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Best business credit cards in Canada

Best business credit cards in Canada

Nate Siegel Author
Esther Trattner Freelance Contributor

Updated Jan 17, 2025

Find out the best business credit cards in Canada, which offer the lowest annual fees, best sign-up bonuses, and highest earn rates on rewards or cash back.

While we adhere to strict editorial guidelines, partners on this page may provide us earnings.

Getting a business card can accelerate your earnings. Here's how to choose the best for you and your business

Various Canadian banks provide business credit cards, all with unique benefits and applications. The optimal card for your needs will present perks tailored to your business operations. These perks could include access to rental cars and airport lounges for regular travelers, cashback and reward points that align with your industry's major expense areas, or policies that allow your employees spending freedom while providing you with insurance coverage.

See how the best business credit cards in Canada compare to one another and then make sure to check out our full Best Credit Cards Canada list to see all our top picks  

Top 3 business cards

American Express® Aeroplan®* Business Reserve Card

Apply Now
Apply now

Earn up to 90,000 Welcome Bonus Aeroplan®*points.

American Express® Business Gold Rewards Card

Apply Now
Apply now

Earn 40,000 bonus Membership Rewards® points*

American Express® Business Edge™

Apply Now

3.9

Read Review
Apply now

Earn up to 67,000 points*

  • Why you can trust Money.ca's best business credit card in Canada list

    +

    Money.ca rates all credit cards on a numeric scale of 1 to 5 stars, with 1 being the lowest and 5 the highest rating, respectively. Money.ca’s proprietary scoring formulas break down the confusing language, complex points, rewards and earn rates to give you the real data that caters to your needs first, not ours.

    Our partnerships have no impact on our ratings, which are solely determined by the merits of each card. To learn more about how we researched and ranked these cards, read our full credit card review methodology.

Best cash back

Best cash back business card

BMO CashBack® Business Mastercard®*

10% cash back

Welcome Bonus

$0

First Year Value

$0

Annual Value

Apply Now On BMO's Secure Site

The BMO CashBack® Business Mastercard®* is one of the few business cards available that doesn’t charge an annual fee, which is all the more impressive given that its cash back rates are still competitive with business cards that charge $100+ annual fees. The card earns 1.5% cash back on office supplies, gas (1.75% at Shell*) and on recurring cell phone and internet payments*. These enhanced cash back categories make it an ideal card for small businesses with employees that do a lot of driving to meetings, have multiple cell phones on a company plan, and amass large office supply bills.

Cash back in the above spending categories is complemented with a 0.75% cash back rate for everything else*. As a $0 annual fee card its benefits beyond the solid cash back and intro offer on balance transfers are relatively scant, but it does offer a few forms of basic insurance, including zero liability for employee card abuse*.

  • Annual Fee: $0
  • Welcome offer: Get 10% cash back on gas, office supplies and cellphone and internet bill payments for 3 months!1 Plus, get a 0.00% introductory interest rate on Balance Transfers for 9 months with a 3% transfer fee.† Offer is valid until March 31, 2024.
  • Earn rates: 1.75% cash back at Shell*; 1.5% cash back on other gas, office supplies and cell phone & internet recurring payments*; 0.75% cash back everywhere else*
  • Extra feature: Liability Waiver Program to protect against employee card abuse*; Extended Warranty and Purchase Protection*

Disclosures:

  • *Terms and conditions apply
  • BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

Best no fee

Best no annual fee business card

up to 67K pts

Welcome Bonus

$1,093

First Year Value

$0

Annual Value

Welcome Bonus: Earn up to 67,000 points*

Learn More Apply Now On American Express' Secure Site

The American Express® Business EdgeTM Card is a new way for business owners to take advantage of the American Express Membership Rewards® program. Cardholders that spend on common eligible business expenses—office supplies & electronics, rides & gas, eats & drinks—will collect Membership Rewards® points at an accelerated rate of 3X points per $1 spent when your Welcome Offer ends, while all other purchases earn at 1X point per $1 spent. Caps and other conditions may apply.

Use points to offset business expenses. Membership Rewards® allows you to offset business expenses by covering the cost of purchases made on your Card, in full or in part. Redeem points for statement credits and to book flights, hotels, and car rentals. Redeem points for statement credits and to book flights, hotels, and car rentals. Redeem points for flight purchases on AirCanada.com and even transfer to frequent flier and hotel programs, including one-to-one to Aeroplan®* and Avios.

You can access coverage that can protect your business purchases when you charge the full price of eligible items to your American Express® Business EdgeTM Card. Protect your eligible purchases against accidental physical damage and theft for up to 90 days with Purchase Protection® Plan. Double the manufacturer’s original warranty up to one additional year with Buyer’s Assurance® Protection Plan.

  • Primary card annual fee: $99 ($0 for supplemental cards)
  • Welcome offer: Earn up to 67,000 points*. Terms and conditions apply.
  • Earn rates: Earn 3x the points for Card purchases on eligible business essentials including office supplies & electronics, rides & gas, eats & drinks when your Welcome Offer ends. Caps and other conditions may apply. Earn 1x the points on all other purchases charged to the Card
  • Extra features: Basic insurance coverage for rental cars, purchases, employee misuse, etc.

Disclosures:

  •  Contact American Express for the most up-to-date referral bonus figures.

    American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
Best rewards

Best business rewards card

American Express® Business Gold Rewards Card

3.9

40K pts

Welcome Bonus

$1,325

First Year Value

$925

Annual Value

Welcome Bonus: Earn 40,000 Membership Rewards® points* after you charge $7,500 to your Card within your first 3 months of Cardmembership as a new cardmember.*

Apply Now On American Express' Secure Site

The American Express® Business Gold Rewards Card offers a rather high $199 annual fee, but it might be worthwhile, particularly if your business regularly patronizes one of Amex’s suppliers and/or if you or your employees regularly fly Air Canada.

Earn 40,000 Membership Rewards® points* after you charge $7,500 to your Card within your first 3 months of Cardmembership as a new cardmember.*, here's how:

  • Earn a welcome bonus of 40,000 Membership Rewards® points* after you charge $7,500 to your Card within your first 3 months of Cardmembership.*

    That’s $400 in statement credits that can be reinvested in your business.

    *Current or former Cardmembers with this Card are not eligible. Other terms apply. 

Purchases will earn 1 Membership Rewards point for every dollar in purchases charged to the Card and get the most out of your business expenses. Points can be redeemed for air travel, hotels, merchandise on Amazon.ca, or for a statement credit—but perhaps the most attractive way to use Amex points is to transfer them 1:1 to Avios or Aeroplan®*.

Some other great business-focused benefits complement a steady stream of Membership Rewards points:

First, 55 interest-free days are appreciated by business owners who have unpredictable cash flows, which allow extra time before the balance comes due so you can keep more cash on hand when you need it most.

This card’s purchasing power grows with your business since there’s no pre-set spending limit on purchases. With this card, your purchasing power adjusts dynamically with your card usage, and can grow over time, as long as you make your payments on time and maintain a good credit history. There’s a Flexible Payment Option that allows you pay for your business expenses over time.

  • This charge card has both Due in Full and Flexible Payment Option balances. All Due in Full balances must be paid each month. Interest rate of 30% applies to each delinquent Due in Full charge. This rate is effective from the day account is opened. Interest rate of 21.99% applies to your Flexible Payment Option balance. This rate is effective from the day the Flexible Payment Option is first available on your account.

Plus, there’s Employee Card Misuse Protection, the Purchase Protection® Plan, which protects your eligible purchases against accidental physical damage and theft for up to 90 days, and the Buyer’s Assurance® Protection Plan. You can also access Mobile Device Insurance in the event of theft, loss or accidental damage, anywhere in the world, when you fully charge or finance the purchase price of an eligible mobile device on your Business Gold Rewards Card.

  • Primary card annual fee: $199 (Option to add Employee Business Gold Rewards Cards for $50 annually*)
  • Welcome offer: Earn 40,000 bonus Membership Rewards® points* (conditions apply). 
  • Earn rates: 1 point per $1 spent
  • Extra features: 55-day interest-free grace period; fairly comprehensive travel insurance; transfer points to Aeroplan®*

Disclosures:

  • Contact American Express for the most up-to-date referral bonus figures.

    American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.

Best hotel

Best business credit card for hotel rewards

Marriott Bonvoy® Business American Express®* Card

4.0

60k pts

Welcome Bonus

$914.4

First Year Value

$374.4

Annual Value

Welcome Bonus: Earn 60,000 Marriott Bonvoy® points* after you spend $5,000 on your Card within your first 3 months as a new Cardmember.

