The card that gives you the right to choose and offers flexibility.
The card is extremely popular due to the fact that it offers its cardholders choice. It waives the fee during the first year, but you’re expected to pay $175 starting from the 2nd year. The card implies no limit in terms of the credit lines and comes with the rewards that you can choose by yourself. This is the alternative version of the Business Platinum® Card from American Express OPEN.
Let’s have a look at the basic features of the card so that you can clearly see what you’ll get if you decide to apply for it.
General information on the card
- You can use the card abroad. There is no fee that applies in case you decide to make purchases with your card while travelling.
- There is an annual fee that you’re expected to pay.
- You’re required to pay the fee of $175 starting from the 2nd year of using the card.
- Standard APR: To get more information on the APR, please visit the official website of the emitting bank.
- Special Offer: it’s stated that every new cardholder will be rewarded 50,000 points in case he/she manages to spend at least $5,000 on various purchases with the card within the first 3 months.
- Special offer in terms of APR: No offer for this card.
More information concerning the card:
- The card rewards every new cardholder a good sign-up bonus.
- You’re free to choose up to 5 categories for the purchases in which you’ll get 3 points for each dollar spent.
- If you make purchases in all the rest 4 categories, you can expect the following rewards rate: 2 points/$1. Any other purchases you make with the card will bring you 1 point per dollar spent.
- There is a very big spending limit that you may not exceed. The rewards rates mentioned apply for the $100,000 spent on the purchases in “bonus” categories with the card. After that, you’ll get 1 point for every purchase made.
- The card provides you with a set of tools for you to be able to plan and keep all your business expenses under control.
- If you need to go on a business trip abroad, you can take the card with you. You won’t have to pay any additional fee when you make any purchases with your card abroad.
- The annual fee is waived for the 1st After that, be ready to pay $175 each year for as long as your account is active.
- Mind that the offers that come with the card are bound to certain terms and limitations.
The reasons for you to consider applying for the card
- You’re the one who wants to be able to choose the “bonus” categories by yourself. The card leaves it up to you to choose the categories for the purchases in which the highest rewards rate will apply. The list of the categories involves airfare purchases (made directly via the airlines), certain US advertising purchases, purchase made at the US gas stations and purchases of software, hardware and cloud computing made in the US (and directly via the websites of certain providers).
In case you make purchases in the categories mentioned above, you’ll be rewarded 3 points for each dollar you spend. Keep in mind that there are also categories that imply the rewards rate of 2 points per dollar. The rates apply for as long as you don’t exceed the limit of $100,000 in each of the categories. After that the standard rate of 1 point for each dollar spent applies. You can choose your bonus categories once in a year. You can now see that the card offers good rewards rates for its potential cardholders. To male the things even better for you, you will be able to take advantage of the Savings feature that offers discounts and additional bonuses on and for the purchases made at certain merchants.
- You’re the one who looks for the flexibility in terms of credit lines. Of course, this credit card implies a certain charge that its cardholder should pay. However, it is different from the majority of credit cards available nowadays at the market. The first thing that makes it different is the fact that a cardholder is required to pay in full during each month. Besides, there is no spending limit preset. In other words, your purchasing limit depends on the history of using the card, financial resources and a number of other factors. Consequently, you will be able to spend more with this card than with a standard credit card with a fixed limit.
Actually, this feature may be very beneficial if you run a small business and your expenses are quite high. Once you get the card, you can forget about the need to worry about exceeding the maximal spending limit.
- You’re the one who is looking for a card with a big sign-up bonus and exclusive passes. The truth is that this is the best small business card to have if you want to get a really big reward that means to welcome new cardholders. In case you meet the requirement mentioned above, you’ll be rewarded 50,000 points. One more thing that we should point out is a certain benefit that allows you to book tickets to special events, concerts etc. on the official AMEX Seating website (The feature we’re talking about is the Seating feature).
The reasons for you to consider applying for a different card
- You’re the one looking for exclusive travel perks. This card seems to be a good option for those who run business in one certain city and don’t have to go on business trips rather often. If you’re a big boss who flies from one city to the other one on business and wants to be treated respectively when travelling, you need to pay attention to the Business Platinum® Card from American Express OPEN. It has a rather high fee of 4450 to be paid each year, but we believe it’s totally worth the VIP perks you get. For example, you may enjoy the free access to airport lounges in all parts of the world and increased effective rewards rates.
- You’re the one who believes a credit card should be as simple as possible. Despite the fact that the card we’re talking about in this article has good rewards rates to offer, the structure of earning them is far from being simple. If you think that the best credit card for you will be a card with a straightforward earning rewards structure, we recommend you finding more facts about the Capital One® Spark® Cash for Business. This card allows its cardholders to earn rewards for every purchase they make and has no annual fee to pay during the first year ($95 after that). Actually, some cardholders find the flat rewards rates to be the easy way of earning lots of points with a card.
Summary: Is the Business Gold Rewards Card from American Express OPEN worth paying attention to?
The card is great for you if you don’t mind the complicated earning rewards structure and want to be able to adjust a credit card according to your own needs. With this card from the AMEX you’ll be able to choose your own bonus categories and won’t have to worry about the limit to exceed.