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Float card review
Earn cashback, pay no FX fees and seamlessly track your receipts and transactions with the Float card.
The Float credit card is a corporate cashback card designed to streamline your business spending. You can choose a free basic plan or a premium plan with more advanced features for a $99 per month fee. All Float cards offer a 1% cashback return, no FX fees, partner rewards and an integrated system to track your spending.
Please note: All information about Float credit card has been collected independently by Finder and this card is not available through this site.
30-second take
Think about this card if you want to earn cashback and you’d like to track all of your business expenses in one place.
Choose something else if you want to earn a higher cashback rate or you’d like to shop regularly in multiple currencies.
There are no annual income requirements, but your Float card will be linked to your corporate bank account and your credit limit will depend on your bank balance.
How does the Float card work?
The Float card is a cashback card for small businesses. You can choose a basic or premium card depending on the features you want.
Basic Float card
Premium Float card
Pricing
$0 per month
$99 per month
Credit limit
Based on your bank balance
(up to $500,000)
Based on your bank balance
(up to $500,000)
Best for
Best for small teams requiring access to basic services, with 5 employees or less needing physical cards
Best for large teams needing more sophisticated spending and tracking functions and unlimited physical cards
Common features
1% cashback
0% FX fees
Unlimited virtual cards
Up to 5 physical cards
Unlimited users
Xero & QBO integrations
$500,000 account limit$100,000 limit per transaction
Automatic top-ups
Approval workflows
1% cashback
0% FX fees
Unlimited virtual cards
Unlimited physical cards
Unlimited users
Xero & QBO integrations
$500,000 account limit$100,000 limit per transaction
Automatic top-ups
Multi-level approval workflows
Premium features
N/A
Sage custom exports
NetSuite integrations
Slack integration
Team management
Custom onboarding and training
Float card basics
Take advantage of the following benefits with the Float credit card:
No need for personal guarantees. Your credit card will be backed by your business so there’s no need for a personal guarantee.
Choice of annual fee. You won’t need to pay an annual fee for the basic version of this card. You’ll pay $99 per month for Float’s premium card.
Cashback return. Earn 1% or more in cashback on your purchases.
Large credit limits. Get a credit limit of up to $500,000 as long as you have the money in your bank account to secure your payments.
No foreign transaction fees. Save 1.5% in foreign transaction fees for every dollar you spend overseas.
Business rebates. Get deals with tech companies that Float partners with.
Who does Float partner with?
You can get exclusive rewards with the following Float partners:
Amazon Web Services. Get $25,000 in AWS Activate Credits and a year of AWS support for free when you sign up with Float.
Carta. Enjoy a 20% first-year discount on equity and valuation software, along with waived implementation fees to get set up.
Float card perks
Integrated tracking software. Track your transactions and receipts all in one place with integrated expense management software.
Unlimited virtual cards. Get as many virtual cards as you need for your employees to shop online.
Free physical cards. Take advantage of 5 free cards with Float’s basic plan or unlimited physical cards with Float’s premium plan.
Accounting software integration. Export your transactions and receipts to accounting software such as Xero and QuickBooks Online.
Approval workflows. Set up automated management approvals for spending across all of your teams through Slack or email.
Premium features. Pay $99 per month to access advanced features with your premium Float card.
List of premium features available with paid accounts
You can test the following premium features out with an automatic 60-day free trial:
More accounting export options. Export your transactions and spending data to Sage business or NetSuite cloud accounting software.
Slack integration. Spenders can request new cards for approval through a simple /spend command in Slack.
Team management. Create teams to assign customized spending limits to specific groups of employees.
Multi-level approval workflows. Set multi-level approvals for each team and define approval levels based on the spending amount for any request.
Custom onboarding and training. Float will introduce your employees to credit cards and lead training sessions on the software.
What to watch out for with the Float credit card
Credit limit based on bank balance. The amount you can spend on your card will be limited by the funds you have available in your bank account.
No insurance. This card doesn’t seem to come with any type of travel insurance, purchase protection or extended warranty insurance.
Lacking information on interest rates. There’s no clear indication on the website about how much you’ll pay in interest to make purchases on this card.
Difficult to find customer reviews. There’s very little information about the card on customer review platforms.
No multi-currency accounts. You won’t be able to spend and repay funds in the currency of your choice if you own a global business.
What should I know before I apply?
Eligibility requirements
To apply for a Float credit card, you need to meet the following criteria:
Be a Canadian citizen or permanent resident who is the age of majority in your province
Own a business in Canada
Required documents and information
Your name, residential status and contact information
Visit the Float website and click “Try Float” in the top right-hand corner to sign up.
Complete the application, which includes providing your name, email address, Social Insurance Number and birth date.
Review and submit your application.
Speak with a dedicated advisor to get more information.
I got the Float card, now what?
Once you get your Float credit card, you and your employees can start spending money on business purchases. You can then use the Float expense management software to track your transactions and receipts, make your repayments and see how many cashback rewards you’ve earned.
Bottom line
The Float card comes with no FX fees, large spending limits, unlimited cards, partner rebates, expense management software and no need for personal guarantees.
This card is a good fit for small businesses that want to earn cashback and want spending limits tied to their bank account balance.
Choose something else if you want comprehensive insurance or you’d prefer to spend and hold funds on a multi-currency card.
Frequently asked questions about the Float credit card
It depends on what Float credit card you choose. The basic card is free while the premium card is $99 per month. You’ll get 5 free cards with the basic plan and unlimited free credit cards with the premium plan.
Float premium cards may be worth the extra money for large companies that need more advanced expense management tools and accounting integration abilities. Premium cards may also be worth it if your company plans to hand out cards to more than 5 employees.
No. You won’t need to provide a personal guarantee for the Float card. However, you will need to link the card to your corporate bank account. From there, your bank balance will be used to determine your credit limit on your card.
Sort of but not really. Your credit limit for your card will depend on your bank balance, but you won’t need to prepay your card to use it. Your credit limit will simply fluctuate up and down based on how much you have in the bank.
You can contact Float by phone, via email or through the online chat function on the company website.
Claire Horwood is a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, along with an Associate's Degree in Science from Camosun College. Much of Claire's coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. She has also worked extensively in the field of "Blended Finance" with the Canadian government. In her spare time, Claire loves rock climbing, travelling and drinking inordinate amounts of coffee.
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Float credit card
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