American Express AIR MILES for Business Credit Card

Andrew Reyes  | 
  • Annual percentage rate (APR): 19.99% to 26.99%;
  • Purchase intro APR: None;
  • Rewards: 1 mile per $10 or $15 spent;
  • Annual fee: $180;
  • Late fee: N/A;
  • Credit score: Very good to excellent (740 to 850).
  • Compare cards here.

Benefits

  • AIR MILES accrual: AIR MILES is one of Canada’s top loyalty shopping sites. Your everyday purchases using the AIR MILES Business Amex could help you earn rewards faster at one mile for every $10 in AIR MILES purchases. You may redeem your miles for travel, attractions, events, merchandise, or cash back. Additionally, your business will earn an annual redemption bonus of 25% for travel.
  • Bonus offer: If your company is approved for the card, you’ll receive a welcome award of 2,000 bonus AIR MILES after $5,000 in charges within the first three months. The award amount is enough for a plane ticket from Toronto to New York City and leaves you with enough miles for additional merchandise purchases.
  • Cashflow assistance: Travel perks and bonuses aside, the AIR MILES credit card is designed for small businesses. To assist companies with one of the biggest challenges — cash flow — the AIR MILES Business Amex gives you an interest-free repayment period of 55 days to stretch your capital a little further.

Drawbacks

  • Annual fees could add up: The AIR MILES Business card’s annual fee is a bit higher than other American Express cards. You’ll pay $180 per year, in addition to $50 per card for any supplemental cards for employees.
  • Points limited to the AIR MILES program: Although the AIR MILES program is incredibly popular, you and your employees need to stay on top of the partner companies and websites you could accrue points from if you want to maximize your rewards earnings. It may take some time getting used to working within the program to earn and redeem miles.
  • Earnings ratio not the best: You’ll need to spend $10 to $15 just to earn one AIR MILES point. Most rewards credit cards have simpler, more attractive spending ratios of one-to-one or two-to-one.

What Can You Expect From the Amex Canada AIR MILES for Business Card?

If you’re already familiar with AIR MILES, then the card is just another way you can leverage the purchasing power of your small business to earn rewards. Here are the best features of the Amex Canada AIR MILES for Business card.

Business Reporting

Tracking spending across several cards can be time-consuming, especially if your current business expense tracking involves paper receipts. You can save considerable time by using the American Express spending reports available when you log in to your business card account online. Run reports by category, employee, or time period and download them in several formats compatible with accounting software or for review as a spreadsheet or PDF.

Cash Flow Management

Most American Express cards must be paid in full each month and don’t allow cardmembers to carry balances. The AIR MILES Business Amex has the best payment flexibility of all cards, including other American Express business cards. You have an extended payment option of 55 days to better manage your cash flow. In addition, your spending limit adjusts over time, potentially increasing after a solid track record. This comes in handy when you need to make larger capital expenditures.

Help With the AIR MILES Program

Getting familiar with how to redeem miles through the AIR MILES program may take a while. And the last thing a small business owner has these days is time. American Express provides an AIR MILES Business Preferred Servicing team to help you manage your company’s AIR MILES account.

Amex Canada Mobile App

The Amex Canada mobile app allows you to manage your business cards from your smart device. You can monitor spending, download company reports, and pay your bills, all through the app.

Who Should Get the Amex Canada AIR MILES for Business Credit Card?

The AIR MILES for Business Amex is ideal for Canadian members of the AIR MILES club interested in getting in on the potential to earn free travel, merchandise, and experiences through business spending. Each time you (or an employee) makes a purchase, your company earns one mile for every $10 purchased at AIR MILES partners and one mile for every $15 elsewhere.

You’ll need to stay on top of the best places at which your team should make company purchases to maximize your AIR MILES earnings, which may take some time to adapt to. But it will pay off in the form of free travel or computer equipment or merchandise for your business.

In addition, the AIR MILES business credit card comes with solid business features a company owner will appreciate, such as customized, downloadable expense reports, and extended payment terms of 55 days for better cash flow.

Compare other travel rewards cards and learn more here.


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