Is the American Express Business Edge your best option for business trips?

The right card can make business travel smoother and more rewarding. While the American Express Business Edge Card was once a favourite among Canadian small business owners for earning points on everyday spending, it’s now closed to new applications as of August 2024¹.

If you’re an existing cardholder, it’s still a good idea to know what you’re getting out of it. And if you’re exploring other options, we’ll walk you through what the Business Edge offered — and why something like a Wise Business account might help you keep more money in your pocket when spending internationally.

What is the Amex Business Edge card — and who is it for?

The American Express Business Edge Card was designed for Canadian small business owners and entrepreneurs looking to earn rewards on everyday business spending.

Who was eligible?

Business Edge Card applicants² must:

• Be a Canadian resident with a Canadian credit file.
• Be the age of majority in their province or territory.

Application criteria

Small business owners, including sole proprietors and freelancers can apply. Like most credit cards, approval comes down to a credit check to make sure your financial history is in good shape.

Key features and perks of the Amex Business Edge card

Membership rewards points structure³

• 3X points: Earn 3X Membership Rewards points on eligible business essentials, including office supplies, electronics, dining, and travel, up to 75,000 points annually.
• 1X points: Earn 1X points on all other card purchases.
• Monthly bonus: Receive 1,000 bonus points each month when you spend $3,000 or more in purchases on your card, up to 12,000 bonus points annually.

Additional perks⁴

• Statement credits: Earn up to $350 in statement credits per calendar year on qualifying purchases made through select partners such as Somm and DINR.
• Amex offers: Access exclusive offers and experiences, including discounts and promotions with select brands across travel, dining, shopping, and more.

Annual fees, foreign transaction charges, and real travel costs

• Annual fee: $99 CAD⁵
• Foreign transaction fee: Amex exchange rate, which includes an additional markup⁶

The exchange rate markup for the Amex Business Edge Card can vary and is applied on top of the mid-market rate. The Wise Business Card uses the mid-market exchange rate with a low conversion fee, resulting in potentially lower overall costs.

Earning vs redeeming points — does it pay off for travel?

How points are earned

With the American Express Business Edge Card, you earn Membership Rewards points on your business spending:

• 3X points on eligible business essentials such as office supplies, electronics, rides, gas, and dining.
• 1x points on all other eligible purchases.

How to redeem

Your accumulated points can be redeemed in several ways:

• Travel: Use points to book flights, hotels, car rentals, and more.
• Statement credits: Apply points towards your card balance.
• Gift cards and merchandise: Redeem points for a variety of gift cards or products, including electronics and Amazon purchases
• Transfer to loyalty programs: Convert points to partner airline or hotel loyalty programs.

Amex Travel Portal and Point Value

When booking travel through the American Express Travel portal, your points typically have the following value:

• Flights: 1,000 points = $10 (1 cent per point)⁷.
• Hotels and other travel: Point value may vary; we advisable you check the portal for current rates

This means that 50,000 points could cover a $500 flight⁷, offering a straightforward way to offset travel costs.

Will points cover all travel needs?

While the Business Edge Card offers valuable rewards, it's important to consider:

• Redemption rates: The value of points can vary depending on how you redeem them.
• Availability: Certain flights or hotels may have limited availability for point redemptions.
• Foreign Transaction fees: When traveling internationally, be mindful of the 2.5%⁶ foreign transaction fee, which can add to your expenses.

Business Edge Prince of Travel Membership

The American Express Business Edge Card is still fully active and supported for existing cardholders through Amex Canada — even though it’s no longer available to new applicants. If you already have the card, you can continue to earn and redeem Membership Rewards points just as before.

While Prince of Travel is no longer accepting new sign-ups for its Business Edge-related offers, many existing members still use the card to earn points and redeem them for travel, and the platform continues to provide guidance on making the most of Amex points. So while you can’t apply for the card right now, if it’s already in your wallet, it’s still useful for collecting rewards.

Is the Amex Business Edge Right for you?

If you're an existing cardholder, the Amex Business Edge card still provides plenty of value. Here's where it shines, and when you might want to look elsewhere.

Where the card excels:

• Great for everyday business spending like office supplies, electronics, and gas thanks to 3x points in key categories.
• Useful for Canadian-based travel and domestic expenses.
• Flexible rewards with the Membership Rewards program, including redemption for travel, gift cards, or statement credits.
• Still backed by American Express with access to Amex Offers.

When other options may be more useful:

• If your business makes regular purchases in foreign currencies, the 2.5%⁶ FX fee can add up.
• Limited airport, travel insurance or luxury travel perks compared to premium Amex cards.
• Not ideal if you rely on international suppliers or frequent overseas trips — a Wise Business account could be more cost-effective for managing cross-border expenses.

Alternatives to Amex Business Edge for international business spend

If your business regularly makes purchases or receives payments across borders, minimizing foreign transaction fees and gaining access to multiple currencies can make a big difference to your bottom line. While the Amex Business Edge has many strengths, it may not be the most cost-effective option for international spending.

Here are some Canadian banks and fintechs offering business cards designed with travel or international spending in mind:

• RBC Avion Visa Infinite Business – A travel-focused business credit card offering flexible rewards through the RBC Rewards program.
• BMO Ascend World Elite Business Mastercard – Offers competitive travel perks, like airport lounge access and travel protection.
• TD Business Travel Visa Card – Earn TD Rewards Points with seven types of insurance coverage.
• Wise Business Account & Card – A multi-currency debit card and account with real exchange rates and no foreign transaction fees.
• Float Business Card – A Canadian fintech offering corporate cards with $1 million card limits and no FX fees on USD purchases.

Amex Business Edge vs RBC Avion Visa Infinite Business

If you're an existing Amex Business Edge cardholder, Wise can be the perfect sidekick:

• Use Amex for domestic purchases and points-earning categories like office supplies and dining.
• Use Wise for foreign currency transactions or spending abroad to avoid unnecessary foreign transaction fees.

Conclusion

The Amex Business Edge card still brings value to the table for small Canadian business owners and freelancers who already have it. If you’re regularly spending on things like office supplies, client lunches, or getting around town, it’s an easy way to earn points on purchases you’re already making.

If your business regularly spends in foreign currencies, pairing the Amex Business Edge with a Wise Business account can help you avoid foreign transaction fees, save money abroad, and better manage multi-currency spending.

Sources:

1. Last Call for the American Express Business Edge Card | Prince of Travel
2. Apply For Business Credit Card | Amex CA
3. Business Edge™ Card Benefits | American Express® Canada
4. American Express Business Edge Card Benefits | Amex CA
5. American Express Business Edge Card | Prince of Travel
6. AMERICAN EXPRESS CARDS TABLE OF FEES & CHARGES SAMPLE FINANCE CHARGE (FC) COMPUTATION FOR RETAIL AND CASH ADVANCE TRANSACTIO
7. How Much Are American Express Membership Rewards® Points Worth?
8. The RBC Avion Visa Infinite Business Credit Card
9. Material differences between the HSBC Program Agreement and the RBC Business Credit Card Agreement Joint & Several Liability