As the global marketplace grows increasingly competitive, business owners need every edge they can get, and having a bank card that has perks specifically designed to boost business can be a real asset. Some so called business cards, however, seem to offer few, if any, real advantageous benefits for those running an organization.
This is not the case with The Business Gold Rewards Card from American Express OPEN, which has a bevy of attractive attributes that make it a compelling option for business owners.
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The Business Gold Rewards Card from American Express OPEN
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$0 first year
$175 after first year |
50,000 Membership Rewards points After you spend $5,000 in purchases on the Card within your first 3 months of Card Membership Read Review » |
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The Business Gold Rewards Card from American Express OPEN |
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Firstly, the welcome offer is an enticing 50,000 Membership Rewards points once you spend $5,000 in the first three months of being a cardholder. Points can go towards a variety of merchandise, travel, gift cards, transportation, charity donations and statement credits. Point value varies depending on what you redeem your rewards for.
One of the most unique aspects of this gold card is that card holders actually get to pick where they will earn the most points. They will earn 3X the points from a choice of: Airfare bought directly from airlines; U.S. purchases towards advertising in qualifying media; U.S. purchases of gas; U.S. purchases for shipping; or U.S. purchases of computers, software and cloud computing. They will get 2X points in the remaining four categories and 1x points on all other purchases.
Note that the 3X and 2X redemption value only applies to the first $100,000 (though this is quite a generous cap) spent in each of the categories. Once you reach $100,000 in a category, points only earn 1x for the remainder of the year.
The charge card also gives card holders access to a variety of business tools like ReceiptMatch, OPEN forum and QuickBooks. This gold card also gives members access to the OPEN Savings benefit which grants either a 5% discount or 2 additional reward points per dollar spent at eligible OPEN Savings merchants. Partners include FedEx, Hertz and HP. Other benefits include warranty protection, rental car damage or loss insurance, travel insurance and premium roadside assistance, among others.
The card does not charge a foreign transaction fee but there is an annual fee of $175, though this is waived in the first year. Employee cards feature a $0 introductory annual fee in the first year and then increase to $50 for the first employee card and then no fee for all other employee cards.
Because this is a charge card, there are no standard interest fees though you must pay off your balance in full each month. Failure to do so could result in account closure. In some cases, eligible clients will be permitted to enrol in the American Express Pay Over Time program. This program allows select card holders to pay some purchases over time with interest.
Despite the Business Gold Rewards Card’s attractive perks, it isn’t for everyone. Applicants require an excellent credit history and must be disciplined and on top of things to ensure they pay off their balance each month. If you are, however, a money-savvy, big spending entrepreneur looking to maximize reward points, then this card could be a helpful business partner.
What do you think of the American Express Business Gold Rewards Card?
[Image via Getty]