Best Business Credit Cards With No Annual Fee In Canada For October 2025
Business credit cards that are big on benefits but low on fees.
Take a look at the best business credit cards and you’ll notice that most of them charge high annual fees. The BMO CashBack Business Mastercard is the best no-fee business card, offering excellent rewards, perks, and benefits alongside the fee savings.
If this BMO card doesn’t seem like a good fit, there are still a few others to consider, including options with low interest rates, no foreign exchange fees, and opportunities to earn points and/or cash back.
The reviews below cover all of your no fee business card options, helping you select a credit card that comes with just the right business management tools, rewards, or insurance coverage you need.
Best business credit cards with no annual fee for October 2025
Here's a summary of the best business credit cards with no annual fee.
| Category | Credit card | Current offer |
|---|---|---|
| Best no annual fee business credit card | BMO CashBack Business Mastercard |  $100 GeniusCash + 10% cash back on gas, office supplies, and recurring cell phone/internet bill payments for the first 3 months (terms) |
| Best for earning Air Miles | BMO AIR MILES No-Fee Business Mastercard | 2,000 bonus miles (terms) |
| Best for low interest | CIBC bizline Visa Card for Small Business | None |
| Best for flat-rate cash back | RBC Business Cash Back Mastercard | None |
| Best for foreign purchases | Loop Card | $100 GeniusCash + None |
| Best for contractors | Scotia Home Hardware PRO Visa Business Card | $100 GeniusCash + Up to 15,000 bonus points (terms) |
1. Best no annual fee business credit card
×1 Award winner 
GC: $100
1x Award winner Rewards:
- 1.75% cash back at Shell
- 1.5% cash back on gas, office supplies, and cellphone/internet bills
- 0.75% cash back on all other purchases
If you want cash back, the BMO CashBack Business Mastercard might be up your alley. With a generous 10% cash back rate on common office expenses for the first three months, the rewards can add up fast – especially if you authorize employees to use the account, too. The lack of an annual fee ensures you'll be maximizing your earnings.
You’ll also get at least 25 days as an extended grace period before interest starts accruing on your purchases.
Pros:
- Up to $160 welcome bonus
- 10% cash back on gas, office supplies, and recurring cell phone/internet bills for the first 3 months
- Save up to 7 cents per litre at Shell
- Extended grace period of 25 days
Cons:
- Only earns 0.75% cash back on non-category purchases
- Only includes 2 types of insurance
2. Best business credit card for earning Air Miles
Rewards:
- 1 mile per $20 spent on all purchases
- 1.25 miles per $20 spent at Shell
The BMO AIR MILES No-Fee Business Mastercard has almost everything you want from a no annual fee credit card. As an Air Miles credit card, you’ll earn some decent rewards – 1 mile per $20 spent on all purchases and bonuses for purchasing gas at Shell. Though the BMO AIR MILES No-Fee Business Mastercard lacks benefits, that’s par for the course in credit cards with no annual fee. The extended warranty and purchase protection it includes is a nice bonus.
Pros:
- 2,000 bonus Air Miles
- Flexible Air Miles redemption options
- 1.25x the miles at Shell
- Save up to 7 cents per litre at Shell
Cons:
- Only includes 2 types of insurance
- Lower rewards compared to other no fee cards
3. Best low interest business credit card
Rewards: None
If you’re shopping for a no-frills card with low interest rates, the CIBC bizline Visa Card for Small Business might fit the bill. Although there are no rewards and you’ll only get travel accident insurance, interest rates are just prime rate + 1.5%, which works out to well below the national average of 20%.
Pros:
- Low interest rates of prime + 1.5%
- No annual fee
Cons:
- No rewards on purchases
- Limited insurance included
4. Best flat-rate cash back business credit card
Rewards:
- 1% cash back on all purchases
Tracking expenses and earn rates by category can be time consuming. If you’d prefer a card with a reliable flat-earn rate, check out the RBC Business Cash Back Mastercard. You’ll earn 1% on all purchases – plus, for a limited time, you’ll get double that as a welcome bonus. The fact that there’s no annual fee is just icing on the cake.
Pros:
- Save 3 cents per litre on fuel at Petro-Canada
- No annual fee
Cons:
- Limited insurance included
- Cash back rewards limited to $650 per year
5. Best business card for foreign purchases
Rewards:
- 1 point per $1 spent on all purchases
While the Loop Card tends to have higher interest rates than most of the cards on our list, it stands out when it comes to foreign exchange fees.
If you make your payments in the same foreign currency that you made the purchase in, you won’t pay any exchange fees. The card offers this for Canadian dollars, U.S. dollars, British pounds, and Euros.
You’ll also get a generous extended grace period – up to 55 days before you’re charged interest on your purchases.
Pros:
- No foreign exchange fees on four currencies
- No annual fee
- Credit limit automatically adjusts
Cons:
- No insurance included
6. Best business credit card for contractors
Rewards:
- 1 point per $1 spent at Home Hardware
It’s a mouthful, but the Scotia Home Hardware PRO Visa Business Card is our top pick for contractors. Not only is there no annual fee, but this card also has some of the lowest interest rates on our list for purchases, balance transfers, and cash advances.
You’ll get basic insurance along with discounts and installment payment options, which might come in handy if you’re working on a big job.
