Best Business Credit Cards in Canada for 2023
- Great welcome bonus offer
- Value-added rewards for travelers and cross-border shoppers
- Lucrative rewards system
- Rebates on flights
- Protection for travel and purchases
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!
Earn a welcome bonus of 90,000 Membership Rewards® points when you spend $10,000 in purchases within the first three months of Cardmembership. That’s $900 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.
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!
- 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.Subject to change at any time
- 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.
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