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American Express Gold Business Card

My monthly spend: 
$5,000
 
offer
card features
rewards program
earn rate
sign up bonus
your earnings
Receive 10,000 Membership Rewards points when you apply, are approved and spend $1,000 in the first 2 months (New American Express Card Members only).
Earn up to 1 Membership Rewards point per dollar spent.
No pre-set spending limit means more flexibility.
Add to comparison
Membership Rewards Ascent
Membership Rewards Ascent
1 pt
per $1 spent
10,000
Membership
Rewards points

Pros & cons

What's good?

What's not so good?

New American Express Card Members who apply for the Gold Business Card, are approved and spend $1,000 in the first 2 months of Card Membership will receive 10,000 Membership Rewards points.
Earn up to 1 Membership Rewards point per dollar spent
No pre-set spending limit means more flexibility.
Extend your cash flow up to 51 days.
Receive monthly statements that provide a detailed, itemised list of business expenses.
Cards are Chip, PIN and Contactless enabled providing enhanced security, speed and convenience when making a purchase.
Transfer points to 8 airline rewards partners and 2 leading frequent guest partner programs.
Membership Rewards points are not capped and they don’t expire.
Travel Inconvenience Cover and Transport Accident Cover.
Extra fee of $80 p.a. if you want to opt into the Membership Rewards program.
Additional card fee of $119 p.a.

Review

Our review of the American Express Gold Business Card

Here’s a gold-plated opportunity to earn a ton of rewards points just for doing business as usual. The American Express Gold Business Card will deliver AmEx Membership Rewards signup bonus points, ongoing points at a satisfactory rate, Up to 51 days on purchases and top-level insurance cover, all packaged in a card designed to make your business life much easier.

10,000 Membership Rewards points bonus points

If this is your first American Express Card, AmEx will thank you for choosing them with a gift of 10,000 Membership Rewards points provided you spend at least $1,000 with the card in the first two months, a target most business cardholders should be able to achieve.

You could transfer those 10,000 Membership Rewards points to Virgin Australia’s Velocity Frequent Flyer program (at the rate of 1 pt per $1 spent) and have enough points to fly from Sydney to Melbourne or Brisbane (6,900 points) and almost enough to fly from Melbourne to Brisbane or the Gold Coast (10,900 points). You won’t qualify for the bonus points if you have held any kind of AmEx card in the previous 18 months.

Earn up to one point per dollar on purchases

Once you’ve got your points account off to a flying start with the signup/first purchase bonus, you can continue to accumulate points from your business expenses (and from your non-business expenses, if that’s the way you choose to use your card).

  • For payments to utilities, non-AmEx insurance companies and government bodies, you’ll earn 0.5 points per dollar
  • For all other purchases you’ll earn one point per dollar

Paying your taxes through the ATO’s EasyPay system becomes less painful when you earn 0.5 points for every dollar you part with. (The ATO charges a 1.45% fee for AmEx payments and a 0.42% fee for Visa and MasterCard payments.)

Points are uncapped and never expire, so you can use your card as much or as little as you like, secure in the knowledge that the earning rate will continue as stated and that you won’t use your valuable points as a result of inactivity.

There’s just one catch (or extra option, depending on your viewpoint). Membership of the rewards scheme is not automatic. You need to opt in, and pay an annual fee of $80 on top of the standard annual fee for the card. That $80 will be quickly recovered with just $10,800 of purchases, but if you don’t want to bother with points you don’t need to.

