The best business credit card in Canada depends mostly on how much the business charges each quarter and how often the owner travels. This guide compares the American Express Business Gold Rewards and Business Platinum cards, the RBC Avion Visa Business and two BMO business Mastercards on annual fees and earn rates, then works through what each returns at two spending levels. It is general education, not financial advice.
Best business credit cards in Canada at a glance
| Card | Annual fee | How it earns | Fits |
|---|---|---|---|
| Amex Business Gold Rewards | $199 | 1 Membership Rewards point per $1 on everything, plus 10,000 bonus points for each calendar quarter with $20,000 in purchases | Steady spending of $20,000+ a quarter |
| Amex Business Platinum | $799 | 1.25 Membership Rewards points per $1 on everything | Frequent business travel |
| BMO CashBack Business Mastercard | no annual fee | 1.5% on gas, office supplies, phone and internet; 0.75% on the rest | Lower spending, cash back |
| BMO Ascend World Elite Business Mastercard | $175 | 4 BMO Rewards points per $1 on gas, office supplies, phone and internet; 1.5 BMO Rewards points per $1 on the rest | Heavy gas and office spending |
| RBC Avion Visa Business | $120 | 1 Avion point per $1 in net purchases | RBC clients who want Avion points |
YieldMaple checked each issuer’s business card page on October 7, 2026: the Amex Business Gold Rewards Card costs $199 a year, the Business Platinum Card $799, the RBC Avion Visa Business $120 and the BMO Ascend World Elite Business Mastercard $175, while the BMO CashBack Business Mastercard has no annual fee. Welcome bonuses change often, so they are left out of the comparison.
Which business credit card earns the most?
At higher, steady spending the Amex Business Gold Rewards Card earns the most after its fee; at lower spending the no-fee BMO CashBack card keeps more. The example below uses two hypothetical businesses, each putting a fifth of its spending on gas, office supplies and phone and internet bills, with spending spread evenly across the year. Points are valued at the issuers’ own published figures: Amex’s up to $700 in statement credits for 70,000 points (1 cent a point), and BMO’s 150,000 BMO Rewards points = $1,000 in value.
| Card | Rewards on $50,000 a year | After annual fee | Rewards on $100,000 a year | After annual fee |
|---|---|---|---|---|
| Amex Business Gold Rewards | about $500 | about $301 | about $1,400 | about $1,201 |
| Amex Business Platinum | about $625 | about −$174 | about $1,250 | about $451 |
| BMO CashBack Business | $450 | $450 | $900 | $900 |
| BMO Ascend World Elite Business | about $667 | about $492 | about $1,333 | about $1,158 |
The Business Gold Rewards Card’s quarterly bonus is what moves it to the top: at $100,000 a year, each quarter clears the $20,000 threshold. At $50,000, no quarter does, and both BMO cards come out ahead of it after fees: the Ascend World Elite Business at about $492 and the no-fee CashBack card at $450, against about $301. The example ignores any spending caps on bonus categories in the card terms, and transferring Amex points to airline programs can be worth more or less than the statement-credit value. The RBC Avion Visa Business is left out of the dollar figures because RBC doesn’t publish a fixed cash value for Avion points; it earns 1 Avion point per $1 in net purchases.
Is the Amex Business Platinum worth $799?
For a business that flies several times a year, it can be; for one that rarely travels, the Business Gold Rewards Card returns more after fees. The Business Platinum Card costs $799 and earns 1.25 Membership Rewards points per $1 on everything. Its travel benefits, per Amex’s card page:
- Annual travel credit: $200, usable on any single travel booking of $200 or more charged to the card through American Express Travel Online.
- Airport lounges: more than 1,550 lounges at 500+ airports in 140 countries. Amex plans a limited number of complimentary Plaza Premium and Priority Pass visits each year from January 1, 2027, unless the account reaches $20,000 in eligible spend in a calendar year.
- Hotel status: Hilton Honors Gold and Marriott Bonvoy Gold Elite status.
- Foreign purchases: a 2.5% foreign currency conversion commission still applies.
Counting only the travel credit, the fee works out to $599 a year before points. In the example above, that leaves the card behind the Business Gold Rewards Card at both spending levels unless the lounge access and hotel status are used often.
What happened to the Amex Business Edge card?
It is no longer on Amex Canada’s list of business cards open to new applicants. On October 7, 2026, Amex Canada’s small business card page showed 4 cards: the Business Platinum Card, the Business Gold Rewards Card, the Marriott Bonvoy Business Card ($150 a year) and the Aeroplan Business Reserve Card ($599, rising to $799 for annual fees charged on or after January 12, 2027). Earlier versions of this guide recommended the Business Edge card; the Business Gold Rewards Card is now Amex’s mid-priced Membership Rewards business card.
BMO’s business card lineup has changed too. Its business card page now lists BMO Rewards, cash back and BMO Blue Rewards cards, and no AIR MILES business card appears.
What is the best no-fee business credit card in Canada?
Among the cards checked for this guide, the BMO CashBack Business Mastercard is the strongest no-fee option, paying 1.5% on eligible gas, office supplies and cell phone and internet bills and 0.75% on everything else. On a business putting $1,000 a month on those categories, that is $180 a year from the bonus categories alone. The BMO Blue Rewards Business Mastercard also has no annual fee, for owners who prefer points. Mastercard and Visa are accepted at more Canadian suppliers than American Express, which matters for a card meant to carry every expense.
Can sole proprietors get a business credit card?
Yes. American Express says sole proprietors, self-employed individuals and business owners may be eligible to apply, and an applicant must be a Canadian resident with a Canadian credit file, at the age of majority in your province or territory. RBC points smaller firms to its business credit cards for fewer than 10 employees and under $3 million CAD in annual revenue, with commercial cards above that. A sole proprietor’s application usually leans on personal credit history, so the owner’s own credit report matters more than the business’s age. The comparison of Canadian business bank accounts covers the account side of running a business.
Are business credit card rewards taxable?
It depends on the business structure and how the rewards are used, so there is no single answer. A corporation and a sole proprietor are treated differently, and rewards redeemed for personal use raise different questions from rewards that offset business costs. The cleanest records come from keeping all business spending on one business card and recording how points are redeemed; an accountant can then confirm the treatment for that business.
The verdict
- Amex Business Gold Rewards fits businesses that charge $20,000 or more every quarter and can pay an Amex charge card in full.
- Amex Business Platinum fits owners who travel often enough to use the $200 credit, lounges and hotel status.
- BMO CashBack Business Mastercard fits newer or smaller businesses that want cash back with no annual fee.
- BMO Ascend World Elite Business Mastercard fits businesses with heavy gas, office supply and phone spending that want a Mastercard.
- RBC Avion Visa Business fits RBC clients who already collect Avion points.
Businesses that want employee cards with spending controls rather than rewards can compare a corporate card such as Float; see the Float business credit card review.