American Express Business Edge Card Review
Pros
- Welcome bonus offer: Earn up to 42,000 Membership Rewards points within the first 3 months
- Membership Rewards points: Earn 3x points on eligible office supplies, electronics, ride-sharing, and gas
- Earn 1 point per $1: Receive 1 point per $1 spent on all other eligible purchases
- Employee cards: Customize individual spending limits for employee cards at no additional cost
- Supplementary cards: Add supplementary cards at no charge
- Insurance coverage: Includes several types of insurance coverage for extra protection
- Access to American Express Invites: Exclusive entertainment, dining, and shopping experiences
Cons
- Annual fee: $99 annual fee, not waived for the first year
- Limited merchants: Not all retailers accept American Express, making it less accepted than Visa or Mastercard
- High income requirement: This card may not be accessible for small businesses with low annual revenue or personal income requirements
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Performance test results
At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.
You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.
The American Express Business Edge Card has earned a 4.24 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).
4.9
Rewards
2.2
Fees
2.3
Perks
2.7
Interest rates
0.0
Insurance
4.0
Acceptance
3.0
Approval
The highest scoring categories for the American Express Business Edge Card are rewards and interest.
These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.
This weighting allows us to judge cards on their merits and the customers they are designed for.
For the American Express Business Edge Card the most important factors for scoring this card are its rewards and interest.
Rewards
With the American Express Business Edge Card, here’s the rates at which you earn rewards for different spending categories per dollar you spend:
| Bills | 1 point |
| Pharmacy | 1 point |
| Gas | 3 points |
| Groceries | 1 point |
| Restaurants | 3 points |
| Specific Stores | 3 points |
| Travel | 1 point |
| All Other Spend | 1 point |
Calculating your annual rewards
We estimate that spending $2,000 per month with the American Express Business Edge Card would earn $720 in rewards over the year.
Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.
We found that you’d earn this per category:
| Gas | $144 |
| Restaurants | $144 |
| Specific Stores | $72 |
| All Other Spend | $360 |
Our study investigating the value found that each dollar spent on the American Express Business Edge Card is worth up to $0.02, depending on how you redeem.
This $720 in rewards value puts the American Express Business Edge Card in the top 10% of credit cards in Canada based on rewards earned.
The average credit card in our database earns $337 in rewards for the same spend that the American Express Business Edge Card earns $720 in rewards value.
We can compare this card to other options by looking at the earn rate by category.
This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.
For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.
In this example, that’s a 10% earn rate on gas.
| Spend | This Card | Average |
|---|---|---|
| Bills | 2.00% | 1.25% |
| Pharmacy | 2.00% | 1.17% |
| Gas | 6.00% | 1.48% |
| Groceries | 2.00% | 1.71% |
| Restaurant | 6.00% | 1.53% |
| Store | 6.00% | 1.94% |
| Travel | 2.00% | 1.19% |
| Other | 2.00% | 1.08% |
| Redemption method | Annual rewards |
|---|---|
| Transfer to partner airlines | $720 |
| Fixed points travel | $630 |
| Transfer to partner hotels | $418 |
| Redeem for travel | $360 |
| Apply to statement credit | $360 |
| Ticketmaster | $360 |
| Charity | $360 |
| Gift cards | $277 |
| Amazon.ca | $252 |
| Merchandise | $245 |
For an annual spend of $24,000, we estimated annual rewards value at up to $720.
That’s equivalent to a 3.00% return on spending.
The American Express Business Edge Card has an annual fee of $99. After deducting this, we predicted net annual rewards of $621.
This puts it in the top 10% of credit cards for net rewards after fees.
In comparison, the average card earns net annual rewards of $254.
Fees
The American Express Business Edge Card has a $99 annual fee.
The average card charges $85. So, the American Express Business Edge Card is in the top 40% of cards based on the cost of the annual fee.
Perks
We manually review the perks of each credit card to determine how they compare to other cards.
The American Express Business Edge Card scored a 2.3 out of 5 for perks, putting it in the top 20% of cards.
The average card scores 1.6 out of 5 for perks.
Interest Rates
| Purchase | 20.99% |
| Cash Advance | 21.99% |
| Balance Transfer | N/A% |
The average (median) credit card has a purchase interest rate of 19.99% and so the American Express Business Edge Card charges 1% more than the average.
For cash advances it costs 21.99% compared to the average of 19.96%.
Testing the American Express Business Edge Card with a $2,000 starting balance, you can see in the graph how the 1% more in interest rates impacts the interest over a year, compared to the average card.
