|March 06, 2014|
American Express Business Gold Rewards Card Puts SBOs In Control of Their Reward Points
|American Express Canada has announced the launch of the newly redesigned Business Gold Rewards Card, which now allows businesses to earn substantial rewards directly from business purchases applied to their Card. According to a recent American Express survey, 64 per cent of Small Business Owners (SBOs) use credit cards for the majority of their business expenses, making this an attractive offering for business owners. |
"Small business owners have a complex set of needs, so we're always evaluating our products to make sure that we continue to provide tools that are tailored to their needs," says Athena Varmazis, Vice President and General Manager, Small Business Services, American Express Canada. "The refreshed charge Card was designed to put SBOs in the driver's seat with the opportunity to earn extra points."
The new construct is a truly business-centric charge Card offering, as it directly links point accumulation and point redemption to business purchases. In addition to one point for every dollar in purchases charged to the card, the new 'Your 3 Suppliers Program for Business' allows SBOs to earn an additional point for every dollar in eligible purchases at three suppliers of their choice. Cardmembers can select these suppliers from a list of participating American Express merchants across four categories including technology, equipment, advertising, and everyday business spending.
"SBOs indicate that on average over half (51%) of their spending is happening with their three main suppliers," says Varmazis. "There's a huge appetite from small business owners to earn the maximum number of points possible, so the opportunity to earn points at an accelerated rate at three merchants is an exciting prospect."
In fact, it's so exciting that given the opportunity to earn double their credit card points, 52 per cent of SBOs would give up their smartphone for a day and 35 per cent would give up drinking coffee for a month.
Cardmembers can also take advantage of the new 'PointFlex for Business' feature by redeeming points for statement credits to offset eligible purchases charged to their Card at select American Express merchants. Over one-quarter (26%) of Canadian business owners told us that if given the choice they would put their points towards their business.
The American Express Business Gold Rewards Card also offers SBOs cash flow flexibility and purchasing power that can grow with their business. Cardmembers will receive the same high quality level of customer care they've come to expect with American Express, including access to 24/7 Business Servicing and an American Express Small Business Account Manager.
The American Express Business Gold Rewards Card is available now for an annual fee of $250 and to further entice business owners, a welcome bonus of 25,000 Points when Cardmembers spend $5,000 in their first three months. For more information, please visit www.amexforbusiness.ca
American Express Small Business Services
American Express Small Business Services (SBS) is dedicated exclusively to the success of small business owners and their companies. SBS supports business owners with exceptional service. We offer tailored products and services that deliver purchasing power, flexibility, cash flow management and rewards to help customers run their business. Specifically, business owners can leverage an enhanced set of products, tools, services and savings, including charge and credit cards, robust online account management capabilities and savings on business services from an expanded line-up of partners.
An online survey of 510 Canadian small business owners with 99 employees or less was conducted from 20th January to 22nd January, 2014. The survey was designed by American Express and fieldwork was conducted online. The results have been statistically weighted according to Canadian region. Discrepancies in or between totals are due to rounding.