Heaps of ways to redeem your points

The hardest part about redeeming AmEx points is choosing between the many redemption options, although transferring them to an airline frequent flyer program probably delivers the best value. Here are just some of the things you can do:

  • Transfer your points to nine airline frequent flyer programs, mostly at a 1:1 conversion rate. The partner airlines are Virgin Australia, Air New Zealand, Singapore Airlines, Emirates, Etihad, Cathay Pacific, Thai Airways, Virgin Atlantic and Malaysian Airlines, but not Qantas (which requires Ascent Premium membership).
  • Transfer your points to two frequent guest programs: Hilton HHonors and Starwood preferred guest.
  • Shop online for merchandise at davidjones.com.au.
  • Purchase retail gift cards. Higher value cards require fewer points per dollar, so accumulate as many points as possible before redemption if this is your preferred option. (115,000 points for a $1,000 card, but cards start at $10 for 1,400 points.)
  • Pay with points for travel at American Express Travel Online, Hello World and Webjet.
  • Book entertainment tickets through Ticketmaster.
  • Swap points for a cashback, credited to your card account.
  • Buy foreign currency from American Express.

Interest-free days, even though it’s a charge card

This is not a credit card, but a charge card. You can’t treat it like a revolving line of credit, and choose to repay only a minimum amount and accrue interest on the remaining balance. There are no interest rates quoted, no balance transfer option and no cash advances, because you will be expected to repay your account balance in full on the due date every month.

However, during the course of the month you will receive Up to 51 days on purchases, which gives you some flexibility in managing the cash flow of your business. Plan your major purchases to fall at the beginning of the statement cycle and keep your cash in the bank for Up to 51 days on purchases until payment is due.

Avoid being late with payments because there is a steep $20 late payment fee. Prolonged payment default will attract liquidated damages charges, which can be punitive. You can sign up for SMS or email alerts to notify you when payment is due, as well as giving balance updates and payment confirmation.

Business-oriented insurance cover

This is both a gold card and a business card, so it includes both international and domestic travel insurance for business and personal travel, with additional business cover that does not come with the average personal card. The complementary policies are:

  • Annual multi-trip international travel and domestic air travel insurance for the cardholder (including supplementary cardholders) and their immediate family. It covers emergency medical expenses (overseas only), luggage, delayed and missed flights, unavoidable trip cancellation, personal liability, and more.
  • Transport accident insurance, providing cash compensation for loss of life or limb while traveling on public transport.
  • Card account balance waiver cancels the amount owing on the card (up to a maximum of $20,000) in the event of a successful transport accident claim.
  • Business trip completion cover reimburses the expenses of an alternative employee’s trip if serious illness or death prevents the cardholder from completing a business trip.

Just pay all your trip fares with the card to activate the policies. This type of comprehensive business cover would probably cost well in excess of $1,500 per year on the retail insurance market.

Making your business life easier

The business-tailored aspects of this card are not confined to insurance cover designed for business travellers. There’s an abundance of other features designed to smooth the path of the small business person or sole trader:

  • Monthly statements itemising business expenses and providing GST details to assist in BAS and tax return preparation
  • Statements and transaction details can be downloaded to Quicken, MYOB and Excel for seamless integration with your accounting system
  • Access up to six months of historical transactions online
  • Consolidates primary and supplementary/employee cardholder expenses
  • No pre-set credit limit (but not limitless credit), providing greater flexibility than a fixed-limit credit card
  • Instant SMS and email alerts available
  • Speedy, PIN-free contactless transactions under $100
  • Card can be used with Apple Pay, transforming your iPhone or iPad into a digital wallet
  • Online fraud protection guarantee
  • Global 48-hour emergency card replacement
  • Award-winning customer service

What’s not so good?

There are so many positives to this card it’s easy to lose sight of a few downsides. For a start there’s the fact that American Express cards are not universally accepted, and when they are accepted they often attract a surcharge. (However, Coles, Woolworths and major national retailers will accept AmEx without demur.) You can’t do a balance transfer from another card, or take a cash advance, or elect not to pay your account balance in full and on time.

The annual card fee of $169 p.a. is not negligible, plus there’s an $80 p.a. fee for the rewards program, and each supplementary card costs a pricey $119. So the overall package, with just one card for a spouse or an employee, costs $368 every year. Nevertheless, the points and insurance, if you can use them, will recover the fee several times over.

