Amex Bank of Canada introduced the
first no-fee, cash rebate Credit Card for Small Business in the Canadian
marketplace. Called the American Express Business Card, it is the fourth in
Amex’s family of small business products and services.
Over the past few years, Amex Canada’s small business Cardmember base has
grown by more than 40%, with spending almost three times higher than on its
The Business Card joins the growing suite of small business products in
Canada including the American Express-Costco Corporate Card for Small
Business, American Express AIR MILES Gold Business Card and American Express
Corporate Card for Small Business.
“Clearly, this is an important growth area for American Express in Canada
and around the world and represents an opportunity to combine our marketing
and product development expertise to give small business owners the tools they
need to run their business,” says Debra Ambrose, Director of New Product
Development at American Express. “Entrepreneurs are a unique market group and
getting to know their needs has been key to the growth of Amex’s small
Ambrose notes that American Express research indicates that entrepreneurs
want a Card that will give them more control over the costs of running a
business. At no annual fee and an annual cash rebate up to 2%, the American
Express Business Card gives Small Businesses more for less.
“With features like the option to purchase Health and Dental plans for
themselves, their families and employees we are designing Card products that
can play a number of roles to help the small business owner,” adds Ambrose.
Other Card features include:
– An introductory 6.9% interest rate on balance transfers
for the first six months
– Automatic enrollment in a Small Business disability plan
with security of up to $50,000
– Up to $100,000 in travel accident insurance
– Option to purchase annual management reports to help track
and streamline expenses
– Online account management
This new Canadian card product is the first to sport a fashionable new
look for the American Express Card, with a modern, cutting edge appeal.
American Express in Canada operates as Amex Bank of Canada and Amex
Canada Inc. Both are wholly-owned subsidiaries of the New York based American
Express Travel Related Services Company, Inc., the largest operating unit of
American Express Company, which provides a range of financial and travel
related services for consumers and companies. Amex Bank of Canada is the
issuer of American Express Cards in Canada. Amex Canada Inc. operates the
Travel Service Network, Corporate Travel and Travellers Cheque divisions in
Canada. Amex opened its first offices in Toronto and Hamilton in 1853 and now
employs 3,700 Canadians coast to coast.