Best Business Credit Cards in Canada for 2024

The Importance of Business Credit Cards

Business credit cards play an important role in managing and growing a business because they offer a reliable and flexible solution for controlling expenses.

These cards can be used to keep track of your business spending, especially during tax time. Maintaining a centralized record of expenses helps you understand where money is going, enabling smarter financial decisions.

Moreover, this card type also improves cash flow by providing a quick credit line for transactions or expected costs. For small companies and startups with limited funds, this is an incredibly useful solution. Using a business credit card also frees up cash flow to invest in other business areas.

Additionally, some business credit cards allow you to earn points, miles, or cash back through reward programs for business expenses. These rewards can be used to cover future costs or serve as incentives for employees.

Understanding the Basics of Business Credit Cards

Basically, business credit cards work similarly to personal credit cards, but they also contain some differences.

The first difference is that business credit cards are for businesses, not individuals. That means the business is responsible for paying off the card balance instead.

Business credit cards also have higher credit limits, allowing businesses to make big purchases, but it's advisable for the business to use them smartly to avoid debt.

These cards report to business credit bureaus, not personal ones. By using business credit cards to build the business's credit history, your business can be qualified for loans or different types of credit in the future.

Lastly, they offer extra features like expense management tools and rewards.

5 Features and Benefits of Business Credit Cards

Here are 5 key features and benefits that you can expect from a business credit card:

  1. Expense Management Tools: Business credit cards offer a variety of built-in expense management tools. These tools can help you track, sort, and report expenses, making tax calculations easier.
  2. Rewards Programs: As mentioned earlier, many business credit cards provide rewards programs, allowing you to earn points, miles, or cash back on business purchases, usable for future expenses or staff rewards.
  3. Travel Benefits: A business credit card can provide valuable travel benefits if your business requires frequent travel. These can include free bags, priority boarding, and travel insurance for frequent business travel.
  4. Higher Credit Limits: Business credit cards frequently offer greater credit thresholds compared to personal ones. This can allow your business to make larger purchases, which is handy for businesses with substantial expenses.
  5. Separation of Business and Personal Expenses: Business credit cards can make it easier to keep business and personal spending separate, aiding financial management and tax reporting.

 Popular Types of Business Credit Cards

There are a lot of business credit cards, and each of them is designed with unique features and perks tailored to different business needs. Here are 5 common types of business credit cards:

  1. Business Rewards Credit Cards: Earn points, miles, or cash back on business purchases through rewards programs.
  2. Business Travel Credit Cards: Offer travel benefits like priority boarding, complimentary checked bags, and lounge access, all while accumulating points or miles from travel expenditures.
  3. Business Cash Back Credit Cards: Get cash back on business purchases, with the cashback rate varying based on spending categories.
  4. Business Charge Cards: No preset spending limit, but the balance must be paid in full each billing cycle.
  5. Business Secured Credit Cards: Need a security deposit and work with businesses that have little or no credit past. This will help them build credit.

Best Business Credit Cards In Canada

RBC Avion Visa Business
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Annual Fee: $120
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: Not Available
Why Apply:
  • Tempting bonus offer
  • Best travel companion
  • Convenient redemption
  • Simplified business processes
Recommended Credit Score:
670 900
Average to Excellent

With a premium rewards program that gives you the flexibility to redeem points and rewards, we consider the RBC Visa Business Platinum Avion the best business credit card in Canada. It?s great for businesses that spend more than $800 a month and want a comprehensive insurance program for overseas travel and a lucrative welcome bonus on top of the flexibility in redeeming points.

Tempting bonus offer ? You get 15,000 bonus RBC reward points simply by signing up and getting approved, plus a low introductory rate of 1.90% on the first 10 months for balance transfers and advances.
  • Best travel companion ? The perfect card for business owners who constantly travel, it provides 25% more points on travel related purchases and as the ability to transfer points to other travel rewards programs. It also comes with a comprehensive travel insurance package that covers medical, trip interruption and cancellation, and rental car collision and damage protection.
  • Convenient redemption ? Points can be used to redeem flights, vacation packages, merchandise, rentals, balance payment, gift cards for employees, and more.
  • Simplified business processes ? This credit card helps simplify employee reimbursement, accounting, and help identify tax-deductible expenses.

