Running a business has become considerably easy thanks to the availability of different financial backing options and their accompanying tools, such as credit cards made particularly for business functions. When selecting a credit card for your business, it is crucial to go with an issuer who understands the specific needs of your expanding business and assists in offering a variety of flexible and powerful bonuses.
Regardless of how you run your company, the best business credit card gives you the perks that you will find most useful - whether in the form of airport lounge access for regular travelers and rental car, a low interest or cash back for those with big expenses.
Take a look at the following list explaining Canada's best business credit cards, and how each will contribute the most to your livelihood.
This credit card offers an incredible 30,000 points as kind of a welcome windfall to those who use up $5,000 within the initial 3 months of possession. This is really not a big amount when it comes business spending since the majority of them have overhead charges and other regular expenses. The munificent welcome bonus is equivalent to $300, and the best part is that it can be utilized to pay the same charges that generated the points to begin with.
Focusing strongly on the convenience needed for a seamless trip, this credit card allows holders to travel in style and comfort. One of the key benefits is the free access to airport lounges in more than 600 destinations across the world, along with the service from a personal concierge team that helps arrange pickup and delivery of packages for you on the go.
With a rate of interest ranging from 0.9% - 6.9%, RBC visa card helps those users who wish to bring definite monetary payback to their businesses. Until April of 2017, the Canadian prime rate was only 2.7%, which means charges with the RBC Visa CreditLine card ran from 3.6% to 9.6% max.
The card also offers a strong line of credit and does not give businesses a hard time for exploiting it. Moreover, it has a rewards program also. Users can use the points acquired 1 point per every $2 spent - on merchandise, gift cards, and other types of gifts from the RBC catalog to incentivize workers.
The top Canadian business credit card is not one vague option - there are numerous choices available for users with different needs. Before getting a business credit card, see which bonuses are the most applicable to the operations of your business. For instance, if you travel often, then go for a card that offers hotel stays, flier miles or airport lounge access. The decision you make will ultimately be subjective, but all of the above-mentioned credit cards make worthwhile options.
Looking for a convenient way to run your everyday business expenses? A business credit card is what you need. Every business has unique needs, and we can help you find a business credit card that caters to your business’s specific requirements. Compare & Find the Best Business Credit Cards in Canada in few simple steps below.
Balance Transfer: N/A
Cash Advance: 22.99%
Welcome BonusEarn a Welcome Bonus of 50,000 points, enough for 4 free nights at a Category 2 hotel
A business credit card and a regular credit card share a few similarities, but business credit cards can do much more than your regular credit card:
Before you decide on applying for a business credit card, consider some of the advantages below:
Get your business credit card work as hard as you do. If your business requires extensive travel, you could choose a business credit card offering travel rewards, travel insurance and discount car rental. Like most businesses, you have several fixed monthly payments to make. Use your business credit card for such expenses and collecting reward points. Small business owners can take advantage by applying for a business credit card and streamline their everyday expenses.
Here are some banks that offer a great selection of business credit cards:
Business needs are different from personal needs when we talk about customized services. A business, whether it's a small one or comparatively a larger one, always looks for convenient options for its employees. Hence, offering a proper credit card for a business is a difficult task for the credit card providers such as banks. They make this task easy by offering feature-rich packages and lower costs for various business organizations.
There are several kinds of Business Credit Cards. They are specially designed for small businesses, joint-ventures, or large corporations. Banks are offering extra privileges to the small and medium-sized enterprises nowadays. These SME offers are valid if you can show progress in your business revenue. As an owner of a small business, you will enjoy free annual fees, small credit limits, multiple user options, and a reasonable interest rate from your credit card. You can get all these features if you consistently make purchases with your card. Your employees will also enjoy special benefits and the annual fee advantages. The various packages include bonus points on you travels, gas tokens, discounts on branded products, etc. You will also get a unique support from the customer managers, which is not available in the personal accounts. They will help you to calculate your costs and future possibilities once you are eligible for their credit cards. These cards can make your business transactions easier than ever. You would be free from worries about the security of your cash and the hassles that you have to bear while making payments.
If you are the owner of a corporate business, there is a wide range of options that you can choose from. The corporate packages include larger loan benefits and credit limits. As the number of employees working in your company is greater than a small business, you will get some extra services. For instance, you will be eligible for special travel costs with first-class services in the airlines as you need to travel frequently on business occasions. You can make unlimited transactions with these credit cards. You will also get a prioritized service from their customer support section. Occasionally, banks offer their gold memberships for free to the corporate employees. Limits are withdrawn mostly because of the need of a huge rate of transactions.
Credit cards, specialized for businesses are efficient in terms of their time-saving, cost-effective features. Faster transactions ensure better business values. Security is also a major concern for the businesses. The authorization procedures and secured transaction options are provided to different businesses for confirming security and flexibility.