Best Business Credit Cards

Your business credit card should work as hard as you do. Instead, most Canadian businesses are stuck with personal cards pretending to handle business expenses, or worse, that ancient corporate card from 1987 that earns nothing and costs everything.

Here’s what banks don’t want you to know. The gap between premium business cards and basic ones is massive. Pick wrong and you’re leaving thousands in rewards, perks, and actual cash on the table every year. Pick right and that boring operating expense becomes a profit center.

The Undisputed King: Business Platinum Card from American Express

Let’s address the $799 elephant in the room. The Business Platinum Card from American Express costs more than most people’s monthly car payment. It’s also absolutely worth it if your business can actually use what it offers.

This isn’t a rewards optimization play. It’s a business efficiency tool disguised as a credit card. The welcome bonus alone can hit 200,000 Membership Rewards points if you spend $90,000 in year one. That’s potentially $2,000+ in value, already crushing the annual fee.

But here’s what matters more. Over $800 in annual credits ($200 travel, $500 Dell, $120 wireless). Unlimited airport lounge access worldwide. No preset spending limit. Comprehensive insurance that actually pays claims. This card treats your business like a business, not a consumer with a side hustle.

Who needs this? Companies with $500,000+ annual revenue, regular international travel, and the cash flow to put serious expenses through credit cards. Tech companies, consultants, importers. If you’re flying monthly and your Dell bill makes you cry, this card turns those expenses into assets.

Who doesn’t? Local businesses, freelancers, anyone without significant travel needs. That $799 fee doesn’t care about your good intentions. It wants to be justified through usage.

The Cash Back Champion: RBC Cash Back Business Mastercard

Not every business needs lounge access and Fine Hotels perks. Some just want money back on stuff they’re buying anyway. Enter the RBC Cash Back Business Mastercard.

2% on everything up to $50,000 annually, then 1.25%. No categories to track, no points to value, no transfer partners to research. Just straight cash deposited into your business account. It’s beautifully boring.

The $0 annual fee for the first year (then $99) makes this accessible for smaller businesses. You’re earning from day one without worrying about breaking even on fees. Perfect for businesses with predictable expenses who value simplicity over optimization.

The Travel Specialist: TD Aeroplan Visa Business Card

Flying Air Canada for business? The TD Aeroplan Visa Business Card turns those flights into more flights. It’s circular logic that actually works.

1.5x Aeroplan points on Air Canada purchases, gas, and shipping. 1.25x on everything else. The points feed directly into Aeroplan, no transfers needed. If your business flies AC regularly, this creates a perpetual motion machine of points accumulation.

The $149 annual fee gets waived first year, and you get priority check-in, free first bag, and preferred pricing on award flights. It’s like having partial Air Canada status without actually flying enough to earn it.

The Flexible Player: BMO AIR MILES World Elite Business Mastercard

I know, I know. AIR MILES is dying. But the BMO AIR MILES World Elite Business Mastercard still works for specific situations.

3x miles on gas, office supplies, and cell/internet bills. These are real business expenses that add up fast. The $180 annual fee often gets waived, and you get basic business perks like purchase protection and extended warranty.

Here’s the thing. If your business already collects AIR MILES through partnerships, this amplifies that strategy. If not? Skip it. The redemption values keep getting worse, and there are better options for every business type.

The Newcomer Disruptors

Traditional banks aren’t the only game anymore. Companies like Jeeves, Float, and Keep are building business credit cards for the internet age.

Higher credit limits without personal guarantees. Multi-currency capabilities without forex fees. Real-time expense management that actually works with your accounting software. Virtual cards for every vendor. These aren’t your dad’s corporate cards.

The catch? They’re newer, less tested, and sometimes require minimum revenues traditional banks don’t. But if you’re a tech-forward business tired of explaining to RBC why you need to pay a developer in Poland, these options deserve consideration.

Small Business vs Corporate Cards

Let’s clear up the confusion. Small business cards and corporate cards aren’t the same thing.

Small business cards are personal liability cards with business features. You apply with your personal credit, you’re personally responsible for payment. The business benefits are really just enhanced rewards and expense tracking. Most Canadian “business” cards are actually small business cards.

True corporate cards require significant revenue (usually $10M+), established business credit, and shift liability to the company. Different application process, different underwriting, different world.

Unless you’re running a mid-size company or larger, you’re looking at small business cards. And that’s fine. They’re actually better for most businesses under $5M revenue.