Here are additional advantages that a small business credit card can offer your business to help it grow and be profitable.?

Manage business expenses
Earn rewards for your business spend
Build credit for your business
Simplicity of recordkeeping and reporting, especially around tax time
Maintain control over spending
American Express® Business Gold Rewards Card
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Annual Fee: $199
Purchases Interest Rate: N/A%
Cash Advance Interest Rate: N/A%
Min Income Requirement: Not Available
Why Apply:
  • Great welcome bonus offer
  • Value-added rewards for travelers and cross-border shoppers
  • Lucrative rewards system
  • Rebates on flights
  • Protection for travel and purchases
Recommended Credit Score:
670 900
Average to Excellent

The Amex Business Gold Rewards Card is a solid addition your wallet if you are a small-business owner who wants to get rewarded for business or family travel. It offers great returns for business expenses with 4x points on two categories of choice. And if you regularly make FedEx purchases, the limited-time bonus offer alone exceeds the annual fee of the first year.

Why We Like It:

  • Welcome bonus - Earn a welcome bonus of 110,000 Membership Rewards® points after spending $5,000 in purchases within the first three months of Cardmembership. Plus earn 10,000 bonus points, when you charge $20,000 in net purchases to your Card account each calendar quarter. That’s a total of up to 40,000 points every year. That’s up to $1,100 in statement credits that can be reinvested in your business.
  • Value-added rewards for travelers and cross-border shoppers This rewards card provides up to 4x points per dollar spent on your top two categories, including airfare as well as purchases made in the US for gas, restaurants, shipping, and advertising.
  • Lucrative rewards system - When maximized, the current reward system will give you approximately 600,000 points a year.
  • Rebates on flights - Get 25% of your points back (up to 250,000 points annually) when you redeem points to book flights via Amex Travel.
  • Protection for travel and purchases - It offers a wide range of travel insurance and purchase protection, including automatic extended warranty, purchase protection and return protection for store and online purchases.

The American Express Business Gold Rewards card is designed for small business owners who have a little extra money in their pocket and are dedicated to credit cards as a main part of day to day spending. The annual fee on this credit card is $199, but you’ll definitely get your money’s worth. To start, you’ll earn 70,000 membership rewards points after you spend $5,000 on eligible purchases within the first three months of membership. That’s a good way to kick start your earnings!

Below is the latest welcome bonus:

Earn up to 110,000 points: Earn a welcome bonus of 70,000 Membership Rewards® points after spending $5,000 in purchases within the first three months of Cardmembership. Plus earn 10,000 bonus points, when you charge $20,000 in net purchases to your Card account each calendar quarter. That’s a total of up to 40,000 points every year. That’s up to $1,100 in statement credits that can be reinvested in your business.


After the welcoming bonus, you can earn four times the membership rewards points on two category selections of your choice. This offer is applicable on the first $150,000 spent on these two categories each year. The categories you can choose from include airfare, US dollar purchases on advertising through media, US dollar technology purchases, US dollar gas purchases, US dollar purchases at restaurants and US dollar purchases on shipping. As you can tell, this card is ideal for business owners who work with US vendors frequently. Unfortunately, after that $150,000 threshold is met, you can no longer earn four times the points. All other purchases earn one point per dollar spent. Points can be used to purchase anything through American Express, but some purchases will have more value than others.


While you’re spending, AMEX offers a flexible payment option to help you manage your cash flow. Essentially, this means you can carry the credit balance from month to month with no additional repercussions aside from interest. For purchases over $100 you can use the pay over time option. For purchases under $100, you must pay the balance in full when it’s due. If you still have some cash flow issues, you can access AMEX’s Working Capital Terms program. This program allows you to obtain additional financing beyond your spending limit on the Business Gold card.


Another notable benefit of this credit card is that it has no foreign transaction fees. As mentioned, this credit card is ideal for business owners who work with a lot of US vendors because you’ll earn more points. While you’re earning those points, you won’t be hit with foreign transaction fees which is a huge plus.


The drawbacks of this credit card include possible lack of spending opportunities within your business and lack of premium travel perks. The point of a credit card with rewards is to get something more out of it than simply a form of payment. If your business doesn’t work with US vendors or doesn’t require lots of travel to the US, you’ll probably want a different credit card. Also, there aren’t many travel perks despite the points earnings on airfare. If you want you and your employees to travel in style, this credit card isn't recommended.


