American Express is offering 100,000 Membership Rewards Points for new Card Members of the American Express Gold Business Card until 7 October 2020.
A minimum spend of $1,000 within the first 2 months of approval is required to receive the 100,000 bonus points and will be credited to your account around 8-10 weeks after the minimum spend is reached.
The card includes complimentary travel insurances and Card Members can also add up to 99 Employee Cards to help keep track of expenses.
It is worth knowing that Membership Rewards Ascent points are transferable to 8 key frequent flyer programs, including KrisFlyer, Asia Miles, Etihad Guest and more—on a 2:1 basis. This means that the current 100,000 bonus points are equivalent to 50,000 points when transferred to the aforementioned programs.
How you could use the bonus points from this card
All redemption figures above exclude any accompanying taxes, fees and charges. Points redemption price data is provided by a third-party. For an exact total redemption cost, please consult with the airline directly.
The American Express Gold Charge Card is aimed at business owners who want to earn Membership Rewards on their business-related expenses but don’t want or need all the benefits of the Platinum Business Charge card.
|Card||American Express Business Gold Card|
|Loyalty Program||American Express Membership Rewards|
|Points earned from spend||Earn 1.5 points per $1 spent on all purchases, except for those in the 1 point category such as government bodies|
|Included Insurance||Travel insurances (PDS)|
|Overseas transaction fee||3% of the converted amount|
|Minimum income requirement||Annual business revenue of $75,000 or more|
|Annual Fee||$169 p.a. (plus optional $80 Membership Rewards fee)|
Effective Frequent Flyer Program Point earn Rates
|Frequent Flyer Program||All spend except on government bodies|
|Qantas Points||1.125 points / $|
|Singapore Airlines Krisflyer Miles||1.125 miles / $|
|Cathay Pacific Asia Miles||1.125 miles / $|
Benefits of the Gold Business Card
The benefits of the Gold Business Card include:
- Able to earn Membership Rewards points on spend (additional $80 Membership Rewards fee on top of annual fee)
- Up to 99 Employee Cards ($119 per card)
- Up to 51 cash flow days
- Flexible Payment Option
- Travel insurances (read full PDS here)
Gold Business Card is a charge card
This is a charge card, which means that the balance of the card must be paid for in full each month, as opposed to a credit card, where you can carry your balance over to the next month.
American Express offer some more detailed information regarding the differences between a charge and credit card here.
Earning points from spend on the Gold Business Card
With the American Express Gold Business Card, you will be able to earn Membership Rewards Ascent points on spend if you decide to enrol to the program.
Membership Rewards partners with the major frequent flyer programs in the region as a flexible points program, which allows on-demand transfers of your points over to the frequent flyer program at your request.
The American Express Gold Business Card earn rates are as follows:
- Earn 1.5 points per $1 on all purchases, except those in the 1 point category
- Earn 1 point per $1 spent with government bodies
The ability to earn 1.5 points per $1 on utility transactions including gas, water, electricity providers and insurances is a big advantage of the card. You can also earn 1 point per $1 on all government spend such as the Australian Taxation Office, Australia Post, federal/state and local government bodies.
Flexible Payment Option
Business owners can free up their cash flow with an instant line of credit on their Charge Card. Instead of paying off the balance in full each statement period, it can be paid off over time.
How it works:
- The Card Member will receive a statement at the end of each statement period summarising their spend
- They can choose to pay the Closing Balance, the minimum amount due, or any amount in between (up to their Flexible Payment Option Limit).
- They can carry over any unpaid amount to their next month’s balance. Any amount not paid in full will incur interest at a rate of 19.99% p.a. until repaid.
Given that each person’s insurance needs are different, we will list down the coverage that comes with the card but make sure to check out the full Gold Business Card Insurance PDS and assess whether it will cover your needs.
Depending upon the type of cover, the insurance is activated by either just being a Gold Business Card Member, or by making a purchase of an eligible item.
The insurances included are:
- Cover for business travel
- Business trip completion travel
- Travel cancellation and travel inconvenience insurance
- Complimentary baggage insurance
This guide references some of the benefits of insurance policies provided with this card. You should read the PDS and obtain independent professional advice before obtaining this product.
Key eligibility requirements for the American Express Gold Business Card
- Must be an Australian citizen or a permanent resident
- Have a personal gross (pre-tax) annual income of $75,000 or more
- Operate a trading ABN or ACN
There are no requirements for the self-employed to have been trading for 18 months or 12 months if they hold another American Express card when considering the Gold Business Card. Therefore, this card could be an alternative to the featured-packed high annual fee Platinum Personal or Business Charge cards.
Summing up: American Express Gold Business Card
If you just need a no-frills business card to be used for business-related expenses, then the American Express Gold Business Card might be worth considering, given its low ongoing annual fee.
It is worth noting though that if you would like to earn Membership Rewards Points on your business-related spend then you will have to pay for the $80 enrolment fee.
If you are after a business card with more features and options, the American Express Platinum Business Card might fit the bill better, even with its high ongoing annual fee.