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Whether you're self-employed, run a small business, or work from home, having a business credit card in your wallet is an asset.

Whether you own an established business, are running a start-up, or are a sole proprietor, a business credit card can be an invaluable asset that can increase your purchasing power, protect you from employee credit card misuse and provide useful, money-saving benefits. It can also help you track and separate your personal and business expenses—which will be a huge help at tax time. Here are our top picks for the best business credit card in Canada.

The Best Business Credit Cards in Canada

CardBest ForWelcome BonusRead On
American Express Business Edge™ CardBest business credit card overallUp to 57,000 Membership Rewards® bonus points in your first year of CardmembershipRead On
BMO AIR MILES®† No-Fee Business® Mastercard®* Best small business credit card in Canada
1,000 AIR MILES Bonus MilesRead On
BMO CashBack® Business Mastercard®Best business credit card with no annual fee10% cash back on gas, office supplies, and cell phone/internet billsRead On
Business Platinum Card® from American ExpressBest business card with travel benefits 75,000 points when you charge $7,000 in purchases to your Card in your first three months of Cardmembership Read On

Best Business Credit Card in Canada

American Express Business Edge™ Card

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The American Express Business Edge™ Card is a satisfying way to get rewarded for the money you spend on business essentials. Earn 3 Membership Rewards points per $1 for purchases in an impressive array of categories: eats & drinks, rides & gas, and office supplies & electronics, up to a max of 75,000 points (which works out to up to $750). Get 1 point on all other spending charged to the card. American Express Membership Rewards points are one of the most generous and flexible reward programs in Canada and points can be redeemed for travel, merchandise, entertainment, special cardholder experiences, shopping at Amazon.ca and more. You can also transfer points to participating partners.

The welcome bonus is 45,000 points if you charge $5,000 in your first three months, but you can also earn up to 12,000 bonus points annually (each billing period that you spend $3,000). That means you can earn up to 57,000 bonus Membership Rewards® points in the first year — worth a whopping $570.

Cardholder benefits include free supplementary cards with comprehensive employee card misuse protection, as well as a suite of free business management tools. Other extras include rental car insurance, purchase protection, and extended warranty. The annual fee (not waived in the first year) is $99, but considering the points-earning potential and included perks, it’s well worth it.

The Details:

  • Annual Fee: $99
  • Income Eligibility: N/A
  • Credit Score Required: N/A
  • Welcome Offer: Up to 57,000 bonus Membership Rewards® points in the first year
  • Additional Benefits: Rewards on all spending, rental car insurance, free employee cards
  • Interest on Purchases: 19.99% | Interest on Cash Advances: 21.99%

Learn more about the American Express Business Edge™ Card.

Best Small Business Credit Card in Canada

BMO AIR MILES®† No-Fee Business® Mastercard®*

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It can be hard to find a business credit card that gives you real value without an annual fee. The BMO AIR MILES®† No-Fee Business® Mastercard®*, however, breaks the mould in the category by offering AIR MILES rewards, a solid welcome bonus worth $100, and extra perks. Cardholders earn 1 AIR MILES Reward Mile for every $20 spent on any purchase and 1.25 AIR MILES for every $20 spent at participating Shell stations. Note that there is a spending cap of $2,500 per monthly billing period for the boosted gas station earn rate. Even if you’re not travelling right now, AIR MILES can be used for all sorts of things: groceries, merchandise, tickets, and more, and the welcome bonus of up to 1,000 AIR MILES is worth $100 alone.

The card also features extras like optional employee cards with liability protection, purchase protection and extended warranty. No annual fee, rewards and respectable perks make this one of the best small business credit cards in Canada.

The Details:

  • Annual Fee: $0
  • Minimum Income Eligibility: N/A
  • Credit Score Required: N/A
  • Welcome Offer: Get 1,000 AIR MILES Bonus Miles – that’s enough for over $100 towards your purchases with AIR MILES Cash!*
  • Additional Perks: AIR MILES, extended warranty and purchase protection
  • Purchase APR: 19.99% | Cash Advance APR: 22.99%

Learn more about the BMO AIR MILES®† No-Fee Business® Mastercard®*.

Business Credit Card With No Annual Fee

BMO CashBack® Business Mastercard®

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When you have a small business, cutting costs and finding new ways to save money is a major concern. The BMO CashBack® Business Mastercard® not only has no annual fee but also has amped-up cash-back earn rates for common business expenses. You’ll enjoy 1.75% cash back at Shell stations and 1.5% on (non-Shell) gas stations, office supplies and on recurring cell phone/internet billings. You earn 0.75% cash back on all other purchases.

A rare and much-appreciated feature of this cash-back card is the flexible way cardholders can redeem their cash. You can redeem cash at any time or choose to set up automatic recurring redemptions (with a minimum amount of $25) into a BMO chequing, savings or InvestorLine account.

