Amex Business Platinum vs Gold vs Edge Cards Comparison

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Introduction

If you’re a business owner in Canada that is looking to earn some serious travel rewards and other business perks, you may want to consider an American Express Card. But the question is, which one? There are 3 Business Membership Rewards Cards you should be considering. Let’s take a detailed look and see which one’s right for you based on your needs and business goals.

In this comparison article, we’ll be taking a look at the:

Why are Amex Membership Reward Points So Valuable?

All 3 of these cards will earn you Membership Reward travel points that are extremely valuable because you can transfer them to a variety of hotel and airline loyalty programs including Marriott, Hilton, Aeroplan (Air Canada), British Airways (Alaska Airlines, great for west coast flights to Hawaii, and Delta (WestJet).

Having the flexibility to transfer your Amex points to these loyalty programs will allow you to get the absolute most value out of your travel rewards.

Is American Express accepted in Canada?

Yes!

Some businesses (especially smaller ones) may not accept American Express as readily as Visa or Mastercard because American Express charges the merchant more

If your supplier or business you deal with frequently doesn’t accept American Express, you may want to consider asking them to make an exception by negotiating that into your contract.

Currently over 70,000 retailers accept American Express in Canada. Check out the map here.

Do you need proof of your business to get approved for an American Express Business Card?

No, any business owner in Canada can apply. All of these business travel rewards Cards are for established small and medium size businesses and for entrepreneurs just starting their business.

Are Travel Rewards Taxable for Businesses in Canada?

Travel points in Canada can be taxable – or not, depending on how they are redeemed and distributed to employees. This seems to be a grey area, even in the eyes of CRA.

Canada Revenue Agency seems to have conflicting information on how travel rewards are treated, but to be on the safe side, you should keep a record of the points earned as fair market value.

Direct from the Canada Revenue Agency website:

Regardless of the cost, the following gifts and awards are considered a taxable employment benefit:

….

points that can be redeemed for air travel or other rewards; or an internal points system where an employee earns points and can redeem them for items from a catalogue;

….

Further down the page, Canada Revenue Agency also states:

Your employees do not have to include in their income the value of the rewards they received or enjoyed from the points they collect on these business trips, unless any of the following apply:

the points are converted to cash

the plan or arrangement between you and the employee seems to be a form of additional remuneration

the plan or arrangement is a form of tax avoidance

Confused? So I am I. I’d suggest reading the whole document directly from the Canada Revenue Agency which outlines how they treat gifts, awards, and loyalty points as taxable items. From there you can choose how to distribute your loyalty points and decide what works best for your business. Be sure to consult with your accountant.

Now that we’ve got those burning questions out of the way, let’s take a look at the Cards:

The Basics

Business Platinum Charge Card

Annual Fee

The American Express Business Platinum annual fee might induce sticker shock for the uninitiated, but rest assured, the travel benefits far outweigh the annual fee on this Card which we’ll cover shortly.

The Business Platinum Card comes with a price tag of $200 less than the Personal Platinum, but as a result, doesn’t include the annual $200 travel credit. All of the other travel benefits remain the same.

Supplementary Card Fee

If you’re looking to add an additional Cardmember to the account, the cost is $199 annually, which entitles that Cardmember a lot of the same travel benefits as the primary Cardmember including the coveted airport lounge access.

Supplementary Cardmembers will also be able to earn points on the account at the same rate, however redeeming points must be done through the primary Cardmembers’s account.

Interest Rate

The Business Platinum is a Card with No Pre-set Spending Limit, which means your purchasing power will automatically adjust with your spending habits.

This Card has both Due in Full and Flexible Payment Option balances:

An interest rate of 19.99% applies to the Flexible Payment Option balance.
An interest rate of 30% applies to late “Due in Full” payments.

Business Gold Charge Card

Annual Fee

The Business Gold Card is American Express’s mid level business Card with an annual fee of $199, and compared to the Platinum Card, the travel benefits are limited on this Card which we’ll see shortly.

Supplementary Card Fee

The supplementary card fee on the Business Gold is a modest $50 and just like the Business Platinum, entitles the Cardmember to earn points at the same rate as the primary Cardmember and use essentially the same benefits. However, the primary Cardmember must be the one to redeem points.

Interest Rate

Just like the Business Platinum, the Business Gold is a Charge Card, meaning your balance must be paid in full each statement. There is no preset spending limit, and your purchasing power will adjust dynamically with your spending habits.

Business Edge Credit Card

Annual Fee

For small business owners looking to get started with American Express in Canada, the annual fee is more inline with what you might be used to seeing, coming in at $99 annually. But what exactly does that annual fee get you compared to the Business Gold or Platinum? We’ll take a look shortly to see if this Card is right for you.

Supplementary Card Fee

Supplementary Cards for the Business Edge are $0 annually and allow the Cardmember to earn points at the same rate as the primary Cardmember, and can help contribute to the monthly minimum spend requirement to unlock additional bonus points.

Interest Rate

Unlike the Business Platinum and Business Gold, the Business Edge is a Credit Card, so technically you can carry a balance, although it’s not recommended since you’ll be subject to a 19.99% interest rate on purchases, and a 21.99% interest rate on funds advances.

American Express Business Card Welcome Bonuses

American Express Business Platinum

On approval and when you meet the minimum spend requirement of , you’ll earn welcome bonus points with the American Express Business Platinum Card.

The annual fee on the Business Platinum is $200 less because it doesn’t include the travel credit, so that’s a wash, but I can’t see the justification as to why there aren’t more welcome bonus points offered on the Business Card.

American Express Business Gold

The American Express Business Gold Card Canada will earn you welcome bonus points when you meet the minimum spend requirement of

American Express Business Edge

The Business Edge points structure is a bit different than the other American Express Business Cards in Canada. First, you’ll earn points when you spend

There is also a treadmill points earning structure that will award you an additional 1,000 points each month when you meet the minimum spend requirement of $3,000. That means you can potentially earn an extra 12,000 points throughout the year, but must spend $36,000 to get them.

Although this earning structure allows you to earn an extra 12,000 points each year, I’m still not a fan of it as there are easier ways to earn that many points through welcome bonuses or Card referrals. The earning structure seems like a grind, and if you’re able to put that much spend on your Card in one year, you should be looking at the Platinum or at least the Gold to reap the travel benefits.

Amex Business Cards Earning Points Structure

American Express Business Platinum

1.25 points per $1 spent

American Express Business Gold

1 point per $1 spent

American Express Business Edge

3 points per $1 spent on eligible business expenses* up to a maximum of 75,000 points, then 1x the points.

1 point per $1 spent on everything else*

*Eligible business expenses include:

Eats and drinks
- Restaurants, coffee shops and pubs in Canada.
- Does not include grocery stores.
Rides and gas
- Gas stations, public transportation, taxis, limousines, and ride sharing services.
Office supplies and electronics
- Eligible retailers whose primary focus is selling office supplies or electronics.

How to Redeem Amex Membership Reward Points for Business Cards

There are 3 different options for redeeming your Amex Membership Reward points on the Business Platinum and Gold Cards, and 2 options for the entry level Business Edge Card. Let’s take a look:

How to Redeem Amex Points for a Statement Credit (Cashback)

Beginner Redemption

Available for these Business Cards:

Business Platinum
Business Gold
Business Edge

Redeeming your Amex Membership Reward points for cashback towards your statement is easy and can be done at any time by logging to your online account and clicking ”Use points for eligible purchases”.

1,000 Amex points = $10

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Until July 20,2020 American Express is running an incredible promotion where you can earn double the rewards on the Personal Platinum Card. You’ll also be able to redeem points for double: 1,000 Amex points = $20. This offer is only valid for the Personal Platinum, not the Business Platinum at this time.
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How to Redeem Amex Points for the Fixed Points Travel Program

Beginner Redemption

Available for these Business Cards:

Business Platinum
Business Gold
Business Edge

If you’re new to travel hacking and are looking for an easy way to redeem your Amex points for travel, you may want to consider the American Express Fixed Points Travel Program.

Flight redemptions are straightforward with a set number of points required for based on the distance of your flight.

You won’t need to worry about peak and off-peak dates or award seat availability which can understandably be overwhelming for new travel hackers.

However, because the number of points required is fixed, you won’t be able to find sweet spots in this program like you would if you transfer your points to a hotel or airline loyalty program. Redemptions are easier, but you’ll likely get less value out of your points.

Learn more about Amex Fixed Points Travel.

Here’s a look at the Amex points required for economy roundtrip flights. Note that the number of points required cover up to a maximum ticket price.

<<<>>

How to Redeem Amex Points for Frequent Travel Partners (Hotel/Airline Loyalty Programs)

Intermediate & Advanced Redemption

Available for these Business Cards:

Business Platinum
Business Gold
~~Business Edge~~

Being able to transfer your Amex points to the hotel and airline loyalty programs you frequent most is where the real magic comes in with owning an Amex Business Platinum or Gold Card.

The flexibility you have to redeem your points is essential for anyone looking to get the maximum value out of their travel reward points in Canada.

But keep in mind, in order to do so, you’ll need to take the time and truly understand how these loyalty programs work to use your points efficiently. There are peak and off peak dates to be aware of and award seat availability to plan for, and wait times to transfer your points. You’ll need to be excellent at planning, have patience, and learn as you go.

American Express Travel Partners for Canadian Cardmembers

Canadian Amex Cardmembers can transfer their Amex Rewards points to these hotel and airline loyalty programs:

Airlines

Aeroplan (Air Canada): 1:1 transfer ratio
Alitalia MilleMiglia: 1:0.75 transfer ratio
Asia Miles: 1:0.75 transfer ratio
British Airways Executive Club (Alaska Airlines): 1:1 transfer ratio
Delta SkyMiles (WestJet): 1:0.75 transfer ratio
Etihad Guest: 1:0.75 transfer ratio

Hotels

Hilton Honors: 1:1 transfer ratio
Marriott Bonvoy: 1:1.2 transfer ratio

Beware! Business Edge Membership Reward Points are NOT Transferable

The biggest letdown, and what really makes the Business Edge Card an introductory Card, is the fact you can’t transfer your points to airline and hotel loyalty programs.

For myself personally, this is a deal breaker as my best redemptions have come from transferring my points, researching and taking advantage of sweet spots and lucrative promotions with airlines and hotels.

However, if you’re a travel hacking beginner, the Edge Card can still make a great option for a beginner if you’re fine with using the Fixed Points Travel Program.

American Express Business Cards Canada Travel Benefits

Airport Lounge Access

Available for these Business Cards:

Business Platinum
~~Business Gold~~
~~Business Edge~~

The most notable travel benefit that comes with the Business Platinum Card is the airport lounge access where you’ll have access to 1,200 airports worldwide.

If you’ve never experienced relaxing in an airport lounge enjoying complimentary food and alcohol before your flight, you’ve been missing out!

This benefit alone easily justifies the annual fee, and allows you and your travel guest access to the lounge. Sometimes there are even multiple lounges in the same airport, so if you’re there early, you can lounge hop!

Here’s what’s included:

You’ll have access to all PriorityPass affiliated lounges for you and a guest:

And the American Express Centurion airport lounges.

And DeltaSky airport lounges when you fly a Delta operated flight, including WestJet.

Fine Hotels and Resorts Program

Available for these Business Cards:

Business Platinum
~~Business Gold~~
~~Business Edge~~

If you love hotels as much as I do, the Fine Hotels and Resorts Program is another game changer. When you book a hotel stay using your American Express Business Platinum (or Personal) Card through Fine Hotels and Resorts you’ll receive upwards of hundreds of dollars in elite hotel benefits during your stay.

Plenty of upper scale and luxury hotels are available to choose from including:

The Fairmont
Four Seasons
JW Marriott
Pan Pacific
Rosewood
Shangri-La
And more

Benefits vary by hotel and location, but can include:

Book with Fine Hotels and Resorts

Early 12pm check-in when available
Room upgrade when available. Tip: Email the hotel ahead of time before your arrival to request this and increase your chances of a room upgrade being available. My luck with room upgrades has been extremely good. I’ve often received room upgrades several categories above what I paid for and have been worth the annual fee alone in one stay.
Daily breakfast for two people. Depending on the hotel, they may even offer free breakfast as room service! Generally you’ll receive a credit, which has been $80 USD in my experience, so you can order anything off the menu you’d like, but again, this can vary by hotel.
Late 4pm checkout
Free Wi-Fi. This is an underwhelming perk as most hotels already include free Wi-Fi, but it’s still notable.
A unique welcome amenity. This definitely varies by hotel, but I always get excited to see what the hotel has prepared for our arrival. It could be dessert, it could be a cheese platter, a bottle of wine, you’ll have to wait and see!

