How do I know which rewards are best for my business?

Your best bet is to choose the rewards that make the most sense for your industry or field of work. For example, if you own a long-haul trucking company, you may want to look for a card that gives you extra rewards and benefits for gas purchases. You would likely want to avoid a card that offers extra points or cash back for office supplies, Internet or utility purchases.

Can I use a mix of business cards to capitalize on benefits and rewards?

You should be able to take out multiple cards based on your needs. This means you could issue one credit card to your administrative employees for office purchases. You could issue a separate card to your field workers for gas and dining out purchases. Using the right mix of cards can give you the best benefits and a solid return on rewards.

What if I mistakenly pay for a personal expense on a business card?

You'll need to make note of that when you file your taxes and make sure to exclude that amount from your deductions. As much as possible, you should also keep receipts for your business with notes indicating what the expense was for and how it relates to your business. This will save you a headache when you're trying to validate your costs.

How many additional cards can I order?

That depends on which card you want to apply for. Some business credit cards only allow you to have a handful of additional cards while others let you apply for up to 99 extra cards. You should check how many cards you're eligible to order before you sign up with a provider.

Can I get travel benefits with a business card?

Yes. Many business cards offer benefits and perks such as travel insurance, airport lounge access and priority services at the airport. Just be aware that you'll usually have to pay more for these cards. You may also have difficulty finding a business credit card that offers travel medical insurance.

Can I qualify for a business credit card if I have bad credit?

You might find it difficult to get a business card with bad credit. Your best bet in this case is to speak to your bank about your options. You could also explore other forms of credit such as a business loan or business line of credit.

Can I apply for a business credit card online?

Yes. You can apply online for the business credit card of your choice by visiting the website of the provider you're interested in. You can also click "Go to Site" next to the card you're interested in the table above.

Is there a difference between a personal and business credit card application?

When you apply for a business credit card, you usually need to provide additional information such as proof of the business' existence, annual revenue, monthly spending, number of employees and ownership structure.

Can I add my company logo on the credit card?

It depends on the card provider. Some issuers do allow you to add your company logo or create your own background design.

Are business credit cards good for startups?

Yes, your startup can benefit from a business credit card. Compare business credit cards for startups here.

Are there any secured or prepaid business cards on the market?

Yes, however they're usually not listed online so you will need to contact a provider to ask if they offer them. For example, TD offer a secured business card, while BMO offer a prepaid business card.

Compare Business Credit Cards l Finder Canada

Finding the best business credit card that meets the needs of your small business can take some time. This is because you’ll want to search for the card that offers the lowest annual fee and the best balance of benefits and rewards. Learn how sign up for a business credit card and how to compare cards to find the best business credit card for you.

A business credit card can take your company’s finances to the next level, but how do you choose the best business credit cards? We’ve selected the best business cards by each category—travel rewards, cash back, low interest rates and more—to help you find a the best business credit card for you.

Best business credit cards

Best best business credit card for frequent travellers: Business Platinum Card from American Express
Best best business credit card for registered Canadian corporations: Loop Corporate Credit Card
Best best business credit card for rewards: American Express Business Gold Rewards Card
Best best business credit card for hotel perks: Marriott Bonvoy Business American Express Card

Business Platinum Card from American Express

150,000 points

1.25 points per $1 spent

$799

Earn up to 150,000 bonus Membership Rewards points. T&Cs apply.

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Why we like it

The Business Platinum Card from American Express comes with a steep annual fee of $799, but the benefits can more than make up for it. If you've never had an American Express Small Business Card product before, you can get an enticing signup bonus. Earn up to 150,000 bonus Membership Rewards points. Earn 100,000 Membership Rewards points after you spend $15,000 on your Card in your first 3 months of Card membership. Plus, earn 50,000 points when you make a purchase within 15–17 months of Card membership. That’s up to $1,200 in statement credits that can be reinvested in your business. Build up points towards a wide range of rewards when you charge items to your card. Earn 1.25 Membership Rewards points for every $1 spent on eligible purchases. Points never expire, and there is no limit to the amount you can earn. Plus, enjoy a generous range of travel benefits and insurance.