All in all, this credit card is an excellent choice for small business owners who do a lot of work in the US. Even though the annual fee is high, the earnings on US purchases and the lack of foreign transaction fees is totally worth it. Apply for yours today!


Business Platinum Card®  from American Express
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Annual Fee: $799
Purchases Interest Rate: N/A%
Cash Advance Interest Rate: N/A%
Min Income Requirement: Not Available
Why Apply:
Recommended Credit Score:
740 900

Earn a welcome bonus of 80,000 Membership Rewards® points when you charge $15,000 in net purchases within the first three months of Cardmembership. You can earn 40,000 points when you make a purchase between 14 and 17 months of Cardmembership.

That’s $1,200 in statement credits that can be reinvested in your business.

 In addition to the welcome offer, card holders earn five times the membership rewards points when they spend on flights and prepaid hotels purchased through AMEX’s travel website. When card holders spend on eligible purchases, you’ll earn 50% more points with a cap of one million points per year. Finally, card holders earn one point per dollar on all other purchases.


This American Express card has a lot of other perks in addition to the lucrative rewards points earnings. Business Platinum card holders receive a $200 airline fee credit, 35% of points back when eligible flights are purchased through AMEX, discounts on Global Entry and TSA PreCheck memberships, global airport lounge access and gold status at Marriott and Hilton hotels loyalty programs. There are also no foreign transaction fees on this credit card. Keep in mind that the cost of all these benefits is $595 per year, but you certainly get your money’s worth.


Points can be used to purchase anything through American Express’ rewards center. This includes travel purchases, statement credits, event tickets among many others. You definitely won’t have trouble finding something to redeem your points on as there’s something for everyone! Although, the most value will go to businesses who incur a lot of travel. Not only will you earn more points, you’ll also get better deals when redeeming points.


In terms of disadvantages, there are a few. First, this is a charge card which means that the balance is due in full at the end of every month. If your cash flow isn’t the greatest, paying the full balance every month can be problematic, particularly if you incur the high interest hikes by missing a payment. Second, if you don’t travel much, this card doesn’t make a lot of sense, especially when you consider the annual fee. Lastly, if you’re not into all the snazzy travel perks and prefer simplicity, you’re best going with another travel-based credit card.


In summary, the American Express Platinum card is ideal for business owners who have a high spending volume, travel a lot and have ample cash flow. If you’re none of those things, or simply want a more basic credit card, then consider one of AMEX’s other travel credit cards or another credit card issuer.

BMO CashBack Business Mastercard
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Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: Not Available
Why Apply:
Recommended Credit Score:
670 900
Average to Excellent

The main feature of the BMO CashBack Business Mastercard is the 6% cash back rate. This rate is much higher than the industry standard cash back rate, but there is a catch. The 6% cash back rate only applies to gas, office supplies, internet and cellphone payments for the first four months of ownership. Thankfully, these costs are significant for many businesses meaning you can take advantage of the lucrative cash back rate offer.


After the introductory period ends, businesses will earn 1.75% on Shell gas station purchases and 1.5% on eligible gas stations, office supply and recurring internet and cellphone payments. All other purchases earn 0.75% cash back. The card also offers purchase protection, extended warranties, rebates through the Mastercard Easy Savings program and optional employee cards.


Finally, the credit card has no annual fee so you can earn on purchases for free. BMO is one of the biggest and most reputable banks in Canada so you will have ample perks simply by being one of their clients.

American Express Business Edge™ Card
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Annual Fee: $99
Purchases Interest Rate: 20.99%
Cash Advance Interest Rate: 21.99%
Min Income Requirement: Not Available
Why Apply:
Recommended Credit Score:
740 900

Excellent redemption options

Employee Card Misuse Protection

Purchase Protection® Plan

Buyer’s Assurance® Protection Plan

Car Rental Theft & Damage Insurance


As the name of this credit card implies, this card is designed for the unique, modern needs of business owners. Card holders earn three times the points for purchases made on essential business expenditures, such as office supplies, electronics, food, drinks, transportation and gas. For all other purchases, regular points are earned. As you can see, this card ensures that business owners easily earn points where ever it is they spend.

