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.
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 that offers cardholders the chance to earn 1 Air Mile for every $15 spent at Air Miles Sponsors and 1 Air Mile for every $20 spent elsewhere. The card comes with a welcome bonus of 150 Air Miles if you spend $1,000 in the first 3 months as a cardholder.
This no annual fee card is a regular credit card with the flexibility to pay balances in full. If you prefer to carry a balance on your card, you can alternatively pay the minimum amount due each 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
150 Air Miles welcome bonus offer.
To earn 150 Air Miles Reward Miles, you will need to be a new cardholder and spend $1,000 in purchases during your first 3 months of card membership.
$0 annual fee credit card.
This credit card comes with $0 annual fee. Unlike the commonly offered charge card, this card is a regular credit card which gives you the flexibility to pay only the minimum each month.
Earn 1 Air Mile for every $15 spent at eligible stores.
Earn 1 Air Mile for every $15 you spend at Air Miles Sponsors, likewise earn 1 Air Mile for every $20 spent everywhere else.
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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.
Earn twice the Air Miles.
Show your Air Miles Collector Card when paying with your American Express AIR MILES Gold Business Card at Air Miles Sponsors and get twice the Air Miles points.
Free additional cards for employees.
Hand out cards to your employees without paying any annual card fees.
Referral program.
Refer a family member or friend who is a business owner and receive a bonus of 50 AIR MILES® for each approved referral (up to a maximum of 750 Miles per year).
Travel insurance coverage.
Get covered with Travel Accident Insurance up to $100,000 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 22.99%. 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.
It hurts to pay late.
If you pay off your balance late, you will incur an interest rate of 23.99% - 26.99% Variable. Additional fees and charges may occur such as Late Payment Fee of $0.
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.
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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 $0 annual fee.
How to apply for the American Express AIR MILES Gold Business Card
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.
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 Gold 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 a few 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?
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.
Frequently asked questions about 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.
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
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