3 Best Credit Unions for Small Business Banking in 2025

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Best Credit Union for Small Business 2020

Key Takeaways

  • Credit unions often offer lower fees, better interest rates, and flexible lending terms.
  • They provide personalized service and easier access to business credit.
  • Navy Federal, Financial Resources, and Sound Credit Union are our top choices.
  • Other options include Alliant, Consumers, America First, and Digital Federal.
  • Small community banks can also offer lower fees and flexible terms.
  • Research and compare options to find the best fit for your business.

As a small business owner or founder, where you choose to do your banking can have a major impact on your long-term operations. And, when researching the best bank or credit union for small businesses, you may have realized that you would rather work with a credit union. Now, let’s look at the top credit unions for small business banking. 

What you’ll find here: 

So, let’s get to it. 

First, Are Credit Unions Better Than Banks? 

There’s a longstanding debate about whether banks or credit unions are “better.” And, it’s important to understand the difference to answer this question. A bank is a for-profit institution and a credit union is a nonprofit organization that provides comparable financial services. So, what are the advantages of credit unions? 

At most credit unions, the shareholders are the members while banks funnel their profits to up the chain to its owners. This means that there is more opportunity for members to save on services and earn a larger percentage of total interest accrued with savings accounts and other investments. 

As a credit union member, you typically end up with lower interest rates and fees (a major plus). On the flip side, major banks typically have more branch locations where customers can do business and invest more in apps and convenience services. So, you could say that which is the best is a matter of preference. 

But, I have a tie-breaker: credit unions have less stringent and often flexible qualification terms for credit. You can’t walk into a bank like Wells Fargo and negotiate the terms of business banking fees, loans, or credit cards. At a credit union, more than not, you can because credit union underwriters usually work in-house and can modify terms and conditions of business and individual financial services. 

So, I say that credit unions are in-fact better than banks. Now, let’s move forward. 

But, Are Credit Unions Better for Business Accounts? 

Best Bank for Small Business

Aside from the general advantages above, there is another aspect of business banking with credit unions worth considering. When you bank with a credit union, you can leverage the perks above when obtaining business credit. For this reason, we prefer to work with credit unions. Alternatively, small community banks can be better for businesses than large banks. 

How to Leverage Business Credit to Transform Your Life 

Now, the Best Credit Unions for Small Business 

You should have a solid understanding of why or why not a credit union might be best for your small business banking. And, here are the top credit unions to join. 

With tons of free ATMs sprinkled throughout the United States and several other countries, Navy Federal Credit Union was created for members of the armed forces, DoD, or the National Guard. While you don’t necessarily have to be an active member to join, you must have ties to the military. So, if you are an active member, veteran, or a spouse, parent, grandparent, sibling, child, or grandchild of someone who qualifies, you can qualify for membership. 

If you are not a service member, you will have to apply in-person at a branch location. Once you are approved for a personal account, you can then apply for a business membership. And, Navy Federal has excellent offers for businesses.

  • 3 types of checking accounts (Basic, Plus, & Premium)
  • 3 types of savings accounts (Basic and Jumbo Money Market & Certificate)
  • Real estate, vehicle, and term loans
  • Business lines of credit 

Navy Federal is one of the best credit unions with the lowest rates and fees. Minimum deposits for business savings accounts start as low as $100. And, transaction fees range from $0 to $0.25. And, all accounts earn dividends. 

2. Financial Resources Credit Union

With 13 branch locations in New Jersey and New York, Financial Resources Credit Union has been the top SBA Lender in New Jersey since 2013. So, you know their business financial services are dependable.   

Here’s what you can leverage with Financial Resources Credit Union:

  • 2 types of checking accounts
  • 3 types of savings accounts (Business Purple, Money Market, & Certificates)
  • Real estate, equipment, and term loans
  • Lines of credit 

So, whether you’re investing in real estate or you simply want checking and savings accounts to process your business finances, Financial Resources gives you options. Here, terms are flexible and you can get expedited approval on SBA-backed loans because the institution is a preferred lender. 

3. Sound Credit Union

With 29 locations in the Puget Sound area of Washington State, Sound Credit Union is self-labeled “Washington’s Favorite Credit Union.” And, they stand out from most financial institutions in more than one way. 

For one, they cater to cannabis businesses, which isn’t common. Next, they offer low interest rates, cashback options on certain loans, and they do a lot to support the local community. Furthermore, they have over 5,000 shared branch locations and 30K+ free ATMs nationwide. 

And, businesses can take advantage of the following:

  • Checking accounts
  • Savings and certificate accounts
  • Cannabis (I-502 Analysis) business checking accounts 
  • Business loans
  • Business credit cards 

In addition, with Sound CU, you can access a full suite of business services that includes terminals and point of sale systems, eCommerce payment solutions, mobile card readers, payment acceptance, gift card, reward, and incentive programs, and mobile apps and software. The institution’s tech is as advanced as you can get with most major banks. 

+Honorable Mentions

Obviously, these three credit unions are only a small drop in the ocean of options. So, in case you aren’t able to select one of these three, I want to share four more credit unions that you can research yourself: 

Why choose a credit union instead of a bank?

Compared to a major bank, a credit union or small local community bank is likely to offer lower fees, increased savings, and more lenient qualification terms for lending. 

What are the disadvantages of credit unions?

Typically, credit unions run operations from their own funds, so they might offer less in the way of mobile apps, online banking features, and other conveniences. But, they still have many valuable perks. 

Are credit unions good for small business?

Credit unions can be beneficial for your small business. They offer lower fees and interest rates, personalized service, a local focus, easier access to credit, and the opportunity for relationship building. Research and compare different credit unions to find the one that suits your specific business needs.

Which bank is best for small businesses?

A small local community bank or credit union can be the best choice for small business banking. Fees are typically lower than those at major banks and lending qualification terms have more wiggle room. These institutions tend to have more control over their terms and conditions.  

How do I choose a bank for my company?

First, create a list of local small community banks and credit unions in your area. Then, call each institution on your list and ask about business checking and savings options as well as underwriting terms for business loans and lines of credit. Finally, choose the option that is the best fit for your operations and goals. 

Final Thoughts

The above-listed credit unions offer the best financial services for businesses. If you want your operations to run smoothly, you can’t go wrong with one of these choices. But, do your homework to make sure you choose the best institution to fit your needs.

To find out which banks and credit unions we’re currently working with to obtain lines of credit up to $100K in as few as 30 days, join Business Credit Workshop today. 

Honeycomb Credit Review: How Does Honeycomb Investment Work? 

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Honeycomb Credit Review

Key Takeaways 

  • Honeycomb Credit funds small businesses through debt-based crowdfunding.
  • Businesses can raise $25K to over $1 million from investors who earn interest.
  • Approval requires a personal credit check to assess financial health.
  • Owners must promote their campaigns to attract investors.
  • Investors have no control over business decisions.
  • Repayments are fixed monthly over 3 to 5 years.
  • Honeycomb takes a small cut of the funds raised.

Do you need funding to expand your small business? Or, are you interested in investing small amounts into smaller, local businesses? If so, Honeycomb Credit might be a real treat. 

Honeycomb Credit’s offer is a unique offer that enables businesses to grow and investors to earn interest through crowdfunding. Here, I’ll explain exactly what they’re offering, how it might benefit you, and turn you on to some potential alternatives. 

This is what’s in store: 

So, let’s rock! 

What is Honeycomb Credit? 

Honeycomb Credit Website

Honeycomb Credit is a peer-to-peer platform that helps small businesses raise the capital they need to grow. Whether you’re looking to open a new location, upgrade equipment, or expand operations, you may be able to use Honeycomb to secure funding directly from your customers and community. 

Instead of relying on traditional bank loans, the platform connects you with everyday investors who believe in your business. 

And, according to Honeycomb’s advertising, small businesses that raise funds through Honeycomb Credit often experience significant growth—On average, businesses apparently see a 60% increase in revenue year over year after a successful funding round. 

Last year, they offered the Honeycomb Credit Golden Summer Grant, a $5K small business grant through the Skip platform.  

Honeycomb Credit Grant

To date, the Honeycomb Credit platform has helped over 400 business owners secure more than $30 million in investments, which supports over 1,100 jobs.

You might also like: A Full Skip Review: Business Grants, Funding, and More 

Company Overview

Honeycomb Credit Inc. is a Great Lakes-based, privately-held, for-profit corporation that was co-founded in 2017 by George Cook and Ken Martin. 

Prior to launching Honeycomb, Cook worked as an economist for the Bureau of Labor Statistics, then held marketing roles at Transunion and ZestFinance. 

Who owns Honeycomb Credit?

Meanwhile, Martin has a strong background in finance with experience as an analyst and executive at companies like RBS, Barclays Investment Bank, Uber, and RBC Capital Markets. 

As a team, these two are united by the vision to allow anyone to invest in the entrepreneurs and businesses that are most important to them, small ventures. 

While Honeycomb is not accredited by the Better Business Bureau (BBB), they still have an A+ rating on the platform with zero complaints—This is rare, especially for a financial offer that’s been around for 8 years. 

Honeycomb Credit Review BBB

Their Trustpilot Trustscore is telling too, at 4.5-stars out of 5, based on 92 reviews. Most people seem to be super stoked about the offer, while there are some complaints from investors. The main complaint is about issues with the repayment of their invested funds. To play devil’s advocate, here, small business investment is always risky. 

Honeycomb Credit Reviews

Since I didn’t see 100% satisfaction, I decided to hop over and check out Honeycomb Credit Reddit reviews. Again, the only complaints I found were from investors who didn’t see great returns, not small business owners. And, some investors love Honeycomb for the community involvement.  

Honeycomb Credit Review Reddit

In a nutshell, Honeycomb Inc. is a legitimate, well-rated company, yet it hasn’t been around for a full ten years, which can be telling that a company is going to last. Still, in the time it’s been in operation, it’s already gained a positive reputation. So, I think it’s definitely worth considering if you might benefit from the offer, especially as a small business. 

You might also like: Y Combinator: Fast Track to Success or Waste of Time? 

How Does Honeycomb Credit Work? 

Honeycomb Credit is essentially a crowdfunding platform that can help you raise capital for your small business from investors in your community. With these steps, you may be able to secure the funding you need. 

You might also like: A Full Skip Review: Business Grants, Funding, and More 

Step 1: Sign Up for an Account

Honeycomb Login

First, create an account on Honeycomb Credit by entering your email and password or use your Google or Facebook account. Verify your email, then provide basic details like your name, business name, address, phone number, and other necessary information. This sets up your profile so you can start the funding process.

⚠️ I don’t love that a Social Security number is required before the application process starts. To protect your financial info, don’t sign up until you’re sure you’re ready to invest or seek funding. 

Step 2: Apply and Get a Credit Analysis

Honeycomb Funding Application

Next, submit an application (via Loanwell’s loan origination technology) with details about your business, financials, and funding goals. Honeycomb Credit will review your financial history, check your creditworthiness, and evaluate your ability to repay the investment. This step usually takes 24 to 48 hours.

Recommended: Here’s How to Check Your Business Credit Score, Step-by-Step 

Step 3: Accept Your Funding Terms

Honeycomb Financial Strategies

Then, if approved, you’ll receive a term sheet outlining your loan details, including the amount you can raise ($25K to over $1 million), interest rates, and repayment terms. You’ll have the chance to review and accept the best terms for your business.

Recommended: No-Doc Business Loans: Get Funds Without Proof of Income 

Step 4: Prepare a Winning Investment Campaign

Honeycomb Investment

After that, work with a Honeycomb campaign manager to create a compelling pitch for investors. This includes crafting your campaign page, developing a marketing strategy, and producing promotional materials like a video to attract investors.

You might also like: The CEO Creative Net 30 Review: Is it Worth Your Time? 

Step 5: Launch and Promote Your Campaign

Honeycomb Credit Voodoo

Once your campaign goes live, investors can start contributing, typically with a minimum investment of $100. To maximize funding, engage your community, reach out to customers, and promote your campaign through email and social media.

You might also like: This is How to Build Business Credit Fast [Step-by-Step Guide] 

Step 6: Get Funded and Repay Investors

Finally, after you reach your minimum funding goal, Honeycomb will disburse the funds to your business. You’ll then make fixed monthly repayments over a 3 to 5-year term, with a 30-day grace period before payments begin. Honeycomb handles the repayment process, distributing payments to investors automatically.

You might also like: A Deep-Dive National Funding Review: Should You Accept an Offer? 

Do Honeycomb Investors Get a Say in How Your Business Operates? 

When researching Honeycomb Credit, my main question was whether investors have control over the businesses they fund. This is especially relevant to Business Credit Workshop since we teach small business owners how to secure funding without giving up control or ownership.

The good news is that Honeycomb investors don’t influence business decisions. Unlike venture capital or equity funding, where investors may demand a say, Honeycomb Credit uses a debt-based crowdfunding model. Businesses receive funding as a loan, repay it with interest, and retain full control.

You might also like: This is How to Buy a Franchise With No Money (Sort of) 

Frequently Asked Questions

How does Honeycomb Credit make money?

Honeycomb Credit generates revenue by charging a percentage of the funds raised by businesses on its platform. This fee helps cover operational costs, marketing, and support for both business owners and investors.

How do I contact Honeycomb Credit?

You can reach Honeycomb Credit via the form at the bottom of their Business Owners page or email them at hello@honeycombcredit.com.

What is the minimum investment for Honeycomb Credit?

The minimum investment on Honeycomb Credit is typically $100. This allows individuals to support small businesses with a relatively low entry point while diversifying their investments.

Conclusion: Is Honeycomb Credit Legit? 

Honeycomb Credit doesn’t guarantee returns for investors—most investments can’t. But for small business owners, it provides a unique, highly rated way to access funding and grow without giving up control.