When you get this credit card, AMEX will greet you with 67,000 bonus points when you spend $5,000 or more on the credit card within the first three months of card membership. 

All of these perks are fantastic and the cost is a reasonable $99 per year. Additional cards come with no annual fee which means that your coworkers can obtain a card free of charge while contributing to your points balance and paying for necessary business expenses. Card holders also benefit from being able to pay off their balance at any time, insurance, Front of the Line access and custom business tools. After you've earned a healthy points balance, you can redeem them for travel, dining, entertainment, retail and merchandise purchases, among many others.

The only disadvantage to this credit card is that it is not as widely accepted as Visa or Mastercard. However, this usually is not a huge disadvantage to most businesses since they typically have more than one credit card available for use on top of other payment methods.?

All in all, the American Express Business Edge credit card is an excellent choice for small business owners and entrepreneurs. Points can be earned and redeemed on a wide array of things which gives you the best of both worlds. Finally, this credit card is an optimal choice if your business is new to credit cards and you don?t want to make a big commitment just yet!

Marriott BonvoyTM Business American Express® Card
Apply Now
Annual Fee: $150
Purchases Interest Rate: 20.99%
Cash Advance Interest Rate: 21.99%
Min Income Requirement: Not Available
Why Apply:
Recommended Credit Score:
670 900
Average to Excellent

  • Welcome bonus-New Marriott Bonvoy™ American Express® Cardmembers, earn 50,000 Marriott Bonvoy™ points after you charge $1,500 in purchases to your Card in your first three months of Cardmembership.
  • Earn 5 points for every dollar in eligible Card purchases at hotels participating in Marriott Bonvoy®
  • Free hotel stays – Points can be redeemed for free nights with no blackout dates at more than 7,000 affiliated hotels. Plus, this credit card gives you a Free Night Award every year after your membership anniversary.
  • Business coverage- Employee card misuse protection
  • Loyalty rewards – Earn 6x base points per dollar at Marriott-affiliated properties when you use the card and 11x base points per dollar for being a Marriott member. This gives you 17x points per dollar or more!
  • Airline conversion – Points are transferrable to more than 40 airlines.
  • Shopping and travel protection – Get protected against travel emergencies and accidents, car rental theft and damage, flight and baggage delay, and hotel or motel burglary.
  • No foreign transaction fees – Perfect for online and overseas purchases.
  • Upgraded status – Get complimentary Silver Elite Member Status or a fast track to Gold Elite status by spending $30,000 in a calendar year.Earn 5 points for every dollar in eligible Card purchases at hotels participating in Marriott Bonvoy®

As the name implies, the rewards from this credit card come from the Marriott Bonvoy loyalty program. Card holders earn six points per dollar when they spend at Marriott hotels and four points per dollar when they spend at restaurants, gas stations, telephone services and shipping in the United States. All other purchases earn two points per dollar spent. As you can tell, Marriott Bonvoy card holders tend to incur a lot of travel expenses, especially in the US.


Card holders have the opportunity to earn a Welcome Bonus of 50,000 Marriott Bonvoy® points after you charge $1,500 in purchases to your Card in your first three months of Cardmembership.

Other perks of this credit card include a free night at one of Marriott’s hotels every year, another free hotel stay when $60,000 or more is spent on the card in a year and automatic silver elite status with a fast track opportunity to gold status. All of these benefits come with a modest annual fee of $150.


Points can be redeemed on any Marriott hotels. The fact that you can only redeem points with one hotel chain might seem limiting, but it definitely is not! Marriott has a gigantic selection of hotels that you to choose from, no matter what the nature of your trip is, you’ll find something you like. Some hotels cost more points than others, but if you want a more luxurious trip, it’s worth the splurge. During your stay at the hotel, the automatic silver elite status will give you a late checkout option, 10% bonus points based on what you spend and free wi-fi.


Last but not least, this credit card also isn’t a charge card which means you can carry the outstanding balance from month to month without serious repercussions.


Overall, the Marriott Bonvoy Business card is a fantastic choice if you’re looking to earn and redeem points towards hotel costs within your business. The points earning opportunities and other benefits are superb, particularly when you consider the relatively low annual fee of $150.

