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Best Business Credit Cards in Canada (2026)

The best business credit card in Canada on this site is the CIBC Costco Business Mastercard because it has no annual fee and 3% cash back on Restaurants.

Business credit cards help separate personal and business expenses while earning rewards on common business spending categories. Many offer expense management tools, employee cards, and higher credit limits suited for business needs. For sole proprietors and small businesses, some personal cards with strong category rewards can work just as well.

Last updated October 9, 2026Source: CIBC Costco Business Mastercard issuer page

Which card earns me the most?

Enter monthly spend by category. We rank cards by estimated net annual value from the earn rates in our data.

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Key facts

Annual fee
$0
Purchase interest rate
20.99%
Cash advance rate
21.99%
Earn rates
3% cash back on Restaurants (Up to $8,000/year spend, then 1%); 3% cash back on Costco gas (Up to $8,000/year spend, then 1%); 2% cash back on Costcobusinesscentre.ca, Costco.ca, shipping, insurance, other gas, EV charging; 1% cash back on All other purchases
Welcome offer
None listed
Foreign transaction fee
2.5%
Income requirement
No minimum listed
1Top Pick
CIBC Costco Business Mastercard

CIBC

2.9
Annual Fee$0

No annual fee (Costco Business membership required)

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Do You Need a Business Credit Card?

Sole proprietors and freelancers can often use personal credit cards for business expenses—the CRA doesn't require a separate business card. However, a dedicated business card makes bookkeeping easier and can offer business-specific perks.

Incorporated businesses should use business credit cards to maintain proper separation between personal and corporate finances.

Best Cards for Small Business Spending

For small businesses, the best card depends on your biggest expense categories:

Costco wholesale shoppers: The CIBC Costco Business Mastercard earns 3% at Costco gas and restaurants, 2% at Costco.ca and shipping.

Restaurant/client entertainment: The CIBC Costco Business Mastercard earns 3% at restaurants.

General business expenses: The Tangerine Money-Back Credit Card lets you choose 2% cash back categories with no annual fee—useful when business spending fits those categories.

Employee Cards and Expense Tracking

Most business cards let you add employee cards with spending controls. This simplifies expense tracking and eliminates reimbursement paperwork. Look for:
- Ability to set individual spending limits
- Real-time transaction alerts
- Expense categorization for accounting software

Personal Cards That Work for Business

Many small business owners use personal no-fee cards for business expenses:
- Tangerine Money-Back: Choose 2% categories (can pick business-relevant categories like recurring bills)
- PC World Elite: Strong if you stock up on supplies at No Frills or Loblaws
- CIBC Costco Business Mastercard: If you already hold a Costco Business membership

How do we rank business cards?

Business cards are listed by overall score, highest first. The score is the same formula used on every card page — it is not reweighted for business spending.

Frequently asked questions

What is the best business credit card in Canada?

The best business credit card in Canada on this site is the CIBC Costco Business Mastercard because it has no annual fee and 3% cash back on Restaurants.

Do business credit cards have annual fees?

1 of the 1 business cards we list have no annual fee.

Do I need a business credit card if I'm self-employed?

Not necessarily. Sole proprietors can use personal cards for business expenses. However, a dedicated business card makes bookkeeping simpler and keeps business and personal expenses clearly separated. If you're incorporated, you should use a business card.

What's the best credit card for small business in Canada?

It depends on your spending. For Costco shoppers, the CIBC Costco Business Mastercard is excellent (3% on gas/restaurants). For general spending, the Tangerine Money-Back Credit Card (choose 2% categories, no annual fee) is a flexible no-fee option.

Can I use a personal credit card for business expenses in Canada?

Yes. The CRA allows sole proprietors to use personal cards for business expenses. You'll need to track and separate business purchases for tax purposes. Many self-employed Canadians use personal rewards cards to maximize points on business spending.

Do business credit cards affect personal credit?

It depends on the card. Many small business cards require a personal guarantee, meaning they can affect your personal credit score. Corporate cards for larger businesses may not require a personal guarantee and won't affect personal credit.

How We Rank

Business cards are listed by overall score, highest first. The score is the same formula used on every card page — it is not reweighted for business spending.

Read our full methodology →