American Express Business Gold Rewards Card Review 2024

• Earn up to 110,000 bonus Membership Rewards® points
• Earn a welcome bonus of 70,000 Membership Rewards® points after spending $5,000 in purchases within the first three months of Cardmembership.
• Plus, earn 10,000 bonus points when you charge $20,000 in net purchases to your Card account each calendar quarter. This could add up to 40,000 points every year.
• That’s up to $1,100 in statement credits that can be reinvested in your business.
• Earn points that you can redeem in a variety of ways
• Earn 1 Membership Rewards point for every dollar in purchases charged to the Card and get the most out of your business expenses.
• Enjoy an exceptional line-up of rewards redemption options for you and your business, including travel, dining, entertainment, gift cards, merchandise, and more with Membership Rewards program.
• Transfer points to frequent flyer and hotel programs, including one-to-one to Aeroplan®* and Avios.
• Unlock business possibilities with a full suite of business management tools that give you more control over your business – anytime and anywhere
• Take advantage of purchasing power that grows with your business with no pre-set spending limit on purchases. With this Card, your purchasing power adjusts dynamically with your Card usage, and can grow over time, as long as you make your payments on time and maintain a good credit history
• Maximize your cash flow with up to 55 interest free days so you can keep more cash on hand when you need it most.
• Pay for business expenses over time with Flexible Payment Option
• This charge Card has both Due in Full and Flexible Payment Option balances. All Due in Full balances must be paid each month. Interest rate of 30% applies to each delinquent Due in Full Charge. This rate is effective from the day the account is opened. Interest rate of 21.99% applies to your Flexible Payment Option balance. This rate is effective from the day the Flexible Payment Option is first available on your account.
• Access comprehensive insurance coverage for your travel needs.
• Access Travel Emergency Assistance, and up to $100,000 Travel Accident Insurance when you fully charge your tickets to your Business Gold Rewards Card.
• Plus, access Lost or Stolen Baggage Insurance, Flight Delay Insurance, and Baggage Delay Insurance when you fully charge your airline tickets to your Business Gold Rewards Card.
• Save money when travelling with complimentary Car Rental Theft and Damage Insurance
• Access coverage that can protect your business purchases when you charge the full price of eligible items to your Business Gold Rewards Card.
• Protect your eligible purchases against accidental physical damage and theft for up to 90 days with Purchase Protection® Plan
• Double the manufacturer’s original warranty up to one additional year with Buyer’s Assurance® Protection Plan
• Access to coverage for mobile devices purchased for business use.
• Access Mobile Device Insurance of up to $1,000 in the event of theft, loss or accidental damage, anywhere in the world, when you fully charge or finance the purchase price of an eligible mobile device on your Business Gold Rewards Card.
• American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.

The American Express® Business Gold Rewards Card® is a premium business charge card that also has a flexible payment option. On the rewards frontier, the card’s primary value is derived from a sizeable welcome bonus. Otherwise, all purchases earn a modest 1 point per dollar spent.

The card’s insurance spans travel, business and purchase coverage. This includes standard coverages such as flight delay, rental car, mobile device and more. However, it notably excludes emergency medical insurance.

Cardholders receive an interest-free grace period of up to 55 days. Afterward, delinquent balances that are not paid in full default to a 30% interest rate. Cardholders have the option to finance eligible purchases at standard credit card rates through the Flexible Payment Option. Overall, the American Express Business Gold Rewards card doesn’t shine in any particular category over any other beyond the initial welcome bonus.

• Up to 55 interest-free days on purchases
• Earn up to 110,000 Membership Rewards points
• 1 point per dollar spent on all purchases with no limits on how many points you can earn

Earning Rewards

The American Express Business Gold Rewards Card earns:

• Welcome bonus of 110,000 Membership Rewards points:
  • Earn 70,000 points after spending $5,000 in the first three months
  • Earn 10,000 points when you charge $20,000 in net purchases to your card each quarter (up to 40,000 points per year)
• 1 point per every dollar spent on all purchases

This translates to a maximum 2% earn rate on all spending. While well-rounded, other cards provide more lucrative options to maximize rewards. Although offering a less-than-stellar earn rate, the card presents a robust welcome bonus.

Redeeming Rewards

The American Express Business Gold Rewards Card earns Membership Rewards points. You can redeem these points for:

• Flight bookings
• Flight purchases on AirCanada.com
• Gift cards
• Merchandise
• Amazon.ca purchases
• Statement credits
• Transferring to other frequent flyer or travel loyalty programs

Using airline or hotel transfer partners is often the best way to maximize point value, as valuations can reach two cents per point. For non-travel redemption options, like gift cards and merchandise, they commonly value your rewards at one cent per point.

Rewards Potential

The reward potential is heavily skewed towards the first year, given the robust welcome bonus. Cardholders can receive up to 110,000 points by exceeding spending requirements in the first year. However, the card provides a low rewards potential on everyday spending. Forbes Advisor estimates a measly net annual earnings of $80 based on average annual Canadian spending in common credit card categories after deducting the annual fee. That said, this card is geared toward business owners, who likely spend significantly more per year than the average household.