Compared to a business accelerator, a Honeycomb investment campaign likely requires less time than a pitch, which can be a major advantage. You also maintain full ownership of your operations, something most business owners prefer.

However, you still need to pitch your business and growth strategy to attract investors in your community. Depending on your situation, this could be an exciting opportunity or a time commitment that doesn’t fit your needs.

It’s also important to note that Honeycomb takes a percentage of the funds raised—after all, they need to generate revenue, too.  

If you want to secure up to $100K in business credit within 30 days—without pitching to investors or giving up control over your business— join Business Credit Workshop today.

American Express Business Blueprint Review (Formerly Kabbage)

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American Express Business Blueprint Review

Key Takeaways

  • Kabbage became Amex Business Blueprint, from lending to a full financial platform.
  • Blueprint combines banking, lending, and cash flow insights in one dashboard.
  • Amex Lines of Credit have lower fees than Kabbage (0.95% to 27%, depending on the term).
  • Business Checking offers higher (1.3%) APY, no fees, and a rewards debit card.
  • The iOS app is highly rated, but Android users report issues and bugs.
  • Payment Accept replaced Kabbage Payments, but new customer availability is unclear.
  • The Resource Center provides business insights and financial tools.

Kabbage was once a popular online lender and one of the SBA’s approved PPP loan providers. American Express quietly acquired Kabbage’s platform in 2020, and reworked it to create Business Blueprint—a comprehensive business cashflow dashboard. 

So, what’s changed? And, is American Express Business Blueprint worth checking out? Here, we’ll take a quick peek at why Kabbage might have exited from their operations and learn everything you need to know about the new and expanded offer from Amex. 

This is what’s in store: 

Now, let’s dive in! 

What Was Kabbage? 

What is Kabbage?

Kabbage, founded in 2009, was an automated lending platform offering quick loans up to $250K for small businesses. Known for convenience but high fees, it paused lending during COVID-19 to focus on PPP loans, earning mostly low ratings. 

Kabbage Reviews

Later, a few years after the purchase by American Express, it transitioned into Amex Business Blueprint, discontinuing its original offer. 

Near the end, Kabbage offered tools like: 

  • Kabbage Checking (competitive APY)
  • Kabbage Payments (low invoicing fees)
  • Kabbage Insights (cash flow tracking)

While useful, these services faced some technical issues before the transition. The hiccups near the end may have made selling the company the wise choice. 

You might also like: No-Doc Business Loans: Get Funds Without Proof of Income 

What is American Express Business Blueprint? 

American Express Business Blueprint

When I first heard that Amex had acquired Kabbage (whose lending funds used to come from Celtic Bank), I said, “If the brand does bring back working capital in the future, it will most likely come directly from Amex itself. We’ll just have to wait around to see.”  

Well, that future is now. 

American Express Business Blueprint is a free platform positioned to help small businesses manage their cash flow. It lets you view your American Express business products and linked external accounts in one place. Then, it provides personalized insights to help you make informed financial decisions. 

With the tool, you can access features like a 30-day bank account balance projection, which uses data from your linked accounts to help you anticipate future balances. In a nutshell, business Blueprint aims to simplify financial management for small business owners.

Moreover, Amex is offering a Business Line of Credit up to $250K (same as Kabbage), with no mention of Celtic Bank. Today, these loans are serviced directly by American Express National Bank.  

Recommended: Amex Business Checking Review: What You Need to Know…Really 

Company Overview

American Express Business Blueprint Benefits

American Express, aka Amex, is a global financial services company with roots dating back to 1850. Founded by Henry Wells, John Butterfield, and William Fargo—names you might recognize from Wells Fargo—Amex has built a reputation for reliability and innovation in finance. 

Initially known for credit cards, charge cards, and traveler’s checks, the company has since expanded its offerings to include business checking accounts (and, now working capital) further solidifying its leading position in the financial world.

Headquartered in New York and led by CEO Stephen Squeri, Amex stands out as a trusted name in American finance. It’s publicly traded and has endured as a stable force in a fast-evolving industry. 

You might also like: A Complete, Unfiltered Amex Business Gold Card Review 

How Does American Express Business Blueprint Work? 

American Express Business Blueprint login

As I said before, American Express Business Blueprint is free. And, you can log in with existing credentials, if you’re already an American Express member, or create an account. 

Once you’re in, you’ll have access to a lot of the same features and services that were available with Kabbage, but with some notable improvements. 

1. Business Lines of Credit

american express business line of credit

Kabbage’s fixed-rate loan fees were steep, ranging from 24-99% APR, with no savings for early repayment, no long-term options, and approval limited to businesses with online checking or PayPal. 

In contrast, Amex Business Lines of Credit offer a more affordable alternative, with funding from $2K to $250K secured by business assets and personal guarantees. 

Amex’s fees range from:  

  • 0.95% to 6.05% for single repayment loans (1 to 3 months)
  • 3% to 27% for installment loans (6 to 24 months)

So, Amex offers a much less expensive business lending option than Kabbage was able to. They also offer reduced costs with early repayment on installment plans. However, you must be an Amex cardholder to apply.

2. Business Banking Accounts

American Express Business Checking

Before the transition, there was no such thing as a Kabbage business savings account. Likewise, there is no American Express business savings account (though they do have a consumer savings option). 

Kabbage Checking offered FDIC-insured banking with 1.10% APY earned on funds, which they declared was the best deal you’ll find. This wasn’t true with 2% earnings from Bluevine and varying larger amounts from several credit unions. 

Today, American Express Business Checking is worth taking a look at.  Their business checking account earns 1.3% APY on balances up to $500K and charges no  monthly maintenance fee—They also offer a rewards debit card that earns 1 point with every $2 spent, and their high deposit limits can house balances up to $5 million. 

However, they lack integrations for tools like QuickBooks and don’t accommodate cash deposits (despite free MoneyPass™ ATM access). Currently, they don’t offer virtual cards, either. 

Recommended: Best Business Bank Accounts: 5 Top Picks for Small Businesses   

3. American Express Business Blueprint Cashflow Management 

Amex Cashflow Management

Kabbage Insights, in my opinion, was comparable to Quickbooks. While it did deliver visual reports, it was basically an accounting platform. Theoretically, it allowed users to view all their accounts in one place for a clearer picture of cash flow and revenue. 

Users could link the system to various banks, including smaller credit unions. PayPal and Stripe integrations were unavailable when I reviewed Kabbage, despite being advertised. 

Today, Business Blueprint™ is the core of Amex’s small business offer, with a real-time financial dashboard that consolidates Amex business products and linked external accounts. 

It offers: 

  • Personalized cash flow insights
  • Business  income and expense tracking
  • 30-day balance projections
  • A bird’s-eye view of your financial health

You can get all of this in one place. It’s designed to help you focus on growth instead of spreadsheets. The platform is free, but individual Amex financial products have their own fees and eligibility requirements.

You might also like: Plastiq Review: Can Plastiq Really Simplify Your Finances? 

