Emma Balmforth is an Associate Editor at Finder. She is passionate about cryptocurrency, credit cards and loans, and enjoys helping people understand the often confusing world of finance. Emma has a degree in business and psychology from the University of Waterloo. She wants to help people make financial decisions that will benefit them now and in the future.
Get this card if you travel frequently and make lots of purchases as a small business owner.
Pick something else if you don’t pay your card balance in full each month or don’t want to pay an annual fee.
Apply with a good to excellent credit score of 650 or higher.
The American Express AIR MILES for Business Card lets you earn AIR MILES® while you make purchases for your small business. Earn 1 mile per $10 spent at eligible AIR MILES® Partners*, 1 mile per $15 spent on all other purchases 3 months.. Your Air Miles can then be redeemed for flights, hotels, all inclusive vacations, car rentals, merchandise, gift cards and even cash rewards.
Keep in mind this card is a charge card, which means you must pay off your credit card balance in full each month. The card also comes with an annual fee of $180.
Aside from earning Air Miles, this card provides a host of travel and shopping insurances as well as access to a suite of business solutions. These business tools can help you maximize your cashflow and manage your business better.
2,000 AIR MILES® welcome bonus offer.
To earn 2,000 AIR MILES®, you will need to be a new cardholder and spend $5,000 in purchases during your first 3 months of card membership.
Exclusive 25% Air Miles discount.
As you earn Air Miles, you get 25% discount on business rewards when you redeem your Air Miles from your Dream balance for rewards from the Air Miles for Business Rewards catalogue. This catalogue is targeted toward small business owners, providing access to helpful merchandise, packages and experiences.
Up to 55 days interest-free.
Up to 55 days interest-free on your credit card when you pay off your balance in full each billing cycle. In addition, this card adjusts automatically with usage, meaning you can have more or less spending power depending on how often you use the card.
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Access to business solutions.
Get access to helpful business solutions that can assist you with your business anytime, anywhere. These tools can help you manage your business and cashflow.
Travel insurance coverage.
Receive up to $100,000 travel accident insurance when you charge your travel tickets with your American Express AIR MILES for Business Card.
Buyer’s assurance doubles the manufactures warranty (up to one additional year) when you use your American Express card to purchase the item. Your eligible items are also covered against theft and accidental damage with Purchase Protection.
If your card details are stolen, online or offline, you won’t be held responsible for the fraudulent charges as long as you take extra precautions to safeguard your account details and PIN. The American Express customer service team will assist you in remedying the situation.
Exclusive American Express perks.
American Express offer a range of opportunities to cardholder-only experiences and preferred seating at select events. You can enjoy concert, theatre, film, dining, shopping and travel perks with American Express Invites.
What to watch out for
The card’s annual fee is $180. However, if you use the rewards and perks, you may find the annual fee is worth the expense.
It’s a charge card, not a credit card.
The American Express AIR MILES for Business Card is a charge card, which means you must pay your balance in full each month. Otherwise, 30% APR is charged for unpaid balances.
Not as widely accepted overseas.
Compared to Visa and Mastercard, American Express is much less widely accepted in locations across Canada, the US and around the world. This might provide you with less opportunity to use the card, and therefore less opportunity to reap the rewards.
It hurts to pay late.
If you pay off your balance late, you will incur a steep 30% APR interest rate. Additional fees and charges may occur.
Consider other cards if …
You don’t use Air Miles.
If you don’t collect and redeem Air Miles Reward Miles, a different card will likely suit your needs better. With a high annual fee, this card tends to be beneficial for small business owners who frequently travel and take advantage of the Air Miles offers, as well as the host of travel insurances on offer.
You don’t want to pay an annual fee.
The American Express AIR MILES for Business Card comes with a steep fee of $180 annually. If paying an annual fee this high is not in your best interest, consider other types of business credit cards that come with lower fees.
You don’t pay off your balance in full each month.
Since the American Express AIR MILES for Business Card is a charge card, you will be required to pay off your balance in full each month. If you find that you often carry a balance on your credit card and you don’t want the added stress of paying it off each month, you may find that a regular credit card is a better fit.
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What should I know before I apply?
To apply for the American Express AIR MILES for Business Card, you will need to meet the following criteria:
Be at least 18 years old, or the age of majority in your province or territory.
Be a Canadian citizen or a permanent resident.
Have a valid Canadian credit file.
What credit score do I need?
Having a good to excellent credit score of 650 or higher will give you a better chance of your application being approved. Also having a relatively high annual income or combined household income may be beneficial for approval.
Other factors that might affect your odds of approval include:
Few hard inquiries on your credit report. Having several hard pulls listed on your credit history can indicate to lenders that you’re desperate for credit or have trouble managing your current debt. The provider may be less likely to approve your application if this is the case.
Factors that tie into your credit score. Your credit utilization ratio can play a major factor in the approval of your application. Customers who have low balances relative to their credit limits are usually preferable to providers.
What do customers say about this credit card?
Customers cite that the American Express AIR MILES for Business Card offers a good points to dollar ratio and provides useful benefits for a small business owner, including Air Miles discounts and access to business management solutions.
On the flip side, some negative reviews state that the company has inflexible policies. In addition, cardholders feel that the annual fee is steep, however it is off-set by many of the rewards and perks.
How to apply for the American Express AIR MILES for Business Card
Click Go to site on this page to be directed to the American Express AIR MILES for Business Card page, and click Apply Now Securely.
Complete the application with information including your full name, home address, income and business details.
Review and submit your application.
How long will it take to get my American Express AIR MILES for Business Card?
Pre-approval for an American Express credit card is automated on the website, which means you may get a decision on your application within just 60 seconds. If there are issues with your application, such as missing information, it may take within 10 days to hear back.
Once your application has been approved, you’ll typically receive your card in the mail within 5 to 10 business days.
I got the card. Now what?
Pay off your balance each billing cycle. Register for an account on the American Express website to pay your balance online and enroll in autopay. Since this card is a charge card, you will need to pay off the balance entirely each billing cycle. If the balance is not paid in full, a 30% APR will apply.
Avoid fees. Late and returned payments will incur fees, so be sure to pay on time. If you’re enrolled in autopay, be sure to have enough funds in your account to pay off your balance each billing cycle.
Contact American Express. If you’re not able to find what you need on the American Express Canada website, call 1-800-268-2639 and speak to a customer service representative.
The American Express AIR MILES for Business Card rewards your spending habits with Air Miles points, which can be used toward flights, hotels, gifts cards, merchandise and exclusive discounts. Up to 55 days interest-free on your charge card, you can look forward to a longer payback period.
However, if you are unsure if you will be able to pay your balance in full each month, a charge card may not be the right form of credit for your small business. If you’d rather use a regular credit card, learn more about credit cards for small businesses in our guide.
Frequently asked questions about the American Express AIR MILES for Business Card
You can redeem your Air Miles points within the regular Air Miles Reward Program for flights, experiences, merchandise and even cash rewards. Some AIR MILES Partners include Air Canada, WestJet, Budget car rentals, National Car Rental and many more.
In addition, you can redeem your Air Miles from your Dream balance for rewards from the Air Miles for Business Rewards catalogue.
You can receive a 25% discount on business rewards when you redeem your Air Miles from your Dream balance for rewards from the Air Miles for Business Rewards catalogue. This is an online catalogue that is geared toward small business owners.
In Canada, American Express is the only major provider that offers charge cards.
Yes, most cards offered by American Express do, however the offers differ as well as the annual fees of each card. Many other credit card providers offer welcome bonuses too with less steep annual fees.
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