American Express Business Edge™ Card Review

  • 4 min read

For business owners looking to gain access to cash flow while they run their operations, American Express offers a business banking credit card that provides this, along with a rewards program to further unleash savings. The American Express Business Edge Card offers business clients an opportunity to earn points on everyday business spending needs, with flexible repayment options on account balances to help budget business expenses.

Clients can earn 30,000 “bonus” points through the credit card’s “welcome offer” when $5,000 is spent within the first three months of opening the account. An added 1,000 points can be earned each month when customers charge $3,000 monthly, via Business Edge’s “Monthly Bonus Spend” program. In general, customers can earn three times the reward points when eligible purchases are made for day-to-day business spending on electronics, office supplies, transportation and gas, as well as food and drinks for a maximum of 75,000 points. One point is earned on all other purchases. Lastly, clients can earn 5,000 points for each approved credit card through American Express’s referral program when friends and colleagues are referred.

With that said, collecting points means nothing if there isn’t a rewarding redeeming element to the program. Through Amex’s Membership Rewards Program, customers have flexibility around redeeming points and can choose between a variety of entertainment, dining, travel, and retail options. Points can also be redeemed for a statement credit and placed towards balances, Amazon.ca purchases (at the checkout), as well as merchandise and gift cards. Finally, those cardholders that are mere points away from a “wish list” reward item don’t have to wait to charge more on their account to hit their target. The Membership Rewards Program allows customers to purchase points, and shop to their heart’s content! Reward redemption can be invested back into a business, or used for personal needs.

Aside from the rewards component, there are other business perks for owning an American Express Business Edge. As supplementary cards are free, trusted managers that are authorized on the account can handle spending when business owners are busy with other things. With that said, the card has a feature referred to as “Employee Card Misuse Protection”, for terminated employees that may decide to rack up unauthorized charges. It takes two business days to cancel a supplementary card, so Amex has their clients’ back should something of this nature arise.

Added insurance available with the Business Edge includes Purchase Protection, which covers purchases around accidental theft or damage, as well as Buyer’s Assurance, which automatically extends the warranty on items by one added year. For business owners that travel extensively for their company, the card also offers Car Rental Theft and Damage insurance of up to $85,000. Customers are priotected by Amex’s Fraud Protection guarantee with this credit card, so there is never a worry about having to pay for unauthorized charges on the account.

With the American Express Business Edge Card comes a 24/7 customer service support line for clients, which can be accessed anywhere around the world. Customers can turn to support for issues or concerns around their credit card account, and also get business management information, tools, and resources from “Small Business Service Specialists” offered and specially trained by Amex. The telephone numbers to reach these support and specialist lines are located on the back of the credit card.

No  matter where a cardholder is they can rest assured of access to their Business Edge services even if they have lost their credit card, through Amex’s Emergency Card Replacement program.

The Amex Business Edge Card can be managed online. By registering on the Amex website, clients can view their account summary and statements, manage and make payments, as well as set up pre-authorized payments, add individuals to the account, and view transactions. Additionally, the latest business news and trends are available, and customers can also review rewards points collected.

Lastly, Business Edge cardholders are given access to Amex’s “Invites” program. It provides “Front of the Line” advanced access and reserved tickets to concerts, theatre passes, entertainment events, and other experiences. Cardholders who are a part of “Invites” get email updates, special experience offers, and events, and can extend invites to friends in some cases. It’s a fun benefit for company owners on a personal level, but also a great perk for those who may need to court special clients for their company.

The annual fee for the American Express Business Edge Card is $99, and the interest rates are fairly standard, with purchases at 19.99% and cash advances at 21.99%

For more information on this business credit card, visit the American Express Business Edge Card.

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Christopher - BSc, MBA

With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.