The American Express Business Gold Rewards card boasts many benefits, including:

Business Benefits

• Dynamic Purchasing Power: There’s no pre-set spending limit on purchases and your power to buy adjusts as you use your card. As long as you make on time payments, this can increase over time.
• Interest-Free Days: You’ll get a time period of 55 days without paying interest.
• Flexible Payment Options: You can choose to pay in full, the minimum amount or anything in between.
• Expense Management Reports: Delivered quarterly and annually, these give you the ability to sort by vendor or spend category, separate personal expenses from business expenses and track and manage expenses easily.
• Employee Card Misuse Protection: You’ll be covered for up to $100,000 if your employee misuses their supplementary card for unauthorized charges. You must terminate the supplementary cardholder and cancel their card within 2 business days.
• Experience Member Extras: Unlock up to $450 in additional value with Member extras, like statement credits from select purchases and Amex Offers. You must register for Member extras through Amex Offers.
• Fraud Protection Guarantee: You’re not liable for fraudulent charges if you’ve reasonably safeguarded your account details and PIN.

Travel Coverage

• Travel Accident Insurance: Up to $100,000 of coverage for you, your spouse and dependent children under the age of 23 when any of you travel on a common carrier.
• Flight Delay Insurance: Receive up to $500 coverage (aggregate maximum with Baggage Delay Insurance) for necessary expenses purchased within 48 hours when you are delayed or denied boarding for four hours or more without altnerative transportation being provided.
• Baggage Delay Insurance: Receive up to $500 coverage (aggregate maximum with Flight Delay Insurance) for necessary emergency purchases, made within four days, when your baggage is delayed by six hours or more on your outbound trip.
• Lost or Stolen Baggage Insurance: Up to a maximum of $500 per trip for all insured people combined.
• Hotel Burglary Insurance: Up to $500 against the loss of most personal items (excluding cash) if your hotel room is burglarized.
• Car Rental Theft & Damage Insurance: Coverage for damage or theft of your rental car with an MSRP of up to $85,000.
• Travel Emergency Assistance: Emergency medical and legal referrals by telephone, available 24 hours a day, 7 days a week.

Consumer Insurance

• Mobile Device Insurance: Get up to $1,000 in the event of loss, theft, damage or breakdown of your mobile device.
• Purchase Protection Plan: This insure you up to $1,000 per occurrence if your item is accidentally damaged or stolen within 90 days of purchase.
• Buyer’s Assurance Protection Plan: Double the manufacturer’s warranty up to 12 additional months.

Interest Rates

• Regular APR: 30% ‘Due In Full’ balance, 21.99% to 28.99% (flexible payment option)
• Cash Advance APR: N/A
• Balance Transfer APR: N/A

Fees

• Cash Advance Fee: N/A
• Balance Transfer Fee: N/A
• Foreign Transaction Fee: N/A
• Annual Fee: $199
• Any Other Fees: $50 additional cardholder fee

The best way to maximize Membership Rewards points is through transfer partners. While American Express values travel redemptions at 1 cent per point, cardholders can double the value elsewhere.

American Express Business Gold Rewards Card vs. CIBC Aeroplan Visa Business Plus Card

The CIBC Aeroplan Visa Business Plus Card earns more rewards for a lower annual fee. Forbes Advisor estimates that an average CIBC Visa Business Plus cardholder would net a maximum of $456.48 with the CIBC card based on average annual spending by Canadians, far outpacing the $80 earned with Amex.

Otherwise, both cards have similar insurance coverage and additional benefits. The primary difference is that Amex offers a 55-day interest-free period, while CIBC includes airport lounge access. Overall, the CIBC Aeroplan Visa Business Plus Card is a more appealing option.

American Express Business Gold Rewards Card vs. TD® Aeroplan® Visa* Business Card

The TD Aeroplan Visa Business Card presents a more attractive option for frequent travellers. This is driven by TD’s enhanced earn rate and the inclusion of travel medical insurance. Forbes Advisor estimates an average TD Aeroplan Visa Business cardholder nets $338.48 in annual rewards based on Statistics Canada research on average Canadian spending. Again, this eclipses the $80 earned with the Amex Gold Rewards Business.

As with above, both cards offer similar benefits. The Amex Gold Business Rewards Card excels with a 55-day interest-free period. Meanwhile, the TD Aeroplan Visa Business Card earns more rewards and includes lounge access. It also has a lower interest rate, benefiting those who carry a balance. Overall, the TD Aeroplan Visa Business Card is the better option for travel enthusiasts.

American Express Business Gold Rewards Card vs. Business Platinum Card® from American Express

The Business Platinum Card from American Express charges four times the annual fee. It’s better for heavy spenders or those finding value in the statement credits and airport lounge access. Despite the hefty annual fee, the Platinum only earns 25% more points, at 1.25 points per dollar spent. As such, cardholders must spend significant amounts to earn a profit.

However, the annual fee is softened with $820 in statement credits. This includes $200 for travel, amongst Dell, Indeed and wireless credits. However, cardholders may not always find value in the credits. Likewise, The Platinum Card offers access to the American Express Global Lounge Collection, while the Gold doesn’t.

Learn more: Amex Gold Rewards vs. Platinum: Which Is Better For You?

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With this card, the scoring model used takes into account factors such as, but not limited to, rewards rates and categories, fees, the welcome bonus, and other benefits and features. Keep in mind, what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

The American Express Business Gold Rewards Card appeals to those seeking a generalist credit card with a flexible rewards system. It’s suitable for cardholders who value a predictable flat-rate approach to earning points on everyday spending. Likewise, the card earns Membership Rewards Points, which offer unparalleled redemption flexibility.

However, the Amex Business Gold Card should be avoided if you want to maximize points and tend to carry a balance. Comparable cards provide more reward potential, exceeding the $80 net rewards estimated by Forbes Advisor. The card also charges a high interest rate, defaulting to 30% unless balances are paid in full at the end of the billing cycle or eligible items are transferred to the Flexible Payment Option, which offers a more traditional APR of 21.99% to 28.99% on the purchases that qualify.

Related: Best Business Credit Cards In Canada