American Express Gold Corporate Card – Benefits, Fees & Eligibility

Introduction

The American Express Gold Corporate Card, issued by American Express, is positioned as a premium payment solution specifically designed for frequent business travelers. It equips them with essential tools to manage travel and entertainment expenses efficiently. Key differentiating benefits include comprehensive airport lounge access globally and domestically, complimentary business travel insurance up to ₹75,00,000, and a rewarding Membership Rewards program that allows earning points on everyday business expenses.

Welcome Benefits

• There are no specific welcome or milestone benefits for new cardholders.

Fees

• Joining Fee: ₹1,000 + GST
• Annual Fee: ₹4,500 + GST (from the second year onwards)
• Spend-Based Waiver: Not applicable.
• Rewards Redemption Fee: Not applicable.
• Foreign Currency Markup: 3.5%
• Interest Rates: 3.5% per month
• Fuel Surcharge:
  • Waived at HPCL fuel stations for transactions less than ₹5,000.
  • 1% fuel surcharge waiver for HPCL transactions above ₹5,000.
  • 1% waiver on fuel transactions at a minimum surcharge of ₹10 at all BPCL and IOCL stations.
  • 2.5% fuel surcharge waiver at other fuel stations (other than HPCL, BPCL, and IOCL).
• Cash Advance Charges: 3.5% of the withdrawal amount, subject to a minimum amount of ₹250.
• Emergency Card Replacement: No extra cost for replacement. Liability is nil if reported within 3 working days; otherwise, liability is limited to a maximum of ₹1,000.

Rewards

• Membership Rewards® Program:
  • Enroll your Gold Corporate Card into the individual Membership Rewards® program, subject to your Company’s participation. To enroll, call the number on the back of the Card.
  • Earn Rate:
    • Earn 1 point on every ₹50 spent on all business expenses, except for fuel, utility, telecommunication, Wholesale Spends, and insurance.
    • Earn 1 point per ₹100 spent on fuel, utility, telecommunication, Wholesale Spends, and insurance (effective from 15th September 2023 for Wholesale Spends).
• Travel
  • International Lounge Access with Priority Pass™:
    • Get access to over 1,200 airport VIP lounges across the world, regardless of airline, class of ticket, or membership in any airline lounge program.
    • Includes lounge access for Gold Cardmembers and accompanied guests.
    • Receive two complimentary lounge visits annually.
    • More than two lounge visits for Gold Cardmembers will be charged at the prevailing retail rate.
  • American Express Domestic Airport Lounge Program:
    • Enjoy access at discounted rates to over 25 domestic airport lounges across India.
    • Available at lounges in Ahmedabad, Delhi, Bengaluru, Mumbai, Chennai, Kolkata, Cochin, and Hyderabad.
• Insurance Benefits:
  • Complimentary Business Travel Insurance: Keep employees protected when they travel both domestically and internationally.
  • Includes complimentary Personal Accident Cover and Licensed Transport Accident Cover for return trips paid with your Corporate Card.
  • Insurance includes cover up to ₹75,00,000.
  • Provides 24x7 access to the American Express Global Assist® Hotline for emergencies.
  • Insurance is provided and underwritten by ICICI Lombard General Insurance Company Limited, subject to Terms and Conditions of cover.

Rewards Redemption Guide

• Points can be redeemed for a huge range of rewards, including gift cards, points transfer to Air/Hotel loyalty programs, booking travel with points, and statement credit.

Card Eligibility Criteria

• Age: Should be 18+ years of age.
• Residency: Should be a resident of India.
• Employment & Income: Must have a stable job and an annual income of ₹6 lakhs or more.
• Credit Score: Needs to have a good credit score.

Card Review

The American Express Gold Corporate Card is an excellent choice for frequent corporate travelers, offering robust rewards for flights and hotel stays. Its valuable perk of airport lounge access, both internationally and domestically, significantly enhances the travel experience. American Express's customer service is highly regarded, ensuring prompt resolution of any issues. This card is a strong option for businesses seeking a reliable and rewarding corporate card for their employees.

Pros

• Modest joining fee of only ₹1,000.
• Offers access to VIP airport lounges both internationally and domestically.
• Provides complimentary business travel insurance up to ₹75,00,000.
• Offers a zero-cost liability protection for lost, stolen, or damaged cards if reported promptly.

Cons

• There are no welcome or milestone benefits with this card.
• The annual renewal fee of ₹4,500 from the second year onwards is relatively high.
• The fuel surcharge is not waived at all fuel stations but only at specific ones.

Important Product Details

• Travel Benefits:
  • Access to 1,200 VIP lounges worldwide with two complimentary visits annually.
  • Access to over 25 domestic airport lounges at discounted rates.
  • Complimentary Business Travel Insurance up to ₹75,00,000, including Personal Accident Cover and Licensed Transport Accident Cover.
  • 24x7 access to the American Express Global Assist® Hotline for emergencies.
• Financial Control & Efficiency:
  • Up to 51 days of interest-free credit period, helping to manage working capital effectively.
  • No pre-set spending limit, providing flexibility for business expenses.
  • Online Program Management through @Work for greater visibility of payables, sophisticated reporting, maximized control over expenses, improved compliance, and easy program management.
  • Ability to set customized spend limits for each individual Cardmember.
  • Consolidate Cardmember spend into a single payment method to streamline expense management.
  • Manage and mitigate company’s risk exposure with choice of combined or full corporate liability.
  • Advanced security systems with robust fraud detection and protection.
• Service & Support:
  • Award-winning 24-Hour Customer Service for billing inquiries, replacement Card requests, or access to benefits.
  • Global Emergency Care Helpline (Global Assist® Hotline) for lost passport replacement, translation services, missing luggage assistance, and emergency legal and medical referrals.
  • Express Cash Facility to access cash from ATMs globally, subject to written authorization by your Company.
  • Emergency Card Replacement within 48 hours at no extra cost.
  • End-to-End Program Manager Servicing with Dedicated Relationship Managers & Program Administrator Helpline service.
  • Account Management on-the-go with the American Express® Mobile App for support & service chat, and secure viewing of spends and statements.
• Rewards Program:
  • Earn 1 Membership Reward Point for every ₹50 spent on most business expenses.
  • Earn 1 Membership Reward Point for every ₹100 spent on fuel, utility, telecommunication, wholesale spending, and insurance.

Other Details

• Cardmembers are responsible for the costs charged by third-party service providers when using Global Assist® Hotline services.
• The interest-free credit period of up to 51 days depends on when a purchase is made and when the statement is issued.
• Insurance coverage is subject to the Terms and Conditions of cover, and exclusions and limitations apply.