The best business credit cards in Canada for 2023

The best business credit cards in Canada by category

The American Express Business Edge Card should be any business owners go to credit card to earn great rewards on monthly office expenses. Cardholders can earn 3 points per dollar on restaurants, gas, transit, office supplies, and electronics and 1 point per dollar on all other purchases. 

Pros

• Generous welcome offer: earn up to 67,000 welcome bonus Membership Rewards points.
• Healthy earn rate on everyday business spending
• Includes insurance from travel insurance to purchase protection
• A maximum of 99 additional employee cards can be added to the primary cardholder account, which is considerably higher than other business credit cards

The BMO CashBack Business Mastercard is our top no fee business credit card in Canada as it provides high cash back earn rates on business essentials. Earn rates include 1.75% on Shell gas stations and 1.5% on office supply purchases as well as cell phone and internet bills.

Pros:

• No annual fee or income requirement 
• Welcome offer: earn 10% cash back on gas, office supplies and cell phone/internet bills for 3 months*. Must apply by December 31st, 2023.
• A maximum of 22 additional employee cards can be added to the primary cardholder account (annual fee of $40 for every additional cardholder) 
• Automatic rebates of 1-25% when you shop at qualifying merchants with Mastercard Easy Savings
• 90 day purchase protection and extended warranty coverage for up to one additional year on any purchases made with the card
• BMO’s Liability Waiver program can safeguard against any employee card abuse

The American Express® Business Gold Rewards Card card is our top business credit card for frequent business travellers. This card features extensive travel insurance including car rental theft/damage, lost/stolen baggage, hotel burglary, flight and baggage delay, travel emergency, and $100,000 travel accident coverage. Cardholders on the road will also receive access to up to $100 USD in hotel credits, plus discounts and upgrades with participating Hertz car rental locations. 

Pros:

• Welcome offer: earn up to 110,000 bonus Membership Rewards points.
• Earn 1x the points for every dollar you spend
• Up to 55 interest-free days and access to paperless expense reports both quarterly and annually
• Flexible redemption, giving you the option to use your points for travel expenses, statement credits, Amazon.ca purchases, and more, plus the ability to transfer them 1:1 to frequent flyer programs such as Avion and Aeroplan
• 90 day purchase protection against accidental physical damage and theft with AMEX's Purchase Protection Plan
• Extended warranty coverage for up to one additional year on any purchases made with the card

Ratehub.ca's take

The American Express Aeroplan Business Reserve credit card is a premium travel credit card designed for business owners who travel frequently. With exclusive benefits and rewards, this card aims to enhance your travel experience while providing exceptional and top-of-the-line value. 

Pros

• Generous welcome bonus: earn up to 55,000 Welcome Bonus Aeroplan points.
• Anniversary bonus: earn an additional 40,000 Aeroplan points when you spend $9,000 in net purchases between month 13 and 16 of your Cardmembership.
• Accelerated earning potential with three points per dollar on eligible Air Canada purchases, two points per dollar on hotels and car rentals, and 1.25 points on all other purchases
• Premium travel benefits including access to airport lounges worldwide, priority check-in, complimentary concierge services, and travel insurance coverage
• Flexible redemption options: travel, hotel stays, car rentals, gift cards/merchandise, and more

Cons

• This card carries a high annual fee of $599 which is not suitable for business owners with infrequent travel 
• American Express credit cards are not as widely accepted as Visa or Mastercard

Ratehub.ca's take

The Loop credit card is a great option for eCommerce businesses looking to overcome the financial challenges that may come with an online marketplace. Its multi-currency capabilities and rewards program make it a valuable tool for businesses seeking to thrive globally whilst eliminating foreign transaction fees and the constraints of traditional banking services.

Pros

• Seamlessly switch between currencies, eliminating foreign transaction fees
• Up to 55 days to pay your balance without incurring any interest charges
• Earn points on various business expenses, including advertising

Cons

• This card offered limited redemption options - you are only able to redeem your points for gift cards, which can be quite limiting.