Best Credit Cards

Best Business Credit Cards In Canada For 2019

Last updated on August 5, 2019 | Written by
business credit cards

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 Gold Rewards Card
Best for travel: TD® Aeroplan® Visa Infinite Credit Card
Best for hotel rewards: The Marriott Bonvoy™ American Express® Card
No foreign exchange fee: Scotiabank Passport™ Visa Infinite Card
Best for gas, food, entertainment: Scotiabank Gold American Express
Best cash back: SimplyCash Preferred Card from American Express
No annual fee: The Tangerine Money-Back Credit Card
Best for low interest: BMO Rewards® Business Mastercard®
Best balance transfer: MBNA True Line® Gold Mastercard

Best Overall Business Credit Card

American Express Business Gold Rewards Card

Apply Now

on American Express’ website

Annual fee
$250 (may be tax deductible)

Interest rate
19.99% (22.99% for cash advances, 22.99% for balance transfers)

Requirements
You are a Canadian resident and have a Canadian credit file. You are of the age of majority in your Province or Territory of residence. No mininum income requirement.

*Welcome bonus of 30,000 points (when you charge $5,000 in the first 3 months)

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.

Click here for more details about the American Express Business Gold Rewards Card

Best travel business credit card

TD® Aeroplan® Visa Infinite* Credit Card

TD Aeroplan Infinite Visa Card

Apply Now

on TD’s website

Annual fee
$120 (first year free)

Interest rate
19.99% (22.99% for cash advances, 22.99% for balance transfers)

Requirements
$60,000 annual personal income or $100,000 annual household income

*Welcome Bonus of 25,000 Aeroplan Miles when you make your first purchase with your Card.

Solutions for Business

Even if you have accumulated miles with another Card, you can transfer your miles to your Aeroplan Visa Infinite Card. That’s good news for businesses. Plus, you earn Aeroplan miles with every purchase made on your Card, and you have the reassurance of knowing your Card offers an extensive suite of travel insurance, your miles will never expire, and you earn miles twice when you pay and present your Aeroplan Membership Card at participating retailers and at the Aeroplan eStore. Even when not travelling for business, you can still earn 1.5 miles for every $1 spent on eligible grocery, gas, and drugstore purchases and aircanada.com purchases.

Added Perks

  • 10,000 Aeroplan Miles when you spend $2,000 within 90 days of Account opening
  • Enjoy Air Canada benefits while travelling
  • Earn 1 mile for every $1 spent on all other purchases made with your Card
  • Aeroplan members get access to any seat, at any time, on all Air Canada® flights
  • Complimentary Visa Infinite Concierge
  • Visa Infinite Luxury Hotel Collection

Click here for more details about the TD® Aeroplan® Visa Infinite Card

Best for hotel rewards

The Marriott Bonvoy™ American Express® Card

Apply Now

on American Express’ website

Annual fee
$120

Interest rate
19.99% (22.99% for cash advances, 22.99% for balance transfers)

Requirements 
Any income amount. Be a permanent Canadian resident. Have reached the age of majority in the Province in which you live.

*Welcome bonus of 50,000 Marriott Bonvoy points. Plus, earn 5 points for every $1 in eligible Card purchases at participating Marriott Bonvoy properties.

Solutions for Business

With the Marriott Bonvoy American Express Card, you can use your Card for everyday purchases by employees, for business and office supplies, or when you travel. You earn 5 Marriott Bonvoy points for every dollar in eligible card purchases at participating Marriott Bonvoy properties, and  2 points for every $1 in all other Card purchases. Plus, you can manage your account online when you register for Online Services, and email updates give you the latest news on great offers, exciting contests, concerts and events, partner savings, account updates, and much more.

Added Perks

  • Feel protected at home and abroad with an extensive suite of insurance, such as flight and baggage delays, and $500,000 in travel life insurance.
  • Making a large purchase? Your coverage can automatically extend the manufacturer’s original warranty up to one additional year when you fully charge eligible items to your Marriott Bonvoy American Express Card.
  • Redeem your points for free nights at over 6,700 hotels and resorts in 130 countries at twenty-nine distinct hotel brands.
  • No annual fee for additional Cards
  • You can also transfer your points to frequent flyer miles with a wide selection of Airlines.

