Take a look at these two business-oriented Canadian credit cards with exceptional benefits and insurance.
Key Comparisons
| Marriott Bonvoy™ Business American Express® Card | BMO AIR MILES®† World Elite®* Business Mastercard® | |
| Estimated Credit Score | 660 | 725 |
| Annual Fees | 150 | 149 |
| Interest Rate | 19.99% | 19.99% |
| Insurance Coverage | Yes | Yes |
| Pros | 1. Receive 25 percent bonus points and priority late checkout on Marriott stays as well as a dedicated elite reservation line and other benefits. 2. One free night (valued at 35,000 points or less) every year after your card renewal month. 3. 4X points per dollar for purchases in popular spending categories such as restaurants worldwide, U.S. gas stations, wireless telephone services purchased directly from U.S. service providers, and U.S. shipping purchases. 4. Access to the American Express business app, which helps you manage receipts and expenses. | 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 |
| Cons | 1. Lower points value on less expensive hotels. 2. A lot of points are needed to redeem for weekday travel. 3. Large focus on redemption for hotel-related rewards. | 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. |
Key Benefits of Marriott Bonvoy™ Business American Express® Card
Business Perks and Coverage
Its strong support supports your business demands, including those for tools and resources for company and cost management, business and travel insurance benefits and services, and the freedom to pay bills in whole or over time. Utilize your cash flow by having the choice between carrying a balance and making a complete payment each month. You may track and gain points on your Marriott Bonvoy account using Supplementary Cards, giving you the chance to maximize the points you earn while controlling employee spending. Consult with professionally experienced Small Business service representatives to learn more about Card perks or online account administration. If you terminate the Supplementary Cardmember and cancel their Card within two business days, your Card can be compensated for qualified unlawful charges. A benefit designed especially for business owners, Employee Card Misuse Protection offers coverage of up to $100,000 per Cardmember in the event that employees use their employee cards to make illicit purchases.
Insurance
When you fully charge your common carrier (airplane, train, ship, or bus) tickets to your Marriott Bonvoy Business American Express® Card, you automatically receive coverage of up to $500,00 in accidental death and dismemberment insurance. This is one of eight types of insurance that the card offers. You can additionally cover your spouse, dependent children (under 23), and any Supplementary Cardmember when you use the Card to make travel arrangements for them. Furthermore covered are the spouse and dependent children (under the age of 23) of Supplementary Cardmembers. Chubb Life Insurance Company of Canada, Toronto, Ontario, Canada, is the underwriter of travel accident insurance, which is covered under Master Policy TMH600135.
Bonus and Rewards
Hotels that are a part of the Marriott Bonvoy® program earn 6x points. 4x points are awarded for dining out at restaurants globally, buying gas in the United States, using wireless services directly from American service providers, and buying shipping from the United States. 2x points on any additional qualifying purchases. When you make a direct reservation, you can save 7% on basic guest room rates at hotels that take part in the Marriott Bonvoy program. Every year following the month of your card renewal, you will receive 1 free night. Additionally, after making transactions totaling $60K on your Card during a calendar year, you’ll receive a second Free Night Award. At hotels that take part in Marriott Bonvoy®, awards can be redeemed for one night (redemption level at or under 35,000 Marriott Bonvoy). Lastly, Enjoy Complimentary Marriott Bonvoy Gold Elite Status with your Card.
Key Benefits of BMO AIR MILES®† World Elite®* Business Mastercard®*
Insurance
The Liability Waiver program and an extended grace period are just two of the useful company protection alternatives offered by BMO. They also offer a choice of travel and purchasing insurance options. In the event that you believe another cardholder is abusing any extra BMO Air Miles Business Mastercards you may own, the Liability Waiver program provides security by absolving the customer from liability for erroneous charges. You have at least 25 days to pay your bill before interest is applied; this prolonged grace period enables a more flexible repayment schedule, which can be great for any firm with fluctuating or seasonal income.
Welcome Bonus and Annual Fee
If you spend $5,000 in the first three months of card use, you’ll receive the entire amount of the 3,000 Air Miles welcome incentive. When you use Dream Miles to book travel, you may get up to $516 in value, or $315 if you’re earning Air Miles Cash. The cost of the card is forgiven for the first year so you may test it out if you’re not sure if you’ll use it frequently enough to justify the $149 annual fee. Additionally, because there are no minimum income requirements, more Canadians can hold this card.
Air Miles
Spend $12 anywhere and receive 1 air mile to increase your bank account more fast than before. You may even use the card to combine your earned miles with your personal Air Miles rewards bank, giving you the option to store up points for an upcoming vacation or reduce your dining bills. Additionally, you will earn 4 times as many miles when you make purchases from participating Air Miles partners. Therefore, if purchasing from Air Miles partners makes up a large portion of your business spending, you will earn even more miles with this business credit card.