Best Credit Cards

Best Business Credit Cards In Canada For 2020

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Last updated on October 9, 2020

A business credit card adds a kind of legitimacy to your business. It can simplify your company’s bookkeeping efforts by tracking monthly expenditures, keep business and personal expenses separate, and give your company the spending power you need to grow.

There are business cards for travel, for amassing Aeroplan points, getting cash back, tapping into rewards programs, and more. Some cards have annual fees or no pre-set spending limit, while others offer a welcome sign-up bonus. Choosing a card that offers the best value for your company is important to your own situation and dependent on your company’s needs.

Summary
Best overall: American Express Business Edge Card
Best for hotels: Marriott Bonvoy Business American Express Card
Best for premium travel rewards: American Express Business Platinum
Best no annual fee card: American Express Business Air Miles Gold
Best for cash back bonus: BMO Cashback Business Mastercard
No foreign exchange fee: Scotiabank Passport Visa Infinite Card
Best for gas, food, entertainment: Scotiabank Gold American Express
Best for office supplies & bill payments: BMO Rewards® Business Mastercard
Best for flat-rate cash back: SimplyCash Preferred Card from American Express
Runner up no annual fee card: The Tangerine Money-Back Credit Card
Best balance transfer: MBNA True Line Gold Mastercard

Best Overall Business Credit Card

American Express Business EdgeTM Card

Apply Now

on American Express' website

Welcome Offer: 42,000 points when you charge $5,000 in purchases to your Card in your first three months of Cardmembership.

Earn Rate: Earn 3 times the points for Card purchases on eligible business essentials including office supplies & electronics, rides & gas, and eats & drinks.

Annual Fee: $99

Min. Income Required: $0

One of the newer business cards to come out of American Express, the American Express Business EdgeTM Card offers some of the highest welcome rewards (42,000 points), earn rates (3x the points), and business perks. At the same time, it comes with one of the lowest annual fees out of all premium Canadian business credit cards.

You’ll earn 3x the points on business purchases and perks purchases like food & drinks, transit, office supplies, electronics. This 3x offer is valid until you reach 75,000 points, which then you’ll earn the regular rate of 1x the points on purchases. The American Express Business EdgeTM Card also comes with a suite of coverage plans like employee card misuse protection, car rental and damage insurance, purchase protection, and buyer’s assurance protection. You’ll also get dedicated customer service from Amex.

Best for free hotel stays

Marriott Bonvoy™ Business American Express® Card

Apply Now

on American Express' website

Welcome Offer: 50,000 Marriott Bonvoy points, enough for 3 free nights at a Category 2 hotel. Plus receive an Annual Free Night Award automatically each year after your anniversary

Earn Rate: Earn 3 points for every $1 in Card purchases on eligible gas, dining and travel. Earn 5 points for every $1 in Card purchases at participating Marriott Bonvoy properties. Earn 2 points for every $1 on all other purchases charged to the Card.

Annual Fee: $150

Min. Income Required: $0

If you’re looking for business rewards in the form of free hotel stays, then the Marriott Bonvoy™ Business American Express® Card is the best card on the market. You’ll get 50,000 Marriott Bonvoy points as a welcome offer, which is enough for 3 free nights stays at a Cat 2 hotel. You’ll also get a free night each year you are a card member. If you reach $30,000 in purchases for the year with your card, you’ll also get automatically upgraded to Marriott Bonvoy Gold Elite status. You can stay at over 29 different hotels including: Sheraton, Westin, St. Regis, The Luxury Collection, WTM Hotels, Le Méridien, Tribute Portfolio, Element, Aloft, Four Points by Sheraton and Design Hotels. Since this card will mainly be used for travel, it also comes with a suite of travel and purchase insurance plans as well.

Best for premium travel rewards

Business Platinum Card® from American Express

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on American Express' website

Welcome Offer: 50,000 points when you charge $7,000 in purchases to your Card in your first three months of Cardmembership.

