The American Express Business Gold card is one of the best travel credit cards in Canada, but often gets overlooked because it’s a business card. What most people don’t realize is that you don’t have to have a business to apply. Sure, it’ll ask you for your business information, but you can put in anything you want.
But why would you want to apply for a business card if you don’t have a business? For the signup points of course! You’ll get 40,000 Membership Rewards points (with a referral) when you spend $5,000 in the first three months of card membership. This perk alone is enough to make my American Express Business Gold card review is positive, but keep reading for my thoughts on why this card is a winner.
American Express Business Gold card benefits
- $250 Annual fee
- 40,000 signup points (with a referral) after charging $5,000 in purchases
- Earn 1 point per $1 spent on all purchases
- Earn 1 additional point per $1 spent at three selected suppliers
- 55 interest free days
- Employee card misuse protection
- Disability plan for small business
- Some travel insurance included (no emergency medical)
What should be noted right away is the fact that the annual fee of $250 is not waived for the first year. Some people hate paying that yearly fee, but I think it’s worth it when you consider how many points you’re getting.
Usually, you get 30,000 points when you sign up for this card, but with my referral link, that jumps up to 40,000 points. To get those points, you need to spend $5,000 in the first three months of card membership.
40,000 points are worth $400 in travel credits, but if you transfer those points to Aeroplan at a 1:1 basis, they can be worth much more.
From a consumer standpoint, the American Express Business Gold Rewards card is not that appealing. You earn 1 point per $1 spent on all purchases. You also get 1 additional point per $1 spent at 3 suppliers of your choice. If you’re a personal user then Best Buy, Petro-Canada, Lowes, and Plastiq may appeal to you, but this card is targeting business users which is why you’re probably seeing some obscure suppliers on the list.
This card also protects businesses by offering employee card misuse protection and a disability plan for small businesses. However, the travel insurance included is not as comprehensive compared to say the Gold Rewards Card.
How do Amex rewards work?
American Express Membership Rewards has a few different quirks to it which makes it one of the best rewards programs out there. At its core, 100 Membership Rewards points allow you to claim $1 in travel rewards which effectively makes your points worth 1% or 2% for your chosen supplier categories.
To claim your travel rewards, you must book through the Amex Portal online or call in to have an agent book the travel and redeem the points for you.
What makes Membership Rewards points so valuable are the transfer partners. You can transfer your points to Aeroplan or Avios at a 1:1 ratio.
Remember those 40,000 bonus points you got? Well, if you converted them to Aeroplan, you would have 40,000 Aeroplan points. It costs 25,000 Aeroplan points to claim a free flight to anywhere in the continental US or Canada which easily has a value of $600.
You can also transfer your points to Starwood at a 2:1 ratio. If you weren’t aware, you could transfer SPG points to Marriott at a 1:3 ratio, in other words, 2 Membership Rewards points is equal to 3 Marriott Rewards points.
How it compares to other cards
The best card to compare the American Express Gold Business card is the American Express Platinum Business card. Both have similar features, but the Platinum card gives you 3 points per $1 spent on restaurants, 2 points per $1 spent on travel, and 1 point per $1 spent on all other purchases. In addition, it comes with better travel benefits including travel insurance and lounge access.
If you’re an actual business owner, you should look at the supplier list offered by the Gold Business card and see if you’d get value there. If you don’t spend a lot on those suppliers, you’re probably better off just getting the Platinum Business card.
That being said, if you’re applying for this card just for the signup bonus, then, of course, it’s worth it. The first year is free, and easily ranks as one of the best travel credit cards in Canada.
My American Express Business Gold Canada review is positive. The signup bonus, multipliers, and referrals make this one of the best credit card deals available. Although the multipliers aren’t that impressive if you’re a regular consumer, business users may like what this card has to offer.