Apply Now On American Express' Secure Site

Travel to new heights with the Marriott Bonvoy® Business American Express®* Card. Travelling for work is made more affordable and comfortable with the Marriott Bonvoy® Business American Express®* Card. The card quickly earns Marriott Bonvoy points, which can be redeemed for overnight stays in the program’s network of 7,000+ hotels (like Sheraton, Westin, Ritz-Carlton, Marriott, St. Regis and more), or transferred to a number of frequent flyer programs (like Aeroplan, Cathay Pacific Asia Miles, Delta SkyMiles, etc.) at a 3:1 ratio.

The card’s point structure is attractive, but its perks help justify the $150 annual fee.

  • Redeem points for free nights with no blackout dates at over 7,000 of some of the world's most extraordinary hotels and resorts around the globe. Use your points for flights on some of the world's leading airlines
  • Receive an Annual Free Night Award automatically each year after your anniversary
  • Receive 15 Elite Night Credits each calendar year with your Marriott Bonvoy Business American Express Card. These can be used towards attaining the next level of Elite status in the Marriott Bonvoy program
  •  Upgrade to Gold Elite status after you charge $30,000 in net purchases to your Card each year, or when you combine 10 qualifying paid nights within one calendar year with the 15 Elite Night Credits from your card

Then, the business side of things really start to add up.

  • Leverage your cash flow with the option of carrying a balance or paying in full each month
  • Control employee expenses plus track and accumulate points on your account with Supplementary Cards, so you have an opportunity to maximize the points you earn

Disclosures:

  • Contact American Express for the most up-to-date referral bonus figures.

    American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.

Best airline

Best airline card for businesses

American Express® Aeroplan®* Business Reserve Card

4.2

up to 90K pts

Welcome Bonus

$841

First Year Value

$0

Annual Value

Welcome Bonus: Earn 65,000 Aeroplan®* points after spending $10,500 on your Card within the first 3 months as a new Cardmember*

Apply Now On American Express' Secure Site

The American Express® Aeroplan®* Business Reserve Card is the newest business card of the Amex lineup and comes with a lucrative welcome bonus. Earn up to 90,000 Welcome Bonus Aeroplan®*points. Here's how:

  1. 1.

    Earn 65,000 Aeroplan®* points after spending $10,500 on your Card within the first 3 months as a new Cardmember*

    Plus, earn 25,000 Aeroplan®* points* when you spend $3,500 in month 13.*

    *Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.

The card particularly rewards those that travel frequently. Earn 3 Aeroplan points on eligible Air Canada purchases*, 2 Aeroplan points on eligible hotels and car rentals and 1.25 Aeroplan points on everything else. Plus, as an Aeroplan member, you can double dip with Aeroplan partners.

Additional perks include Air Canada travel benefits such as priority airport services, a free first checked bag, and more. You can also benefit from an Annual Worldwide Companion Pass when you make at least $25,000 in net purchases prior to your card anniversary date.

  • Primary card annual fee: $599 ($199 for supplementary Aeroplan ®*Business Reserve Cards ($0 for Aeroplan®*Business Reserve No Fee))
  • Welcome offer: Earn up to 90,000 Welcome Bonus Aeroplan®*points. (conditions apply)
  • Earn rates: Earn 3 points for every $1 spent on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*, 2 points for every $1 spent on eligible hotels and car rentals. Earn 1.25 points for every $1 spent on everything else.
  • Extra features: Control employee expenses plus track and accumulate points on your account with Supplementary Cards, so you have an opportunity to maximize the points you earn; Annual Worldwide Companion Pass; comprehensive insurance (conditions apply).

Disclosures:

  • Contact American Express for the most up-to-date referral bonus figures.

    American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.

Methodology

How did we choose these cards?