4. American Express Business Blueprint App 

American Express Business Blueprint App

Back in September 2020, I noted that Kabbage’s web app and mobile app both seemed a little wonky. I assumed this was because they had recently furloughed staff and cut back on their service offer for the time being. 

Today, the American Express Business Blueprint app, available on both iOS and Google Play marketplaces, seems upgraded. 

Apple users give The Amex Business Blueprint™ app a 4.8 out of 5 rating, based on 8,500 reviews. Users appreciate its convenience and ease of use. However, some have reported limitations in banking functionalities, like viewing canceled checks and scheduling payments. 

However, most Android users seem find the Amex Business Blueprint app frustrating due to: 

  • Persistent login issues
  • Slow transfers
  • Frequent glitches
  • Poor support

Many of them prefer using the web instead.

You might also like: What is the Best Personal Finance Software? Free and Paid Options 

5. American Express Invoicing & Payments 

American Express Business Blueprint Payments

Kabbage Payments was an online invoicing platform with competitive rates at 2.9% + $0.25 per transaction, slightly lower than most major competitors. It supported email and web link billing, with next-day deposits for transactions processed before 5 PM. 

Users could also create a unique URL to sell gift certificates ranging from $15 to $500. 

Today, American Express Payment Accept is a service designed to help small businesses process card payments online efficiently. It offers a straightforward solution with transparent pricing, aiming to make payment processing simple and quick.

*But, they may not be accepting new customer applications at this time—Check with Amex for Updated info. 

You might also like: Melio Payments Review: Can It Make Business Payments and Getting Paid Easier? 

6. American Express Financial Resources 

American Express Business Blueprint Customer Service

Kabbage’s “Resource Center” was a blog dedicated to financial advice for business owners. I found the articles to be pretty useful, easy-to-understand, and worth a look. 

Kabbage Funding Reviews

American Express, on the other hand, has a full suite of resources for small business owners through its Business Blueprint™ platform. 

This includes a Resource Center featuring: 

  • Articles on various small business topics
  • Customer success stories
  • A massive help center 

It provides not just articles but also tools, customer success stories, and guided resources to help business owners manage and grow their finances more effectively.

You might also like: 41 Companies That Help Build Business Credit [Beyond Net 30 Vendors] 

Frequently Asked Questions

Is it hard to get an American Express business line of credit?

Approval for an Amex business line of credit depends on factors like your business’s financial health, credit score, and cash flow. While the process isn’t overly difficult for well-qualified applicants, Amex does require a personal guarantee and evaluates your business assets carefully.

Does Amex business report to Dun & Bradstreet?

Yes, American Express reports business credit activity to Dun & Bradstreet as well as other major credit bureaus, helping you build your business credit profile.

Why do so many businesses refuse Amex?

Some businesses avoid accepting Amex due to higher transaction fees compared to other credit card providers. These fees can cut into profit margins, especially for small businesses.

Is American Express business hard to get?

Obtaining an Amex business card or account generally requires a good to excellent credit score and stable business finances. While not excessively hard, it may be challenging for newer businesses or those with weaker credit profiles.

What is the minimum income for Amex Business Platinum?

American Express doesn’t specify a minimum income requirement for the Business Platinum Card. But, MyFico forums have a lot of anecdotal stories that suggest that they expect applicants to demonstrate significant income or business revenue to justify approval.

Final Takeaway

American Express Business Blueprint took what Kabbage started and expanded it into a full-scale financial platform. With better lending terms, a solid business checking account, and improved cash flow tools, it’s a clear upgrade. 

However, some drawbacks remain, like limited integrations and an inconsistent mobile app experience. If you’re an Amex cardholder looking for streamlined business banking and financing, it’s worth considering—just be aware of its gaps.

Are you ready to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Giggle Finance: Instant Funding for Freelancers & Self Employed

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Key Takeaways

  • Giggle Finance provides up to $5K in fast funding for gig workers.
  • Giggle requires no credit checks,= and uses bank account activity to assess eligibility.
  • You can set up income-based, automatic repayment for flexible loan management.
  • Customer service is digital-only, with mixed reviews on responsiveness.
  • Accusations of predatory practices and unauthorized transactions raise red flags.
  • Some users value Giggle’s speed and simplicity for emergency financial needs.

Giggle Finance offers something a little different than what we usually review here, but maybe not as different as you might think. Before you apply, you’ll want to know what it is you’re signing up for. 

Here, explore what Giggle Finance is, learn more about the company, and understand key features of the offer. 

This is what’s in store: 

Now, let’s dive in! 

What is Giggle Finance? 

Giggle Finance

Giggle Finance provides fast and convenient funding solutions designed specifically for: 

  • Gig workers
  • Independent contractors
  • Self-employed individuals

They offer up to $5K in instant funding, their platform is fully automated, available 24/7, and requires no credit checks or lengthy application processes. 

The idea is that borrowers can access cash quickly to manage unexpected expenses or invest in opportunities. In theory, this can make it a flexible option for those in the gig economy who need immediate financial support.

You might also like: Torro Business Funding Review: Is This “Zero Hassle” Offer Legit? 

Company Overview

Giggle LLC

Giggle Finance, aka, Giggle LLC is a Florida-based, private, for-profit financial services entity that was founded in 2020 by Jared Kogan and Michael Zevallos. According to Florida’s SunBiz, the company is active, in good standing, and up-to-date with all their required filings with the state. 

Kogen previously spent 5+ years with OnDeck, as the Director of External Sales, and has held several high-level business consulting positions. Zavallos was the Manager of External Sales at OnDeck when Kogen was with the company, and he was the Co-Founder and COO at Idea Financial before the team launched Giggle. 

Who owns Giggle Finance?

In short, the leadership seems to be solid. However, it’s important to know what borrowers have to say. 

Currently, Giggle isn’t accredited with the Better Business Bureau (BBB), which I would almost let slide—not every legitimate business is accredited. But, they currently have an “F” BBB-rating and have failed to respond to 32 complaints filed on the platform. 

Giggle Finance complaint on BBB

Overall, TrustPilot reviews are a little more optimistic, with a 4.0 (out of 5.0) TrustScore.™  Even so, the 1-star reviews are pretty brutal. 

Giggle Finance Reviews

All in all, borrowers largely view Giggle Finance as an “unethical” lender, citing: 

  • Unauthorized transactions
  • Predatory practices
  • Poor customer service

Though, some people appreciate its fast funding for emergency needs.

These are some pretty weighty accusations, so I wanted to verify whether or not there are any open lawsuits against the company. And, I couldn’t find any current legal issues. 

However, Redditors also criticize Giggle Finance as deceptive, warning that its loans involve hidden fees and misrepresented terms, which has caused financial strain for gig workers.

Giggle Finance reddit

Having no experience borrowing from the company myself, I would have to take others’ word. On one hand, Giggle Finance offers fast funding that some borrowers find helpful in emergencies, while on the other, reviews raise significant red flags.

