As the name of this credit card implies, this card is designed for the unique, modern needs of business owners. Card holders earn three times the points for purchases made on essential business expenditures, such as office supplies, electronics, food, drinks, transportation and gas. For all other purchases, regular points are earned. As you can see, this card ensures that business owners easily earn points where ever it is they spend.
When you obtain this credit card, AMEX will greet you with 30,000 bonus points when you spend $5,000 or more on the credit card within the first three months of card membership. Card holders also earn 1,000 points for every month $3,000 is spent on the card. This means you could potentially earn 42,000 extra points in your first year of card ownership!
All of these perks are fantastic and the cost is a reasonable $99 per year. Additional cards come with no annual fee which means that your coworkers can obtain a card free of charge while contributing to your points balance and paying for necessary business expenses. Card holders also benefit from being able to pay off their balance at any time, insurance, Front of the Line access and custom business tools. After you?ve earned a healthy points balance, you can redeem them for travel, dining, entertainment, retail and merchandise purchases, among many others.
The only disadvantage to this credit card is that it is not as widely accepted as Visa or Mastercard. However, this usually is not a huge disadvantage to most businesses since they typically have more than one credit card available for use on top of other payment methods.?
All in all, the American Express Business Edge credit card is an excellent choice for small business owners and entrepreneurs. Points can be earned and redeemed on a wide array of things which gives you the best of both worlds. Finally, this credit card is an optimal choice if your business is new to credit cards and you don?t want to make a big commitment just yet!
Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where he managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook.