Credit Cards Tips for You

The Amex Gold card is one of American Express’s premier rewards charge cards – with better travel rewards than the Green Card and without the $450 annual fee of the Platinum version.  And until November 14, the Business Gold Card from OPEN is offering a signup bonus of 50,000 Membership Rewards Points to anyone who spends $10,000 in the first four months.

This promotion makes The Amex Gold Card one of the best business rewards cards out there, at least for the next two months, since those 50,000 bonus points will net your business either two domestic plane tickets, or a check for $500.  Additionally, putting $50,000 or more of business expenses on this card will get you an additional 25,000 bonus Membership Rewards Points every year you have the card.  This $250 worth of annual bonuses is double the $125 annual fee that kicks in after the first year.

Is this a good choice for my business?

Whether this card is right for you and your business depends what your business needs are.

If you need access to credit and will occasionally carry a balance month-over-month, then this card won’t help you.  American Express charge cards like this and the Platinum Business Rewards Card require you to pay your balance off each month.  You still get the month of free float until your bill comes due, but you won’t have the luxury of spending beyond a month’s cashflow.

Also, credit standards for this card are pretty high.  Your business needs to be cash flow positive and have good credit.  You need to have at least two employees and be making $250,000 in annual revenues.  And being registered with a business credit reporting agency like Dun&Bradstreet helps.  Not to mention the fact that in order to maximize your rewards, you need to be racking up $50,000 each year in business expenses, which is no small feat.

If you’re still questioning whether this might be right for you, check out our business credit card rankings and see how it compares to the rest of the cards out there.

Other business credit cards worth considering

Here are a few other business credit cards with great rewards programs that you should consider, if the Amex Gold isn’t right for your business needs:

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