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Review: The New American Express Business Edge™ Card

To the point

American Express recently launched a new card for small businesses: the American Express Business Edge™ Card. Introducing its features.

Earning Points

With this new American Express Business Edge™ Card, you can earn:

  • 3X the points on Eats & Drinks
  • 3X the points on Rides & Gas
  • 3X the points on Office Supplies & Electronics
  • Up to a maximum of 75,000 points, and then earn 1X the points on other purchases
  • 1,000 Membership Rewards points for each monthly billing period in which you spend $3,000 in purchases on your Card

3X the points
Eats & Drinks

With the new American Express Business Edge™ Card, you’ll be able to earn 3X points on Eats & Drinks purchases.

So every time you meet a customer in a restaurant, or invite them for a drink in a bar, you’ll earn 3 Membership Rewards points per dollar.

chairs coffee shop drinking glasses lifeofpix

This category also includes fast food and coffee shops like McDonald’s, Tim Hortons or Second Cup.

No other SME card has this earning rate for such expenses.

adult bar close up Photo de Chevanon Photography provenant de Pexels

3X the points
Rides & Gas

With the new American Express Business Edge™ Card, you’ll earn 3X the points on Rides & Gas.

“Rides” includes local commuter transportation like:

  • Subway
  • Streetcar
  • Taxi
  • Limousine
  • Ride sharing services
automobile taxi

For example, if you frequently get a cab or use ride sharing services, you will earn 3 Membership Rewards points per dollar for all these expenses.

And if you use your car to meet clients, you’ll earn 3 Membership Rewards points per dollar for your gas purchases.

Photo by Zakaria Zayane on Unsplash

3X the points
Office Supplies & Electronics

On that point, American Express innovates with its new American Express Business Edge™ Card: you’ll be able to earn 3X the points on office supplies and electronics.

These two categories are generally significant in the annual budget of a small business’.

For example, if you frequently buy office supplies at Staples or other office supplies stores during the year, you could earn 3 Membership Rewards points per dollar.

1024px Staples store

Same thing if you buy electronic equipment from:

  • Apple
  • Best Buy
  • Dell
  • HP
  • and many others

It’s also a great opportunity to earn 3 Membership Rewards points per dollar for all these electronic purchases!

office 581131 1280

75,000 points cap per year

Be careful though, there is an earning limit for all these categories at 3X the points: 75,000 points per year (or $25,000 of purchases per year in these categories).

Beyond that cap, you will get 1X the points, as is the case for all other purchases.

Bonus points

In your first year as a new American Express Business Edge™ Card member, you can earn 30,000 Membership Rewards® points when you charge $5,000 in purchases to your Card in your first three months of Cardmembership.

You can also earn an additional 1,000 Membership Rewards points for each monthly billing period in which you spend $3,000 in purchases on your Card

This could add up to 42,000 points in a year, worth $420 (if you redeem your Membership Rewards points as a statement credit to offset any eligible travel purchase charge to your card or if you book travel on American Express Travel).

IMG 7042

Earning simulation in the first year

With a monthly budget of $2,000 (or $24,000 over one year) devoted to all these 3X the points categories:

  • Eats & Drinks
  • Rides & Gas
  • Office Supplies & Electronics

And $1,000 per month (or $12,000 over one year) for other 1X the points purchases.

You could earn

Points
3X the points purchases 72,000 points
1X the points purchases 12,000 points
Welcome bonus 30,000 points
Monthly bonus 12,000 points
Total 126,000 points

In this case, you could earn 126,000 Membership Rewards points: a $1,260 value (if you redeem your membership rewards points as a statement credit to offset any eligible travel purchase charge to your card or if you book travel on American Express Travel).

Redeeming points

There are many ways to redeem your Membership Rewards points :

  • Redeem points for statement credits to offset any eligible purchase charged to your Card
  • Use points to book travel within Canada or anywhere in the world with American Express Travel
  • Transfer your points to hotel loyalty programs
  • Shop with Points at Amazon.ca
  • Use points for a wide range of gift cards and merchandise

Statement credit

This is the easiest way to redeem your Membership Rewards points. You make a purchase with your American Express Business Edge™ Card and then redeem your points for statement credits to offset it.

In this way, you redeem 10,000 points for a $100 credit.

IMG 8894

Travel booking with American Express Travel

American Express Travel is the travel booking portal of American Express.

You can redeem Membership Rewards points to book:

  • Flights
  • Hotels
  • Car rentals

There you will redeem 10,000 points for a $100 credit.

It is even possible to get more value with the Fixed Points Travel program from American Express with flights between destinations like Montreal – New York for example.

skyline buildings new york skyscrapers1

Transfer to hotel loyalty programs

Another option to redeem your Membership Rewards points is by transferring points to hotel loyalty programs.

Two hotels loyalty programs are offered:

marriott bonvoy program

1,000 Membership Rewards points
= 1,200 Marriott Bonvoy points

hilton honors program

1,000 Membership Rewards points
= 1,000 Hilton Honors points

This is a wonderful option to get free hotel nights, especially thanks to the Marriott Bonvoy program.

Mystique A Luxury Collection Hotel 05

Shop with Points at Amazon.ca

American Express Membership Rewards program is a partner of Amazon.ca. It is possible to link your Membership Rewards Account to your Amazon.ca account.

At checkout on Amazon.ca, you will be offered to redeem your Membership Rewards Points to pay for your purchases.

Here you will redeem 1,000 points for $7.

amazon amex en

Use points for gift cards and merchandise

Finally, if none of the options mentioned above work for you, it is possible to redeem your Membership Rewards points directly through American Express’ merchandise and gift cards catalog.

We advise you to monitor the promotions in order to get a good value from your Membership Rewards points.

cards

Up to 99 supplementary cards with no annual fee

For small businesses, a great perk offered by this card is the ability to add up to 99 supplementary free cards per account without any annual fee!

This is interesting for small businesses whose employees need to carry around supplementary cards to make purchases on behalf of the business.

And the American Express Business Edge™ Card includes an “Employee Card Misuses Protection”:

Your American Express Business Edge™ Card may be covered for eligible unauthorized charges if you terminate the employee and cancel their Supplementary Card within 2 business days. Employee Card Misuse Protection is a benefit created specifically for business owners and it provides coverage of up to $100,000 per Basic Cardmember in the event an employee misuses their Supplementary Card for unauthorized charges.

Employee Card Misuse Protection

My opinion on this new card

American Express has aimed just right with this new American Express Business Edge™ Card, taking what made the success of the American Express Cobalt™ Card and adapting it to the needs of professionals and small businesses.

This new card completes American Express proprietary cards portfolio:

1 credit card:

2 charge cards (your purchasing power adjusts dynamically with your Card usage):

Most importantly, American Express offers now a small business card for less than $100 a year, where other banks often charge $150 and more for cards with fewer perks.

American Express Business Edge™ Card

In my opinion, the targeted audience for this new American Express Business Edge™ Card: self-employed professionals or start-ups.

This card is particularly suitable for people:

  • being frequently on the road (with spending on gas or local transportation)
  • dining with customers (hence the multiplier for Eats & Drinks expenses)
  • making some offices or electronic purchases during the year
Image by rawpixel from Pixabay

The eligibility criteria is the same as all other small business cards:

  • You are a Canadian resident and have a Canadian credit file.
  • You are the age of majority in the province or territory where you live.

Click here to apply for this card or to get more information.

This publication is sponsored by Amex Bank of Canada. However, the opinions and views expressed on this blog are only mine.

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