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Best business credit cards in Canada

Best business credit cards in Canada

Nate Siegel Author
Cory Santos Credit card editor

Updated May 12, 2025

Find out the best business credit cards in Canada, which offer the lowest annual fees, best sign-up bonuses, and highest earn rates on rewards or cash back.

While we adhere to strict editorial guidelines, partners on this page may provide us earnings.

Top 3 business credit cards in Canada

Getting a business credit card can accelerate your earnings. Here's how to choose the best for you and your business

The best business credit card for you will come with perks your business will use, such as access to rental cars and airport lounges for regular travellers, cash back and reward points that align with your industry's major expense areas, or policies that allow your employees spending freedom while providing you with insurance coverage. Read on to learn more.

  • Why you can trust Money.ca's best business credit card in Canada list

    +

    Money.ca rates all credit cards on a numeric scale of 1 to 5 stars, with 1 being the lowest and 5 the highest rating, respectively. Money.ca’s proprietary scoring formulas break down the confusing language, complex points, rewards and earn rates to give you the real data that caters to your needs first, not ours.

    Our partnerships have no impact on our ratings, which are solely determined by the merits of each card. To learn more about how we researched and ranked these cards, read our full credit card review methodology.

Best business card for cash back

BMO CashBack® Business Mastercard®*

10% cash back

Welcome Bonus

$369

First Year Value

$219

Annual Value

Welcome Bonus: Get 10% cash back on gas, office supplies and cellphone and internet bill payments for 3 months.† Plus, get a 0.00% introductory interest rate on Balance Transfers for 9 months with a 3% transfer fee.† Expires Dec 13, 2025

Apply Now On BMO's Secure Site

The BMO CashBack® Business Mastercard®* is one of the few business cards available that doesn’t charge an annual fee, which is all the more impressive given that its cash back rates are still competitive with business cards that charge $100+ annual fees. The card earns 1.5% cash back on office supplies, gas (1.75% at Shell*) and on recurring cell phone and internet payments*.

These enhanced cash back categories make it an ideal card for small businesses with employees that do a lot of commuting, have multiple phones on a company plan, and amass large office supply bills.

Cash back in the above spending categories is complemented with a 0.75% cash back rate for everything else*. As a $0 annual fee card its benefits beyond the solid cash back and intro offer on balance transfers are relatively scant, but it does offer a few forms of basic insurance, including zero liability for employee card abuse*.

How much cash back can your company earn?

Savvy business owners can use the BMO Business CashBack to boost rewards. We recommend prioritizing gas purchases and office supply orders on the BMO card to take advantage of the 3% cash back categories. Consolidating all software subscriptions to pay through this card is another effective strategy, which can help them earn an extra $810 annually with minimal effort.

Disclosures:

  • *Terms and conditions apply
  • BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

Best business rewards card

American Express® Business Gold Rewards Card

3.9

40,000 points*

Welcome Bonus

$417

First Year Value

$17

Annual Value

Welcome Bonus: Earn 40,000 bonus Membership Rewards® points*.

Apply Now On American Express' Secure Site

The American Express® Business Gold Rewards Card offers a rather high $199 annual fee, but it might be worthwhile, particularly if your business regularly patronizes one of Amex’s suppliers and/or if you or your employees regularly fly Air Canada.

Impressive welcome bonus

Earn 40,000 bonus Membership Rewards® points*., here's how:

  • Earn a welcome bonus of 40,000 Membership Rewards® points* after you charge $7,500 to your Card within your first 3 months of Cardmembership.*

    That’s $400 in statement credits that can be reinvested in your business.

    *Current or former Cardmembers with this Card are not eligible. Other terms apply. 

Key benefits

  • Primary card annual fee: $199 (Option to add Employee Business Gold Rewards Cards for $50 annually*)
  • Welcome offer: Earn 40,000 bonus Membership Rewards® points*. (conditions apply). 
  • Earn rates: 1 point per $1 spent
  • No pre-set spending limit: Your purchasing power grows with your business
  • Extra features: 55-day interest-free grace period; fairly comprehensive travel insurance; transfer points to Aeroplan®*

Real-world spending example

Let's take a look at a potential real-world spending example to show how useful the Gold Rewards Card can be for businesses.

