Is the Amex Express Business Gold card worth the annual fee?

Small businesses must constantly reevaluate their expenses and spending habits to stay in business. And just like you check whether you can get your products at a lower price from another supplier, you should consider whether the credit card — or cards — you’re using for business expenses get the best return possible on your purchases.

Another key consideration is whether a small-business credit card you’re using is worth its annual fee. Are you getting perks and benefits that justify this fee? Is it worth paying the card’s annual fee to earn the bonus points it provides on your business expenses? Or would you be better served with another credit card?

The American Express® Business Gold Card underwent a refresh in October 2023, including some changes to its bonus categories and benefits. The annual fee is now $375 (see rates and fees), so let’s consider whether this card’s earning potential and benefits make that fee worth paying.

Welcome offer

New applicants for the Amex Business Gold can earn 70,000 bonus Membership Rewards points after spending $10,000 on purchases within the first three months of card membership.

Membership Rewards points are worth 2 cents apiece, according to our latest valuations. That makes this bonus worth $1,400, providing a solid 14% return on spending during the welcome offer period.

For the first year, this bonus value completely covers the card’s annual fee — though starting in year two, you’ll need to crunch the numbers to decide if it’s still worth it.

Related: How to redeem American Express Membership Rewards for maximum value

Adaptive bonus earnings

Many credit cards offer set bonus categories and allow you to earn extra rewards on purchases at those merchants — but you’re often forced into those categories. In contrast, the Amex Business Gold provides bonus earnings that adjust monthly, so you can earn additional points where you’re spending the most.

Cardmembers earn 4 points per dollar in the two categories where they spend the most each billing cycle. This applies to the first $150,000 in combined purchases in bonus categories yearly (then 1 point per dollar after that). The available bonus categories include:

• Transit purchases, including trains, taxicabs, ride-hailing services, ferries, tolls, parking, buses and subways
• U.S. purchases from electronic goods retailers and software & cloud system providers
• U.S. monthly wireless telephone service charges made directly from a wireless telephone service provider
• U.S. purchases at gas stations
• U.S. purchases at restaurants, including takeout and delivery
• U.S. purchases for advertising in select media (online, TV or radio)

Beyond the top two spending categories from this list, cardholders earn 3 points per dollar on flights and prepaid hotels booked through Amex Travel or AmexTravel.com and 1 point per dollar on all other purchases.

If you can earn bonus points on the full $150,000 of spending in these available bonus categories, you’ll earn a staggering 600,000 bonus points each year — worth $12,000 according to our valuations.

Related: What credit score do you need for the Amex Business Gold Card?

Statement credits

With the Amex Business Gold, you can get up to $395 in statement credits each year:

• Up to $240 back annually (up to $20 back per month) for eligible purchases at FedEx, Grubhub and office supply stores (enrollment required)
• Up to $155 back annually ($12.95 plus applicable taxes. Plus Up Benefits not eligible) for a monthly Walmart+ membership (subject to auto-renewal)

If you can take full advantage of these statement credits, you’ll more than justify the annual fee cost with this benefit alone.

Related: A guide to the Amex Walmart+ benefit

Small-business perks

Amex Business Gold primary cardholders can access several business-related benefits. These perks include year-end summaries, auto-expense categorization in Intuit QuickBooks and bill-pay services with Vendor Pay by Bill.com.

Vendor Pay is free for the first user and offers six free months for the second user, then $15 per month for the second user. Enrollment is required in advance for this benefit.

The primary cardmember can add employee cards to the Amex Business Gold, up to 99 additional cards. They can add up to five Business Gold cards for $95 total, and then $95 for each additional card after that (see rates and fees); additional business expensive cards are provided for no additional fee.

There’s no real difference between the two other than being able to select between the Gold and Rose Gold versions. As a result, most small-business owners should opt for the additional business expense card.

Regardless of your choice, these cards will help the primary account holder earn rewards on employee spending while also controlling and limiting employee spending as needed. In fact, you can also designate other people as account managers to handle many of these features.

The Amex Business Gold card is not a traditional credit card but has no preset spending limit. This means the amount you can spend on the card will vary based on things like creditworthiness, payment history and your relationship with American Express. Additionally, you may be eligible to enroll in Pay Over Time on your card, and Amex sometimes sends out targeted offers of bonus points to enroll in this feature.

Related: 6 lesser-known perks of the Amex Business Gold Card

Additional perks and protections

Amex Business Gold cardholders enjoy several additional perks and protections, including:

• Access to The Hotel Collection: The primary cardmember can make The Hotel Collection bookings with Amex Travel. While a two-night minimum is imposed on these bookings, you can receive perks like up to $100 on-property credit for things like dining, spa or resort activities and room upgrades at check-in (when available).
• Access to Amex Offers: Cardmembers have access to Amex Offers, which can provide savings or bonus points on qualifying purchases for targeted cardholders.
• Travel protections: Cardmembers enjoy multiple travel protections, including baggage insurance,* trip delay insurance** and car rental insurance.***
• Cellphone protection: Cardmembers can be reimbursed for the cost to repair or replace their stolen or damaged cellphone up to $800 per claim for up to two approved claims per year (with a $50 deductible for each claim).**
• Extended warranty: Eligible warranties of five years or less can be extended by one year (applies to warranties of 5 years or less on Covered Purchases in the United States or its territories or possession)*
• Purchase protection: Eligible purchases are covered for up to 90 days from the covered purchase date if stolen or damaged (limited up to $1,000 per occurrence, up to $50,000 per account each calendar year).*

It’s difficult to quantify the specific value of these benefits, but the protections alone will provide you with invaluable peace of mind.

*Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.

**Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

***Eligibility and benefit level varies by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. Coverage is offered through American Express Travel Related Services Company, Inc.

Related: Your complete guide to shopping protections on American Express cards

Bottom line

If you can maximize its bonus categories and statement credits, the Amex Business Gold will provide value for your business that far exceeds its annual fee. However, if you aren’t able to utilize the statement credits or want additional travel-specific benefits, you’ll likely get better value from a different card.

For more details, read our full review of the Amex Business Gold.

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Apply here: American Express Business Gold Card

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For rates and fees of the Amex Business Gold card, click here.