Some of the greatest Canadian credit cards with insurance protection, extra cards for staff who can earn more, and no annual fee are available to business owners.
Key Comparisons
| BMO AIR MILES®† No-Fee Business® Mastercard®* | American Express® Air Miles®* Gold Business Card | |
| Estimated Credit Score | 660 | 660 |
| Annual Fees | N/A | N/A |
| Interest Rate | 19.99% | 19.99% |
| Insurance Coverage | Yes | Yes |
| Pros | 1. Allows cardholders to pool earned miles with personal Air Miles earned. 2. Earn 1.25 Air Miles for every $20 spent at participating Shell Locations. 3. Get 1,000 AIR MILES Bonus Miles – that’s enough for over $100 towards your purchases with AIR MILES Cash. 4. Get 1.25X the Miles for every $20 you spend at participating Shell stations. 5. Optional employee cards with liability protection, purchase protection, and extended warranty. | 1. Automatic 4 points per dollar on the two categories you spend the most each billing period on up to $150,000 in annual spending. 2. Decide whether you want to pay eligible purchases in full each month—or pay over time with interest. 3. 25% airline redemption rebate when booking through Amex Travel, up to 250,000 points back each year. 4. Earn 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership. |
| Cons | 1. A spending cap of $2,500 per monthly billing period for the boosted gas station earn rate. 2. You won’t get travel medical or other forms of travel insurance. 3. You’ll pay 19.99% in interest when you make purchases on this card and 22.99% for cash advances. | 1. Points are worth less than 1 cent each when not redeemed for award flights. 2. 4 points per dollar rate capped at $150,000 in annual spending. 3. This card does not offer any airport lounge access or elite status. |
Key Benefits of BMO AIR MILES®† No-Fee Business® Mastercard®*
Air Miles and Welcome Bonus
The BMO Air Miles No-Fee Business Mastercard might be the best option for you if you occasionally make minor business purchases and want to accrue some Air Miles along the way. All of your purchases with this card will earn you Air Miles, while Shell station sales will earn you 1.25 miles for every $20 spent. For all other purchases, one mile for every $20 spent. You will receive up to 1,000 Air Miles as a welcome bonus, and as each AIR MILE is worth 17.2 cents when used for travel, you will receive a welcome bonus of $172 just for using the card for a few purchases.
Redeem Your Rewards
Your bonus is worth $105 if you would instead like to exchange it for cash in-store. After that, every dollar you spend on business-related expenses will earn you significant Air Miles. These Air Miles can then be redeemed for a variety of worthwhile travel purchases, including flights, lodging, rental cars, and more. Alternately, you can quickly save money when you shop by redeeming your rewards in-store. Your decision is yours. You can also earn Air Miles anywhere you purchase since Costco only accepts Mastercard.
Other Benefits
Allows cardholders to combine earned miles with their own personal Air Miles. Employee cards that are optional and a liability waiver that guards against misuse by staff members. Get cash advances from more than one million ATMs worldwide or any BMO Bank of Montreal location. Purchase protection and an extended warranty are included. At Costco locations across Canada, use your card. 25-day extended grace period.
Key Benefits of American Express® Air Miles®* Gold Business Card
Extra Perks
As long as travel is paid for using your card, the American Express Air Miles Gold Business Card offers free travel accident insurance coverage, including up to $100,000 of accidental death and dismemberment insurance. This also covers coverage for additional cardholders. There is still more. Additionally, this card has no annual charge. free additional cards for employees; compatible with all Canadian Interac bank machines or ABMs with the American Express mark worldwide.
Welcome Bonus and Rewards
You get the chance to earn 150 additional Air Miles Rewards Miles right away when you spend $1,000 on the card in the first three months. An excellent kickstart to get you going. Spend $20 and receive one Air Miles Reward Mile. Spend $15 at an Air Miles sponsor site, and you’ll receive one Air Miles Reward Mile. When you spend $1,000 in the first three months, you’ll receive 150 miles as a welcome bonus. For each accepted business card recommendation, earn 50 extra miles. Add more cards for employees at no additional cost, and conveniently keep track of their spending.
Air Miles Earn Rate
Spend $15 or more at Air Miles sponsors to earn 1 mile, and spend $20 or more elsewhere to earn 1 mile. A better option is to use both your standard Air Miles Collector Card and your American Express Air Miles Gold Business Card when making purchases from participating Air Miles sponsors in Canada to earn double the number of miles. And each purchase made using any additional cards you provide to your employees (which are also free) raises your overall number of Air Miles rewards.