The Math Nobody Does

Everyone obsesses over rewards rates without doing actual math. Let me fix that.

Your business spends $100,000 annually on credit cards. Here’s what different cards return:

• Basic 1% cash back: $1,000
• 1.5% average rewards card: $1,500
• 2% flat cash back: $2,000
• Optimized category spending (3-5% on major categories): $2,500-3,500

That’s a $2,500 annual difference between basic and optimized. Over five years? $12,500. From picking the right card. This isn’t rocket science, it’s third-grade multiplication.

Hidden Benefits That Matter

Everyone talks about rewards. Nobody talks about the stuff that saves your business real money.

Purchase protection saves you when that $3,000 laptop dies after 91 days. Extended warranty doubles manufacturer coverage on equipment. Trip interruption insurance saves a fortune when meetings get cancelled. Cell phone insurance covers employee devices.

These benefits can be worth thousands annually. The BMO World Elite Business Mastercard includes cell phone insurance worth up to $1,000 per claim. Drop one iPhone and the annual fee pays for itself three times over.

Foreign Transaction Fees Are Killing You

Canadian businesses pay billions in foreign transaction fees. It’s a hidden tax on international commerce.

Most Canadian business cards charge 2.5% on foreign transactions. Buy $10,000 of inventory from China? That’s $250 in pure fees. Subscribe to $500 monthly in U.S. software? $150 annually in fees.

Some cards waive these fees. The Scotiabank Passport Visa Infinite Business Card charges zero foreign transaction fees. For import/export businesses or companies with international suppliers, this alone justifies premium cards.

Employee Cards Strategy

One business card? You’re doing it wrong. Modern businesses need card strategies, not single cards.

Issue employee cards with individual limits. Track department spending separately. Set category restrictions. Get virtual cards for online subscriptions. Some issuers offer unlimited employee cards free, others charge $50+ each.

The Business Platinum from Amex offers unlimited employee cards with individual controls. TD charges for each additional card. Factor this into your decision if you have multiple employees needing cards.

The Application Game

Business credit card applications aren’t like personal ones. Banks want to see:

• Business registration (incorporation or sole proprietorship)
• Revenue history (usually 2+ years)
• Personal credit score (yes, even for business cards)
• Sometimes financial statements

Pro tip: Apply when your business checking account is flush. Banks often peek at your business banking if you have accounts with them. $50,000 sitting in checking makes you look better than $500.

Building Business Credit

Here’s what nobody tells new business owners. Business credit is separate from personal credit, but you need to build it intentionally.

Start with a basic business card, even if rewards are mediocre. Pay on time, every time. Request limit increases regularly. After 12-24 months, apply for better cards. Your business credit profile now exists and works in your favor.

Skip this step and you’ll be personally guaranteeing business expenses forever. Build properly and eventually, your business credit stands alone.

The Expense Management Revolution

Modern business cards aren’t just about rewards. They’re about intelligence.

Real-time transaction feeds to QuickBooks. Automatic receipt capture and categorization. Spending insights that actually inform decisions. Department-level budgets and controls.

Cards like Float and Jeeves built expense management first, rewards second. For growing businesses drowning in expense reports, these features matter more than an extra 0.5% cash back.

When Premium Makes Sense

The Business Platinum from Amex at $799 annually sounds insane until you run real numbers.

If your business flies quarterly, four round trips using lounge access saves $200-300. Use the Dell credit for equipment you’d buy anyway, save $500. Travel insurance prevents one cancelled trip claim, save $2,000+. The math works if you actually use the benefits.

But if your business is local, travel is rare, and Dell is just a computer company, that $799 is pure waste. Premium only makes sense when you’ll use premium benefits.

The Bottom Line Strategy

The best business credit card depends entirely on your business model, not marketing promises.

High-revenue businesses with travel needs? Business Platinum from Amex dominates despite the fee.

Steady businesses wanting simplicity? RBC Cash Back Business or similar 2% flat cards.

Air Canada loyalists? TD Aeroplan Visa Business turns necessary travel into rewards.

Startups or tech companies? Consider fintech options like Float or Jeeves for modern features.

Small local businesses? Start basic, build credit, upgrade later.

Calculate your actual spending patterns. Match them to card benefits. Ignore the marketing, focus on math. The right business credit card turns a necessary expense into a competitive advantage. The wrong one is just another bill eating into margins.

Pick based on your business reality, not your business aspirations. That fancy metal card means nothing if it’s not earning its keep.

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