Earn Rate: Earn 1.25 Membership Rewards points for virtually every $1 in purchases and get the most out of your business expenses. You can maximize your cash flow with up to 55 interest free days. Use the Card throughout the month for all of your everyday business expenses, and earn reward points while you're at it.

Annual Fee: $499 (tax deductible)

Min. Income Required: $0

With the Business Platinum Card® from American Express, you can enjoy maximum benefits on your spending on luxury perks and travel rewards. It comes with 50,000 rewards points, and you’ll earn 1.25 Membership Rewards points for virtually every $1 in purchases and get the most out of your business expenses. You’ll get access to over 1200 airport lounges and hotel programs, maximum travel insurance coverage, and front of the line and concierge services from Amex. You’ll also get 55 interest free days to pay back your balance so that you can maximize cash flow in your business.

Best no-annual-fee business credit card

American Express® AIR MILES®* Gold Business Card

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on American Express' website

Welcome Offer: 150 bonus AIR MILES when you spend $1,000 in the first 3 months of Cardmembership.

Earn Rate: Earn 1 Reward Mile for every $15 in Card purchases at AIR MILES Sponsors. Earn 1 Reward Mile for every $20 in Card purchases everywhere else.

Annual Fee: $0 (No annual fee)

Min. Income Required: $0

The American Express® AIR MILES®* Gold Business Card comes with no annual fee + free supplementary cards for employees. If you’re looking for a solid all around card to use in your business without paying any fees, this is the best choice on the market. Earn 1 Reward Mile for every $15 in Card purchases at AIR MILES®* Sponsors and 1 Reward Mile for every $20 in Card purchases everywhere else. The card also comes with $100,000 in travel insurance coverage, employee spending monitoring, and if approved, you can access cash at any of the more than 40,000 Interac automated banking machines across Canada, or at any of the automated banking machines around the world bearing the American Express logo.

Best for office supplies & bill payments

BMO Rewards® Business Mastercard®*

Apply Now

on BMO's website

Welcome Offer: Get 50,000 points after you spend $5,000 in the first 3 months

Earn Rate: 3 BMO Rewards Points for every $1 you spend on gas, office supplies and cell phone/internet bill payments. 1.5 points on everything else.

Annual Fee: $120

Requirements: Be an owner of a for-profit business that operates in Canada. No bankruptcy in the last 7 years. Be the age of majority in your Province or Territory.

Solutions for Business

Get up to $575 in value in your first year. With the BMO Rewards Business Mastercard, you can empower your employees with purchasing power with optional employee cards, while protecting your business against employee Card abuse with BMO’s Liability Waiver Program. Use your Card at Costco locations across Canada, and enjoy the convenience of paying your bill with Pre-Authorized Payment at any BMO ATM, by mail, phone, online or at any BMO Bank of Montreal branch. Accepted world-wide, you can relax while traveling knowing you’re protected with extensive insurance coverage for all emergencies, like flight delay or trip cancellation.

Added Perks

  • Earn 3 BMO Rewards Points for every $1 you spend on gas, office supplies and cell phone/internet bill payments
  • Earn 1.5 BMO Rewards points for every $1 you spend on all other purchases.
  • Cash advances at over 1 million ATMs worldwide
  • Help around the world with lost or stolen Cards, emergency replacement cards, and more

Best for cash back bonus

BMO CashBack® Business Mastercard®*

Apply Now

on BMO's website

Welcome Offer: Get 10% cash back on gas, office supplies and cell phone/internet bills for 3 months

Interest Rate: 19.99% Purchases, 22.99% Cash Advances

Earn Rate: Get 1.5% cash back on eligible gas stations, office supplies purchases and on your cell phone and internet recurring payments. Get 1.75% back at Shell. Get 0.75% on all other purchases.

Annual Fee: $0

Solutions for Business

Get 10% cash back on gas, office supplies, and cell phone/internet bills for the first 3 months. After that, you’ll get 1.5% cash back on eligible gas stations, office supplies purchases and on your cell phone and internet recurring bill payments. You’ll also get 1.75% cash back at Shell, and 0.75% cash back on all other purchases made with your card.