Click here for more details about the Marriott Bonvoy American Express Card

Best card for no foreign exchange fee

Scotiabank Passport™ Visa Infinite Card

scotiabank passport visa infinite

Apply Now

on Scotiabank’s website

Annual fee
$139

Interest rate
19.99% (22.99% for cash advances, 22.99% for balance transfers)

Requirements
Have at least $60,000 in annual personal income or at least $100,000 in annual household income

*Earn up to 25,000 bonus points with your first $1,000 in everyday purchases in the first 3 months (that’s up to $250 towards travel). Earn an additional 10,000 points when you spend $40,000 total in your first year.

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.
  • 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).

Click here for more details about the Scotiabank Passport™ Visa Infinite Card

Best card for gas, food, entertainment

Scotiabank Gold American Express

Apply Now

on Scotiabank’s website

Annual fee
$99 (waived for the first year) Extra Card $29

Interest rate
19.99% (22.99% for cash advances, 22.99% for balance transfers)

Requirements
Yearly personal income of $12,000

*Sign-up Bonus of 15,000 bonus points ($150) with your first $1000 in everyday purchases in the first 3 months

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 4 pts for every dollar spent on gas, grocery, restaurant & entertainment; 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.

Learn more about the Scotiabank Gold Amex Card

Best for cash back

SimplyCash Preferred Card from American Express

Apply Now

on American Express’ website

Annual fee
$99

Interest rate
19.99% (22.99% for cash advances, 22.99% for balance transfers)

Requirements
You are a Canadian resident and have a Canadian credit file. You are the age of majority in the Province or Territory where you live.

*Earn 5% cashback in your first 6 months (up to $300), then earn 2% cash back when your welcome rate ends.

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 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.

Click here to learn more about the Simply Preferred Card

Best no annual fee business credit card

The Tangerine Money-Back Credit Card

Apply Now

on Tangerine’s website

Annual fee
$0

Interest rate
19.95% ($3.50 for cash advances, 3% for balance transfers)

*Get 4% cash back on your bonus categories for the first 3 months.

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

Learn more about the Tangerine Money-Back Credit Card

Best low-interest card

BMO Rewards® Business Mastercard®

Apply Now

on BMO’s website

Annual fee
$120 (first year waived)

Interest rate
14.99% (22.99% for cash advances, 22.99% for balance transfers)

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.

*Get 35,000 points after you spend $5,000 in the first 3 months

Solutions for Business

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
  • Cash advances at over 1 million ATMs worldwide
  • Help around the world with lost or stolen Cards, emergency replacement Cards, and more

Learn more about the BMO Rewards Business Mastercard

Best balance transfer business credit card

MBNA True Line® Gold Mastercard

Apply Now

on MBNA’s website

Annual fee
$39

Interest rate
8.99% (24.99% for cash advances, 8.99% for balance transfers. For the first 90 days, enjoy 0% balance transfers.)

Requirements
You are a Canadian resident and are of the age of majority in your Province/Territory of residence.

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.

Learn more about the MBNA True Line® Gold Mastercard®

Summary of Best Business Credit Cards In Canada For July 2019

Credit CardBest ForAnnual FeeWelcome BonusLearn More

American Express Business Gold Rewards
Best overall$250 (may be tax deductible)30,000 Membership Rewards® pointsApply Now
TD Aeroplan Infinite Visa Card
TD® Aeroplan® Visa Infinite* Credit Card
Travel$0 first year, then $12025,000 Aeroplan MilesApply Now

The Marriott Bonvoy™ American Express® Card
Hotel rewards$12050,000 Marriott Bonvoy pointsApply Now
scotiabank passport visa infinite
Scotiabank Passport™ Visa Infinite Card
No foreign transaction fee$15035,000 Scotia Rewards pointsApply Now

Scotiabank Gold American Express
Gas, food, entertainment.$0 first year, then $9915,000 Membership Rewards® pointsApply Now

SimplyCash Preferred Card from American Express
Cash back$995% cashback in your first 6 months, then 2%Apply Now

The Tangerine Money-Back Credit Card
No fee$04% cash back on your bonus categories for the first 3 monthsApply Now

BMO Rewards® Business Mastercard®
Low interest$0 first year, then $12035,000 rewards pointsApply Now

MBNA True Line® Gold Mastercard
Balance transfer$390% balance transfer promotion for first 6 monthsApply Now