 You might also like: How to Get a Business Credit Card – The Ultimate Guide 

How Does Giggle Finance Work? 

Giggle Finance offers gig workers and self-employed individuals fast funding options, but borrowers should weigh the potential risks. Here’s how it works.

1. Apply Easily Online

Giggle Finance Application

The process begins with a quick online application that takes just minutes to complete. By connecting your bank account, Giggle evaluates your eligibility based on income and account activity instead of credit scores. 

Giggle Finance login

While convenient, some users have expressed concerns about privacy and the security of their financial data. I know that they work with Plain, which I know to be a secure technology. 

Login Giggle Finance

If you’re working for a popular delivery service or selling on Shopify, you may be able to connect your account for immediate revenue info (this may be where the data security issue comes in). 

You might also like: No-Doc Business Loans: Get Funds Without Proof of Income 

2. Get Instant Funding Anytime

How long does Giggle Finance take?

Once your application is submitted, the automated system processes approvals in real time, with funds often deposited within minutes. This 24/7 availability is ideal for emergencies. 

However, some borrowers have reported delays or discrepancies in the amount funded compared to what was expected.

Recommended: Net 30 for New Business: 13 Vendors +Credit Building Insights 

3. Repay Based on Your Income

Giggle finance make a payment

Repayments are automatically deducted in line with your earnings, offering flexibility for those with variable incomes. Giggle also allows early payoffs to save on fees. Despite this, some users have faced challenges with rigid payment schedules and unexpected deductions.

Giggle finance dashboard

With this said, you will need to connect the platform to your primary business bank account. They’ll use it for income verification AND repayment. 

You might also like: 11 Alternate Ways for Entrepreneurs to Raise Capital with Online Lenders

4. Access Funding Without a Credit Check

no credit check loan for gig worker

Giggle Finance caters specifically to gig workers, freelancers, and independent contractors who may struggle to qualify for traditional loans. 

The no-credit-check feature makes the service widely accessible, but the high fees and unclear repayment terms reported by some borrowers warrant a careful review.

You might also like: A Full Skip Review: Business Grants, Funding, and More 

5. Know Your Terms Before You Borrow

Giggle Finance fees

Giggle Finance determines its fees and repayment terms based on the amount borrowed and the borrower’s risk profile. The company claims to maintain transparency to make sure borrowers understand the total cost before agreeing to the terms, with no hidden fees. 

However, some users report higher-than-average fees.

Keep in mind, Giggle calculates repayment amounts using a factor rate, which is a multiplier applied to the borrowed amount. For instance, a $5,000 loan with a factor rate of 1.5 would require $7,500 in total repayment. And, Giggle Finance doesn’t advertise their factor rates (I wish they did).

You might also like: Clover Capital Review: Read This Before You Accept an Offer 

6. Be Ready for SMS-Only Customer Support

Giggle finance phone number

To verify what some borrowers had said, I tried calling the phone number listed on the website and was redirected by a pre-recorded message instructing me to send a text. 

Customer service is entirely digital, with interactions through text or email. Some users have described their experiences as unprofessional or unhelpful, particularly when resolving disputes or addressing errors. But, depending on your preferences, this might be convenient. 

Frequently Asked Questions

What credit score do you need for Giggle Finance?

You don’t need a specific credit score to qualify for Giggle Finance. The platform does not rely on traditional credit checks and instead evaluates your eligibility based on your bank account activity and income.

What is the maximum loan amount for Giggle Finance?

The maximum loan amount offered by Giggle Finance is $5K— Your approved amount will depend on your verified income and banking activity.

Does Giggle Finance report to credit bureaus?

Yes, Giggle Finance does report to credit bureaus. This means your repayment activity (including any missed or late payments) can impact your credit score and appear on your credit report. Be mindful of this when you apply for a loan.

Conclusion: Is Giggle Finance Legit? 

Giggle Finance provides quick, easy access to cash, which can be invaluable in a pinch. However, recurring complaints (with no responses from the company) about aggressive practices, high costs, and poor communication highlight the importance of understanding the risks before borrowing.

If you carefully review the terms, you can make an informed decision about whether Giggle Finance is the right solution for your needs.

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

A Quick Review of the Verve Credit Card for Credit Building 

By

Verve Credit Card

Key Takeaways

  • The Verve Mastercard® helps rebuild credit by reporting to all three major bureaus.
  • It is designed for people with less-than-perfect credit.
  • The card has high fees, including up to $125 annually and monthly fees.
  • It also has a 35.90% APR and potential monthly fees after the first year.
  • You need a pre-qualification letter and reservation number to apply.
  • The card is issued by The Bank of Missouri and serviced by Continental Finance.

Tens of thousands of people search for more info about the Verve credit card each month. And, the readily-available details from the issuing bank aren’t super easy to navigate. So, here, I want to lay it all out to let you know exactly what you could be getting into if you apply for this card. 

Find out more about the terms and fees, learn how to apply, and look behind the curtain at the company that offers the card. Then, explore a breakdown of Verve credit card reviews from cardholders, a list of features, and answers to frequently asked questions.  

This is what’s in store: 

Now, let’s dive in! 

What is Verve Credit Card? 

What is the limit of Verve card?

The Verve Mastercard® is a credit card designed for people with less-than-perfect credit. It offers an initial credit limit of up to $1,000 and includes Mastercard Zero Liability Protection, which helps protect you from unauthorized charges. 

This card also reports payment history to all three major credit bureaus: 

  • Experian
  • Equifax
  • TransUnion

Regularly-reported on-time payments can help you build or improve your credit over time. So, a Verve card can be an option to consider if you want to establish or rebuild credit. But, as with any financial product, you need to know the terms and fees before you apply.

You might also like: Meet the Ava Card: An Uncut Credit Builder Review 

Verve Credit Card Requirements

To qualify for the Verve Mastercard®, you must:

  • Be at least 18 years old (19 in some states).
  • Provide a valid SSN and government-issued ID.
  • Show proof of a stable income.
  • Be a U.S. resident.
  • Have a credit score of at least 500.

The card is available to individuals with fair, poor, or limited credit. Approval and interest rate depend on your credit history and income.

Recommended: Credit Secrets Book Review: Can You Erase Bad Credit History? 

Verve Credit Card Fees 

Verve credit card payment

According to the Verve cardholder agreement, the Verve Mastercard® has specific fees and interest rates based on your credit limit:

  • $75 annual fee for the first year; $99 annually thereafter for a $300 credit limit.
  • $125 annual fee for credit limits of $500, $750, or $1,000.
  • $0 monthly maintenance for the first year; $10 per month thereafter for credit limits of $300 or $500.
  • No monthly maintenance fee for credit limits of $750 or $1,000.
  • 35.90%+ APR for purchases and cash advances.

So, if you get a $1,000 Verve Mastercard limit and carry a $400 balance for two years without additional charges, it will cost you about $537 in fees and interest. This includes $250 in annual fees ($125 per year) and approximately $287 in interest, assuming the 35.90% APR and no payments beyond the minimum to reduce the balance.