Solid all around business credit card

American Express® Business Gold Rewards Card

Apply Now

on American Express' website

Welcome Offer: 30,000 points when you charge $5,000 in purchases to your Card in your first three months of Cardmembership.

Earn Rate: 1 point for every $1 spent on your card.

Annual Fee: $250 (may be tax deductible)

Min. Income Required: $0

Solutions for Business

Take control of your business with paperless Expense Management Reports delivered quarterly and annually, and get access to your billing information with online services, open 24/7 with the American Express® Business Gold Rewards Card. You’ll also have the peace of mind knowing your Card comes with protection against employee misuse, a disability plan for when you can’t work, comprehensive travel insurance, including $100,000 travel accident insurance, flight delay, lost baggage, and more.

Added Perks

  • Maximize your cash flow with up to 55 interest-free days to pay.
  • Purchasing power that adjusts with Card usage.
  • Earn 1 point for every dollar in purchases charged to the Card and redeem points for credit on your statement.
  • Plus, you get special access to events with Front of the Line, Hertz car rental benefits, fraud protection, and emergency Card replacement so you’re never left stranded.

Best card for no foreign exchange fee

Scotiabank Passport Visa Infinite

scotiabank passport visa infinite

Apply Now

on Scotia Bank’s website

Welcome Offer: 35,000 Scotia Rewards points + Complimentary Priority Pass membership, plus 6 free visits per year.

Earn Rate: 2 Scotia Rewards points for $1 spent on eligible grocery, dining, entertainment, and daily transit. 1 point for all other purchases. No FX Fees.

Annual Fee: $139

Min. Income Required: Personal $60,000 or Household $100,000.

Read review

Solutions for Business

If you travel often for business, you’ll appreciate booking your next getaway with your Scotiabank Passport Visa Infinite Card through the Scotia Rewards Travel Service, a service that lets you take advantage of the Best Price guarantee. Plus, you can redeem points for travel anywhere, anytime, with no travel restrictions, and while you’re away, you have comprehensive travel protection.You’ll enjoy complimentary Airport Lounge Access plus six free visits per year from the date of enrolment. And, you can also take advantage of the complimentary Avis® Preferred Plus membership as well as Visa Infinite Benefits, which include Visa Infinite concierge and the luxury hotel collection.

Added Perks

  • No foreign currency conversion fees.
  • Get 25,000 bonus points with your first $1,000 in everyday purchases in the first 3 months. When you spend at least $40,000 in purchases annually on your Scotiabank Passport Visa Infinite account, you will earn 10,000 bonus Scotia Rewards points.
  • Earn 2 Scotia Rewards points on every $1 you spend on eligible grocery stores, dining, entertainment purchases, and daily transit purchases (including buses, subways, taxis and more).
  • Earn 1 Scotia Rewards point on every $1 you spend on all other eligible purchases.
  • Add a supplementary Card for an employee at no charge ($50 for each Supplementary Card thereafter).

Best card for gas, food, entertainment

Scotiabank Gold American Express

scotiabank gold american express

Apply Now

on Scotiabank’s website

Welcome Offer: 30,000 Scotia Rewards points.

Earn Rate: 5x points for every $1 spent on eligible grocery, restaurants, fast food, drinking establishments, entertainment. 3x points for every $1 spent on gas, transit, and streaming services. 1x point for everything else.

Annual Fee: $120

Min. Income Required: Personal – $12,000

Read review

Solutions for Business

With the Scotiabank Gold American Express Card, you can enjoy the comfort that comes from knowing you’re covered for life’s unpredictable events, such as job loss, critical illness, or disability with optional protection available at a low monthly premium rate of only $1.09 per $100 of the daily balance on your credit Card account. Add to that comprehensive travel insurance, the ability to save time at checkout with ApplePay, added perks with the Scotia Rewards program, 25% off base rates at participating AVIS and Budget Car locations in Canada and the US, and access to over 600+ VIP airport lounges around the world with Priority Pass™ membership.

