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Business credit cards, Business credit card reviews and credit card application details.

When business lending proves unavailable, company owners increasingly rely on business credit cards to finance their projects and operations. However, there are three important criteria to look into when choosing one product over another: interest rates, annual fees, and rewards programs on offer.

Featured with annual fees, some cards offer lucrative rewards programs, especially to clients with good credit rating. So, it might be a good idea to consider the extent you will take advantage of the offered rewards and how they can be of help to your business. Naturally, the programs vary depending on the issuing company, but rewards generally include discounts on merchandize and travel and /or cash back.

When choosing a business credit card, it is important to compare the interest rate policies of various providers, especially if the funds will be used toward financing a startup. One should opt for a credit card that has a cap on interest rate increases as these can grow very quickly. In addition, look for the beneficial features that come with the card: supplementary cards, price protection, extended guarantees, Travel Accident Insurance, and the like.

There are many competing cards on the Canadian market and if you shop around, getting the best deal might be a reach away. ScotiaGold Passport for Business VISA® Card goes with an interest rate of 19.9 percent, annual fee of $120, grace period of 21 days, minimum credit limit of $5000, and supplementary cards for a fee of $50 a card. Benefits that come with this product include free Visa checks, lost or stolen card assistance, instant access to cash advances, zero liability, Delayed and Lost Baggage Insurance, Flight Delay Insurance, Hotel/ Motel Burglary Insurance, and more. Another good product intended for business owners is offered by the National Bank of Canada. The PREMIA Business is featured in two versions: with and without rewards program. If bonus points are not what you are looking for, the product goes with an interest rate of 18.9 percent and annual fee of $45 or a reduced interest rate of 13.9 percent and fee of $60. With rewards, the credit card is featured with the same regular and reduced interest rates and respective annual fees of $105 and $120. The minimum credit limit is $5000 with both options. Bonus points can be redeemed for travel discounts, gift certificates, brand-name merchandise, as well as credit applicable to one’s account balance. When shopping with National Bank of Canada’s select partners, card holders enjoy special offers and savings. Some of these are Simply Accounting, Blue Cross, PREMIA Travel, Fairmont, Ultramar, and Protection. At Ultramar, for example, customers get a 2 percent rebate for purchases over $81 and 1.5 percent if the purchase value is between $41 and $80. For small purchases ($0 - $40), the rebate is set at 1 percent. Taking advantage of the savings offer is easy, with rebates applied to clients’ monthly account statements. This product is suited to the needs of self-employed individuals and small business owners who seek to separate their personal and businesses expenses.

NameTypeInterest RateAnnual Fee
Visa Business CardVisa19.99%$12
Visa Business Platinum Avion CardVisa19.99%$120
CIBC Aerogold VISA Card for BusinessVisa10.9%$180
TD Business Visa CardVisa19.75%$50
American Express Business Platinum CardAMEX0%$60
ScotiaGold Passport Business VISA CardVisa19.99%$120
American Express Business CardAMEX18.5%$0
National Bank MasterCard Business CardMasterCard19.9%$0
Diners Club Corporate CardDiners Club30%$25
The Home Depot Commercial Revolving CardStore24.99%$0
The Home Depot Commercial CardStore21.99%$0
American Express AIR MILES Gold Business CardAMEX17.24%$0
American Express Business Gold Rewards CardAMEX0%$180
BMO Gold AIR MILES MasterCard for BusinessMasterCard19.5%$119