How Business Credit Cards Can Help Scale Your Enterprise

Business credit cards provide financial flexibility to help your business invest in new equipment, paving the way for expansion and growth without draining your reserves.

Moreover, the rewards or cashback from business credit cards serve as a significant source to reinvest in your business, offsetting future expenses and substantially boosting company profits.

Not to mention their role in building a business's credit profile. With a solid profile, your business can easily access loans or different forms of credit, providing additional capital for development.

 Tips to Choose Your Ideal Business Credit Cards

It's important to consider your business needs and goals when it comes to choosing a business credit card. Here are 4 tips to help you make an informed decision:

  1. Understand Your Business's Spending Habits: Before choosing a card, look at where your business spends the most money. This information will help you choose a business credit card that rewards points or cash back on the things you buy most often.
  2. Consider the Card's Features and Benefits: Each business credit card has unique features and benefits. Determine the ones most advantageous for your business. For instance, prioritize cards offering travel perks if your business involves frequent travel.
  3. Evaluate the Card's Costs: Business credit cards may incur annual fees, interest rates, and transaction charges. Assess these costs and their potential impact on your business's finances.
  4. Consider Your Business's Credit Profile: If your business has a good credit profile, you can get business credit cards with better terms. On the other hand, a secured company credit card may be needed if your business credit is weak or nonexistent.

Steps to Apply for Business Credit Cards

Applying for a business credit card follows several steps. Here's a comprehensive guide:

  1. Review Your Business's Credit Profile: Before you apply, look at your business's credit report to see what kinds of cards it might be eligible for.
  2. Choose the Right Card for Your Business: Evaluate cards based on your business requirements, choosing features and benefits that align with your needs.
  3. Gather Your Business Information: When applying, ensure you have business details like name, address, and revenue figures at hand.
  4. Apply Online or In Person: Most issuers offer online applications, while some also accept in-person submissions at financial institutions.
  5. Wait for Approval: Following submission, anticipate a processing time ranging from a few days to weeks for approval.

Ways to Manage Business Credit Cards Effectively

Effectively managing a business credit card is necessary for your business's financial health. Here are some tips:

  1. Pay Your Bill on Time: Making sure you pay your bills on time is very important if you want to avoid fees and keep your credit score high.
  2. Keep Track of Your Expenses: Use the card's expense tracking tools to keep track of your spending. Regular reviews help you spot patterns or unnecessary expenses early on, allowing you to minimize costs.
  3. Use Your Rewards Wisely: If your business credit card offers a rewards program, use your rewards wisely. Consider using your rewards to offset future expenses or invest in growth opportunities.

Potential Pitfalls of Business Credit Cards

While business credit cards offer advantages, they have potential drawbacks to consider. Here are 3 of their pitfalls:

  1. High-Interest Rates: Business credit cards commonly have high interest rates. Carrying a balance may add substantial interest, affecting your business's finances.
  2. Potential Impact on Personal Credit: If your business fails to repay its credit card debt, as the owner, you might bear personal liability, affecting your credit score.
  3. Complex Terms and Conditions: Business credit cards often have complicated terms and conditions. Understanding these thoroughly before acquisition is crucial.

Business Credit Card FAQs

1. Is a business credit card right for my business?

To pick the best business credit card for your company, you need to assess if the card suits and fits your business's financial needs and spending habits. Some business credit cards offer many benefits, but they also come with potential risks.

2. What is the difference between a business credit card and a personal credit card?

A business credit card is issued to a business, not an individual. It’s under the name of the business, and the responsibility to pay off the balance lies with the business. Additionally, these cards come with higher credit limits and features to help businesses manage expenses and grow, rather than for personal use.

3. What should I consider when choosing a business credit card?
When evaluating business credit cards, consider how your organization allocates funds, the unique attributes each card offers, the associated costs, and your business's current credit standing. By selecting a card that best suits your business's specific needs and fits within your budget, you can maximize its value and enhance overall financial performance

Author Bio

Mohamed Konate

Mohamed Konate is a personal finance expert, blogger, and marketing consultant based in Toronto. He is a former financial services professional who worked at major Canadian financial institutions for many years. He managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor's in Business Administration from the University of Quebec (Montreal) and a Master's in International Business from the University of Sherbrooke (Quebec). He is also the author of the Canadian Credit Card Guidebook.