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Credit Card Reviews » The Gold Card from American Express OPEN SM |
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American Express offers a charge card designed with business owners who pay off their balance in full each month in mind. The Business Gold Rewards Card is tailored towards owners with a good credit history. It also offers the opportunity to participate in their Membership Rewards® program, which requires no additional fee.
Despite the fact that this card does not have the option to pay off balances in low monthly increments, it does provide some significant benefits.
For instance, the very nature of the card helps businesses to avoid accumulating too much monthly credit card debt. With the temptation to pay only the minimum amount due, and factoring in interest rates, debt can mount significantly in just a short period of time.
Another great benefit, the Membership Rewards® program, is one of the most extensive reward programs in the credit card industry. This is based on the diversity of merchandise and services that can be purchased for the owners cumulative points. What's more, points never expire, and there is no ceiling on the number of points that can be earned.
Here's how it works. Spend bonus points will be awarded to your account depending on the amount of Eligible Spending in each membership year, as follows: If your Eligible Spending in a membership year is equal to or greater than $20,000 but less than $50,000, you can earn 5,000 spend bonus points; if your Eligible Spending in a membership year is equal to or greater than $50,000, you can earn an additional 20,000 spend bonus points. Spend bonus points will be credited to your Membership Rewards account 12 to 14 weeks after your Eligible Spending reaches the $20,000 and $50,000 threshold amounts, respectively. A one–time renewal bonus of 10,000 points will be awarded to your account 12 to 14 weeks after you pay the annual membership fee for the second membership year
During the first year of participation, the annual fee will be waived. For each year after that, a $125 fee will be assessed for the primary cardholder, with an annual $45 fee for each additional cardholder.
With the benefits of OPEN Savings, cardholders can be privy to various discounts on products and services from participating partners. Such dependent business names as FedEx®, AT&T®, and Hertz® just to name a few. While this is a handy feature, some restrictions and/or limitations do apply. So be sure to review the disclosures pertaining to participating merchant discounts.
If paying off your monthly balance in full is something that your organization can afford, you will be able to take advantage of the Membership Rewards® program, along with the aforementioned discounts through participating merchants. With this level of appeal, The Business Gold Rewards Card may be the right choice for your business.
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n/a Intro APR (* see notes for details)
n/a Regular Fixed APR for Purchases
see terms Regular APR for Cash Advances |
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see terms* Grace Period |
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| Finance Configuration: n/a |
| Additional Cardholders: $45** |
| Late Payment Fee: see terms |
| Over-The-Limit Fee: n/a |
| Cash Advance Fee: n/a |
| Balance Transfer Fee: n/a |
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| Minimum Credit Limit: n/a |
| Maximum Credit Limit: n/a |
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| Type of Reward: Point |
| Points per Dollar: 1.00 |
| Additional Points: Points can be redeem for top-tier rewards quickly - travel, office equipment, entertainment events, high-end merchandise - or build them up over several years if you prefer. Additional points can be earned through participating partners. |
| Bonus Points First Purchase: 5,000 Points |
| Bonus Points Annually: 40,000 Points*** |
| Bonus Points Other: ***Cardholders receive 10,000 bonus points upon their one-year card renewal. ****Cardholders receive 5,000 bonus points for reaching $20,000 in spending in a year |
| Point Details: ***Cardholders receive 10,000 bonus points upon their one-year card renewal. ****Cardholders receive 5,000 bonus points for reaching $20,000 in spending in a year, and they receive an additional 20,000 bonus points for reaching $50,000 in spending in a year. |
| Expiration: None |
| Yearly Limit: None |
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| Additional Features for The Gold Card from American Express OPEN SM: |
Access to the OPEN Savings program for discounts on products and services at participating merchants and retailers.
Access to savings on air, hotel, and car reservations when cardholders book through the Online Business Travel Center.
Access to expense management reports that are compatible with QuickBooks®.
Various Internet account related services.
Lost and damaged luggage insurance.
Auto rental insurance.
Extended warranty for purchases.
Purchase protection.
Return protection.
No liability for unauthorized transactions.
Emergency card replacement.
Identity theft assistance.
Emergency check cashing.
See website for additional benefits. |
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| Important Notes for The Gold Card from American Express OPEN SM: |
The card has no pre-set spending limit; however, purchases are approved based on credit record, account history, and personal resources.
See website for complete terms and conditions of card usage and application disclosure. |
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| Notes: The review on The Gold Card from American Express OPEN SM was updated on March 10, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update.
We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application. |
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