Similar cards worth considering

This card lies in the centre of the range of AmEx business cards. AmEx has the whole spectrum covered, with the more modest American Express Business Card ($109 p.a.), the American Express Business Accelerator Credit Card ($160 p.a.) and the sky-high American Express Platinum Business Card ($1,500 p.a., justified by the elite-level rewards). There are also AmEx business cards dedicated to the Qantas and Velocity frequent flyer programs if you are already locked into either of these reward schemes.

But you can also use a personal credit card for business purposes, if rewards and complimentary benefits are more important to you than the card’s business features. For a similar cost ($395 p.a.) you could have the Westpac Altitude Black Credit Card, an AmEx/MasterCard duo with a choice of rewards programs, a high points earning rate and lots of built-in benefits.

So why choose the American Express Gold Business Card?

If you are operating your business on a sound financial basis, the fact that this is not a credit card won’t concern you, because your bank will already cover your borrowing needs at a competitive interest rate. What really sells this card is the point that it is custom-made for business purposes and will prove its worth at tax time, and also when you need to see historical expenses so that you can set up a budget for the future. Issuing supplementary cards to employees will ensure that you can keep business costs down (or employee morale up) by earning rewards merely for going about your normal business.

User reviews

3.3 out of 5.0 based on 1 review100% of reviewers would recommend this card.

Rates and fees
Customer service
Convenience
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Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

I am very happy with this card and rewards

Reviewed and recommended by Michelle Clark on 20 Jul 2015

I am a long time AmEx user – I have gold and platinum, and love them. The rewards have been very important for me, my family, and our four grandchildren.

The only issue is Aldi and other stores, restaurants, bars, and businesses do not accept AmEx, which I find difficult to get my head around.

Basic details

About this card

Card setup
Single
Card tier
Gold
Card type
American Express
Card use
Business
Credit rating
No bad credit history
Gambling transactions allowed
No
Joint application
N/A
Minimum age
18 years old
Minimum income
$24,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Membership Rewards Ascent
Temporary residents
N/A

Cardholders

Additional cardholders
1
Additional card fee
$119 p.a.

Credit limits

Minimum credit limit
N/A
Maximum credit limit
$50,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 51 days on purchases
Minimum repayment
100%

Rates & fees

Ongoing interest rates

MonthlyAnnually
Cash advances N/A N/A
Purchases N/A N/A

Fees

Annual fee
$169 p.a.
Annual fee 2nd year
N/A
Cash advance fee
N/A
Dishonour fee
N/A
Duplicate statement fee
$7
Foreign exchange fee
3%
Late payment fee
$20
Over limit fee
$0
Overseas ATM balance fee
N/A
Overseas ATM withdrawal fee
N/A
Overseas emergency card replacement fee
N/A
Transaction verification fee
$0

Rewards

Rewards program basics

Reward points expiry
No expiry as long as you keep your account active
Rewards program
Membership Rewards Ascent
Sign up bonus
10,000 Membership<br /> Rewards points
Spend required for bonus points
N/A

Earning points with this card

Frequent flyer points
N/A
Overseas earn rate
Same as standard earn rate
Points cap per month
N/A
Points cap per year
N/A
Reward points
1 pt per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
No

Benefits

This card comes with benefits worth an estimated $1,694

TravelEstimated value
Interstate flight inconvenience insurance
Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
$290
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online. Includes cover for several items including card account balance waiver and business trip completion.
$1,254
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
$150
Total estimated value$1,694
Annual fee$169
Net customer value$1,525
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $24,000 per year
Have no history of bad credit
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Age Pension, Disability Pension, Overseas Pension, Veteran's Pension and Widower's Pension are acceptable.
Austudy, Carer's Allowance, Child Support Payments, Family Tax Benefits and Parenting Payments, Foster Care Allowance and Youth Allowance are acceptable.
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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