Best Business Credit Cards in Canada

Get your business credit card work as hard as you do. Find and Compare the business credit card offering low interest, no annual fee, cashback, travel rewards, travel insurance and discount car rental.
Best Business Credit Cards in Canada

Last Updated on August 27, 2021 by offerhub

Running a business has become considerably easy thanks to the availability of different financial backing options and their accompanying tools, such as credit cards made particularly for business functions.

Get your business credit card work as hard as you do. If your business requires extensive travel, you could choose a business credit card offering travel rewards, travel insurance and discount car rental. Like most businesses, you have several fixed monthly payments to make. Use your business credit card for such expenses and collecting reward points. Small business owners can take advantage of applying for a business credit card and streamline their everyday expenses.

Best Business Credit Cards in Canada

Specification: American Express® Aeroplan® Business Reserve Card

Annual Fees

$599

Interest Rate

19.99%

Cash Advance

21.99%

Network
Card Type

Business, Travel Rewards

0

Specification: Business Platinum Card® from American Express

Annual Fees

$595

Interest Rate

22.24%

Network
Card Type

Business, Travel Rewards

Featured!
1

American Express Business Edge Card

Specification: American Express Business Edge Card

Annual Fees

$99

Interest Rate

19.99%

Network
Cash Advance

21.99%

Card Type

Business, Travel Rewards

Featured!
1

Specification: Marriott Bonvoy™ Business American Express® Card

Annual Fees

$125

Interest Rate

19.99%

Network
Cash Advance

21.99%

Card Type

Business, Travel Rewards

Featured!
1

Specification: American Express® AIR MILES® Business Card

Annual Fees

$180

Interest Rate

30.00%

Network
Card Type

Business, Travel Rewards

0
Earn 1 AIR MILES Reward Mile for every $20 in credit card purchases*

Specification: BMO® AIR MILES®† No-Fee Business® Mastercard®*

Annual Fees

$0

Interest Rate

19.99%

Balance Transfer

22.99%

Cash Advance

22.99%

Network
Card Type

Business, No Annual Fee, Travel Rewards

0
Earn 150 bonus AIR MILES®* Reward Miles1

Specification: American Express® Business Gold Rewards Card

Annual Fees

$250

Interest Rate

30.00%

Balance Transfer

N/A

Cash Advance

N/A

Network
Card Type

Business, Travel Rewards

0
Earn 150 bonus AIR MILES®* Reward Miles1

Specification: American Express® AIR MILES® Gold Business Card

Annual Fees

$0

Interest Rate

19.99%

Balance Transfer

22.99%

Cash Advance

24.99%

Network
Card Type

Business, No Annual Fee, Travel Rewards

0

 

About Business Credit Cards

When selecting a credit card for your business, it is crucial to go with an issuer who understands the specific needs of your expanding business and assists in offering a variety of flexible and powerful bonuses.

Regardless of how you run your company, the best business credit card gives you the perks that you will find most useful – whether in the form of airport lounge access for regular travellers and rental cars, low-interest cashback for those with big expenses.

Best Business Credit Cards in Canada – Takeaway Thought

The top Canadian business credit card is not one vague option – there are numerous choices available for users with different needs. Before getting a business credit card, see which bonuses are the most applicable to the operations of your business. For instance, if you travel often, then go for a card that offers hotel stays, flyer miles or airport lounge access. The decision you make will ultimately be subjective, but all of the above-mentioned credit cards make worthwhile options.

Looking for a convenient way to run your everyday business expenses? A business credit card is what you need. Every business has unique needs, and we can help you find a business credit card that caters to your business’s specific requirements. Compare & Find the Best Business Credit Cards in Canada in few simple steps below.

Business Credit Cards

Business needs are different from personal needs when we talk about customized services. A business, whether it’s a small one or comparatively a larger one, always looks for convenient options for its employees. Hence, offering a proper credit card for a business is a difficult task for credit card providers such as banks. They make this task easy by offering feature-rich packages and lower costs for various business organizations.

Small Business Credit Cards

There are several kinds of Business Credit Cards. They are specially designed for small businesses, joint-ventures, or large corporations. Banks are offering extra privileges to small and medium-sized enterprises nowadays. These SME offers are valid if you can show progress in your business revenue. As an owner of a small business, you will enjoy free annual fees, small credit limits, multiple user options, and a reasonable interest rate from your credit card. You can get all these features if you consistently make purchases with your card. Your employees will also enjoy special benefits and annual fee advantages. The various packages include bonus points on your travels, gas tokens, discounts on branded products, etc. You will also get unique support from the customer managers, which is not available in the personal accounts. They will help you to calculate your costs and future possibilities once you are eligible for their credit cards. These cards can make your business transactions easier than ever. You would be free from worries about the security of your cash and the hassles that you have to bear while making payments.

Corporate Credit Cards

If you are the owner of a corporate business, there is a wide range of options that you can choose from. The corporate packages include larger loan benefits and credit limits. As the number of employees working in your company is greater than a small business, you will get some extra services. For instance, you will be eligible for special travel costs with first-class services in the airlines as you need to travel frequently on business occasions. You can make unlimited transactions with these credit cards. You will also get a prioritized service from their customer support section. Occasionally, banks offer their gold memberships for free to corporate employees. Limits are withdrawn mostly because of the need for a huge rate of transactions.

Credit cards, specialized for businesses are efficient in terms of their time-saving, cost-effective features. Faster transactions ensure better business values. Security is also a major concern for businesses. The authorization procedures and secured transaction options are provided to different businesses for confirming security and flexibility.

Business Credit Card vs. Personal Credit Card

A business credit card and a regular credit card share a few similarities, but business credit cards can do much more than your regular credit card:

  • Higher credit limit– a higher credit limit allows business owners to make more purchases. The higher limit is also attributed to the fact that the card has multiple users, who use it for different business purposes.
  • Does not build credit- regular credit cards build your credit score. Business credit cards only build the credit score of the person whose name is on the account. But with enough time, the account holder can extend the business credit card’s good credit score to apply for other corporate credit.
  • Exclusive perks and rewards- Some credit cards for regular consumers offer a reward system for their customers, business credit cards take that to the next level and offer better perks and rewards like financial management features and disability plans for their employees.
  • Only for Business Owners and Entrepreneurs- anyone can apply for a regular credit card, but you have to own and run your own business to be able to qualify for a business credit card. This is because business owners spend much more than regular consumers, as they need to buy supplies and other materials to help their business grow.

Benefits of a Business Credit Card

Before you decide on applying for a business credit card, consider some of the advantages below:

  • Be able to do more- with the credit card’s higher credit limit, you will be able to afford all the materials you need, be it items to be sold, or financing business trips to be able to expand your trade to other places.
  • Easier accounting and bookkeeping- accounting and bookkeeping take up a lot of time, but when you have a business credit card; it will be much easier for you to handle your firm’s finances. Never have to worry about it too much again!
  • Multiple users- Don’t you just hate it when your employees overspend on trips? You can easily monitor your employees’ spending habits the next time you send them out by giving them a business credit card. Keep track of how they are spending your money, and avoid any unwanted spending.
  • Travel rewards- One of the exclusive perks of owning a business credit card is that if you use your card to book flights and other travel methods, you get rewards like discounts and more! Most cards offer this, but it is still best to talk to your banker for more details.
  • Optional Insurance Plan- Most cards offer insurance plans like travel insurance, air trip insurance, health and dental and even critical illness protection. This allows you to feel safer knowing that whatever happens, you are always in safe hands.
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