American Express AIR MILES Gold Business Card review

30-second take

• Get this card if you want to reap the rewards of your business spending and pay no annual fee.

• Pick something else if you want cash back or extensive insurance coverage.

• Apply with a good to excellent credit score of 650 or higher.

The basics

The American Express AIR MILES Gold Business Card is a no annual fee card offering the chance to earn AIR MILES on every eligible purchase. This is a regular credit card, which gives you the flexibility to pay balances in full or carry a balance from month to month.

Aside from earning Air Miles, the American Express AIR MILES Gold Business Card comes with access to business tools which can help you maximize your cash flow and organize your business expenses.

The perks

• Welcome offer.

Earn a Welcome Bonus of 150 AIR MILES when you spend at least $1,000 in eligible purchases within the first three months

• Earn AIR MILES.

Earn 1 AIR MILE for every $15 spent on eligible purchases at AIR MILES Sponsors, and earn 1 AIR MILE for every $20 spent on eligible purchases elsewhere

• Earn more AIR MILES.

Earn more AIR MILES when you shop at participating AIR MILES Sponsors across Canada and pay with your American Express AIR MILES Gold Business Card and show your AIR MILES Collector Card.

• No annual fee.

This card has no annual fee.

You’ll also like …

• Access to business solutions.

Receive access to helpful business solutions that can assist you with your business anytime, anywhere. These tools can help you manage your business and cashflow.

• Free additional cards for employees.

Hand out cards to your employees without paying any annual card fees.

• Travel insurance coverage.

Get covered with Travel Accident Insurance up to up to $100,000 Travel Accident Insurance when you charge your travel tickets with your American Express AIR MILES Gold Business Card.

• Fraud protection guarantee.

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 precautionary measures to protect 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 get special access to concert, theatre, film, dining, shopping and travel perks through American Express Invites and Front of the Line perks.

What to watch out for

• Cash advance rate.

The card’s cash advance rate is 21.99%. Remember that you will be charged this APR from the moment you withdraw the cash.

• 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.

Consider other cards if …

• You don’t use Air Miles.

If you don’t collect and redeem Air 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 want more extensive insurance.

American Express are praised for their extensive insurance coverage, however the American Express AIR MILES Gold Business Card does not come with much insurance coverage, aside from Travel Accident Insurance. You’ll need to consider a different card if you’re looking for more extensive coverage.

• You want cash back.

If you’re looking to reap the benefits of cash back, you may want to consider a cash back rewards card. These types of cards typically offer anywhere from 1-5% cash back on purchases. If you spend frequently on gas, groceries and dining out, a cash back rewards card may be more beneficial for you than a travel rewards card.

Compare other American Express credit cards

What should I know before I apply?

To apply for the American Express AIR MILES Gold 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 and 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 Gold Business Card is a good card if you’re looking to avoid paying an annual fee. Business owners are pleased with access to the business tools, however many cardholders note that there are other cards that offer much better Air Miles earn ratios.

In addition, some negative reviews state that the company has inflexible policies. Cardholders also feel that the insurance coverage is lacking, however keep in mind that the card has a $0 annual fee.

How to apply for the American Express AIR MILES Gold Business Card

1. Click Go to site on this page to be directed to the American Express AIR MILES Gold Business Card page, and click Apply Now Securely.
2. Complete the application with information including your full name, home address, income and business details.
3. Review and submit your application.

I got the card. Now what?

• Make your repayments.
  Register for an account on the American Express website to pay your balance online and enroll in autopay. Since this card is a regular credit card, you can pay off anywhere from the minimum to the full balance each billing cycle. If you don’t pay the balance in full, you will face an APR of 19.99%.

• 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.

Bottom line

The American Express AIR MILES Gold Business Card is an option worth considering if you’re looking for a no annual fee business credit card. It’s especially worth considering if you’re just starting out your business journey and you’re looking for your first business credit card. You can earn Air Miles that can take you around the world and maximize your business cash flow using the business tools.

However, if you’re looking for premium perks and more extensive insurance coverage, a different credit card may be a better option for you. Before you apply for any credit card, take the time to compare a variety of cards to determine which one best suits your financial situation and spending habits.

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Frequently asked questions about the American Express AIR MILES Gold Business Card

• Where can I use my Air Miles earned with the American Express AIR MILES Gold Business card?

  You can redeem your Air Miles points within the regular Air Miles Reward Program for flights, hotels, car rentals, experiences, and merchandise. Some AIR MILES Partners include Air Canada, WestJet, KLM, British Airways, Budget Car Rentals, National Car Rental and many more.

• Do other American Express cards come with welcome bonus offers?

  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.

Pictures: americanexpress.com/ca