Check out these two of the top business cards in Canada that will help you optimize the way you do business.
Key Comparisons
| RBC Avion Visa Infinite Business | American Express Business Edge™ Card | |
| Estimated Credit Score | 660 | 725 |
| Annual Fees | $175 | $99 |
| Interest Rate | 19.99% | 19.99% |
| Insurance Coverage | Yes | Yes |
| Pros | 1. Earn 1 RBC Rewards® point for every dollar you spend* and an extra 25% on eligible travel purchases. 2. Insurance coverage for credit card owners, partners, and children, including mobile devices, travel coverage, and more. 3. Pool the points you earn from your business and personal accounts to earn rewards faster. 4. You can earn 1.25 RBC Rewards points for every $1 spent in net purchases, on up to $75,000 per year using RBC Avion Visa Infinite Business card. | 1. Earn an extra 1,000 bonus points for every month you charge $3,000 or more to the card, yielding up to 12,000 extra bonus points every year for those who maximize this feature. 2. Employee Card Misuse Protection provides coverage for unauthorized charges made with a supplementary card up to $100,000 per Basic Cardmember in the event that an employee does so. 3. Earn 10x the points for every $1 spent on eligible business essentials including office supplies & electronics, rides & gas, eating & drinks within 6 months of Card Membership, up to a maximum of 10,000 points. |
| Cons | 1. $120 annual fee and with a minimum personal income of $60,000. 2. The points-to-dollars ratio is average, and there are few opportunities for accelerated earning. 3. Not the greatest rewards outside of the airline chart and transfer partners. | 1. Limited acceptance in some Canadian retailers. 2. Not a low rate credit card with a foreign transaction fee of 2.50%. 3. Missed payment interest rate – miss 2 payments within 12 months, the interest rate will increase to 23.99%, and miss 3 payments within 12 months, it will increase to 26.99%. |
Key Benefits of RBC Avion Visa Infinite Business
Welcome Bonus and High Point Value
Once approved, you will receive 25,000 Avion points. Those points are valued up to $582.5. On your first $75,000 in annual expenditure, you may earn up to 2.91% – an excellent return on investment. Lots of simple ways to save money on your next trip. The worth of your points is a significant benefit of this card. The points are worth up to 2.33 cents each according to RBC Rewards, making them some of the best value in rewards available.
Rewards and Privileges
The RBC Avion Visa Infinite Business card comes with a Priority Pass lounge membership and access to the Visa Infinite Business Concierge, who can assist you with tasks like making restaurant reservations, choosing gifts, or securing event tickets as soon as they go on sale. Additional benefits for dining out and hotel stays are available to you thanks to Visa Infinite. Finally, by connecting your card to your Petro-Points account, you can save 3/L at Petro-Canada on petrol and will earn 20% more Avion points and Petro-Points.
Insurance Coverage
The card provides 15 days of emergency medical travel insurance for travelers under the age of 65 and three days of coverage for travelers 65 and above. There is no cap on the amount of coverage. There is also trip cancellation and trip interruption insurance of up to $1,500 and $5,000 per person, respectively, as well as common carrier accident insurance of up to $500,000 per person. Cardholders are insured for up to $500 in flight delay insurance, up to $2,500 in delayed baggage, and up to $1,000 in lost or stolen baggage while flying. When making purchases, the card offers extended warranties of up to an additional year, purchase protection, which covers you against damage or theft of an item for up to 90 days after your purchase, and specialized mobile device insurance with two years of protection of up to $2,000.
Key Benefits of American Express Business Edge™ Card
Welcome Bonus
When you charge $5,000 in purchases to your Business Edge Card in the first three months of Card Membership, you can receive 45,000 Welcome Bonus points. When you charge $3,000 in purchases on your Card, you can additionally earn 1,000 Membership Rewards points per monthly billing cycle. In a year, this may accumulate up to 12,000 bonus points. In addition, within 6 months of card membership, you can earn up to 10,000 points for every $1 spent on eligible business basics such as office supplies and electronics, rides and petrol, and meals and drinks.
Earning and Point Redemption
This card allows you to earn 3x the points (up to a maximum of 75,000 points) on certain business basics such as food and beverages, rides and gas, and office supplies and electronics. On anything else, you’ll get 1x the points. As a Basic Cardholder, you may be eligible for a 5,000-point referral incentive for each friend you refer. The points you’ve accumulated can be used to partially or completely cover business expenses. Points can be redeemed for statement credits, as well as for flights, hotels, and vehicle rentals. You may also transfer your points to a variety of frequent flyer and loyalty programs, redeem them for statement credits, use them to make Amazon.ca purchases, and use them for gift cards and items.
Insurance Coverage
The Business Edge Card does include Car Rental Theft & Damage Insurance, 90-day Purchase Protection in the event of loss or damage, and Buyer’s Assurance, which automatically extends the manufacturer’s guarantee by up to one year. Both of these safeguards can be quite valuable, especially since you’re likely to buy many of your electronics through the Business Edge thanks to the 3x points you earn.