Canadian company credit cards that offer sign-up bonuses, earning benefits, and supplementary cards for staff
Key Comparisons
| BMO AIR MILES®† World Elite®* Business Mastercard®* | American Express® Aeroplan®* Business Reserve Card | |
| Estimated Credit Score | 725 | 660 |
| Annual Fees | 149 | 599 |
| Interest Rate | 19.99% | 16.99% |
| Insurance Coverage | Yes | Yes |
| Pros | 1. Earn a 15% flight discount on all AIR MILES flights in North America with no blackout periods. 2. Complimentary MasterCard Airport Experiences with access to over 850 VIP lounges. 3. Mastercard extended by a Big 5 bank and widely accepted/trusted. 4. $40 yearly annual fee rebate when you have a BMO Performance Plan bank account | 1. Earn 90,000 Aeroplan points after spending $7,000 in net purchases on your Card within the first three months. 2. Earn 10X the points on eats & drinks for the first 3 months of Card Membership (up to 20,000 points). 3. Earn 65,000 points when spending $6,000 within 3 months. 4. Unlimited free access to Maple Leaf Lounges in North America for you and a guest. |
| Cons | 1. High interest rate of 19.99% on purchases and 22.99% for balance transfers and cash advances. 2. Each supplementary card you add to the account means another $50 you’ll have to pay per year. 3. Points have low redemption value compared to other travel rewards programs. | 1. Limited to Aeroplan – You can only use your points through Aeroplan. 2. Seniors are not covered by travel insurance. 3. $599 is an excessively high annual cost. |
Key Benefits of BMO AIR MILES®† World Elite®* Business Mastercard®*
Insurance
BMO provides a variety of travel and purchase insurance options in addition to practical business protection options like the Liability Waiver program and an extended grace period. The Liability Waiver program offers security by releasing the customer from liability for improper charges in the event that you suspect another cardholder is abusing any additional BMO Air Miles Business Mastercards you may possess. The extended grace period permits a more flexible repayment schedule, which can be ideal for any business with fluctuating or seasonal income – you have at least 25 days to pay your bill before you are charged interest.
Welcome Bonus and Annual Fee
The full value of the 3,000 Air Miles welcome bonus is yours if you spend $5,000 in the first three months of card use. If you redeem your Dream Miles for flights, you may receive up to $516 in value, or $315 if you’re accumulating Air Miles Cash. If you’re unsure if you’ll use the card enough to warrant the $149 annual cost, the price is waived for the first year so you can give it a try. Furthermore, there are no minimum income criteria, making it simpler for more Canadians to carry this card.
Air Miles
Get 1 air mile for every $12 spent anywhere you buy to boost your bank account more quickly than before. The card even enables you to combine your earned miles with your individual Air Miles rewards bank, allowing you to save up points for your upcoming holiday or to cut down on your meal expenses. Additionally, when you shop at participating Air Miles partners, you’ll receive 4x as many miles. You will therefore receive even more miles with this business credit card if purchasing from Air Miles partners accounts for a sizable share of your business expenses.
Key Benefits of American Express® Aeroplan®* Business Reserve Card
Welcome Bonus and Employee Cards
After spending $6,000 in the first three months and $2,000 per month for the first twelve, you’ll receive up to 85,000 points. That’s worth up to $2,300 considering that Buddy Passes are worth $600 and Aeroplan points are worth 2 cents apiece. Want extra cards to hand out to your staff? Actually, this Amex business card gives you two options. It will cost an extra $199 a year for each card if you want to split the card’s perks. However, you can forego the perks of a no fee employee card if all you want is to earn more Aeroplan points.
Perks
When you fly on Air Canada with this card in your wallet, you can count on getting treated like royalty. Along with unrestricted access to Air Canada Maple Leaf Lounges, you will get priority boarding, check-in, and baggage handling. Not to mention, up to 8 other passengers traveling on the same reservation as you are entitled to one complimentary checked bag each. With a companion pass, you can go anywhere in the world with a friend or loved one if you spend $25,000 a year. Just keep in mind that the base price must fall between $99 and $599. The card also offers purchase security and extended warranty protection with a one-year extended warranty (in contrast to the manufacturer’s warranty assurance).
Insurance Coverage
The Card is a high-end product that has gained a lot of attention in the insurance industry. Travelers under the age of 65 are covered by emergency medical insurance for up to $5 million during the first 15 days of out-of-province travel. Baggage Delay & Loss Insurance offers a maximum of $1,000 per covered person for baggage that are delayed for longer than four hours as well as a maximum of $1,000 for lost or stolen luggage.If your flight or trip is delayed for more than four hours, you may be eligible for a $1,000 travel delay insurance policy. Up to $1,500 per insured for trip cancellation, up to $3,000 for all insureds, and up to $1,500 per insured for trip interruption, all with the same insurance itinerary.With rental collision/damage insurance, you can avoid paying the charges that your rental car company would normally charge for up to 48 days of comprehensive coverage for vehicles with an MSRP of up to $85,000. Important: As long as you charge the American Express Aeroplan Business Reserve Card for booking tax, these perks also apply to Aeroplan award flights.