Here's an example of a 15-person contracting business that spends roughly $60,000 quarterly on building materials, equipment rentals, fuel, and subcontractor payments. Here's exactly how they're using the American Express® Business Gold Rewards Card to cut costs:

Monthly spending:

Last month, the company needed $27,800 in lumber and fixtures from his supplier for a major renovation project. By charging this to his Amex Business Gold, he:

  • Earned 27,800 Membership Rewards points (worth approximately $278)
  • Gained 55 days before payment was due, helping him manage cash flow while waiting for the client's deposit
  • Triggered his quarterly spending bonus of 10,000 points (worth $100)

Fuel spending:

The company also spends $4,200 monthly fueling their trucks. In the past quarter:

  • Total fuel expenses: $12,600
  • Points earned: 12,600 (worth $126)
  • They redeemed these points for Shell gift cards, directly reducing next quarter's fuel costs

Overall savings:

These savings don't even cover the impressive statement credits with the Gold Card. All told, in the last fiscal year, this company actual savings totaled $1,983:

  • Direct statement credits: $220
  • Points value redeemed: $1,043
  • Quarterly bonus points: $400
  • Administrative time savings: $320

Talk about savings! That means the company is earning 3.3% back on every dollar spent on their Gold Card.

Disclosures:

  • Contact American Express for the most up-to-date referral bonus figures.

    American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.

Best business credit card for hotel rewards

Marriott Bonvoy® Business American Express®* Card

4.0

up to 130,000 points

Welcome Bonus

$1,484

First Year Value

$314

Annual Value

Welcome Bonus: Earn up to 130,000 Marriott Bonvoy® Points. Expires Aug 18, 2025

Apply Now On American Express' Secure Site

Travel to new heights with the Marriott Bonvoy® Business American Express®* Card. Travelling for work is made more affordable and comfortable with the Marriott Bonvoy® Business American Express®* Card.

Rewards structure

The card quickly earns Marriott Bonvoy points, which can be redeemed for overnight stays in the program’s network of 7,000+ hotels (like Sheraton, Westin, Ritz-Carlton, Marriott, St. Regis and more), or transferred to a number of frequent flyer programs (like Aeroplan, Cathay Pacific Asia Miles, Delta SkyMiles, etc.) at a 3:1 ratio.

The card’s point structure is attractive, but its perks help justify the $150 annual fee.

  • Redeem points for free nights with no blackout dates at over 7,000 of some of the world's most extraordinary hotels and resorts around the globe. Use your points for flights on some of the world's leading airlines
  • Receive an Annual Free Night Award automatically each year after your anniversary
  • Receive 15 Elite Night Credits each calendar year with your Marriott Bonvoy Business American Express Card. These can be used towards attaining the next level of Elite status in the Marriott Bonvoy program
  •  Upgrade to Gold Elite status after you charge $30,000 in net purchases to your Card each year, or when you combine 10 qualifying paid nights within one calendar year with the 15 Elite Night Credits from your card

Then, the business side of things really start to add up.

  • Leverage your cash flow with the option of carrying a balance or paying in full each month
  • Control employee expenses plus track and accumulate points on your account with Supplementary Cards, so you have an opportunity to maximize the points you earn

How much can companies save with the Bonvoy Business Amex?

Let's look at an example of a Toronto-based marketing firm with 12 employees who conduct quarterly training sessions and client meetings across Canada. Here's how they leverage their Marriott Bonvoy Business American Express Card:

For their quarterly three-day team training, they book 6 rooms at a mid-tier hotel in Toronto:

  • Before the card: $229/night × 6 rooms × 3 nights = $4,122
  • With 7% room discount: $213/night × 6 rooms × 3 nights = $3,834

That's an immediate savings of $288 per training session ($1,152 annually)

Disclosures:

  • Contact American Express for the most up-to-date referral bonus figures.