Pros

Earn up to 150,000 bonus Membership Rewards points.
Earn 1.25 Membership Rewards points for every $1 spent on eligible purchases. Points never expire, and there is no limit to the amount you can earn.
Get up to 55 days to pay off your balance in full without accruing interest
The Business Platinum Card from American Express is a powerful travelling companion, offering access to over 1,400 airport lounges worldwide. Plus, access a $100 credit for NEXUS every 4 years.

Cons

This card comes with an annual fee of $799
If you use your card overseas or for online purchases with international retailers, you'll face a 2.5% foreign currency fee

Loop Corporate Credit Card

N/A

Up to 2 points per $1 spent

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Why we like it

If you have a registered Canadian corporation and you're looking to transact in multiple currencies, the Loop Corporate Credit Card could be powerful sidekick. Earn rewards points, avoid FX fees and access up to 1 million in credit.

Pros

$0 annual fee
Access up to 1 million in credit
Earn 2 points per $1 spent on a Loop Plus subscription.
The Loop Corporate Credit Card is a multi-currency credit card
Avoid paying additional costs with no FX fees
Open a Loop business bank account and pay bills in 35+ different currencies and hold funds in CAD, USD, GBP and EUR accounts

Cons

To be eligible for the Loop Corporate Credit Card, you'll need to have proof that your business is a registered Canadian corporation

American Express Business Gold Rewards Card

70,000 points

1 point per $1 spent

$199

Earn a welcome bonus of up to 70,000 Membership Rewards points in your first year. That's up to $700 in statement credits to reinvest in your business. T&Cs apply.

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Why we like it

Although the American Express Business Gold Rewards Card has an annual fee of $199, it comes with a range of valuable benefits for business owners including purchase protection, travel benefits, Employee Card Misuse Protection and rewards points on all business purchases. Earn 1 Membership Rewards point for every $1 spent on purchases. Your credit limit grows if you make payments on time and maintain a good credit history.

Pros

Earn a welcome bonus of up to 70,000 Membership Rewards points in your first year. That's up to $700 in statement credits to reinvest in your business.
Earn 1 Membership Rewards point for every $1 spent on purchases.
Access travel perks and insurance
Manage cash flow with a longer interest-free repayment period, and take advantage of Expense Management Reports

Cons

This card comes with an annual fee of $199
If you use your card overseas or for online purchases with international retailers, you'll face a 2.5% foreign currency fee

Marriott Bonvoy Business American Express Card

Up to 80,000 points

Up to 5 points per $1 spent

$150

Earn up to 80,000 bonus Marriott Bonvoy points. T&Cs apply.

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Why we like it

If you travel frequently and are on the lookout for stylish and comfortable accommodations, the Marriott Bonvoy Business American Express Card could be the right card for you. Earn 5 points for every $1 in purchases at participating Marriott Bonvoy hotels, 3 points for every $1 spent on eligible gas, dining and travel, and 2 points for every $1 spent on everything else. Earn up to 80,000 bonus Marriott Bonvoy® points. New Marriott Bonvoy Business American Express Cardmembers can earn 70,000 points after you spend $5,000 on your Card in your first 3 months of Cardmembership. Plus, earn 10,000 points when you spend $1,000 on your Card in your 13th month of Cardmembership. Earn points that can be used toward discounted or free stays at dozens of luxury hotel brands worldwide and flights with some of the world's leading airlines. Plus, enjoy travel insurance coverage, Employee Card Misuse Protection, Purchase Protection and other complimentary benefits.

Pros

Earn up to 80,000 bonus Marriott Bonvoy points.
Earn 5 points for every $1 in purchases at participating Marriott Bonvoy hotels, 3 points for every $1 spent on eligible gas, dining and travel, and 2 points for every $1 spent on everything else.
Access travel perks and insurance

Cons

This card will cost you $150 annually
Pay 2.5% for transactions conducted in a foreign currency

How we chose the best business credit cards

We’ve chosen the best business cards on this page based on the providers available through Finder. These cards are not representative of the entire market. When choosing the best business cards we considered factors including annual fees, APRs, reward opportunities, points or miles earned per dollar spent, signup bonuses and additional perks that a business owner might find valuable in a credit card, such as travel insurance or business tools.

No single business card will be the best choice for everyone, so compare your options before picking your new card.

