American Express Business Gold Rewards Card Review

Small business owners looking to maximize their rewards from everyday business purchases should look no further than the American Express Business Gold Rewards Card. In this review I’ll highlight several reasons why this card should be considered one of – if not the – strongest business rewards credit cards on the market today.

One major advantage the American Express Business Gold Rewards Card has over other small business credit cards is the fact that it’s actually a charge card, not a credit card. What that means is that charge cards don’t come with a pre-set spending limit. While you won’t have unlimited spending power, with a charge card you can put through more expenses during one statement cycle. That has the potential to earn you big rewards. That said, it’s important to note that charge cards must be paid off in full when the balance is due or face a hefty 30 percent fee.

Here’s a look at the rest of the features that sets the American Express Business Gold Rewards Card apart from its competitors:

American Express Business Gold Rewards Card Review

American Express Business Gold Rewards Card review

Why is this card such a powerhouse? Three reasons:

1.) You can earn a welcome bonus of 40,000 Membership Rewards points (with a referral) when you charge $5,000 worth of purchases to your card within the first three months.

2.) The $250 annual fee is waived in the first year, along with the $50 supplement card fee.

3.) Membership Rewards are arguably the most valuable points currency on the market, with the flexibility to transfer points 1:1 to frequent flyer programs like Aeroplan and Avios.

In addition, American Express Business Gold Rewards Card members will receive the following benefits:

  • 1 Membership Reward point for every dollar in purchases.
  • One extra point for every dollar charged to the card at three suppliers you pick from a list of select American Express merchants in Canada.
  • Earn a referral bonus of 10,000 Membership Rewards points for each approved referral.
  • Disability plan for small business
  • Employee card misuse protection

Plus a host of travel insurance and protection, including:

  • Travel Accident Insurance up to $100,000
  • Car Rental Theft and Damage Insurance
  • Flight Delay and Baggage Delay Insurance
  • Hotel Burglary Insurance
  • Travel Emergency Assistance
  • Lost or Stolen Baggage Insurance

Unfortunately it does not come with Emergency Medical Insurance, Travel Medical Concierge, Trip Cancellation Insurance, or Trip Interruption Insurance, but if you want those features then consider upgrading to the American Express Business Platinum Card.

Membership Rewards points

I’ve shown you why small business owners should be all over the American Express Business Gold Rewards Card. The 40,000 Membership Rewards points sign-up bonus (with referral link) beats the normal offer of 30,000 points when you spend $5,000 in the first three months. Once you reach the minimum spending threshold you’ll have at least 45,000 Membership Rewards points at your disposal.

If you’re like me, you’ll want to transfer those Membership Rewards Points to Aeroplan, which you can do on a 1:1 basis. 45,000 Aeroplan miles is worth roughly $900 in flight rewards, using an attainable return rate of 2 cents per mile.

You won’t find another credit card on the market that will give you $900 worth of travel rewards value with no annual fee in the first year. And that’s why the American Express Business Gold Rewards card should be a staple right now in every small business owner’s wallet.

Final thoughts

As a small business owner myself I took advantage of this offer earlier in the year and have already earned my 40,000 Membership Rewards points bonus. I referred myself from my American Express Platinum Card to earn the additional bonus.

If you’re interested in signing up for the American Express Business Gold Rewards Cards you’ll want to use a referral link, too, and mine will provide you with the extra 10,000 bonus points that really puts this card over the top.

BMO Air Miles World Elite MasterCard Review

Like many of you, I’ve been down on Air Miles ever since the expiry date fiasco a few years ago. But the Air Miles rewards program still packs some punch due to its lengthy list of sponsors and flexible options for redeeming miles.

The best Air Miles credit card on the market is the BMO Air Miles World Elite MasterCard and right now this card has a terrific promotion for new applicants.

Here’s a review of the card benefits:

BMO Air Miles World Elite MasterCard review

BMO Air Miles World Elite MasterCard Review

First of all, the $120 annual fee is waived in the first year. Next, you’ll get 1,000 bonus Air Miles after your first purchase. Finally, you’ll get an additional 2,000 bonus Air Miles when you spend $3,000 in the first three months.

This card is ideal for serious Air Miles collectors because with it you can earn 1 reward mile for every $10 in credit card purchases, plus it’s the only card that gives you 15 percent flight discounts on all Air Miles flights in North America with no blackout periods.

The downside: You’ll need a minimum annual income of $80,000, or household income of $150,000(!) to qualify.

Other BMO Air Miles World Elite MasterCard benefits:

  • Double dip at Air Miles sponsor locations such as Sobeys, Shell, Metro, Rona, and Rexall to accelerate your earn rate.
  • Receive a 25 percent discount on car rentals when you use your card at National Car Rental and Alamo Rent A Car locations.
  • Double the original manufacturer’s warranty period up to a maximum of one additional year.
  • Added purchase protection to insure your items against theft or damage for 90 days from date of purchase.
  • Travel and Medical protection includes Trip Cancellation, plus Collision Damage Waiver benefits on rental cars, 15 days of Out-of-Province/Out-of-Country Emergency Medical benefits up to $2 million, and more.
  • Exclusive access to VIP Airport Lounges worldwide, with the included annual Priority Pass membership and two complimentary passes per year (over $150 value per year).

Air Miles Rewards: Redeem for Flights or “Cash Back”

Once you’ve reached the $3,000 minimum spend threshold you’ll have earned 3,000 bonus Air Miles plus another 300 or so from your regular spending. What to do with 3,300 Air Miles? Your best bet is to redeem them for flights.

*Note: Since Air Miles has two rewards categories – Cash Miles and Dream Miles – you’ll need to select your preference BEFORE you start earning miles. That’s because you cannot transfer miles between categories after they’ve been earned. So, if it’s flights you’re looking for then you’ll want to turn your preference to Dream miles. If you’d prefer to redeem your miles in-store on everyday purchases then select Cash miles.

Where can you fly on Air Miles? A round-trip ticket from Calgary to Los Angeles during high season (June 1 to Sept 15) is worth 3,060 Air Miles. The exact same flight on Air Canada costs $518.

Compare that to the Air Miles Cash collector who could use the same amount of Air Miles to redeem in-store at participating sponsors (like Shell) for $320*.

*95 miles = $10 cash back

Final thoughts

The BMO Air Miles World Elite MasterCard meets my criteria for credit card churning because the first year is free and there’s a generous welcome bonus that’s fairly easy to attain. Spending $3,000 in three months is doable, especially on a card as widely accepted as MasterCard.

Gobble up 3,000 bonus Air Miles and redeem them for a North American flight or pocket the cash by saving in-store on your everyday purchases.

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