    American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.

Best premium travel card for businesses

American Express® Aeroplan®* Business Reserve Card

4.2

up to 140,000 points

Welcome Bonus

$3,725

First Year Value

$25

Annual Value

Welcome Bonus: Earn up to 140,000 Aeroplan®* points. Expires Aug 18, 2025

Apply Now On American Express' Secure Site

The American Express® Aeroplan®* Business Reserve Card is the newest business card of the Amex lineup and comes with a lucrative welcome bonus: Earn up to 140,000 Aeroplan®* points. Here's how:

  • New American Express® Aeroplan®* Business Reserve Cardmembers can earn up to 140,000 Aeroplan®* points

    • Earn 65,000 points after you spend $10,500 on your Card in your first 3 months of Cardmembership 

    • Earn an additional 45,000 points after you spend a total of $75,000 on your Card in your first 12 months of Cardmembership

    • Plus, earn 30,000 points when you make a purchase between 15 and 17 months of Cardmembership

    That’s up to $3,700 or more in value when you combine your bonus points and card benefits!

    Offer ends August 18, 2025. Terms and Conditions Apply.

Rewards structure

The card particularly rewards those that travel frequently. Earn 3 Aeroplan points on eligible Air Canada purchases*, 2 Aeroplan points on eligible hotels and car rentals and 1.25 Aeroplan points on everything else. Plus, as an Aeroplan member, you can double dip with Aeroplan partners.

Real-world travel savings

Let's look at a real-world example of how the American Express® Aeroplan®* Business Reserve Card can save a company money by leveraging the card to create a premium travel experience while maximizing rewards.

Last quarter, the firm's travel expenses turned into a points goldmine:

  • $78,000 on Air Canada flights = 234,000 Aeroplan points (at 3 points per $1)
  • $42,000 on hotel bookings = 84,000 Aeroplan points (at 2 points per $1)
  • $27,000 on car rentals = 54,000 Aeroplan points (at 2 points per $1)
  • $35,000 on other business expenses = 43,750 Aeroplan points (at 1.25 points per $1)

Total points earned in one quarter: 415,750 Aeroplan points

This represents approximately $8,300 in travel value that can be reinvested into the business or used to upgrade employee travel experiences. 

And that doesn't even account for the savings that come from the impressive premium travel perks and Aeroplan features with the card. Additional perks include Air Canada travel benefits such as priority airport services, a free first checked bag, and more. You can also benefit from an Annual Worldwide Companion Pass when you make at least $25,000 in net purchases prior to your card anniversary date.

Disclosures:

  • Contact American Express for the most up-to-date referral bonus figures.

    American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.

Tips for finding the perfect business card for your company's needs

Finding the right credit card for your business doesn't have to be a daunting task. Here are some helpful tips for finding your ideal business credit card:

  • Match spending to bonus categories: Analyze your business expenses and choose a card that rewards your highest spending categories. If you're constantly on the road, a travel rewards card might be your best bet. Heavy on office supplies? Look for cards with bonus points in that category.
  • Carefully weigh rewards vs. annual fees: A card with a $120 annual fee that earns you $500 in rewards is a better deal than a no-fee card with minimal perks. But remember, only if you're actually using those rewards.
  • Don't overlook insurance: Many Canadian business cards offer robust insurance packages. From travel medical to purchase protection, these can save your business thousands in the long run.

How do business cards differ from other credit cards?

Business credit cards have higher limits that can give your business extra capital when it comes time to invest in company resources.

And having a higher credit limit means it's likely you’ll be using a lower portion of your total available credit each month, which can improve your credit score.

Many business cards don’t have a spending limit, but be aware that these cards do tend to come with high annual fees.

Some business credit cards offer rewards very different from consumer credit cards, such as discounts on everyday office items like printer paper and ink, or internet services.

Those sorts of perks can be very useful if your company spends heavily on office supplies.

Other business cards offer excellent rewards if you're entrepreneur who spends heavily on travel, such as hotel room upgrades or access to private airport lounges.

