Sound financial management is essential to ensure the stability and growth of your business. Moreover, using an American Express card for Business is an indispensable tool for entrepreneurs and self-employed individuals. Specifically, to optimize cash flow management, benefit from Amex online offers, and of course, obtain travel benefits. That being said, do you need a charge card or a credit card? In this article, we explore the different American Express business cards and help you choose based on your professional needs.
American Express business cards are distinct from ‘Corporate’ cards reserved for large companies. They are primarily aimed at the following customers:
In many cases, self-employed people tend to charge their business expenses to their personal credit cards. At the end of the year, it becomes difficult to keep track and separate business expenses from personal expenses.
To learn more about the benefits of American Express business credit cards, consult this guide:
To subscribe to an American Express business card, it is advisable to have a registered business. That being said, having a registered business is not a determining criterion for your application. Indeed, it is entirely possible to register your name instead of the business name. Often, self-employed individuals earning less than $30,000 in annual revenue include this in their personal tax return.
If you still wish to register your business with the Registraire des entreprises, consult the following guides:
Additionally, if you need help filling out your first American Express business card application, consult the following guide:
American Express cards for Business offer financial flexibility, particularly through credit card and charge card options. The main difference concerns the associated spending limits and repayment terms:
Here is more information on each type of card…
A charge card is a card you must fully pay each month. Its most significant advantage: it has no pre-set spending limits. Moreover, these cards allow you to maximize the cash flow over 55 days, which is convenient.
American Express Business Charge cards are:
For small businesses that conduct numerous transactions in a month, it is recommended to choose a payment card such as the American Express® Business Gold Rewards Card®.
A credit card is a card whose balance can be carried over from month to month with the payment of interest (not recommended) and has a pre-established credit limit. You can, if necessary, obtain a limit increase. If a limit increase is offered by American Express, there will be no impact on your credit report.
Additionally, you can transfer unused credit from your personal American Express credit cards (such as the Marriott Bonvoy® Business American Express®* Card) to your American Express business card.
American Express Business Credit Cards are:
If you are self-employed or a professional with a few monthly transactions, it is recommended to choose a credit card such as the Marriott Bonvoy® Business American Express®* Card. It is the least expensive American Express business credit card.
Now that you know the target businesses and types of business cards, discover the best cards based on your business needs. Moreover, American Express offers business cards in 3 loyalty programs:
Here is more information for each of these cards…
Do you want to earn Aeroplan points with your business purchases? The American Express® Aeroplan®* Business Reserve Card is for you. With this Card, you earn:
Additionally, you enjoy access to Maple Leaf Lounges in North America, the first checked bag for you and up to 8 travel companions, an annual companion pass, and several exclusive benefits with Air Canada.
The American Express® Aeroplan®* Business Reserve Card is the best Aeroplan credit card for self-employed professionals and small businesses who travel with Air Canada or use Aeroplan.
The Marriott Bonvoy® Business American Express®* Card has an annual fee of $150. As heavy users of the Marriott Bonvoy program, we renew this card year after year to benefit from an attractive advantage: the annual certificate for a free hotel night (worth 35,000 points). We generally use this certificate in major cities abroad to get the best possible return. It is not uncommon for a hotel night to cost 300 euros, which easily justifies the annual fee of the card.
Among its other benefits, it offers 5 Marriott Bonvoy points per dollar at participating Marriott Bonvoy hotels. It is also useful for small businesses with significant gas or restaurant purchases as it offers 3 Marriott Bonvoy points per dollar in these categories.
The Marriott Bonvoy® Business American Express®* Card Card is particularly recommended for self-employed workers, professionals, or small businesses who stay at Marriott Bonvoy hotels. It complements the Marriott Bonvoy® American Express®* Card Card and you can, of course, keep both.
The Business Platinum Card® from American Express has an annual fee of $799. It is the most expensive card among those offering Membership Rewards Points. However, in exchange for the high annual fee, it offers numerous benefits:
Moreover, it is with its free and unlimited access to airport lounges that the Business Platinum Card® from American Express stands out. The cardholder gets free and unlimited access to over 1,400 airport lounges in more than 130 countries for themselves and an additional traveler.
