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"Comparisons and secure applications of the best credit card offers online." |
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Additional Details, Terms and Conditions | |
| Category | Business |
|---|---|
| Status | Gold |
| Intro Applies To | None |
| Annual Fee | $125** |
| Additional Annual Fees | $45** |
| Annual Fee Detail | **The annual fee will be waived for the first year. Thereafter, the fee is $125. |
| Late Payment Fee | $0 to the greater of $35 or 2.99% |
| Cash Advance Fee | 3%, $5 minimum for Express Cash transactions |
| Minimum Balance Transfer | See Important Notations |
| Maximum Balance Transfer | See Important Notations |
| Type of Reward | Point |
| Optional Reward | No |
| Points Earned Per Dollar Spent | 1 Point |
| Additional Points | Additional points can be earned through participating partners. |
| Point Details | Points can be redeemed for travel, office equipment, merchandise, entertainment events, and other rewards. |
| Expiration | None |
| Yearly Limit | None |
| Bonus Approval | None |
| Bonus First Purchase | 5,000** |
| Bonus Balance Transfers | None |
| Bonus Annual | 10,000*** |
| Bonus Other | Up To 25,000 Points**** |
| Bonus Details | **Cardholders receive 5,000 welcome bonus points after their first purchase ***Cardholders receive 10,000 bonus points upon their one-year card renewal. ****Cardholders receive 5,000 bonus points for reaching $20,000 in a spending year, and they receive 20,000 bonus points for reaching $50,000 in a spending year |
| Additional Perks | 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. Up to $100,000 in travel accident insurance. 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. |
| Notations | 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. |
| Features / Benefits: | Business Ownership has Become more Rewarding |
| 1 | Earn up to 40,000 Bonus Points in Your First Year - Enough for One Domestic Round-Trip Airline Ticket Plus Other Business Supplies |
| 2 | Points Have No Expiration Date |
| 3 | No Limit to the Number of Membership Rewards® Points You Can Earn |
| 4 | No Annual Fee for the First Year - A Savings of $125 |
| 5 | No Pre-Set Spending Limit* and No Finance Charges |
| 6 | Save 3-25% on Business Purchases at Companies Like FedEx®, Delta®, Hertz®, and More |
| 7 | Automatic Complimentary Enrollment in the Membership Rewards® Program |
| Rating | 4.00 |
| Benefit Rating | 4.50 |
| Best Feature | Various business-related discounts; bonus points. |
| Worst Feature | Slightly high annual fee. |
| Review | The Gold Card from American Express OPEN(SM), is a charge card designed for business owners with good credit who plan to pay their business-related expenses in full each month and would like to participate in the Membership Rewards® program for no additional fee. Although this card does not offer the option to pay balances over time, it does help to prevent businesses from accumulating too much credit card debt, which can often be the case when paying only the minimum due with high interest rates. The Membership Rewards® program is one of the most flexible reward programs in the credit card industry due to the variety of merchandise and services that can be redeemed for accumulated points. In addition, points never expire, and there is no maximum number of points that can be earned. Not only do cardholders earn one point for every dollar in purchases and have the opportunity to earn additional points through participating merchants, but they also receive 25,000 Membership Rewards® bonus points, redeemable for one domestic round-trip airline ticket, 5,000 bonus points after their first purchase, 5,000 bonus points for reaching $20,000 in spending, 20,000 additional bonus points for reaching $50,000 in spending, and another 10,000 bonus points upon the one-year renewal of the card. With a spending average of just $5,000 per month, cardholders can potentially earn up to 100,000 points or more in the first year alone. There is no annual fee for the first year. Thereafter, there is an annual fee of $125 for the primary cardholder and $45 for each additional cardholder. Through OPEN Savings, cardholders will receive discounts on products and services from participating partners including FedEx®, Delta®, Hertz®, and more. It is important to review the disclosures for participating merchant discounts, as restrictions and limitations do apply. As with all business credit cards issued by American Express®, cardholders will be able to take advantage of various services and benefits including purchase protection, auto rental insurance, up to $100,000 in travel accident insurance, and various travel and emergency assistance services. Therefore, those who can afford to pay in full each month and will be able to take advantage of the reward program as well as the additional discounts at participating merchants will benefit most from what The Gold Card from American Express OPEN(SM)has to offer. |
| Date of Data Update | 2008-08-08 00:00:00 |
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