American Express Business Edge Card review

30-second take

• Think about this card if you own a business and want to earn a high return on points.

• Choose something else if you want premium benefits or don’t want to pay an annual fee.

• There’s no minimum annual income to qualify but you’ll have to own a business and have a Canadian line of credit.

The basics

If you own a small business and want to maximize your return on rewards for daily purchases, you might benefit from the American Express Business Edge Card.

• Earn Membership Rewards. Earn 3 Membership Rewards points for every $1 spent on eligible business essentials including office supplies, electronics, rides, gas, eats and drinks (up to an annual earn of 75,000 Membership Rewards), and earn 1 Membership Reward point for every $1 spent on all other eligible purchases.
• Welcome bonus. Earn up to 42,000 Membership Rewards points in your first year. Earn a Welcome Bonus of 30,000 Membership Rewards points when you spend at least $5,000 on eligible purchases within the first three months, and earn 1,000 Membership Rewards points each month (a total of 12,000 annually) when you spend a minimum of $3,000 on eligible purchases.
• Refer a friend. Refer a friend or family member and earn a referral bonus of 5,000 Membership Rewards points for each approved referral (up to a maximum referral bonus of 75,000 Membership Rewards points per year).
• Purchase assurance. Get an additional year of warranty coverage and 90 days of accidental damage and theft protection on consumer goods you buy with your card.
• Business features. Make the most of a suite of business and expense management tools, including access to specially trained small business service specialists.
• Exclusive offers. Get special offers for entertainment, dining and once-in-a-lifetime experiences with American Express Invites.

The perks

• Car rental insurance. Get complimentary Car Rental Theft and Damage Insurance (MSRP of up to $85,000). Terms apply.
• Employee Card Misuse Protection. Get coverage of up to $100,000 per basic cardmember in the event an employee misuses their supplementary card for unauthorized purchases.
• Fraud protection. Avoid paying for fraudulent charges on your account with a fraud protection guarantee.
• Flexible rewards. Redeem points for flights, gift cards, merchandise, Amazon.ca purchases, statement credits and more.
• Free additional cards. Order up to 99 extra cards without paying an additional fee.

What to watch out for

• Annual fee. It costs $99 per year to keep your account in good standing.
• High interest. You’ll pay between 19.99%and 21.99% interest on your account, which is about 5–7% higher than with a low-interest card.
• No cash back. You won’t be able to get cash in hand when you redeem points, but you can apply them as a credit on your next statement.
• No travel insurance. There’s no coverage for travel medical or other forms of insurance when you travel out of province.

What should I know before I apply

• Eligibility requirements

  To apply for an American Express Business Edge Card, you need to meet the following criteria:

  • Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces).
  • Own a business in Canada
  • Have a line of credit and a credit file in Canada

• Required documents and information

  • Your name, residential status and contact information.
  • Your social insurance number and date of birth.
  • Your email address and phone number.

How to apply

1. Click “Go to site” on this page to be directed to the American Express Business Edge Card Card application.
2. Complete the application, which includes providing your name, email address, social insurance number and birth date.
3. Review and submit your application.

Bottom line

If you own a small business and you want to start earning a high return on points for every purchase you make, you might like to consider the American Express Business Edge Card. This card offers a generous welcome bonus and a full suite of business perks for a reasonable annual fee.

Frequently asked questions about the American Express Business Edge Card

• Does the American Express Business Edge Card come with a welcome bonus offer?

  Yes, depending on when you signup. Earn up to 42,000 Membership Rewards points in your first year. Earn a Welcome Bonus of 30,000 Membership Rewards points when you spend at least $5,000 on eligible purchases within the first three months, and earn 1,000 Membership Rewards points each month (a total of 12,000 annually) when you spend a minimum of $3,000 on eligible purchases.

• How much will my points be worth?

  The value of your American Express points will vary based on what card you have. For some cards, you can get as much as half a cent to 1 cent per point, which is a high points-to-rewards ratio.

• What can I redeem my points for?

  You can cash them in for all sorts of rewards including hotels, flights, entertainment, dining, merchandise, gift cards and statement balance credits. You can also exchange them for eligible purchases at Amazon.ca.

• Can I apply online?

  Yes, you can apply by visiting the American Express bank website or you can simply click “Go to site” in the table above to be redirected to an application.