New Business Gold is out: No Welcome Bonus Offer (At least no points!)
I’ve been heaping the praise on Amex lately for changes they’ve been making. The consumer version of the new Gold Card with it’s 4x on dining and supermarkets was great and yesterday they added Avianca as a transfer partner.
At the same time, we had the rumor about the changes to the Business Gold Card and I advised readers to pick up that card yesterday earning 50,000-75,000 bonus Membership Rewards points and a fee waiver year 1. We looked at the planned benefits and while the 4x on two categories is nice, I said that it seemed to need more to cover a $295 annual fee with no first year waiver.
The new Business Gold Card is out and I’m disappointed. Everything is exactly as posted yesterday and there is nothing additional. Not even a Welcome Bonus for Membership Rewards points (yesterday, it was 50,000 with the potential for up to 75,000 by phone). I even checked to see if an Amex cardmember referral offer would offer points, but as of this post, there are no offers there at all.
Instead of a Welcome Bonus of points, they are offering two perks that, in theory, are worth up to $3,188. You can get up to 1 year free of G Suite Basic for 3 users and up to 1 year of ZipRecruiter Standard for free. That’s the Welcome Bonus.
I’d love to hear from readers that I’m wrong and that this is exactly what Small Business owners want. But I own a small business and I don’t need either of these things. If I’m off base, call me out in the comments.
Additionally, there are no other benefits that offset the lofty $295 annual fee. The consumer card has $10 monthly Seamless/GrubHub credits that amount to $120 off the annual fee as well as a $100 annual airline credit. The personal card’s fee can therefore be considered a net $30. But the Business card has no such offset. To get outsized value from this card, you need to be spending big against the 4x categories. You’ll really need to do your math in the annual fee worksheet.
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