35.90% APR and a $125 annual fee are high compared to average cards, which have APRs of 16%-24% and lower or no annual fees. It’s costly but aimed at those with poor credit.

You might also like: Can an Extra Card Help You Build Credit Without a Credit Card? 

How to Apply for a Verve Credit Card

Verve credit card apply

When I first visited the Verve card’s landing page, it took me a minute to figure out how to access the application. The website’s instructions, which start with, “Applying for a Verve card has never been easier,” is extremely misleading. 

So, to apply, you need to:  

  1. Head over to yourvervecard.com. 
  2. If you have your reservation, you can follow the prompts on the page. Otherwise, you need to click “Search Now” at the bottom of the page.
  3. You’ll be taken to a new screen where you can enter your last name, zip code, and the last four digits of your social security number to look-up your “reservation.” 

While the advertising says otherwise, the only way to apply for a Verve card online is with a pre-qualification letter and reservation number (I don’t love confusing information from the companies I do business with or recommend.).  

You might also like: Is Credit Strong Legit? A Complete Credit Builder Review 

Company Overview

The Verve Mastercard is issued by The Bank of Missouri and serviced by Continental Finance Company. Continental Finance specializes in credit cards for individuals who may not qualify for traditional options.

And, the first thing I need to say is that the 5-Star Trustpilot reviews advertised on the Verve website are, again, super deceiving. While the Verve Mastercard reviews—which date back to 2019—are mostly positive, Continental Finance reviews aren’t so shiny. 

The Verve card reviews show an overall TrustScore of 4.8 out of 5, which is good. But, the company asks for reviews, pays for extra Trustpilot features, and allegedly uses AI to help with replies. 

Is verve credit card legit?

In the meantime, Continental Finance has almost exclusively poor reviews, several of them related specifically to Verve card services. And Continental Finance hasn’t replied to ANY of these reviews, despite the fact that they did claim the profile.  

Verve credit card reviews

However, before we burn them at the stake, they are Better Business Bureau (BBB) accredited with an A+ rating. This is despite the fact that they get a couple hundred complaints on the BBB platform each year. 

Verve credit card BBB

For anonymous reviews and input, I always like to see what Redditors have to say (with the understanding that they can be especially critical over there). As expected, Reddit reviews tend to note the coinciding annual and monthly fees, and say this is “hot garbage.” 

Verve credit card reddit

Keep in mind that most financial offers get a lot of poor reviews. In most cases, this boils down to people not understanding an offer before they apply. 

But, in this case, Continental Finance isn’t known for following the rules. In 2015, the company faced a CFPB order to refund $2.7 million and pay a $250,000 penalty for illegal credit card fees. In 2023, a federal case questioned their arbitration terms, highlighting ongoing legal scrutiny but no recent major penalties reported.

You might also like: A Credit Stacking Breakdown: What it is & How it Works 

Frequently Asked Questions 

What is the disadvantage of a Verve card?

A key disadvantage is that the Verve card may come with high fees, which can reduce the effective credit limit available to you. And, the card’s interest rates may be higher than those on traditional credit cards, which could make carrying a balance more expensive.

How do I check my Verve credit card balance?

You can check your Verve credit card balance by logging into your online account through the Continental Finance website or mobile app. You can also contact the customer service team using the phone number provided on the back of your card for help.

What bank issues the Verve credit card?

The Verve credit card is issued by The Bank of Missouri, a member of the FDIC, under a license from Mastercard International.

Is Verve credit card for bad credit?

Yes, the Verve credit card is designed for people with less-than-perfect credit. It can be a helpful tool to rebuild or improve your credit, since it reports payment activity to all three major credit bureaus monthly. However, you would need to use it responsibly for a positive impact.

Conclusion: Is Verve a Good Credit Card?

In a word, yeah, the Verve card is a genuine financial tool from an established institution. However, the fees and APR are high, the company offers unclear and deceptive advertising, plus they have a tendency to operate in legally gray areas. So, I’m not comfortable recommending this card as an optimal credit builder…unless you have no other choice and don’t mind paying steep fees. 

So, consider all your options and do your research before you commit to any financial offer. With that said, once your credit score is on track, if you’re entrepreneurial, you might be able to get business credit that doesn’t impact your personal credit score. 

To learn how to obtain up to $100K in business credit in as few as 30 days, join Business Credit Workshop today. 

Can an Extra Card Help You Build Credit Without a Credit Card?

By

Extra Credit Card

Key Takeaways

  • The Extra Card links to your bank account to help build credit without a credit check.
  • The company reports your payments to Experian and Equifax, which may help improve your credit score over time.
  • The card charges a monthly fee starting at $20 for basic features or $25 for rewards.
  • It offers a spending limit based on your bank balance, referred to as “Spend Power.”
  • The card includes real-time credit tracking and 1% rewards with the upgraded plan.
  • The Extra Card does not support cash withdrawals and focuses solely on purchases.

Are you wondering about the Extra card and if it might be able to help you build credit without applying for loans and lines of credit? Here, I’m going to break down exactly what the extra card is (including the company itself), how it may help you establish credit and boost your FICO score, and the features and benefits of an account. 

This is what’s in store: 

Now, let’s roll! 

What is the Extra Card? 

What is extra credit card?

The Extra Card is a debit card designed to help you build credit without needing a traditional credit card. Unlike credit cards that charge high interest or require credit checks, the Extra Card connects directly to your bank account. 

It offers a unique feature called “Spend Power,” which sets a spending limit based on your bank balance. When you make purchases, Extra fronts the cost and automatically pays itself back. 

These transactions are then reported to credit bureaus as credit-worthy payments to potentially help you improve your credit score over time.

Many users have seen significant credit score improvements by using Extra responsibly and practicing good financial habits. With no interest, hidden fees, or deposits required, the Extra Card offers a simple and effective way to build credit while sticking to your budget.

You might also like: Meet the Ava Card: An Uncut Credit Builder Review 

Extra Card Requirements

The requirements for Extra are based on income, not credit score. So, it’s a fairly simple application process, as long as your bank account is in good standing and compatible with the system. 

To apply for an Extra Card, you need:

  • A U.S.-based checking account that is compatible with Plaid.
  • A stable bank balance to calculate your “Spend Power.”

To get started, complete the sign-up process, and link your bank account—No credit check is required. 

You might also like: Ally Financial Review: No PG, No Credit Check Auto Loans +More 

Extra Card Membership Cost

Extra card prepaid

So, how much is an extra card membership? It can’t be free…right? While the pricing isn’t super easy to find on the main website (you have to scroll down the home page a bit), the Extra Card is not free. 

It requires a membership plan, with options starting at $20 per month for the Credit Building plan. The Rewards + Credit Building plan, which includes earning points on purchases, costs $25 per month. 

These plans cover all features without hidden fees or interest charges.

You might also like: A Credit Stacking Breakdown: What it is & How it Works 

Company Overview

The Aligned Company Inc.