Each card featured on this page was selected based on the following criteria:

  • Rewards/cash back: Does the card offer a substantial number of rewards points or a high cash back percentage in categories where businesses typically rack up expenses?
  • Annual fee: A card’s annual fee should be commensurate with the value it offers. For each card featured on this page we calculated the estimated annual rewards or cash back amounts it’s projected to earn based on a small business owner’s hypothetical annual expenditures. Estimated annual rewards values must easily outpace a card’s annual fee to merit inclusion. Free or low-cost supplementary cards also provide extra value for a business.
  • Welcome offer: A card should compete for your new patronage by offering a one-time sign-up bonus of considerable value, either in the form of a big bundle of points or an enhanced cash back rate for a limited period of time.
  • Extra perks: Does the card offer special features that make doing business easier or more comfortable, e.g. airport lounge access for some R&R between long flights? Rental car insurance for when you’re doing business out of town? A low interest rate to help you save money when you need to carry a balance from one month to the next?
Eligibility

Who can qualify for business credit cards in Canada?

Though application requirements may vary slightly from one card issuer to the next, businesses of all sizes, from sole proprietorships to large corporations, in all industries, are eligible for business credit cards in Canada. That said, some card issuers may offer separate sets of cards for lower-revenue small businesses and higher-revenue corporations. 

Most Canadian card issuers do require documentation proving that you have a registered business, though the documents and data you’ll need to submit to the card issuer will of course vary depending on your business classification/entity type. Small business owners, like sole proprietors, might undergo a hard credit check when applying for a business credit card, and those with poor credit scores may have a hard time being approved.

Pros and cons

Pros and cons of business credit cards

Pros

Pros

  • Cash flow management: Business credit cards provide revolving credit, giving you purchasing power and allowing you to extend that purchasing power to your employees.

  • Business/personal differentiation: Keeping business expenses in one account conveniently separates them from personal expenses, which makes budgeting, bookkeeping, and tax prep less of a headache.

  • Setting limits: You may be able to establish maximum credit limits for your cards, either for the entire account as a whole or on individual cards.

  • Earning back: Accumulate rewards points or cash back for high volume expense categories, like office supplies, gas, or air travel.

  • Other goodies: Take advantage of business-friendly features, like car rental insurance or airport lounge access.

Cons

Cons

  • Greater expense: Interest rates may be higher than other forms of business financing for large purchases (like a line of credit or a business loan), and there are relatively few business cards with no or low annual fee.

  • Credit checks: Your personal credit score may be a factor in whether or not your application is accepted.

  • Limited selection: There are less business cards in the market than personal credit cards, and it may be difficult to find a business credit card with cash back or rewards categories that exactly match your business’s biggest spending categories.

  • Longer setup: Application process may be slightly more involved and document-heavy than applying for a personal credit card.

Summary of picks

Summary of the top business credit cards

Card Name Business Rewards Get Started
BMO CashBack® Business Mastercard®* ◦ $0 annual fee
â—¦0
â—¦ Earn 0.75% cash back on all other purchases 		Apply Now
American Express® Business EdgeTM Card ◦$99 annual fee
â—¦ Earn 3x MR points for every $1 spent on eligible office supplies & electronics, rides & gas, eats & drinks (up to a maximum of 75,000 Membership Rewards points, 1x point thereafter)
â—¦ Earn 1x MR point on everything else
â—¦ Accelerated rate welcome offer
Apply Now
American Express® Business Gold Rewards Card ◦ $199 annual fee (Option to add Employee Business Gold Rewards Cards for $50 annually*) annual fee
â—¦ 10,000 bonus points in each calendar quarter when you spend $20,000 or more.
â—¦ Earn 1 Membership Rewards point on all purchases
Apply Now
Marriott Bonvoy® Business American Express®* Card ◦ $150 annual fee (Supplementary Cards have an annual fee of $50 each*) annual fee
â—¦ Earn 5 Bonvoy points on eligible purchases at participating Marriott Bonvoy hotels
â—¦3 Bonvoy points on eligible gas, dining and travel
â—¦ Earn 2 Bonvoy points on everything else
â—¦ Accelerated rate welcome offer
Apply Now
American Express® Aeroplan®* Business Reserve Card ◦ $599 annual fee
â—¦ Earn 3 Aeroplan points on eligible Air Canada purchases*
â—¦ Earn 2 Aeroplan points on eligible hotels and car rentals
â—¦ Earn 1.25 Aeroplan points on everything else
Apply Now
Should you apply?

Should I apply for a business credit card in Canada?

