Are there business credit cards with rewards in Canada?
Yes, here are some popular options:
- American Express Business Edge Card
- BMO World Elite Business Mastercard
- RBC Avion Visa Infinite Business
- Scotiabank Passport Visa Infinite Business Card
- TD Business Travel Visa Card
Each of these cards offers unique benefits and rewards structures, so it's important to choose one that aligns with your business spending habits and financial goals.
What is a travel credit card in Canada?
A travel credit card in Canada is a type of credit card designed to offer rewards and benefits specifically geared towards travel. These cards typically provide points or miles for purchases that can be redeemed for flights, hotel stays, car rentals, and other travel-related expenses. They often come with additional perks such as travel insurance, airport lounge access, and no foreign transaction fees.
Can I get cashback on a business card?
Yes, here are some notable offers:
- American Express Business Edge Card
- BMO CashBack Business Mastercard
- Scotiabank Momentum for Business Visa
- National Bank Business Mastercard
- CIBC bizline Visa Card for Small Business
These cards provide different cashback rates and categories, so it's worth considering your business's spending patterns to choose the card that maximizes your cashback rewards.
Business loan calculations for 3 years (example)
| Amount, $ | Rate, % | Accrued %, $ |
| 500,000 | 10.60% | 81,708 |
| 500,000 | 18.65% | 143,760 |
| 500,000 | 29.65% | 228,552 |
| 1,000,000 | 11.15% | 171,896 |
| 1,000,000 | 19.15% | 295,229 |
| 1,000,000 | 30.15% | 464,813 |
| 2,500,000 | 11.65% | 449,010 |
| 2,500,000 | 19.65% | 757,344 |
| 2,500,000 | 29.65% | 1,142,760 |
| 5,000,000 | 12.65% | 975,104 |
| 5,000,000 | 20.65% | 1,591,771 |
| 5,000,000 | 29.65% | 2,285,521 |
How do I apply for a business credit?
First identify what benefits are most important to your business (e.g., cashback, travel rewards, low interest rates, etc.).Look at different business credit cards and compare their features, fees, rewards, and interest rates.
Most issuers require details about your business, such as its legal name, address, industry, and structure (e.g., sole proprietorship, partnership, corporation).Be prepared to provide information about your business's financial health, including annual revenue, expenses, and tax ID number).
Then, gather the necessary documents, like proof of your business’s legal registration, Tax Identification Number (TIN), recent bank statements, income statements, or other proof of income, government-issued ID such as a driver’s license or passport.
Most banks and credit card issuers offer online applications. Visit the issuer’s website and follow the instructions. You can also apply in person at a branch if you prefer.
Provide accurate and up-to-date information about your business. Submit the application through the chosen method (online or in-person).
Approval times vary, some applications are approved instantly, while others may take a few days to a week.The issuer may contact you for additional information or documentation.
If approved, you’ll receive your business credit card in the mail. Follow the instructions to activate your card.
See the similar FAQ at the link:
- BMO car insurance offer
- BMO money market fund
- CIBC car rental discount
- Does CIBC propose auto insurance policies?
- National Bank auto finance address
Details of companies offering the financial services:
Bank Of Montreal
Head office’s address: 119, rue Saint-Jacques Montreal, Quebec H2Y 1L6
Contact center: 877-225-5266
Phone: 416-867-5000
Web-site: http://www.bmo.com/main/personal
Swift code: BOFMCAM2
Stock code: BMO
BSB: 001
RBC Royal Bank
Head office’s address: 200 Bay St, 9th Floor South Tower, Toronto
Contact center: 800-769-2511
Web-site: http://www.rbc.com/canada.html
Swift code: ROYCCAT2
Stock code: RY
BSB: 003
TD Bank
Head office’s address: Toronto-Dominion Centre, Po Box 1 Stn Toronto Dom, Toronto
Contact center: 866-222-3456
Web-site: https://www.td.com/about-tdbfg/our-business/index.jsp
Swift code: TDOMCATTTOR
Stock code: TD
BSB: 004
Bank Of Montreal
Head office’s address: 119, rue Saint-Jacques Montreal, Quebec H2Y 1L6
Contact center: 877-225-5266
Phone: 416-867-5000
Web-site: http://www.bmo.com/main/personal
Swift code: BOFMCAM2
Stock code: BMO
BSB: 001
CIBC
Head office’s address: 199 Bay St, 44th Floor Toronto
Contact center: 800-465-2422
Web-site: https://www.cibc.com/en/personal-banking.html
Swift code: CIBCCATT
Stock code: CM
BSB: 010
RBC Royal Bank
Head office’s address: 200 Bay St, 9th Floor South Tower, Toronto
Contact center: 800-769-2511
Web-site: http://www.rbc.com/canada.html
Swift code: ROYCCAT2
Stock code: RY
BSB: 003
RBC Royal Bank
Head office’s address: 200 Bay St, 9th Floor South Tower, Toronto
Contact center: 800-769-2511
Web-site: http://www.rbc.com/canada.html
Swift code: ROYCCAT2
Stock code: RY
BSB: 003
Scotiabank
Head office’s address: Scotia Plaza, 44 King Street West Toronto
Contact center: 800-472-6842
Phone: 416-866-6430
Web-site: http://www.scotiabank.com/ca/en/0,,2,00.html
Swift code: NOSCCATT
Stock code: BNS
BSB: 002
TD Bank
Head office’s address: Toronto-Dominion Centre, Po Box 1 Stn Toronto Dom, Toronto
Contact center: 866-222-3456
Web-site: https://www.td.com/about-tdbfg/our-business/index.jsp
Swift code: TDOMCATTTOR
Stock code: TD
BSB: 004