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Here’s a friendly reminder for those of y’all with The Business Gold Rewards Card from American Express OPEN! You only have through January 31, 2018, to change your 3X bonus category.
Being able to choose a bonus category that fits your business needs can really make an impact on how many points you earn throughout the year.
But if you’re a new applicant, don’t worry. You will have 2 months after being approved to select your 3X bonus category.
Here are the 3X bonus categories you can choose from and how they work.
AMEX Business Gold Rewards 3x Categories
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
- Terms and limitations apply
The $175 annual fee is waived for the first year. And there are NO foreign transaction fees, so it’s a good card to use when you travel abroad.
Here are the categories you can choose from:
- Airfare purchased directly from airlines
- US purchases for advertising in select media
- US purchases for shipping
- US purchases at gas stations
- US computer hardware, software, and cloud computing purchases made directly from select providers
You will earn 2X AMEX Membership Rewards points on the remaining 4 categories. In each category, you’ll earn bonus points on up to $100,000 of purchases annually. After that, you will earn the standard 1X AMEX Membership Rewards point per $1 on purchases.
You can select your 3X bonus category by calling the number on the back of your card or by logging into your account.
If you don’t choose a category between December 1 and January 31 each year, the 3X bonus will be the same as the previous year. And you can only change your selection once per year. So if you miss the deadline, you’ll have to wait until next December 1 to select a new 3X bonus category.
New applicants have 2 months to make their initial 3X bonus category selection. If you don’t choose a category, you will automatically earn 3X AMEX Membership Rewards points on airfare purchased directly from airlines.
Is This the Right Card for You?
You can earn AMEX bonuses once per card per lifetime. If you’ve had this card before, you will not get the welcome bonus. This is true even if you are applying with a different business because AMEX has officially said “new applicants only.”
AMEX small business cards do not appear on your personal credit report. And they will not count towards your Chase “5/24” status! So the AMEX Business Gold Rewards card could be a good option if you are over the “5/24” limit or if you are trying to stay under it.
Also, the AMEX Business Gold Rewards card is a charge card, NOT a credit card. So you’ll have to pay the balance off in full each month (unless you use the Pay Over Time feature). This is a good way to ensure you won’t pay interest. But if you were planning on using the card to invest in your business, then you might want a credit card instead.
It’s that time of year again! Until January 31, 2018, you can change the 3X bonus category on your AMEX Business Gold Rewards card. If you don’t make a selection by then, your bonus category won’t change.
The AMEX Business Gold Rewards card currently has a great 50,000 AMEX Membership Rewards points welcome bonus after meeting minimum spending requirements. As an AMEX business card, it will not count towards your Chase “5/24” limit.
But, because it is a charge card (not a credit card), you’ll have to pay off the full balance each month.