Added Perks

  • Earn 5 points for every dollar spent on gas, grocery, restaurant & entertainment. Entertainment spending includes movies, theatre, and ticket agencies.
  • 1 point / dollar on everything else. Plus, 1 point = $0.01 towards travel (no restrictions).
  • Earn 1 point for every $1 spent on all other eligible purchases.
  • Redeem points for travel anytime, anywhere – no restrictions when you book travel through the Scotia Rewards Travel Service or any other travel provider, and your points don’t ever expire.

Another no-fee cash back business credit card to consider

Tangerine Money-Back Credit Card

tangerine credit card

Apply Now

on Tangerine's website

Welcome Offer: choose up to 3 categories and receive a 4% cash back on those for the first 3 months.

Earn Rate: 2% cash back on your selected categories, and 0.5% on everything else.

Annual Fee: $0

Min. Income Required: Personal $15,000

Solutions for Business

Unlike most other credit Cards, the Tangerine Money-Back Credit Card allows you to earn unlimited Money-Back Rewards on everyday purchases. Money-Back Rewards are earned automatically on everyday purchases and paid monthly and there are no limits on the amount of money back rewards you can earn. To keep you organized, you can track and categorize your spending, organize transactions and stay on top of your spending, so you can see your financial habits and get a better idea of what you have left each month.

Added Perks

  • Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-Back Categories of your choice, like Recurring Bill Payments, Gas, Public Transportation and Parking, and Restaurants.
  • 0.50% Money-Back Rewards on all your other everyday purchases.
  • Deposit your rewards into your Tangerine savings account and earn a 3rd – 2% money back category.
  • Free Cards for authorized users on your account

Best balance transfer business credit card

MBNA True Line Gold Mastercard

mbna trueline mastercard

Apply Now

on MBNA’s website

Welcome Offer: 1.99% annual interest rate on balance transfers for the first 10 months, for transfers completed within 90 days of account opening.

Interest Rate: 8.99%

Annual Fee: $39

Min. Income Required: $0

Solutions for Business

The MBNA True Line Gold Mastercard is one of only two cards available in Canada that has a 0% balance transfer promotion lasting 6 months (after which is 8.99%) for transfers completed within 90 days of account opening. A 3% fee applies (minimum fee of $7.50 CAD) is an enormous benefit for those who can’t pay off their balance transfer in 6 months or who need to carry a balance. No annual income requirement is especially welcome to small business owners or those just starting out.

Added Perks

  • Add up to 9 authorized users with no additional annual fee for each added authorized user.
  • 24/7 customer service which includes Emergency Card Replacement on a 7-10 day delivery or by courier.
  • When travelling for business, Trip Assistance provides support for Lost Document and Ticket Replacement, Lost Luggage Assistance, Pre-trip Information, and Legal Assistance.

Best flat-rate cash back card

SimplyCash Preferred Card from American Express

Apply Now

on American Express’ website

Welcome Offer: 5% cashback in your first 6 months (up to $300).

Earn Rate: Flat rate of 2% back on purchases when your welcome period ends.

Annual Fee: $99

Min. Income Required: $0

Solutions for Business

The SimplyCash Preferred Card will earn you 2% cash back on all purchases with no maximum on how much you can earn. That might just be the highest flat cash back rate in Canada. You can get free supplementary Cards and 2% flat-rate cash back on all purchases, which makes this credit Card a good option for high volume spenders. You also get extensive insurance coverage for things like flight delays, medical emergencies, car rental loss or damage, and more. Access to American Express Invites, which gives you the chance to purchase, pre-sale and reserved tickets to events, is great when out and about, and fraud protection and emergency Card replacements means you can relax and travel worry-free.

Added Perks

  • At time of online application, you can transfer 50% of your assigned credit limit, up to a maximum of $7,500, whichever is less, and pay no balance transfer fee.
  • Refer a friend and earn a bonus of $150 cash back for each approved referral up to a maximum annual referral bonus of $2,250 Cash Back.

View the best overall credit cards in Canada.

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