Amex Business Gold Changes
My favorite card issuer is at it again, and in a very familiar way. Amex took their recently-used template for Platinum, Business Platinum, and Bonvoy Brilliant tweaks and applied it to the American Express Business Gold. Simply stated, they’ve tossed in a mess of changes along with an increased annual fee. You can check out DDG’s post for the all-encompassing rundown. Today, I’m stepping through the Amex Business Gold changes which grabbed my attention most and my overall take.
New Credits
Let’s start with perhaps the most commonly valuable change for all cardholders, whether casuals or hardcore hobbyists. Amex has instituted two new monthly credits to the Business Gold. The Flexible Business Credit provides a $20 monthly statement on eligible office supply store, GrubHub, and FedEx purchases. That first one will work out fine for many of us, especially since we can buy third party gift cards there. Existing consumer Gold cardholders who use that card’s monthly $10 dining benefit at Grubhub may appreciate another $20 of capacity for those purchases, but unfortunately, it’s still not as user-friendly as the other $10 monthly credits automatically applied to Uber wallets. Undoubtedly, many individuals can easily use the $20 on their normal FedEx business costs.
Business Gold holders who use their card to pay for a Walmart+ membership also receive a credit to cover that monthly cost, which would normally be about $155 annually. Existing Platinum cardholders already receive that benefit and justifiably roll their eyes at this duplication. But on a positive note, more individuals now have access to this perk without having to commit to the Platinum and its $695 annual fee.
More 4x Spend Opportunities
With these changes, Amex has added two underrepresented bonus categories. Business Gold cardholders can now earn 4x on wireless and transit purchases (including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways). After this stunt, my wireless costs are extremely low, but I fully understand how this is a considerable expense for many business owners. I’ve mostly used the Chase Sapphire Reserve for transit purchases up to this point, as certain ones listed above are considered travel (3x). But I’ll now consider the Business Gold my primary go-to card for all of these purchases. The final, new 4x category is a snoozer for me but probably not certain business owners -purchases from U.S. electronic goods retailers and software & cloud system providers.
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Cell Phone Protection
The Business Gold card now sports an impressive cell phone protection plan similar to what people see on ultra-premium cards with substantially higher fees. Cardholders receive up to $800 of coverage for damage or theft, limited to two claims per twelve months ($50 deductible applies per claim). Again, due to my almost-free wireless service hijinks, I’m not eligible since one must pay for their service with this card for protection. But many happily will at 4x earning!
The Price of Admission…
…for these new benefits (and everything else in DDG’s post) is an $80 annual fee hike to $375. Also, cardholders lose 4x earning on airfare and shipping purchases. Heavy airfare spenders may want to consider the Platinum and its 5x earning, anyway. Travelers should note that the 25% airline bonus (provided as points back) will be phased out on 1 February 2024. I haven’t been a big user of this benefit, but I know many swear by it. But some in that group opt for the Business Platinum’s version of this benefit, which is a 35% bonus.
My Overall Take
As with previous Amex changes, there’s a bunch of noise mixed in with a few new, useful benefits. And yet again, those new benefits put more responsibility on cardholders to maximize. Considering the specifics of said changes, I’m okay with that task. On the flip side, many will just consider these monthly credits yet more work to consume and mind clutter they don’t need. That’s completely understandable!
But I’m at Office Supply Stores routinely, anyway, and I can easily identify third party gift cards I fully value for organic spending. That $240 nets $160 after taking into account the annual fee increase. I’ll exclusively use the Business Gold for transit purchases at 4x earning. I don’t highly value the other changes, but I don’t need to, based on what I’m already picking up with the new credits. I don’t think I’m alone here.
Others, especially those who don’t hold ultra-premium cards, will pick up even more benefits. They won’t need to bother with those sky-high annual fee cards to pick up cell phone protection or Walmart+ membership. And, importantly, some of the solid 4x categories like U.S. gas stations and restaurants remain, along with the new entrants.
The American Express Business Gold card has become even more attractive to active hobbyists, in my view. The changes are a net win, scalable categories remain, and this product sets the stage for potentially lucrative upgrade offers to the Business Platinum. I plan to continue applying for Amex Business Golds with the right offers and no lifetime language.
Amex Business Gold Changes – Conclusion
Amex may be playing the same tune with these changes, but I don’t mind the song. If this is how I must accept an annual fee increase, I’m okay with it. Even better, existing cardholders, and those who apply before 1 February, can leverage many of the new benefits, including credits and 4x earning, under the current $295 annual fee. As always, individuals who solely focus on the card’s annual fee are probably disappointed. How do you feel about the Amex Business Gold changes?
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Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Purchases from U.S. electronic goods retailers and software & cloud system providers – may have usefulness at 4X for resellers or even just third party GC from Best Buy