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Is AMEX Business Gold Worth the Annual Fee?

Is AMEX Business Gold Worth the Annual Fee?

Million Mile SecretsIs AMEX Business Gold Worth the Annual Fee?Million Mile Secrets Team

The AMEX Business Gold Rewards card is currently offering a 50,000 AMEX Membership Rewards points sign-up bonus after meeting the minimum spending requirements.

That’s worth at least $500 in travel through the AMEX travel portal, or possibly more when you transfer your AMEX Membership Rewards points to partner airlines.

That’s a great deal for a card with the annual fee waived the first year, and because getting this card will NOT hurt your chances of being approved for Chase cards.  But is it worth keeping the AMEX Business Gold Rewards card after the first year, once the annual fee is due?

AMEX Business Gold Annual Fee
It Costs 25,000 British Airways Avios Points to Fly From the West Coast to Hawaii. And You Can Use the AMEX Business Gold Rewards’ Sign-Up Bonus for a Ticket, Because You Can Transfer AMEX Membership Rewards Points to British Airways at a 5:4 Ratio.

I’ll help you decide whether keeping the AMEX Business Gold Rewards card after the first year makes sense for you.

AMEX Business Gold Annual Fee

Link:   The Business Gold Rewards Card from American Express OPEN

Link:   How to Fill Out an American Express Business Card Application

You can now earn 50,000 American Express Membership Rewards points with the The Business Gold Rewards Card from American Express OPEN after you spend $5,000 on purchases in the first 3 months of opening your account. 

You’ll also earn:

  • 3X AMEX Membership Rewards points per $1 you spend in 1 of 5 categories of your choice
  • 2X AMEX Membership Rewards points per $1 you spend on the 4 remaining categories
  • 1X AMEX Membership Rewards points per $1 you spend on other purchases
  • No foreign transaction fees
  • Terms and limitations apply

You can read my full review of this offer here.

This card is a good option for folks because it earns flexible AMEX Membership Rewards points.  And because having this card will NOT hurt your chances of being approved for Chase cards.

Plus, you don’t need a multimillion dollar business to be approved for this small business card. 😉

But while the $175 annual fee is waived for the first year, you’ll have to decide if you want to keep it after that.

Should You Keep the AMEX Business Gold After the First Year?

In general, I suggest evaluating whether to keep or cancel a card after ~10 months.  Because when the annual fee is waived the first year, there’s no point canceling the card immediately.

And banks don’t like when you close a card right after getting the sign-up bonus!  So they might hesitate to approve you for more of their cards in the future.

But $175 is a hefty fee for most folks, and it’s likely NOT worth keeping this card unless you spend a lot in 1 of the 5 categories in which you can earn 3X AMEX Membership Rewards points.

The bonus categories you can choose from include:

  • Airfare purchased directly from airlines
  • US purchases for advertising in select media
  • US purchases at gas stations
  • US purchases for shipping
  • US computer hardware, software, and cloud computing purchases made directly from select providers
AMEX Business Gold Annual Fee
If You Spend a Lot on Shipping, You Can Earn Lots of AMEX Membership Rewards Points With the AMEX Business Gold Rewards Card!

So if you spend a lot on airfare, for example, it could be worth keeping the AMEX Business Gold Rewards card after the first year.

Or if your business purchases tens of thousands of dollars on expenses like advertising, computer hardware & software, or cloud computing.  Because the AMEX Business Gold Rewards card offers the highest bonus for these categories.

But don’t forget, there are other cards that earn similar bonus points in many of these categories.  Like the Chase Sapphire Reserve, that earns 3X Chase Ultimate Rewards points in travel & dining.  Or the Chase Ink Plus small business card that earns 2X Chase Ultimate Rewards points at gas stations & hotels.

Plus, Chase Ultimate Rewards points are my favorite kind of points, so I’d prefer a Chase card that earns Ultimate Rewards points over one that earns AMEX Membership Rewards points.

But you’ll have to decide which flexible points work best for your personal travel goals and situation!

AMEX Has Great Customer Service

It’s easy to cancel your AMEX Business Gold Rewards card (or any AMEX card!).  You can either call AMEX with the number on the back of your card, or chat with a representative online.

Usually they’ll ask you to verify your identity with your name and the last for digits of the card, but otherwise, the process is simple!

Just remember you will NOT want to lose the AMEX Membership Rewards points you’ve earned.  So check out my post about how to keep AMEX Membership Rewards points active without paying annual fees.

Bottom Line on the AMEX Business Gold Annual Fee

With the increased sign-up bonus on the AMEX Business Gold Rewards card, you can earn 50,000 AMEX Membership Rewards points after meeting minimum spending requirements.

That’s worth $500 in travel through the AMEX travel portal, or possibly more when you transfer your AMEX Membership Rewards points to partner airlines.

But it’s probably NOT worth keeping this card after the first year, when the $175 annual fee is due.  Unless you spend a lot in 1 of the 5 bonus categories, like advertising, gasoline, or shipping.

Because there are other cards that earn similar bonus points, like the Chase Ink Plus small business card that earns Chase Ultimate Rewards points.

But as always, you’ll have to decide which card makes the most sense for you!

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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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On the value of the points; if you live on the east coast you can use those to get a RT flight on Brussels Air to the EU in business class for free. That may work for various parts of the US, I didn't check. If you can spend 19K more on that card you will get two RT flights to the EU in business class for free. Those flights are worth app. $2,600 each. So, depending on where you live, this can be very valuable and easily negates the fees involved. You just have to love transferrable points.

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Million Mile Secrets

@Chris Jensen - Thanks for sharing that interesting angle!