Card issuers understand that income flow can be inconsistent, especially when your business is just getting started. That’s why many business credit cards offer customized payment options.

For example, during slow months you might be able to postpone payments without facing penalties.

Some business cards offer extended payment plans with special terms for financing a large purchase like new office equipment or a new delivery vehicle.

When you apply for a business card, the issuer will review your business' credit history as well as your own.

Your personal credit score matters. So check your credit reports from the three major consumer credit bureaus — Equifax, Experian and TransUnion — and make sure they look OK.

Then, have a peek at the information that commercial credit bureaus like Dun & Bradstreet have on file about your company.

In the event of any minor issues, the credit card company might feel reassured if your business insurance policies and licenses are up to date.

How we selected the top business credit cards in Canada

Each card featured on this page was selected based on the following criteria:

  • Rewards/cash back: Does the card offer a substantial number of rewards points or a high cash back percentage in categories where businesses typically rack up expenses?
  • Annual fee: A card’s annual fee should be commensurate with the value it offers. For each card featured on this page we calculated the estimated annual rewards or cash back amounts it’s projected to earn based on a small business owner’s hypothetical annual expenditures. Estimated annual rewards values must easily outpace a card’s annual fee to merit inclusion. Free or low-cost supplementary cards also provide extra value for a business.
  • Welcome offer: A card should compete for your new patronage by offering a one-time sign-up bonus of considerable value, either in the form of a big bundle of points or an enhanced cash back rate for a limited period of time.
  • Extra perks: Does the card offer special features that make doing business easier or more comfortable, e.g. airport lounge access for some R&R between long flights? Rental car insurance for when you’re doing business out of town? A low interest rate to help you save money when you need to carry a balance from one month to the next?

Who can qualify for business credit cards in Canada?

Though application requirements may vary slightly from one card issuer to the next, businesses of all sizes, from sole proprietorships to large corporations, in all industries, are eligible for business credit cards in Canada. That said, some card issuers may offer separate sets of cards for lower-revenue small businesses and higher-revenue corporations. 

Most Canadian card issuers do require documentation proving that you have a registered business, though the documents and data you’ll need to submit to the card issuer will of course vary depending on your business classification/entity type. Small business owners, like sole proprietors, might undergo a hard credit check when applying for a business credit card, and those with poor credit scores may have a hard time being approved.

Does a business credit card impact your personal credit?

Most business credit cards require you to sign a personal guarantee when applying. That means if your company misses payments, you could be held personally liable, and your credit score could take a hit.

But not all credit card companies report to both consumer and commercial credit bureaus.

While Capital One and American Express report business activity to both types of credit agencies, Chase reports only to the commercial credit bureaus in most cases.

Weigh these pros and cons and ask yourself if you'd get the most out of a business credit card. You may decide it makes more sense to opt for a personal credit card instead.

Business credit card pros and cons

Pros
  • Cash flow management: Business credit cards provide revolving credit, giving you purchasing power and allowing you to extend that purchasing power to your employees.
  • Business/personal differentiation: Keeping business expenses in one account conveniently separates them from personal expenses, which makes budgeting, bookkeeping, and tax prep less of a headache.
  • Setting limits: You may be able to establish maximum credit limits for your cards, either for the entire account as a whole or on individual cards.
  • Earning back: Accumulate rewards points or cash back for high volume expense categories, like office supplies, gas, or air travel.
  • Other goodies: Take advantage of business-friendly features, like car rental insurance or airport lounge access.
Cons
  • Greater expense: Interest rates may be higher than other forms of business financing for large purchases (like a line of credit or a business loan), and there are relatively few business cards with no or low annual fee.
  • Credit checks: Your personal credit score may be a factor in whether or not your application is accepted.
  • Limited selection: There are less business cards in the market than personal credit cards, and it may be difficult to find a business credit card with cash back or rewards categories that exactly match your business’s biggest spending categories.
  • Longer setup: Application process may be slightly more involved and document-heavy than applying for a personal credit card.

