Best Business Credit Cards in Canada

In the past few years, the number of people securing a business credit card in Canada has increased dramatically.  While things slowed down somewhat because of the global financial crisis of 2007 and 2008, we are starting to see numbers rise again.  Also due to the financial crisis, more and more credit card companies and banks are coming up with unique types of business cards to meet growing consumer demand.

If you are currently in the market for a business credit card in Canada but feel a little confused by so many different choices, the information provided below will help.  We did a lot of the homework for you, providing a list of some of the best business credit cards now being marketed.

•    CIBC Aerogold Visa – Whether you have a start-up, small, medium, or large company, this business credit card in Canada has quickly become very popular.  For one thing, the card is backed by Visa, which provides you with security and buying power.  One of the primary benefits is the 15,000 Aeroplan Miles received after approval.  Another benefit is the low interest at just 10.9%.  You would need excellent credit to be approved and there is a $180 annual fee but overall, this credit card is a great choice.

•    MBNA Gold MasterCard – Another popular business credit card in Canada, this one has a low interest rate of 9.99%, no annual fee, and cash advance benefits.  To qualify for this Canada credit card, you would need to have good credit but the card does come with a balance transfer option with a low rate of 1%.

•    BMO Air Miles MasterCard – One of the benefits to this business credit card in Canada is that it is designed with travel mile rewards.  Therefore, if you travel for work, you would enjoy being able to receive discounted travel.  Of course, the MasterCard is also a reputable company, so the card could be used literally at more than 30 million places around the world.  The interest rate is a little higher at 19.50% but there is no annual fee.

•    MBNA Premier Rewards – For this business credit card in Canada, regular Annual Percentage rate is at 19.99% and for balance transfers, a 1% fee would apply.  Qualification requires good credit but once approved, you would enjoy the 1% rewards on all retail purchases made with the card, as well as flexibility of spending for travel and other business related expenses.

•    Platinum Plus MasterCard – Although this credit card has a regular APR of 17.99%, during the first 10 months of being a cardholder, interest would be just 1.99%.  Then for balance transfers, the fee is low at just 1%.  With this particular credit card, you would also be able to take out cheque cash advances.

•    CIBC Aero Classic Visa – The last business credit card in Canada we suggest is by CIBC.  With this, you would earn Aeroplan Miles when using the card for everyday purchases.  In addition, the first time you make a purchase using the card, you would be offered a 2,500 Welcome Bonus.  The only downfalls are that the APR is at 19.50% and the card has a $29 annual fee.