The welcome offer also helps make this card one of the best small business credit card Canada. Cardholders earn 10% cash back on gas stations, office supplies and recurring phone and internet bills in the first three months (up to a maximum of $150 cash back). Other benefits include optional employee cards protected by a Liability Waiver Program, as well as purchase protection and extended warranties.

The Details:

  • Annual Fee: $0
  • Income Eligibility: N/A
  • Credit Score Required: N/A
  • Welcome Offer: 10% cash back on gas, office supplies, and cell phone/internet bills
  • Additional Benefits: Cash back on all purchases, purchase protection and extended warranty, incredibly flexible redemption options
  • Interest on Purchases: 19.99% | Interest on Cash Advances: 22.99%

Learn more about the BMO CashBack® Business Mastercard®*.

Best Business Card with Travel Benefits

Business Platinum Card® from American Express

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Don’t dismiss the Business Platinum Card® from American Express simply because of its hefty $499 fee – this card has tremendous value. First of all, the earn rate is 1.25 Membership Rewards points per $1 in card purchases. So if you had $15,000 in business card purchases, that would net you 18,750 points – valued at up to $187.50. Add in the welcome bonus of 75,000 points (when you charge $7,000 in purchases to your Card in your first three months of Cardmembership) and with some spending you’ve cancelled out the first year annual fee altogether. Plus, there’s no cap on the amount of points you can earn, meaning that you can easily end up earning money with this card. Lastly, you may also be able to write off the annual fee on your taxes if you’re using this card exclusively for business.

The card also includes valuable perks that could save you money on any business travel. For instance, it features an impressive suite of travel and rental car insurance, including emergency medical up to $5 million, trip cancellation/interruption, lost/stolen baggage, hotel/motel burglary, and more. Cardholders who enroll in the Hertz membership loyalty program also enjoy discounts on rentals and free car class upgrades. The card also has some premium hotel benefits and unlimited, free airport lounge access—one of the most coveted perks for those who spend long hours in airports. You’ll also enjoy 55 interest-free days, employee card misuse protection, purchase protection and extended warranty protection.

Finally, the Business Platinum Card® from American Express comes with a suite of business management tools to make it easier to control your business cash flow. For instance, you’ll get access to paperless expense management reports that are delivered quarterly and annually. Any small business owner who has dealt with the hassle of bookkeeping knows that this added service can be a huge help at tax preparation time.

One thing to note: the Business Platinum Card® from American Express is a charge card, so it can be a good pick only if you’re sure you can completely pay off your monthly balance.

The Details:

  • Annual Fee: $499 (which may be tax-deductible)
  • Income Eligibility: N/A
  • Credit Score Required: N/A
  • Welcome Offer: Earn a Welcome Bonus of 75,000 points when you charge $7,000 in purchases to your Card in your first three months of Cardmembership
  • Additional Benefits: Incredible array of travel benefits, such as insurance, airport lounge access and rental car and hotel perks
  • Interest on Purchases: N/A

Learn more about the Business Platinum Card® from American Express.

Comparison of the Best Business Cards in Canada

Credit CardAnnual FeeWelcome BonusEarn RateMore Info
American Express Business Edge™ Card$99Up to 57,000 Membership Rewards® bonus points in your first year of Cardmembership 3X the points per $1 on eligible business expenses

 

1X the points on everything else
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BMO AIR MILES®† No-Fee Business® Mastercard®* $01,150 AIR MILES Bonus Miles1 AIR MILES Reward Mile per $20 on any purchase/ 1.25 AIR MILES for every $20 you spend at Shell stationsVisit Site
BMO CashBack® Business Mastercard®$010% cash back1.75% cash back at Shell stations and 1.5% on gas stations, office supplies and on recurring cell phone & internet billings/ 0.75% cash back on all other purchases*Visit Site
Business Platinum Card® from American Express$499 (which may be tax deductible)75,000 points when you charge $7,000 in purchases to your Card in your first three months of CardmembershipEarn 1.25 Membership Rewards points for virtually every $1 in purchasesVisit Site

The Last Word

Running a business can be financially stressful at the best of times, which is why it’s vital to choose a business card that best serves your needs. To make the right pick, weigh the importance of earning rewards versus the ease of use and cost savings of going with a no-fee card that earns you cash (the most flexible of all rewards). Boosted earn rates for categories where you spend a lot of your money is another key consideration. Also, just keep in mind that the extras you may get with a premium card, like travel insurance, are only useful if you’re going to make frequent use of them. Bells and whistles are nice, but in a business card, they are only worthwhile if they line up closely with your business interests.

This post was not sponsored. The views and opinions expressed in this review are purely my own..

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