American Express® Business Gold vs Bilt Obsidian
Side-by-side comparison
| American Express® Business Gold | Bilt Obsidian | |
|---|---|---|
| Annual fee | $375 | $95 |
| Welcome offer | Up to 200,000 Membership Rewards® Points | $200 in Bilt Cash on account opening |
| Advertising | 4% | 1% |
| Shipping | 4% | 1% |
| Office supplies | 1% | 1% |
| Phone & internet | 1% | 1% |
| Travel | 4% | 2% |
| Everything else | 1% | 1% |
| Est. yearly rewards* | $1,116 | $546 |
| Points type | Transfers to airlines & hotels | Transfers to airlines & hotels |
| Network | Amex | Mastercard |
*Estimated yearly rewards on typical household spending, every point valued at a flat 1 cent. Verified September 2026. See your own numbers in the calculator.
Welcome bonus and value over time
| Over time | American Express® Business Gold | Bilt Obsidian |
|---|---|---|
| Welcome bonus | Up to 200,000 Membership Rewards® Points | $200 in Bilt Cash on account opening |
| To earn it | $15,000 in 3 months | No minimum spend |
| Est. first-year value* | $2,981 | $951 |
| Est. ongoing value / yr* | $981 | $751 |
The American Express® Business Gold wins on both fronts: it comes out ahead in year one on the welcome offer and stays ahead every year after. Short term or long, it is the stronger pick on the numbers.
*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent.
Perks, credits, and redemptions
| Perks | American Express® Business Gold | Bilt Obsidian |
|---|---|---|
| Lounge access | None | None |
| Annual credits | ~$240/yr (1 credits) | ~$300/yr (2 credits) |
| Points & redemptions | Transferable to airline & hotel partners | Transferable to airline & hotel partners |
On perks and redemptions, the Bilt Obsidian carries the heavier credit stack (about $300 a year). Weigh those against the fee, since credits and lounge access only count if you will actually use them.
Transfer partners and point value
The American Express® Business Gold earns Amex Membership Rewards, which transfers to Delta, ANA, Air France-KLM Flying Blue, Virgin Atlantic, plus Hilton and Marriott. The Bilt Obsidian earns Bilt Rewards, reaching Alaska / Atmos, Air Canada, World of Hyatt, American Airlines, and Turkish. Most transfers are 1:1 on both, so the partners themselves, not the ratios, are what separate them.
The standout difference is the crown-jewel partner: for the American Express® Business Gold it is ANA and Virgin Atlantic, the routes behind the famous business- and first-class sweet spots to Asia; for the Bilt Obsidian it is Alaska and Hyatt, a rare pairing that covers both a top airline and a top hotel program. Pick the program whose best partners match the trips you would actually book.
One ratio note: on a few shared partners like Cathay Pacific and Emirates, Amex transfers at a slightly worse rate (5:4) than Citi, Capital One, and Bilt, which move 1:1, so those programs stretch a little further there.
These serve different wallets: the Business Gold optimizes a company’s biggest expense categories, the Obsidian rewards a renter’s everyday spending, including rent itself.
The Business Gold auto-awards 4x on your two highest-spend categories from a business-friendly list, with a huge MR welcome bonus. The Obsidian earns transferable points on rent (with no payment fee), plus 3x dining and groceries, for a fraction of the cost. Business-category firepower vs personal rent-and-dining value.
Pros and cons
- 4x on your top two business categories each cycle (advertising, shipping, travel, dining, gas)
- Transferable Membership Rewards to airlines and hotels
- A very large welcome bonus
- Flexes to where your business actually spends
- $375 annual fee
- 4x is capped ($150k/yr in combined 4x spend)
- Requires a business
- Overkill for personal or low-category spend
- Earns transferable points on rent with no payment fee
- 3x on dining and groceries, 2x on travel
- Only $95, and transfers to strong partners
- Great for a renter’s everyday life
- Modest earning outside rent, dining, and groceries
- Best value requires Bilt’s ecosystem and monthly activity
- No business categories
- Not aimed at heavy business spend
Where each one wins
| Category | Winner | Why |
|---|---|---|
| Business categories | Amex Business Gold | 4x on ads/shipping/travel/dining the Obsidian can’t match. |
| Rent | Bilt Obsidian | Transferable points on rent the Business Gold doesn’t touch. |
| Dining & groceries | Bilt Obsidian | 3x vs the Business Gold’s category-dependent rate. |
| Annual fee | Bilt Obsidian | $95 vs $375. |
| Who it’s for | Depends | Businesses vs renters. |
The verdict
If you run a business with real spend on advertising, shipping, travel, dining, or gas, the Business Gold is a strong earner, 4x on your top two categories plus transferable MR and a big bonus can generate serious value, and the $375 fee is easy to justify with volume. For a business, it’s the clear pick.
If you’re a renter optimizing personal spend, the Obsidian is the better everyday card, it rewards rent (which almost nothing else does), pays 3x on dining and groceries, and transfers to premium partners, all for $95. These aren’t competitors so much as cards for different lives: a business owner wants the Business Gold; a renter wants the Obsidian.