The Aligned Company, Inc., doing business as “Extra”, is a US-based for-profit corporation that was founded in 2018. Depending on which source you look to, they’re either based in “the greater New York area” (Crunchbase) or 3,000 miles away in Los Angeles, California (LinkedIn). It’s actually registered in Delaware, which is common for entities to do since the state’s laws are some of the most corporate-friendly. 

Extra’s co-founders are Biren Shah, Cyrus Summerlin, Maximillian Hellerstein. Shah held executive roles at Extra for a few years and is now with Scanit Technologies. Summerlin is the current Head of Product and Brand. Hellerstein is a serial entrepreneur and Extra’s CEO at present. 

Prior to Extra’s launch, Hellerstein founded and co-founded a handful of other businesses in the new tech and marketing arena. 

Extra debit card

With the Better Business Bureau, Extra maintains an A- rating and 4.8 stars from user reviews. The most common complaint seems to be that Extra will report unpaid membership fees to credit bureaus. So, that’s something to note—If you sign up for a monthly recurring plan and don’t pay, it could impact your credit. 

Extra Card customer service

On Trustpilot, the reviews are pretty much raving. Extra’s TrustScore™ is 4.5, which is great for any financial offer. Most of the poor reviews are from a couple years ago, and it seems like the company may have worked out whatever tech issues were causing users stress. 

Extra credit card reviews

Finally, Redditors have mixed sentiments, which is expected. While some people claim that the card is helping them build credit, others point out that this is not, technically, a debit card. I would agree with them. 

Extra debit card reddit

Overall, the company seems legit to me. I see no glaring red flags that would lead me to advise you to run away from this offer. However, I would still tell you to keep reading so you can understand the offer and make the best choice for you. 

Extra Card Features & Benefits

Extra credit card credit limit

Discover the standout features of the Extra Card that could make it a game-changer to build credit and manage your finances. From earning rewards to partnering opportunities, here’s what sets Extra apart.

1. Build Credit Without a Traditional Credit Card

The Extra Card helps you improve your credit score without relying on a credit card. Transactions are reported to credit bureaus as credit-worthy payments, allowing you to build credit while avoiding interest rates and credit checks.

2. “Spend Power” Based on Your Bank Balance

Your spending limit, known as “Spend Power,” is determined by your bank balance and other factors. Extra fronts the cost of your purchases and automatically pays itself back, making it a budget-friendly way to manage credit.

3. Earn Reward Points for Everyday Purchases

With an upgraded plan, you can earn up to 1% in points on everyday purchases like gas, groceries, or coffee. Redeem these points for products or gift cards in the Extra Rewards Store, adding value to your spending.

4. No Interest or Hidden Fees

Extra operates on a simple membership model with no interest charges or hidden fees. You get clear and predictable costs, making it an accessible and straightforward tool for credit building.

5. Real-Time Credit Tracking

The Extra App allows you to monitor your spending and track your credit-building progress. It also provides access to your credit score, helping you stay on top of your financial goals.

Extra Card VS Chime: Side-by-Side Comparison

When researching Extra, the most-compared card I saw was Chime. Chime has been around a bit longer, and is set up more like a traditional secured card. Plus, Chime offers fee-free checking accounts. 

Here are the main features of both Extra and Chime cards. 

Credit CheckRewardsReports toCard TypeMonthly Cost
NoUp to 1%Equifax
Experian		“Debit”$20 – $25
NoChime “Deals”Transunion
Equifax
Experian		Secured$0

Neither an Extra nor a Chime card require a credit check—both are issued based on income. And, Chime doesn’t offer 1% rewards points, but they do have Chime Deals, which are essentially discounts on partner offers. And, extra calls their card a “Debit card with superpowers,” rather than a secured card, but some people think this is debatable. 

Where Chime stands out is with their three-bureau reporting and $0 monthly membership vs $20+. However, to be fair, if data is reported to Equifax and Experian, it is likely to be picked up by Transunion as well. 

On this front, you will have to decide what’s best for you. 

You might also like: Is Credit Strong Legit? A Complete Credit Builder Review 

Frequently Asked Questions 

Is Extra a real credit card? 

No, an Extra card is not a credit card, as it does not have a revolving credit limit. Instead, the funds you spend on an Extra card are immediately paid back out of your checking account. In this way, it’s more like a debit card. 

Can you withdraw money from an extra card?

No, the Extra Card does not support cash withdrawals. It is designed for purchases only and helps build credit by reporting those transactions to credit bureaus.

How does an Extra card work?  

The Extra Card links to your bank, fronts purchases based on your balance, and reports them to credit bureaus (Experian and Equifax) to help build your credit.

Does Extra help your credit? 

Extra can help your credit by reporting your purchases as payments to Experian and Equifax. Many users see credit score improvements when they use the card responsibly and maintain good financial habits.

Conclusion: Does Extra Work to Build Credit? 

The Extra Card offers a different way to build credit without relying on traditional credit cards. By linking directly to your bank account and reporting your transactions to credit bureaus, it may help you improve your credit score with responsible use. 

While the card comes with a monthly membership fee, its no-interest model and rewards options might provide some value if you want to build credit while sticking to a budget. Whether the Extra Card is the right choice depends on your financial goals and priorities, but it stands out as a flexible option for credit-building.

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

A Complete, Unfiltered Amex Business Gold Card Review 

By

Amex Business Gold Review

Key Takeaways

  • Earn 4X points on your top 2 spending categories (up to $150,000/year), 1X on others.
  • Get 3X points on flights and hotels, no foreign fees, and trip delay insurance.
  • Manage expenses with QuickBooks, employee cards, and year-end summaries.
  • Annual fee is $375, with up to $240 in select service credits.
  • Requires good credit (700+ FICO score), $3,000+ monthly revenue, and solid business credit.
  • Includes cell phone protection, extended warranties, and purchase protection.

Have you considered applying for the Amex Business Gold card, but not sure what you’d be getting yourself into? In business, the sheer number of financial management options can be overwhelming, but let’s simplify to determine if this choice is right for you. 

In this Amex Business Gold card review, you’ll find what the card is, see a company overview, explore the benefits, and find out if (and when) it might be worth it to apply. 

This is what’s in store: 

Now, let’s dive in. 

What is the Amex Business Gold Card? 

Why Should You Get the Amex Business Gold?

The Amex Business Gold card is a premium business credit card from American Express with a handful of standout features, including: 

  • Rewards on spending
  • Expense management tools
  • Travel perks 
  • Business services

It also offers cash flow flexibility with revolving credit, which you can pay over time when needed, along with no preset spending limit. When you apply for the card, it won’t impact your personal credit, because approval is based on your business credit score. 

You might also like: Amex Business Checking Review: What You Need to Know…Really 

Amex Business Gold Requirements

American Express Business gold card limit Reddit

Wondering how to get an Amex Business Gold card? Well, as you may know, the requirements are fairly stringent. However, they’re not clearly specified anywhere. 