The Hotel Collection

Available for these Business Cards:

Business Platinum
Business Gold
~~Business Edge~~

The Hotel Collection is a similar program to the Fine Hotels and Resorts Program – but with less benefits. You’ll need to book through the American Express Hotel Collection and pay with your Business Platinum or Business Gold Card to quality for the benefits.

Book with the Hotel Collection

Benefits vary by hotel and location, but can include:

Up to $100 USD hotel credit. At the hotel’s discretion, this can be used towards dining, spa or resort activities. My preference is always the dining credit, as almost all spa treatments are more than $100 which seems more like an invitation to spend money rather than a gift. Inquire with the hotel you’re staying at to ask what credit they offer.
Room upgrade when available. Who doesn’t like getting a room upgrade just by booking their hotel stay using their Amex Business Platinum or Gold Card?

Automatic Elite Hotel Loyalty Status

Available for these Business Cards:

Business Platinum
~~Business Gold~~
~~Business Edge~~

Another one of my favourite travel benefits with the Amex Business (and Personal) Platinum Card is the automatic hotel loyalty status you’ll receive (free on enrollment).

Instead of doing in the hard way and having to stay 20, 30, or 50+ nights in a year to achieve status, just by being a Platinum Cardmember you’ll have access to the same elite hotel benefits. Benefits vary by hotel but can include:

Early check-in
Late check-out
Room upgrades
Accelerated points earning
Free Breakfast
Welcome amenities

Here are the hotels you’ll receive automatic status with:

Fast Tracked Hotel Loyalty Status Through Status Matching

Available for these Business Cards:

Business Platinum
~~Business Gold~~
~~Business Edge~~

And if you’re a savvy travel hacker, you’ll leverage your Platinum Card further by status matching to other hotel loyalty programs. Once you’ve enrolled with Marriott Bonvoy and have Gold Elite status you can enroll with other hotels and get equivalent status with them too! Here are a few hotels you can do that with:

Best Western – Match Marriott Gold to Diamond
Choice Privileges – Match Mariott Gold to Elite to Diamond
Caesars Rewards – Diamond. Follow our step by step guide on how to match Amex Platinum to Caesars Diamond.

Other Travel Benefits

We’ve covered the big airline and hotel benefits you’ll receive by being Platinum and Gold, but there are a few other perks as well, including:

Toronto Pearson International Airport Special Cardmember Benefits

Complimentary valet
15% discount on parking
Pearson Priority Security Lane access

Car Rental Elite Loyalty Status

Business Platinum:

Hertz Gold Plus Rewards Five Star Tier Membership
Avis Preferred
Carey 10% discount

Business Gold:

Hertz Gold Plus Rewards

Other Notable Card Benefits

Wow, we’ve covered a lot! Let’s take a quick look at the other benefits these Business Cards come with and compare:[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” type=”legacy”][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_color=”” border_style=”solid” border_position=”all” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”true” border_sizes_top=”0″ border_sizes_bottom=”0″ border_sizes_left=”0″ border_sizes_right=”0″ first=”true”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””][table id=30 responsive=”collapse”/][/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”20%” padding_bottom=”” padding_left=”20%” type=”legacy”][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_color=”” border_style=”solid” border_position=”all” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”true” border_sizes_top=”0″ border_sizes_bottom=”0″ border_sizes_left=”0″ border_sizes_right=”0″ first=”true”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]

What Travel Rewards Business Card in Canada Should You Get?

All day long I will recommend the Business Platinum Card because it’s personally changed the way I travel – forever.

I know the annual fee can sound intimidating, but if you’re a frequent traveller, you’ll easily spend that much on travel throughout the year anyway.

The Platinum travel benefits far outweigh the annual fee, so you can get a Card with a lower annual fee, but you’ll receive limited benefits.

We’ve seen that the Business Edge doesn’t offer any of the exciting hotel or airport travel benefits compared to the Platinum Card – or even the Gold Card for that matter.

So if you plan to travel more than a couple of times in the next year, you’re better off with the Platinum Card. Even if you redeemed your welcome bonus points for a $400 statement credit, you’d still be into the Card for $99 which is the same price as the Edge but with a ton of travel benefits. You should know by now that I don’t recommend that, but it just shows how much more value there is in the Platinum Card.

In my opinion, there is no comparison. If you can afford it, go with the Platinum and be a happy traveller if you’re a frequent flier and love getting elite hotel benefits.

As a business owner in Canada, what has your experience been like with American Express?

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