Best Canadian Credit Cards for Small Business Owners

Running a small business in Canada has its challenges, and having the right tools can make a difference. One of these is a good credit card tailored to meet the specific needs of business owners. The right card can help manage cash flow, track expenses, and earn rewards or cashback on everyday purchases. The following is a look at some of the best Canadian credit cards available for small business owners.

1. American Express Business Edge Card

The American Express Business Edge Card is an excellent choice for small business owners seeking a card that will return them valuable rewards. It awards points on each dollar spent, more so on office supplies and electronics-type purchases. It also features comprehensive expense management tools, which a business can use to monitor all spending. Besides, it has a welcome bonus for new cardholders, which helps one collect points very fast.

2. BMO World Elite Business Mastercard

The BMO World Elite Business Mastercard comes as another prominent Canadian small business credit card that offers a really good rewards program to reward points for each dollar spent, redeemable for travel, gift cards, and more. Different insurance protections, such as travel and purchase protection, are provided under this card, which is very useful in case one is a frequent traveler around the world.

Additionally, BMO provides tools in expense management to make it easier to track and categorize business-related expenses. The card has no foreign transaction fee, so the most attractive features go to business owners who make purchases overseas.

3. TD Business Travel Visa Card

In this case, the best pick for your business card would be the TD Business Travel Visa Card. On this card, you again get rewards in travel on all purchases, but with higher earning capacity on travel-related expenses. That can be redeemed with the TD Travel Rewards program, so you can book flights, book your hotel, or rent a car.

It also means you have travel insurance, including trip cancellation and trip interruption coverage, which business owners who are frequent travelers will find inescapable. More than this, TD’s business tools will help you manage your finances much better and track expenses incurred during your travel.

4. RBC Avion Visa Business Card

This card is best for small business owners who value flexibility in their rewards. With the RBC Avion Visa Business Card, you earn Avion points redeemable for travel, merchandise, or even cash back. It also has expense management, spending limit setting on employee cards and much more.

This one comes with a really good welcome offer, along with some other added-value perks like purchase protection and an extended warranty. Travel insurance is included in the Avion Visa Business Card for business owners on everything from lost luggage to emergency medical bills.

5. CIBC Aventura Visa Card for Business

The CIBC Aventura Visa Card for Business comes with a full rewards program, structured to meet the business person. You can earn Aventura points on all purchases and bonus points on travel-related purchases. These can be redeemed for travel, merchandise, or other financial products like investments or paying down your business loan.

It also comes with management tools for business expenses, including the ability to track and categorize spending. These come with quite a good deal of insurance protections on the card—travel to purchase protection—which shall be of interest to most small business owners.

6. Scotiabank Passport Visa Infinite Business Card

The Scotiabank Passport Visa Infinite Business Card is a jack-of-all-trades for business owners who have a strong case for rewards travel. It has no foreign transaction fee and features a points program that lets you earn rewards on every purchase, but extra in categories such as travel.

In addition to the rewards, this card comes with travel insurance and access to airport lounges, which can be a huge advantage to business owners who travel a lot. Scotiabank also offers some tools that will help you better manage and track your business expenses so that you know where exactly your money is going.

Conclusion

One of the more critical decisions a small business owner could make is choosing a credit card that would best serve cash flow, expense management, and even bottom-line impact. The best Canadian credit cards for small business owners earn a variety of rewards, benefits, and tools to help manage finances effectively. Whether you like to rack up points toward travel, cashback, or a more broad rewards program for expense management, there’s likely a card that will work for your business. Take a little time to compare these, then decide on the best one for your business goals.

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