Update: Some of the offers mentioned below are no longer available. See Current offers here.
American Express offers a number of services best business card on the market. One of these cards is the American Express® Business Gold Card, which offers business-focused 4x bonus categories.
However, you may doubt whether you can be approved to participate. Amex Business Gold Card. Specifically, you may be wondering whether you qualify for a card. And you may not be sure whether your credit score is high enough. So today I’ll take a closer look at these topics so you can decide whether or not to subscribe.
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Credit score required for the Amex Business Gold Card
The Amex Business Gold Card is one business card. As such, Amex will check consumer credit score as well as your business credit score. Not every business has one business credit score, in spite of. In this case, Amex will make a decision based on your consumer credit score and the details you provide about your business.
There are no set credit score requirements for the Amex Business Gold Card. However, successful applications for the Amex Business Gold Card are common Good consumer credit score from 700 and up.
Related: What credit score do you need for a business credit card?
Is the Amex Business Gold Card worth it?
The Amex Business Gold Card caters to small businesses with select types of business expenses. After all, the Amex Business Gold Card offers 4x more Member reward points on the two categories your business spends the most on each billing cycle from the following list:
- Airplane tickets purchased directly from airlines
- America buys goods for us advertising in selected media (online, television, radio)
- America buys at the gas station
- US purchases are made directly from select technology providers of computer hardware, software and cloud solutions
- America buys at restaurantIncludes takeout and delivery
- Buy American for shipping
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You will only earn 4x points on your first $150,000 in purchases in the combined 4x category per calendar year. But if you earn 4x the points on spending $150,000 per year, you’ll earn 600,000 points on these purchases. Based TPG’s valuation600,000 membership bonus points worth 12,000 USD.
Even if you earn 4x the points by spending significantly less each year, Amex Business Gold Card can still make sense. For example, a road warrior who uses the Amex Business Gold Card for all of their domestic gas and restaurant purchases can quickly earn enough rewards to offset the card’s $295 annual fee. (see rates and fees).
In short, the value you’ll get from the Amex Business Gold Card depends on the business expenses you incur and what other cards you carry in your wallet.
Related: Credit card showdown: Amex Business Gold vs. Amex Business Platinum
Who is eligible for the Amex Business Gold welcome offer?
The Amex Business Gold Card currently has a welcome offer of 70,000 bonus points after you spend $10,000 on qualifying purchases in the first three months of card membership. From Amex Membership Rewards points are worth 2 cents eachThis reward is worth 1,400 USD.
However, not all applicants are eligible for this award. Specifically, below Amex’s once-in-a-lifetime bonus policy, welcome offer does not apply to current or previous Amex Business Gold cardholders. And Amex notes in its welcome offer terms that it may “consider the number of American Express Cards you have opened and closed as well as other factors to make a determination regarding your welcome offer eligibility.” Friend.”
Luckily, Amex has it welcome bonus review tool that will let you know after registration if you are not eligible for the welcome bonus. You may choose to withdraw your application at this time, in which case Amex will do so pull your credit hard. So, if you don’t want the Amex Business Gold Card without a welcome bonus, read carefully any messages that appear after submitting your application.
Related: 5 ways you could qualify for a business credit card without realizing it
How to check your credit score
Before Apply for a small business cardyou’ll want to check it out credit score. Luckily, there are many ways to Check your credit score for free. For example, you can get a free FICO Experian 8 Score by logging in Experian’s FreeCreditScore website every 30 days. Similarly, you can test the TransUnion VantageScore 3.0 for free every week using Amex My Credit Guide.
You can also Check your business credit score. However, unlike a consumer credit score, you usually have to pay to do so.
Related: How does applying for a new credit card affect my credit score?
Factors that affect your credit score
Your credit score not just a number. Instead, your credit score at any given time may change based on the calculation method (such as FICO Score 8 and VantageScore 3.0), and credit reporting agency (such as TransUnion and Experian). The exact calculation methods are not publicly available. But FICO says that the FICO Score includes the following:
- Payment history (35%)
- Amount owed (30%)
- Length of credit history (15%)
- New credit (10%)
- Credit structure (10%)
If you want improve your credit scoreit is essential to understand What factors affect your credit score?. Your credit score will usually improve when you pay and learn how Pay your credit card bills properly.
Related: 3 real ways to increase your credit score in 30 days
What to do if you get rejected
If you apply for an Amex Business Gold Card, Amex may reject your application. Even if you have Excellent creditOther factors may cause Amex Reject your card application.
If Amex rejects your application, you will receive a letter stating Amex’s reasons for the rejection. TPG contributor Ethan Steinberg uses each Rejecting a credit card application as a lesson learned. After all, it is possible improve your credit portfolio then apply for another card (or similar card). However, Amex recommends waiting at least 30 days before applying for another Amex card.
Additionally, if you have information that may cause Amex to change its decision regarding your application, you may call Amex customer service at 1-800-567-1083 and ask Amex reconsiders its decision. Best case scenario, Amex may reverse its decision and approve your card. But even if Amex isn’t willing to change its decision, you can better understand why Amex Reject your card application.
Related: Instructions for calling the credit card review line
Which Amex business card is best?
American Express offers several business cards, each of which may be best suited to a specific small business. Thus, there is no one best Amex business card. However, here is a quick summary of the most popular Amex business cards and their uses:
- American Express Business Gold Card: Best for making money from diverse business expenses
- American Express Business Platinum® Card: Best for luxury travel perks
- American Express Blue Business Cash™ Card: Best for cashback rewards
- Blue Business® Plus credit card from American Express: Best for earning fixed interest rates
- Marriott Bonvoy Business® American Express® Card: Best for business travelers loyal to Marriott
- Hilton Honors American Express business card: Best for business travelers loyal to Hilton
As you can see, frequent business travelers can get the most out of the Amex Business Platinum. But Marriott loyalists may prefer the Marriott Business Amex. And businesses that like cash back rewards will likely choose the Amex Blue Business Cash Card.
Related: How to fill out the Amex business card application
Bottom line
The Amex Business Gold Card offers 4x rewards Member reward points on purchases in select categories (with qualifying purchases up to $150,000 per calendar year). As a result, this card can be a great choice for small businesses that incur significant costs each billing cycle in one or two card categories.
Friend No need for a perfect credit score to get Amex Business Gold Card. A good credit score of 700 or higher may be enough for approval, especially if other details about your business show your application is relatively low risk.
Official application link: American Express Business Gold Card
For Amex Business Gold Card rates and fees, please click here.