Insurance coverage
| Insurance | This Card | Average |
|---|---|---|
| Extended Warranty | 1 year | 1 year |
| Purchase Protection | 90 days | 90 days |
| Rental Car Theft & Damage | Yes | No |
We scored it 0.0 out of 5 for insurance.
It offers 3 types of insurance, whereas the average card has 5 types of coverage.
Approval and qualifying
| Do I qualify? | |
|---|---|
| Estimated Credit Score | 660 – 724 |
| Personal Income | $0 |
| Household Income | $0 |
| Fees | |
|---|---|
| Annual Fee | $99 |
| Extra Card Fee | $0 |
| Card type | AMEX |
We scored it 3.0 out of 5 for approval.
We predict that you will require a credit score of at least 660 to qualify for the American Express Business Edge Card, while the average card requires 652 to qualify.
This puts it in the top bottom 50% of cards by approval difficulty.
The personal income requirements are $0, while the average card requires $23,896.
This puts it in the top 50% of cards by the income required to qualify.
The American Express Business Edge Card is a credit card designed for small business owners who are looking to maximize their earning potential through everyday purchases.
As a Canadian credit card expert, I will provide you with an overview of the earning potential, four major benefits, and two drawbacks of this card. Additionally, I will include any other relevant information that could be helpful for potential users.
Earning potential with the card:
The American Express Business Edge Card earns Membership Rewards points for every eligible purchase. Cardholders earn 3x points for every dollar spent on office supplies, electronics, rides, and gas.
They also earn 2x points on client dinners and commute costs, such as taxis and public transportation. All other purchases earn 1x point per dollar spent. This structure allows for significant point accumulation, especially for businesses with higher spending in the rewarded categories.
Benefits
- Welcome Bonus: One major advantage of the American Express Business Edge Card is the generous welcome bonus. New cardholders can earn up to 42,000 bonus Membership Rewards points within the first three months of card membership. Conditions apply.
- Versatile Redemption Options: The second major advantage of this card is its versatile reward points. Membership Rewards points can be redeemed for a variety of options, including travel, merchandise, gift cards, or statement credits.
Additionally, points can be transferred to airline and hotel partner programs, potentially increasing their value. - Insurance Benefits: Another advantage of the American Express Business Edge Card is its suite of insurance benefits, such as purchase protection and extended warranty coverage. Cardholders can also opt to add employee cards so that the entire team’s spending can earn rewards.
- Access to Exclusive American Express Experiences and Offers: Lastly, the American Express Business Edge Card offers access to exclusive American Express Experiences and offers through Amex Offers, which give cardholders access to discounts, special events, and pre-sale tickets.
Drawbacks
- Drawback: A significant drawback of the American Express Business Edge Card is its annual fee of $99. This may be a deterrent for small business owners who prefer a no-fee credit card option.
- Drawback: Another significant drawback is the limited acceptance of American Express cards by some merchants, compared to Visa or Mastercard. However, it is worth noting that American Express is continuously expanding its accepting network.
Additional information
The American Express Business Edge Card comes with supplementary employee cards at no additional costs. Cardholders can use the American Express Business App to manage their account on the go, simplifying expense tracking and monitoring spend.
Overall, the American Express Business Edge Card is well-suited for small businesses with a strong emphasis on rewards-earning potential and insurance benefits, despite its drawbacks of an annual fee and limited acceptance.
Not the right fit? You could consider the National Bank Mastercard Business Card. Or, if you’re looking for other options check out the CIBC Aeroplan Visa Business Card, and the BMO World Elite Business Mastercard.
FAQ
Key benefits
- Impressive Welcome Bonus: Snag a cool 42,000 Membership Rewards points after spending $5,000 within your initial 3 months
- Triple Point Bonanza: Rake in 3x points on office essentials, cutting-edge electronics, convenient ride-sharing, and every fuel-up
- Straightforward Earnings: Reap 1 point per $1 on all other spending that fulfills the eligibility criteria
- Employee Empowerment: Tailor spending ceilings for each employee card sans additional charges
- Supplementary Card Goodie: Bolster your earning power with no-cost extra cards
- Safeguard your Adventures: Enjoy diverse insurance options for unwavering peace of mind
- Divine Deals with Amex Invites: Delight in unique entertainment spectacles, gastronomical escapades, and retail therapy sessions
- Inescapable Yearly Fee: $99 knocks on your door without the grace of a first-year waiver
- Merchant Availability Hiccup: Amex acceptance lags behind Visa and Mastercard, hindering swipes at select stores
- Lofty Income Threshold: Businesses with modest revenues or individuals facing income prerequisites may find this card elusive