More of the best business credit cards in Canada

There are a number of business credit cards that set themselves apart from their competitors in Canada. Check out some of our top picks below and read reviews for each card by clicking on the link.

Best for…	Best credit card picks
Fee-free cards	BMO Cashback Business Mastercard RBC Business Cash Back Mastercard TD Business Cash Back Visa Card
High return on rewards	RBC Avion Visa Infinite Business Card Business Platinum Card from American Express CIBC Aventura Visa Card for Business Plus
Generous welcome bonus	BMO Rewards Business Mastercard TD Business Travel Visa Card
Frequent flyer miles	American Express Air Miles for Business Card TD Aeroplan Visa Business Card
Low interest	TD Business Select Rate Visa Card CIBC bizline Visa Card for Business RBC Visa CreditLine for Small Business Card
Travel benefits	Scotiabank Passport Visa Infinite Business Card Marriott Bonvoy Business American Express Card American Express Aeroplan Business Reserve Card

How do business credit cards work?

Business credit cards

Business credit cards come as fee-free or premium cards and are usually reserved for sole proprietors or small businesses. They are very similar to personal cards in the way that you spend money. The main difference is that they often come with benefits and features that are tailor-made for businesses.

For example, some cards offer low interest rates and high maximum spending limits to accommodate large purchases. Others come with a large welcome bonus and offer a high return on rewards for business expenses such as office supplies, travel or dining out. Most cards will also allow you to take out multiple cards at once to distribute to employees.

What other types of business cards are there?

Aside from your run-of-the-mill business credit cards, there are two other types of business cards that you may want to consider in certain situations:

Business charge cards. Business charge cards usually offer higher credit limits and more comprehensive benefits. They will only be a good fit for your company if you make enough money to pay your balance off in full every month. You’ll be better off sticking to a regular business credit card if this isn’t feasible.
Corporate credit cards. Corporate cards are designed for larger businesses that have multiple employees and generate significant revenue. These cards often come with a dedicated account manager and offer complex expense-tracking systems. They also usually remove any personal liability you have to cover your business credit card debt.

When are business credit cards worth it?

The biggest benefit of business cards is that they allow you to track all of the money you spend on your business account separately from what you spend in your personal life. Many business cards also come with budgeting tools to help you manage your finances throughout the year. This can be a huge advantage when it comes to tax time.

Having a business credit card can also be a good idea if you want business-specific rewards and benefits. These include low interest rates, high credit limits, longer repayment periods for purchases and a higher return on points or cash back for business expenses.

Who can qualify for a small business credit card?

Anyone who owns or operates a for-profit business may be able to qualify for a small business credit card. This includes businesses that have multiple employees and generate significant amounts of revenue. It also includes sole proprietorships and businesses that are just starting out and don’t make much money yet.

You’ll typically need to have a decent personal or business credit score to get approved for a business credit card. This shows the bank that you’re likely to pay back your debts rather than default on payments. This is especially important for business cards since they often come with much higher credit limits than typical credit cards.

It’s also important to note that with business credit cards, you can be held personally responsible for any debt that your company racks up. This is something to keep in mind before you sign up for a business card instead of an alternative form of credit such as a business loan or line of credit.

Understanding personal liability for your business credit card

Unlike other forms of business debt, you will typically be held personally responsible for any debt your company generates with a credit card. This is because business cards don’t often abide by “limited liability” clauses that restrict debt to the company itself rather than to its owners.

This means that you’ll usually need to sign a personal guarantee stating that you agree to take on any business credit card debt your company owes. If you would rather not go this route, you may want to look into other options for business credit.

How to compare business credit cards

When you’re deciding which business credit card to use, you might want to compare some of the following features to find the best fit:

Annual fee. Business cards can come with no annual fee or a high annual fee, depending on which benefits you want. Your best bet is to try to figure out if paying an annual fee is worth the higher return you’ll get on points and benefits. Also keep in mind that premium cards usually come with an additional fee for employee cards as well.
Return on points. Many business credit cards offer a higher return on points or cashback for business purchases. This can include travel, gas, dining, business supplies, shipping costs and other business expenses. You’ll want to choose the card that offers the highest return on rewards for categories you spend money on most often.
Welcome bonuses. You may be able to qualify for a welcome bonus with most business cards. The size of this welcome bonus will usually depend on how much you spend on your annual fee. Start by comparing the bonus offers advertised for various cards as these can sometimes give you a year’s worth of points or more.
Perks and benefits. Some cards come with travel benefits such as travel insurance or airport lounge access. Others offer extras such as mobile-device protection or employee card-misuse insurance. Try to pick the card that offers the best mix of perks for the lowest annual fee (or opt for a no-fee card if you don’t want many extras).
Introductory rates. Some business credit cards come with promotional interest rates in your first few months. This type of card could be useful if you intend to make several large purchases as soon as you get your card. Just make sure that your rates won’t skyrocket at the end of your introductory period.
Everyday interest rates. Certain business cards come with interest rates just a few points over prime (currently 2.45%) while others charge up to 23.99% for purchases. You should decide whether you want to carry an outstanding balance on your card and aim for the lowest interest rate possible if this is the case.
Foreign transaction fees. If you plan to use your business credit card for business travel or international purchases, you may want to consider how much it charges for foreign transaction fees. A business credit card with no foreign transaction fee is ideal because it allows you to avoid this expense.

How to apply for a business credit card

You’ll follow the same process to apply for a business credit card as you would to apply for a personal card. Follow these steps to get started:

Compare providers. Compare business credit cards from a number of providers to find the best fit for your unique set of needs and budget.
Contact banks or providers directly. You may want to contact the bank or provider you’re interested in directly to get advice on the best card for your business needs.
Apply for the credit card of your choice. You’ll usually be able to apply for the card you want online by visiting the provider’s main page.
Fill out application details. Fill out personal details such as your full name, address, email and phone number to start your application.
Provide business details. Input details about your business such as the length of time you’ve been in business, your annual revenue and your business number.
Submit relevant documents. You could be required to show bank statements, business licenses, references from suppliers and other documents to support your application.
Submit to a credit check. You’ll have to submit to a personal or business credit check, depending on how long your business has been in operation.
Review final details. Read the fine print of your card and make sure you understand what you’re getting yourself into before you hand in your application.
Click submit. Once you’re ready to apply, click submit on your application or call your credit card provider directly to apply over the phone.

Benefits of business credit cards

There are many benefits to choosing a business credit card to finance your business. These include the following:

Easy to separate business expenses. You can track your business expenses separately from your personal expenses so that you’re better prepared for tax time.
Get benefits tailored to your business. Enjoy special benefits that are designed with your business in mind.
Earn rewards for business purchases. Earn a higher return on rewards for business purchases such as gas, shipping, printing, Internet and dining out.
Higher number of additional cards. Order multiple cards for your employees to use and set spending limits on each one to help control your budget.
Higher credit limits for large purchases. Get a higher spending limit on business cards than you might with personal cards.
Lower interest rates for long-term financing. Pay less interest on large purchases and outstanding balances with rates as low as 4% APR.
Helps build business credit. Build up credit for your business so that it’s easier to apply for various forms of business financing in the future.
Potential tax deductions for annual fee. Qualify for tax deductions when you spend money on your annual fee with some cards.
Special protections for employee misuse. Take advantage of special card features that monitor and protect against fraudulent use of employee cards.

What to watch out for with business credit cards

There are also a couple of drawbacks to consider with business cards:

Higher fees for added benefits. You’ll usually pay more for a business credit card than you will with personal cards if you want a high return on benefits and rewards.
Personal guarantee is often required. You may have to sign a personal guarantee that makes you legally responsible for any credit card debt your business generates.
Difficult to qualify with bad credit. You may not be able to qualify with bad credit, or you may end up paying higher interest rates to protect your provider if you default.
Less comprehensive benefits. Benefits may be limited since it’s assumed that any coverage you get will need to cover a larger number of cardholders.
Potential for employee misuse. You open yourself up to risk by giving out employee cards and you could be held responsible for fraudulent purchases.
Can only be used for business spending. These cards can only be used for business spending, so you’ll need to have a separate card to pay for personal expenses.

The 6 types of business credit cards

1. Low purchase APR credit cards

A low business APR card lets you make purchases with your card and pay very low (or sometimes no) interest for a period of time. In some cases, this type of card will offer an intro APR on balance transfers as well.