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A couple of days ago I wrote about how The Business Gold Rewards Card from American Express OPEN is offering a sign-up bonus of 50,000 Membership Rewards points upon completing minimum spend. This is one of the all around best business credit cards, so if you’re in the market for a small business credit card, I’d highly recommend this offer.
In this post I wanted to share eight reasons why you should consider applying for the Amex Business Gold Rewards Card:
The best public offer we’ve seen in many years
A sign-up bonus of 50,000 Membership Rewards points upon completing the minimum spend on this card is the best publicly available offer I recall seeing on this card in over four years. American Express sometimes has targeted offers that are higher, though that’s not something you can count on.
No annual fee the first year
While the card has a $175 annual fee after the first year, there’s a $0 introductory annual fee for the first year, so it’s a great way to try the card for a year without even having to pay the annual fee.
Amazing and flexible bonus categories on spend
This card offers among the best bonus categories of any business credit card out there, including the following five:
- Airfare purchased directly from airlines
- U.S. purchases for advertising in select media
- U.S. purchases at gas stations
- U.S. purchases for shipping
- U.S. computer hardware, software, and cloud computing purchases made directly from select providers
You can choose in which category you want to earn 3x points, and then you earn 2x points in the other four categories, for a total of up to $100,000 of spend per category per year.
While categories like airfare and gas stations are great for a business card, they’re also fairly common bonus categories. However, earning bonus points on advertising purchases, shipping, and computer hardware, software, and cloud computing, are unique bonus categories, which a lot of businesses could really rake in the points with.
This is a charge card (generally easier to be approved for)
This is a charge card, meaning you have to pay off your balance in full each month, as opposed to a credit card, where you can finance your charges over time (which I don’t generally recommend doing on a credit card, given how expensive the interest rates are).
As a result, I find that charge cards from American Express are typically rather easy to get approved for, since they’re fairly low risk for the issuer. I’ve always instantly been approved for charge cards with American Express.
Amex likes extending credit to small businesses
Some issuers make it difficult for small businesses to get a line of credit with them, though I find that Amex is among the best issuers when it comes to approving people for a small business credit card, even if their business is still fairly new.
Earlier in the year I shared Ford’s experience getting approved for an Amex small business card as a sole proprietorship with limited business come. He had no issues, and in theory this card should be even easier to be approved for, since it’s a charge card rather than a credit card.
Doesn’t count towards Chase 5/24
Chase has a policy where they typically won’t approve you for a new card if you’ve opened more than five card accounts in the past 24 months. However, most report that American Express business credit cards wouldn’t count towards that limit. So you can apply for this card without impacting your chance of being approved for a Chase card going forward.
Amex Open Savings
This card qualifies for the Amex OPEN Savings benefit, which gets you two bonus Membership Rewards points or a 5% discount for purchases at select retailers (I think the 5% discount is more valuable, so that would be my choice). This includes select purchases at FedEx, Hertz, HP, Barnes & Nobles, etc. The savings at these retailers could quickly add up.
Ability to pool points
This card accrues Membership Rewards points, so the great news is that you can pool the points earned on this card with the points you earn on awesome cards like the Premier Rewards Gold Card from American Express, Amex EveryDay® Preferred Credit Card, etc., which are among the cards I use the most for everyday spend.
Personally I value Membership Rewards points at ~1.7 cents each, so to me the 50,000 points are worth ~$850.
The sign-up bonus we’re seeing right now on the Amex Business Gold Rewards Card is the best public offer we’ve seen on the card in over four years. This is a great business card in terms of the return it offers on everyday spend, and anecdotally I find that it’s quite easy to be approved for. If you haven’t had this card already, I’d seriously consider applying through this offer.
Non-Affiliate Product Disclaimer: The information for the AmEx Everyday Preferred has been collected independently by One Mile At A Time. The card details on this page have not been reviewed or provided by the card issuer.