Wednesday, October 6, 2021

The revamped American Express Business Gold Rewards Card is now here with a 70,000 point welcome bonus


Early in September we provided our readers with details of the changes coming the American Express® Business Gold Rewards Card. Those changes are now here and along with the relaunch of the card comes an increased limited time welcome bonus offer of up to 70,000 Membership Rewards points.

The Welcome Bonus

The 70,000 point welcome bonus for new Business Gold Rewards Cardmembers takes what has now become a familiar pattern from American Express with the initial spend bonus and then the 'hold on to the card for more than one year' bonus:
  • 60,000 points will be awarded upon spending $5,000 in purchases on the Card in the first 3 months of Cardmembership
  • An additional 10,000 points will be awarded when making a purchase after 14- months of Cardmembership.

The changes

Earn rate changes

The base earn rate of 1 Membership Rewards point per dollar isn't changing however American Express has removed the three supplier program and replaced it with a quarterly spend bonus. For those who have this card or are familiar with it you'll know that you could pick three suppliers from a list of merchants where you would earn 2 points per dollar spent instead of the standard 1 point. The three supplier program will remain in place until March 31, 2022 at which point it will be discontinued. In its place the card now earns 10,000 bonus points for every $20,000 spent in each calendar quarter. This means you could earn 40,000 extra points if you do spend that much every three months on the card. You do have note that if you don't spend that much you won't get any bonus. Amex also advises that purchases made towards the end of a calendar quarter may not count as well if they post to your account after the end of that quarter (ie purchase made on June 29 that posts on July 1) So be sure to keep this in mind!

Mobile Device insurance

Just as we saw on the Cobalt Card, the American Express Business Gold Rewards Card now has a Mobile Device Insurance Benefit.

Annual fee change 

In what is a rarity when credit card changes are announced the annual fee on the card has dropped from $250 to $199.

Recycled Plastic 

Also like the recent Cobalt Card and Green Card updates any new or replacement Business Gold Rewards cards will be made from 99% recycled plastic.

Wrapping it up

This is a decent bonus for a card that costs $199 per year. 60,000 point translates to no less than $600 in value and then in year two you'll get that additional 10,000 points for another $100 in value albeit by paying your annual fee again. Those are the minimum values when utilizing the Use Points for Purchases redemption rate of 1,000 points to $10. Use the Fixed Points for Travel redemption and that value can go as high as double the dollar values listed above. Convert to Aeroplan, Air France KLM, British Airways, Marriott etc. and you can easily more than double those values.

I know for some people these changes won't be welcome as they have enjoyed that 2x points earning with select suppliers. Now, to be able to earn extra points users have to be able to hit that quarterly spend target of $20,000. I see this change being made to shift the usage of this card to businesses who do actually need to use the card for actual business purchases all the while curbing the gaming of the card by non-business users who simply got it to earn the 2x points via the bill payment company Plastiq. 

Learn more about and apply for the American Express Business Gold Rewards Card here.

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