Changes to credit card fees for small businesses

Starting October 19, 2024, small businesses in Canada will see lower credit card fees. Those with up to $300,000 in annual Visa sales or $175,000 in Mastercard sales will benefit from a 0.95% average interchange rate for in-store purchases and a 0.1% cut in e-commerce fees—saving many businesses around 27%. The CFIB is pushing to make sure payment companies pass on these savings to merchants.

Summary of best business card picks

Card Name Business Rewards Get Started
BMO CashBack® Business Mastercard®* ◦ $0 annual fee
◦0
◦ Earn 0.75% cash back on all other purchases 		Apply Now
American Express® Business Gold Rewards Card ◦ $199 annual fee (Option to add Employee Business Gold Rewards Cards for $50 annually*) annual fee
◦ 10,000 bonus points in each calendar quarter when you spend $20,000 or more.
◦ Earn 1 Membership Rewards point on all purchases
Apply Now
Marriott Bonvoy® Business American Express®* Card ◦ $150 annual fee (Supplementary Cards have an annual fee of $50 each*) annual fee
◦ Earn 5 Bonvoy points on eligible purchases at participating Marriott Bonvoy hotels
◦3 Bonvoy points on eligible gas, dining and travel
◦ Earn 2 Bonvoy points on everything else
◦ Accelerated rate welcome offer
Apply Now
American Express® Aeroplan®* Business Reserve Card ◦ $599 annual fee
◦ Earn 3 Aeroplan points on eligible Air Canada purchases*
◦ Earn 2 Aeroplan points on eligible hotels and car rentals
◦ Earn 1.25 Aeroplan points on everything else
Apply Now

Should I apply for a business credit card in Canada?

Aside from credit cards, there are a number of ways a business can elect to make its purchases: Debit cards, lines of credit, loans, cash, etc. But most small businesses are advised to have at least one business credit card at their disposal, if only for financing emergency expenses during occasional periods when business is slow or accounts receivable are stacking up.

Remember: Getting the right business credit card can help keep your expenses in check and boost your bottom line; getting the wrong card can just create an unnecessary security liability or another annual fee to puff up your overhead costs. Rather than signing up for whatever card your bank pushes on you, spend a little bit of time reviewing other options and thinking through which credit card is actually suited to your field. 

Business credit cards are designed to give your budget a break. They feature generous cash-back programs, travel discounts and flexible payment options. Here's what to consider if you're looking for a business credit card.

FAQs about Canadian business cards

  • Can I use a personal credit card for business expenses?

    +

    Technically, yes, you can use a personal credit card for business expenses. That said, using the same credit card to pay for both personal and business expenses can lead to major bookkeeping and tax prep headaches. If you do elect to use a ‘personal’ credit card for your business it’s recommended that you at least dedicate that card specifically to your business expenses, while maintaining a separate credit card for your personal expenses.

  • What credit score is needed for a business credit card in Canada?

    +

    Applicants for a business credit card will typically need at least an average credit score (around 660+) to be approved; higher scores open a wider range of available business cards and increase your chances of approval.

  • How do I get my first business credit card?

    +

    Start by checking your personal credit score to determine which business credit cards you’ll qualify for. Then review the features of the cards listed on this page and consider which are most rewarding for your business’s spending patterns and needs. After deciding which card is most suitable, click the ‘Apply Now’ button and fill out some basic info about yourself and your business to complete the application process.

  • What is the easiest business credit card to be approved for?

    +

    Generally speaking, business credit cards with a low annual fee (or no annual fee) and a more modest credit score requirement will be easier to be approved for than cards with a higher annual fee and a higher credit score requirement. BMO, for example, offers business credit cards that are more accessible than the business cards offered by most other issuers.

Nate Siegel Author

Nathan Siegel has a professional and educational passion for finance, and is a long-time writer for GreedyRates. He follows trends in the Canadian banking sector, compares competing products, and pours over fine print to make personal finance choices easier for Canadian consumers. In his spare time he loves running, swimming, and dogs of all kinds.

Cory Santos Credit card editor

Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.

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†Terms and Conditions apply.