.99% of the past due amount, whichever is greater
Additional Info:
- This American Express Card has no preset spending limit, giving you purchasing power that adjusts with your use of the card.
- No preset spending limit does not mean unlimited spending. Your purchases are approved based on a variety of factors including spending patterns, your payment history, your credit history, and financial resources known to us.
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The card information shown on this page was last updated: May 23rd, 2012 at 1:05 EDT
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Small business owners have a lot of important decisions to make and which credit card(s) to use for company spending is merely one of them, so I’ll try to make this little review of The “New” Business Gold Rewards Card from American Express Open a short one. First of all, it’s important to point our that the Amex Gold Business Card is a charge card, not a traditional credit card, which means you need to pay your balance in full every month. That’s actually a good thing though, for two reasons: 1) The CARD Act does not apply to small business credit cards so you shouldn’t use one to revolve a balance anyway 2) charge cards often have better rewards. Speaking of rewards, the American Express Gold Business Card offers 3 points for every dollar you spend on airfare, 2 points on advertising, gas and shipping, and 1 point on everything else. You also automatically save 3-10% on every purchase you make through FedEx, OfficeMax, Hertz, etc. Therefore, it offers you good rewards on some of your most important expenses. In this regard, it passes the test, so to speak. Obviously, interest rates don’t apply to charge cards, so let’s move to the American Express Open Gold Card’s fees. It doesn’t have a membership fee during the first year and while it charges $175 beginning in the second year, the rewards and membership benefits are likely worth it (enhanced spending tracking and management features, purchase and travel insurance, roadside assistance, etc.). Nevertheless, you may want some alternatives. The Capital One Spark Cash for Business and the Citi Platinum Select Credit Card are good options for everyday purchases and revolving debt, respectively. Whether you choose one of these cards or American Express’ Gold Business Charge Card, you really can’t go wrong (as long as you use them for the right kinds of transactions).