The American Express Gold Business card makes running a small to medium-sized business much easier with its flexibility and account management tools, helping the business owner reap the benefits of converting business expenses into rewards with its rewards programs.

Benefit of the Card’s Best Features?

This card gives you a versatile array of benefits from insurance covers, discounts on purchases, a top rewards program, flexibility and even tools to make managing your business accounts easier.

For every $1 you spend on your Amex Gold Business card you will receive 1 point. These points are uncapped and never expire so long as your account remains in good standing. You have a choice of two rewards programs where you can redeem points: Choices or Ascent. Both offer flexible reward options but Choices is primarily about shopping bonuses (including over 1,500 items from major brands) while Ascent is focused on travel. Your supplementary cards will also earn points, although it is your responsibility to manage what’s spent on them.

The amount of complimentary insurance coverage you get with the Gold Business card is extensive. For both domestic and overseas travelling, you will receive coverage on inconveniences like delays or missed flight connections, lost/damaged baggage, and transport accidents. Cardholders also get purchase protection on certain items as well as Return Protection and Extended Warranty.

There are some other nice perks with the Gold Business card, like the automatic discounts from participating vendors. You can save 3–10% just by using your Amex Gold Business card on purchases ranging from rentals to office supplies to dining out. Cardholders can travel in style with upgrades and get access to exclusive travel amenities.

Considering all of the benefits included with this card, the annual fee is low at $0 p.a.. It will only take a few flights or major purchases and the fee pays for itself. Supplementary cards cost $119 p.a.. However, Amex often run deals to waives these yearly fees. In any case, the annual fees are tax deductible so long as you only use the cards for business purposes.

The card has been designed to make running a business even easier thanks to their wide range of account management tools. Your monthly statements will come with GST itemisation, which makes BAS reporting much easier. You can directly input your statements and transaction information into Quicken, MYOB or Excel. Anything that makes administration easier and less time consuming is worth it in our opinion!

It is very easy to control spending with your supplementary cards thanks to the ability to choose a spending limit for each card. When that limit is reached, you can receive alerts and can then choose to adjust the limit. The alerts system is free and will give you instant alerts for balance updates, payment due dates, and confirmations.

American Express’ Gold Business card is one of the most flexible for Australian business owners. There is no spending limit so you can make necessary purchases as your business grows. This doesn’t mean you don’t have a spending limit. Rather, the spending approval depends on your payment and financial history with American Express. You can avoid any interest on your purchases with up to 51 interest free days so long as you pay your account in full on time.

Lastly, as a Gold Business cardholder, you will get top of the line customer support 24/7.

Are There Any Drawbacks?

As you’d expect from a business credit card with so many rewards and bonuses, the purchase rate is higher than average. You will have to apply to find out what rate is offered to you – but expect it to be over 20% p.a.

Note that the rewards program is not automatic: you must enrol in a program. The Choices rewards program costs $40 yearly and Ascent costs $80 annually.

Who is it Suited for?

The American Express Gold Business card is ideal for people with growing businesses who need flexibility and enjoy getting rewarded for their efforts.

Who is Eligible?

To be eligible for this card, you must be at least 18 years old, have a good credit history with no defaulted payments, be a permanent resident or citizen of Australia, and earn a minimum income of $24,000. Also, your business must have been trading for at least 1 year prior to filing your application.