Best Business Credit Card Canada (2020): Best Cards for Every Small Business Need
In Canada, there is a huge range of business credit cards from a variety of providers. This means that there is probably a business credit card that is just right for your business. Here’s our guide to help you find it.

What are the Best Business Credit Cards in Canada?

The best business cards in Canada are accepted at a wide range of locations, offer high-quality customer service and have been tailored to suit the needs (and wants) of businesses. Here is a list of the very best options according to your top priority.
Best Business Credit Card Overall
Scotiabank Value Visa card

Why we like it | It was a very close call between the Scotiabank Value Visa card, the Scotiabank No-Fee Value Visa card and the Tangerine Mastercard. They’re all good options for companies that want a straightforward way to pay for purchases and build their credit recorThe reason the Scotiabank Value Visa card came out top is that the modest annual fee ($29) seems a very reasonable price to pay for the low interest-rate.If you’re certain you can pay off your bill in full every month, then the Tangerine Mastercard might be a better option as it offers 2% cashback. The benefit of this can, however, soon be eaten away if you end up carrying a balance and paying 19.95% interest on it. |
Best Business Credit Card for Travel
Scotiabank Gold American Express card

Annual fee |
$120 (plus $29 per year for supplementary cards) |
Interest rate |
19.99% (purchases) 22.99% (cash advances) |
Interest-free period on purchases |
Unknown |
Currency-conversion fees |
None |
Rewards |
Scotia reward points redeemable against a variety of options. Access to benefits offered by Scotiabank and/or American Express, including discounted access to airport lounges. Special deals on insurance. |
Why we like it |
If you travel a lot, especially internationally, then you could easily recoup the annual fee on this card by savings on foreign-currency fees. If you can pay off your card in full each month, then the interest rate can be ignored. Even if you can’t, the range of benefits could justify paying it. |
Best Business Credit Card for Hotel Rewards
American Express Gold Rewards card

Annual fee |
$150 (one additional card for free and $50 for further cards) |
Interest rate |
30% |
Interest-free period on purchases |
28-31 days |
Currency-conversion fees |
2.5% |
Rewards |
Points based rewards system plus special deals on travel-related insurance |
Why we like it |
Technically, the American Express Gold Rewards Card is a charge card rather than a credit card. This means that you are supposed to pay the balance in full every month. This means that the interest-free grace period depends on when in the month you make a transaction. The interest rate is only chargeable if you carry a balance, which you are not supposed to do. |
Best Business Credit Card for Entertaining
American Express Cobalt

Annual fee |
$120 (billed as $10 per month) |
Interest rate |
19.99% (purchases) 21.99% (cash advances) |
Interest-free period on purchases |
21-25 days |
Currency-conversion fees |
2.5% |
Rewards |
Earn points to redeem on a wide range of options plus get access to special insurance deals, mostly related to travel. |
Why we like it |
This option from American Express is a credit card, not a charge card, so you can carry a balance if necessary. The rewards system gives multiples of points for spending at certain merchants. Partners include food and beverage merchants, hence this business credit card could be a good option if you do a lot of corporate entertaining. |
Best Business Credit Card for Cashback
Tangerine Mastercard

Annual fee |
$0 |
Interest rate |
19.95% |
Interest-free period on purchases |
Unknown |
Currency-conversion fees |
2.5% |
Rewards |
Up to 2% cashback |
Why we like it |
The Tangerine Mastercard is a great all-round business credit card. The 2% cashback is a nice bonus. That said, as previously mentioned, the benefit of this can soon evaporate if you carry a balance. If you’re not sure you can pay off your balance in full each month (or at least most months), you might be better with either the Scotiabank Value Visa card or the Scotiabank No Fee Value Visa card. |
Best Business Credit Card Without an Annual Fee
Scotiabank No-Fee Value Visa card

Annual fee |
$0 |
Interest rate |
16.99% |
Interest-free period on purchases |
Unknown |
Currency-conversion fees |
2.5% |
Rewards |
25% off base rates on car rentals at participating AVIS and Budget locations in Canada and the U.S.
The Scotiabank No-Fee Value Visa card is a good option for companies that want a business credit card mainly for small purchases. If you’re not spending much on your business credit card, then you’re unlikely to get a lot of benefit from reward points and/or cashback. If you’re able to pay off your bill in full each month, then the stated interest rate is largely academic. |
Why we like it |
That said, while the interest rate on the Scotiabank No-Fee Value Visa card is noticeably higher than the interest rate on the regular Scotiabank Value Visa card, it’s still pretty reasonable compared to other business credit cards available in Canada. |
Best Business Credit Card for Everyday Bill Payments
Scotiabank Value Visa card

Annual fee |
$29 |
Interest rate |
12.99% |
Interest-free period on purchases |
Unknown |
Currency-conversion fees |
2.5% |
Rewards |
25% off base rates on car rentals at participating AVIS and Budget locations in Canada and the U.S. |
Why we like it |
The low annual fee and low interest-rate make the Scotiabank Value Visa card a great choice for companies that just want an easy way to pay their bills. |
Best Business Credit Card Without Foreign Exchange Fees
Scotiabank Passport Visa Infinite

Annual fee |
$139 (one additional card for free and $50 for further cards) |
Interest rate |
19.99% (purchases) 22.99% (cash advances) |
Interest-free period on purchases |
Unknown |
Currency-conversion fees |
None |
Rewards |
A points-based rewards system, special deals with various travel-related merchants and special offers on travel-related insurance. |
Why we like it |
This looks and feels very similar to the Scotiabank Gold American Express card. From the perspective of travel, the American Express option has the edge as you can access rewards from both Scotiabank and American Express itself. If, however, you want to make international purchases from Canada (e.g. online), then the Visa option has the edge. This is because Visa and Mastercard have wider acceptance than American Express. |
FAQs: Best Business Credit Cards in Canada
Here is a guide to what you need to know about business credit cards in Canada, what they are, what they do and how they work.
Sources:
Do I need a business credit card? A guide for small business owners
TDB01-369-BusinessChecklist_PDF_Download_(v06).pdfFees at a GlanceAmerican Express Gold Rewards Card – Secure Application
How Much Does It Cost You to Accept American Express Cards?
The 4 Major Networks: Visa vs. Mastercard vs. Discover vs. Amex