I use a similar method for things that get heavy use and it seems to hold up. I cut 2.5" binding, press in half then sew on the back with .25" seam allowance. Press to the front, mitre corners and top stitched on the front. Holds up very well. You can also use invisible thread and use the other suggested method and the final stitching doesn't show as much on the front. Works well for those of us who don't like to hand stitch or find it difficult with arthritis.