So, here’s what I know is required: 

  • Solid business credit score 
  • FICO (personal credit) score above 700
  • Average monthly revenue of at least $3K  

The more revenue you have and the higher your business and personal credit scores, the more likely you are to qualify for an Amex Business Gold card. 

Recommended: This is How to Build Business Credit Fast [Step-by-Step Guide] 

Business Credit Score Impact

When you apply for the Business Gold card from Amex, your business credit score might take a small hit because Amex may check it during the application process. Your personal credit score won’t be affected at this stage. 

However, If you’re approved and decide to accept the card, it may impact your personal credit, because you’ll likely need to guarantee the account. This means that, if the account defaults, you’re on the hook. 

This card could offer a good way to build business credit if you manage it well, but be sure you’re comfortable with any potential impact on your personal credit before accepting.

You might also like: Here’s How to [Actually] Get Business Credit With Just an EIN +More Options 

Amex Business Gold APR and Fees

Amex Gold Business review

The Amex Business Gold Card offers 0% APR for the first 6 months, so no interest accrues during this time. Be mindful that the introductory 0% APR doesn’t apply to cash-like transactions or fees, and this is an intro offer, which can change any time.

After that, the APR will range from 18.74% to 27.74%, based on your credit and the Prime Rate, which can change with the market. Then, if you miss payments or have returned payments, a 29.99% Penalty APR might apply for at least a year. Paying on time helps you avoid this. 

Interest is calculated using the average daily balance method.

Amex Business Gold 200k

So, let’s say you spend $20,000 in a year using the Amex Business Gold Card and only make minimum payments—Here’s what you might expect: 

  • First 6 months: You pay 0% interest during the intro APR period. Assuming you spend evenly, your balance after making minimum payments (~$300/month) is about $8,200.
  • Next 6 months: The remaining balance and new charges start accruing interest at around 21.74% APR. You’d pay about $1,130 in interest over this time.
  • After a year: You’ll have paid about $5,300 in minimum payments but still owe $15,830, including interest.

Paying only the minimum can add up quickly. To save, pay more than the minimum, especially after the 0% intro APR period ends. And, to avoid interest, you can pay your balance in full by the due date, which is at least 25 days after the billing cycle closes. 

The card also has an annual fee of $375, but no foreign transaction fees. Late payments or returned payments can cost $39 or 2.99% of the past due amount, whichever is higher.

Amex Business Gold Benefits Worth Exploring

Is Amex Gold worth getting?

Now, let’s take a closer look at some of the benefits of being an Amex Business Gold cardholder, including rewards, tools, travel perks, and business services. 

1. Amex Business Gold Rewards

Amex Gold card benefits

This card rewards you with 4X Membership Rewards points on the top 2 categories your business spends the most in each billing cycle, from options like restaurants, gas stations, transit, software providers, and more (up to $150,000 per year; 1X points after). All other purchases earn 1X points.

Here’s an example scenario of how this might stack up: 

  1. Let’s say your business spends $2,000 on software subscriptions and $1,500 at restaurants in a billing cycle. These would be your top 2 categories, so you’d earn 4X points on those purchases, giving you 14,000 points (4 points per dollar).
  2. If you also spend $500 on office supplies, you’d earn 1X points for that, adding 500 points.
  3. In total, you’d earn 14,500 Membership Rewards points for that billing cycle. The top 2 categories adjust each cycle based on where you spend the most.

You can also get up to $240 annually in statement credits for eligible purchases at FedEx, Grubhub, and office supply stores, plus a monthly credit for a Walmart+ membership (up to $12.95/month). 

This could be a great way to earn points and save on business essentials.

2. Expense Management Tools

Amex Gold business card review

The Amex Business Gold Card offers tools to simplify expense management. 

With this card, here are the tools you could get:

  • A year-end summary to simplify expense tracking
  • Employee cards to control spending and earn rewards
  • QuickBooks integration to auto-categorize expenses

You can also take advantage of Vendor Pay by Bill.com to streamline payments and assign an Account Manager to handle tasks like payments and transaction reviews. Plus, you can stay on top of spending with account alerts, online statements, and the Amex app, which lets you track expenses and manage your account in real-time.

You might also like: BILL Spend & Expense Card Review (Formerly Divvy Credit Card) 

3. Travel Perks for Cardholders

Amex Business Gold card rewards review

The Amex Business Gold Card enhances travel with 3X Membership Rewards® points on: 

  • Flights
  • Prepaid hotels
  • Packages booked through AmexTravel.com

There are no foreign transaction fees, which can make international business travel seamless. 

Plus, you can enjoy perks from The Hotel Collection (like a $100 experience credit and potential room upgrades for stays of two nights or more), Global Assist® Hotline for emergencies, baggage insurance for lost or damaged items, and car rental insurance for theft or damage (secondary coverage). 

Finally, If your trip is delayed by 12+ hours for a covered reason, Trip Delay Insurance may provide assistance. These features can make business travel smoother and more rewarding.

You might also like: What are the Best Business Credit Cards for Travel? 

4. Business Services from Amex

Amex cardholder cell phone protection

The card also offers valuable business services to protect and support your operations. 

Some of the services include: 

  • Cell phone protection up to $800 per claim
  • Dispute resolution for fraud and unauthorized charges
  • Extended warranties (up to 5 years) on eligible purchases
  • Annual purchase protection up to $50K per year
  • 24/7 support through Relationship Care® 
Amex business Gold Reddit

These features can help safeguard your purchases and simplify some aspects of managing your business.

You might also like: Comprehensive ZenBusiness Review: Is it Legit for LLCs? 

Frequently Asked Questions 

Does the Amex Business Gold card have a limit?

The Amex Business Gold card has a flexible spending limit that adjusts based on your usage, payment history, and other factors–This means your spending capacity can vary over time.

Is the Amex Gold a luxury card?

The American Express® Gold Card is considered a premium card, offering substantial rewards on dining and groceries. However, it doesn’t provide the extensive luxury perks found in higher-tier cards.

Does the Amex Gold Business have lounge access?

No, Amex Business Gold doesn’t include airport lounge access. But, it does offer other travel perks like trip delay, baggage claim, and car rental loss insurance. Lounge access is typically reserved for luxury cards like the Amex Platinum.

Is it hard to get approved for the Amex Business Gold card?

Amex Business Gold approval generally requires good to excellent credit. American Express evaluates credit history, income, and other factors during the application process.

What income is recommended for the Amex Business Gold card?

While American Express doesn’t specify a minimum income, higher revenue can improve your approval odds. They consider your overall financial profile, including income, existing debts, and both business and personal credit scores.

Conclusion: Is Amex Business Gold Worth it? 

The Amex Business Gold card offers a suite of features that can be worthwhile if you think you’ll take advantage of them. But, a $375 annual fee isn’t going to work for everyone. 

If you think the benefits can outweigh the cost for you, this is a high-value card from a reputable servicer. If you’re looking for more perks like lounge access, consider a platinum card instead. If you want something with no annual fee, keep shopping around—the right card is out there.   

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

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