The Business Platinum Card® from American Express is particularly recommended for self-employed workers, professionals, or small businesses who travel regularly in Canada or around the world. Its airport lounge access is an undeniable advantage.
The American Express® Business Gold Rewards Card® is often the first card requested by small businesses. It has an annual fee of $199. Among other things, it allows you to earn a quarterly bonus of 10,000 points when you charge $20,000 in net purchases to your Card account during each calendar quarter. This represents up to $400 in account credits each year.
Let’s take the example of a billing period for a quarter that starts on April 1 and ends on June 30. You must have made $20,000 in purchases on your card during this period to benefit from the 10,000-point bonus. Note: purchases must be charged to your account before the deadline. If they are “pending”, you will not receive your bonus.
American Express business cards regularly offer welcome offers for new clients.
With this welcome offer for the American Express® Aeroplan®* Business Reserve Card, you can earn up to 90,000 Aeroplan points.
Here’s how:
With this Card, you earn 3X the points on purchases made directly with Air Canada and Air Canada Vacations. And 2X the points on hotels and car rentals. Everywhere else, you will earn 1.25X the points.
With this Card, you receive many Air Canada travel benefits, such as access to Maple Leaf Lounges in North America for you and one guest, priority check-in, priority boarding and priority baggage handling.
Enjoy your first checked bag free (up to 23kg/50lb) for up to 9 people travelling on the same reservation on Air Canada®* flights.
Like all American Express Canada Cards, there is no minimum income requirement.
The Marriott Bonvoy® Business American Express®* Card is the best credit card for travelling self-employed professionals and small business owners.
With this welcome offer, you can earn 60,000 Marriott Bonvoy points by spending $5,000 in the first 3 months after joining.
It’s a Card we recommend keeping because each year at renewal, you get an Annual Free Night Award (for up to 35,000 points at hotels worldwide) and 15 Elite Night Credits per year, counting towards your Marriott Bonvoy Elite status.
With this Card, you earn 5 points per dollar on all purchases at Marriott Bonvoy properties. And you can earn 3 points per dollar for:
And 2 points per dollar on all other purchases.
Earn up to 40,000 Membership Rewards points with this limited-time welcome offer for the American Express Gold Rewards Card for small businesses:
With this Card, you earn 1 Membership Rewards point per dollar on your purchases.
You can then use your points in many ways:
For example, with this welcome offer, if you decide to transfer your Membership Rewards points to a partner loyalty program, you would have the choice of earning up to:
Alternatively, 40,000 Membership Rewards points can be redeemed for $400 worth of travel or any other Card purchase.
Also, as a cardmember, you get many advantages such as up to 55 interest-free days to maximize your cash flow.
Finally, you are covered with reliable insurance for your travels and purchases.
In summary, you do not need to be the owner of a large business to obtain an American Express business credit card. In fact, self-employed workers and small business owners can apply for an Amex business card. Moreover, using an American Express business credit card is an essential tool for simplifying expense management and accumulating reward points. But also, for Amex online offers and travel benefits.
The advantages of subscribing to an American Express business credit card are numerous: separating business expenses from personal expenses, benefiting from Amex online offers, earning rewards on your everyday expenses, monitoring your employees’ expenses, optimizing cash flow management, and much more.
Like all American Express Canada cards, there’s no minimum personal or business income requirement. In fact, that’s one of the advantages of Amex business cards.
Whether you are self-employed or a small business owner, you can apply for an American Express business credit card as soon as you generate business income and expenses. You do not need to be incorporated.
For business needs, American Express offers credit cards and charge cards. The main difference concerns spending limits and repayment terms. With an American Express credit card, the spending limit is fixed and the balance can be carried over. With an American Express charge card, there is no predefined spending limit, but the balance must be paid in full each month.
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