If you like to earn lucrative welcome bonuses to save money on travel, applying for AMEX small business cards can be a great way to boost your rewards balances. And with the AMEX Business Gold Rewards card, you’ll earn 50,000 American Express Membership Rewards points after meeting minimum spending requirements.
AMEX Membership Rewards points are flexible, which can be extremely valuable for folks looking to get Big Travel with Small Money.
So here are 5 tips for getting approved for the AMEX Business Gold Rewards card. As well as a few reasons why this card could make sense for you!
Increase the Odds of Getting Approved for the AMEX Business Gold Rewards Card
If you’re considering applying for the AMEX Business Gold Rewards card, the good news is, AMEX small business cards are relatively easy to get.
1. Determine Your Eligibility
You will likely qualify for an AMEX small business card as long as you’re operating a for-profit business (even if you have very low income!).
But don’t forget, AMEX only allows folks to earn a welcome bonus once per card per lifetime.
2. Know Your Credit Score
Because the AMEX Business Gold Rewards card is a charge card and NOT a credit card, you are not getting a revolving credit line. This means it could be easier to qualify as long as you have good credit history and a credit score of at least 700.
Keep in mind, because the AMEX Business Gold Rewards card is a charge card, you must pay the balance in full each month. I recommend this with any type of card because any interest or fees you pay for carrying a balance can offset the value of the rewards you earn.
Million Mile Secrets team member Meghan was instantly approved for the card a little over a year ago. She has a credit score that hovers around 800.
That said, no matter how great your credit score is, American Express always has the final say. They look at many factors, and can decline you for any reason, including:
- Credit limit across accounts
- Credit utilization
- Too many recent credit card applications
- Too many AMEX cards
3. Fill Out the Application Correctly
You’ll need to answer more questions on the AMEX Business Gold Rewards card application than you would on a personal card application. But if you’re an existing American Express customer, you can log-in to your account to have the application automatically enter your existing personal information.
You can apply using just your social security number if you don’t have an EIN (Employer Identification Number). Plus, AMEX does NOT have strict income requirements for small business cards.
Million Mile Secrets team members Meghan and Keith have always used their social security numbers to apply as sole proprietors for small business cards. And if you’re applying as a sole proprietor (meaning you’re not in any type of partnership), you can use your name as the legal business name.
4. Include ANY and ALL Income You Earn!
Along with your credit score, the total income you report on your credit card application can be an important factor in receiving approval.
Most banks allow you to include income beyond traditional salaries and wages. You can include things like:
- Investment income from stocks and rental properties
- Social security
- Retirement benefits
- Military allowances
- Shared income from a partner
Just be sure to tell the truth in your application. If you’re including income from non-traditional sources, be prepared to explain it to the bank!
5. Call the Reconsideration Line If You Need To
When you apply for a credit card, you’ll see one of the following results: approved, declined, or pending application.
If you’re not instantly approved for the AMEX Business Gold Rewards card, you might consider waiting to call the reconsideration line. Instead, wait until you get a message from AMEX telling you their final decision (or you see the result through your online application status).
That said, if you’re declined in the end, it’s worth a call to the bank’s reconsideration line. So you can speak to a credit representative to find out what’s going on.
A few tips to remember when calling the reconsideration line:
- Be friendly. Customer service representatives will appreciate kindness because they put up with a lot!
- Know key features of the card that you’ll use. Do NOT say you just want the welcome bonus
- Be prepared to provide documentation regarding your business, such as a copy of a business card, proof of mailing address, invoices, etc.
The American Express Business Gold Rewards Card
When you apply for the AMEX Business Gold Rewards card, you’ll earn 50,000 American Express Membership Rewards points after spending $5,000 on purchases in the first 3 months of opening your account. These flexible points are extremely valuable for folks looking to get Big Travel with Small Money because you transfer points directly to travel partners like JetBlue and Singapore Airlines.
Some folks tell me they’ve received targeted mailers with larger bonus offers. So keep an eye out to see if you can get a better deal.
Remember, with AMEX, you can only earn the welcome bonus on a card ONCE per person, per lifetime on ALL their cards. So it’s best to apply when you can take advantage of a larger than normal bonus.
As an AMEX Business Gold Rewards cardholder, you’ll also earn 3X AMEX Membership Rewards points per $1 you spend in 1 of these 5 categories (you get to choose):
- 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
Note: You can choose your AMEX Business Gold card 3X bonus category within the first 2 months of receiving your card. After that, you can change it annually between December 1 and January 31. If you don’t make a change, your 3X bonus category will remain the same as the previous year. Here’s a step-by-step guide to choosing your AMEX Business Gold card 3X bonus category.
For the remaining 4 categories, you’ll earn 2X AMEX Membership Rewards points per $1 spent. And you earn 1 point per $1 for all other purchases.
Keep in mind, you’ll earn 2X and 3X points on the first $100,000 in eligible purchases in each category per calendar year. After that, you’ll earn 1 point per $1.
And the card’s $175 annual fee is waived for the first year. So you can use the card for ~10 or ~11 months to see if the perks are worth the annual fee. Then, decide whether to keep the card or cancel.
AMEX Business Cards Do NOT Get in the Way of Future Chase Card Applications
Because AMEX business cards will not show up on your personal credit report, getting the AMEX Business Gold Rewards card will NOT count toward Chase’s 5/24 rule.
So getting this card won’t hurt your chances of being approved for Chase cards in the future!
To maximize your chances of being approved for the AMEX Business Gold Rewards card, make sure you meet requirements like:
- Have a credit score of 700+
- Operate a for-profit venture
- Have NOT received the welcome bonus from the AMEX Business Gold Rewards before
Keep in mind, American Express still has the final say in whether you’ll be approved.
If your application isn’t immediately approved, you should wait for the automated system to make a decision. But if you’re declined, you should call AMEX to request reconsideration.
Have any approval tips of your own? Share them in the comments to help your fellow readers!