Aside from credit cards, there are a number of ways a business can elect to make its purchases: Debit cards, lines of credit, loans, cash, etc. But most small businesses are advised to have at least one business credit card at their disposal, if only for financing emergency expenses during occasional periods when business is slow or accounts receivable are stacking up.

Remember: Getting the right business credit card can help keep your expenses in check and boost your bottom line; getting the wrong card can just create an unnecessary security liability or another annual fee to puff up your overhead costs. Rather than signing up for whatever card your bank pushes on you, spend a little bit of time reviewing other options and thinking through which credit card is actually suited to your field. 

Business credit cards are designed to give your budget a break. They feature generous cash-back programs, travel discounts and flexible payment options. Here's what to consider if you're looking for a business credit card.

Business credit cards can come with higher credit limits

Business credit cards have higher limits that can give your business extra capital when it comes time to invest in company resources.

And having a higher credit limit means it's likely you’ll be using a lower portion of your total available credit each month, which can improve your credit score.

Many business cards don’t have a spending limit, but be aware that these cards do tend to come with high annual fees.

Business credit card rewards can be very handy

Some business credit cards offer rewards very different from consumer credit cards, such as discounts on everyday office items like printer paper and ink, or internet services.

Those sorts of perks can be very useful if your company spends heavily on office supplies.

Other business cards offer excellent rewards if you're entrepreneur who spends heavily on travel, such as hotel room upgrades or access to private airport lounges.

The payment terms are more flexible

Card issuers understand that income flow can be inconsistent, especially when your business is just getting started. That’s why many business credit cards offer customized payment options.

For example, during slow months you might be able to postpone payments without facing penalties.

Some business cards offer extended payment plans with special terms for financing a large purchase like new office equipment or a new delivery vehicle.

There's more to the application process

When you apply for a business card, the issuer will review your business' credit history as well as your own.

Your personal credit score matters. So check your credit reports from the three major consumer credit bureaus — Equifax, Experian and TransUnion — and make sure they look OK.

Then, have a peek at the information that commercial credit bureaus like Dun & Bradstreet have on file about your company.

In the event of any minor issues, the credit card company might feel reassured if your business insurance policies and licenses are up to date.

Business credit cards can affect your personal credit

Most business credit cards require you to sign a personal guarantee when applying. That means if your company misses payments, you could be held personally liable, and your credit score could take a hit.

But not all credit card companies report to both consumer and commercial credit bureaus.

While Capital One and American Express report business activity to both types of credit agencies, Chase reports only to the commercial credit bureaus in most cases.

Weigh these pros and cons and ask yourself if you'd get the most out of a business credit card. You may decide it makes more sense to opt for a personal credit card instead.

Check out today's best business credit cards above and start earning rewards on all of your business purchases.

FAQs

FAQs

  • Can I use a personal credit card for business expenses?

    +

    Technically, yes, you can use a personal credit card for business expenses. That said, using the same credit card to pay for both personal and business expenses can lead to major bookkeeping and tax prep headaches. If you do elect to use a ‘personal’ credit card for your business it’s recommended that you at least dedicate that card specifically to your business expenses, while maintaining a separate credit card for your personal expenses.

  • What credit score is needed for a business credit card in Canada?

    +

    Applicants for a business credit card will typically need at least an average credit score (around 660+) to be approved; higher scores open a wider range of available business cards and increase your chances of approval.

  • How do I get my first business credit card?

    +

    Start by checking your personal credit score to determine which business credit cards you’ll qualify for. Then review the features of the cards listed on this page and consider which are most rewarding for your business’s spending patterns and needs. After deciding which card is most suitable, click the ‘Apply Now’ button and fill out some basic info about yourself and your business to complete the application process.

  • What is the easiest business credit card to be approved for?

    +

    Generally speaking, business credit cards with a low annual fee (or no annual fee) and a more modest credit score requirement will be easier to be approved for than cards with a higher annual fee and a higher credit score requirement. BMO, for example, offers business credit cards that are more accessible than the business cards offered by most other issuers.

Nate Siegel Author

Nathan Siegel has a professional and educational passion for finance, and is a long-time writer for GreedyRates. He follows trends in the Canadian banking sector, compares competing products, and pours over fine print to make personal finance choices easier for Canadian consumers. In his spare time he loves running, swimming, and dogs of all kinds.

Esther Trattner Freelance Contributor

Esther was formerly a freelance contributor to Money.ca.

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