Pros:
- Large welcome bonus
- No annual fee
- Discounts on purchases made with Visa SavingsEdge partners
- Discounts on car rentals
- Buy now pay later installment program available
Cons:
- No rewards on non-Home Hardware purchases
- Earn rate is average at best
What are no fee business credit cards?
No fee business credits don’t charge annual fees in order for you to use the card. While the majority of business cards do charge annual fees – and they can be steep – there are still a few high-quality options that don't.
Types of no fee business cards
No fee business credit cards typically fall into the following categories:
- Cash back cards: These give a percentage of every purchase back to you, usually in the form of a statement credit.
- Rewards cards: These cards earn points on purchases, which can later be redeemed in various ways.
- Prepaid cards: While these aren’t technically business credit cards, it can sometimes make sense for a business to purchase prepaid cards to give to its employees to use.
How to choose the right no annual fee business credit card
Business credit cards are varied for a reason – your business is unique and has different needs than those of a company down the street or across the country. Narrowing down business cards to no-fee options certainly helps, but there are a few more things to consider when picking the right card:
- Your business spending habits: Track your business spending for at least a few months to give you a good idea of what categories you spend the most on. For instance, if you find you spend the most on travel, prioritize a card that rewards you the most for those purchases.
- Your business cash flow and payment cycles: Read the fine print for potential credit cards to see if their grace periods and interest rates mesh with your company’s cash flow and payment schedules.
- The rewards and benefits you want: Pay attention to cashback rates and how you earn rewards. For instance, do you earn miles for travel or points for flexible redemption options?
- Additional card features: If a robust insurance package is important to you, read each card’s details to learn about the coverage it offers. It’s also a good idea to see if the card offers expense management tools, customer support services, or charges for additional employee cards.
- Your eligibility: Lastly, consider if you have a high enough credit score or meet income requirements to be approved for the business card of your choice.
Compare all no annual fee business credit cards
×1 Award winner GC: $100 1x Award winner How we get our rankings
To come up with our rankings, we analyze over 126 data points of data across seven different categories. Then, we run them through our algorithm to get scores out of five. Since we're after the best no fee business cards, we give extra weight to the rewards and fees. Our rewards estimates are based on a typical $2,000 monthly spend.
Learn more about our rating methodology
Pros and cons of business credit cards with no annual fee
If you’re wondering whether a business credit card makes sense for you, consider these points.
- Save on fees: Don’t underestimate the savings of not paying an annual fee. You’ll still get all the typical benefits that business credit cards include, but you can save that fee to treat your staff (or yourself!).
- Access to business credit card features: Even without the fee, you’ll receive essential benefits like employee abuse protections and extended grace periods.
- Ability to track expenses: Some cards also include expense tracking programs, so you can easily manage your business costs.
- Earn rewards on purchases: While not all business cards offer rewards, some give limited rewards on purchases, including your business expenses.
- Can issue cards for employees: You can add cardholders and monitor their spending. With some cards, you can even waive their liability if they misuse the privilege.
- Poor selection of credit cards: Unfortunately, there aren't many no annual fee business credit cards in Canada. If you want to skip the fee, you’ll have a limited selection.
- Limited perks and benefits: Since you’re not paying for the card, you’ll find that no fee business cards tend to lack perks. Most provide basic purchase protection and extended warranty, but little else.
- Personal credit score can be damaged: If you fall behind on payments or exceed your business card’s credit limit, your personal credit score could take a hit.
Is a no fee business credit card right for you?
You should consider getting a no annual fee credit card in the following scenarios:
- You want to keep business expenses separate
- You’re starting a business (or own a small business already)
- You don’t need premium perks
- You prefer not to carry a balance
- You’re trying to minimize overhead
In general, a no annual fee business credit card is a good choice for small businesses and startups. You might benefit the most from a no-fee business card if you’re not spending very much every month or still trying to build credit.
There are trade-offs to not paying an annual fee. Although it’s one fewer expense to worry about, you won’t rack up the rewards as quickly as you could with a premium card. But remember: if you’re not spending a lot, you’re probably not missing out on much.
That said, once you’ve built your credit (and your business), you might find it’s time to shell out for a paid card. If you’re earning more in rewards than the card costs per year, you’re coming out ahead and it’s a worthwhile expense.
How to apply for a no fee business credit card
Once you’ve found the business card for you, here’s how to apply:
- Read the card’s eligibility requirements: Double-check that you have the required minimum credit score or income if it’s specified in the card description.
- Gather all the required documents: Be prepared to provide contact information and details about your business, like your Canada Revenue Agency (CRA) Business Number (BN).
- Submit the application online or in person: Depending on the credit card issuer, you can submit your application online or drop it off at a local branch.
- Wait for approval: Some card issuers will notify you immediately if you’re approved, while others may take days or weeks to come to a decision and inform you.
If the bank or card issuer requires more information, they’ll reach out to specify what they need.
FAQ
Is there a business credit card without an annual fee?
Yes! We found six solid options for business credit cards that don’t have annual fees. Our top pick is the BMO AIR MILES No-Fee Business Mastercard, although you have great options through BMO, CIBC, RBC, and Scotiabank.
Is it better to get a business credit card with no annual fee?
The type of business card you get depends on your business situation. If you would benefit from a card that gets great rewards for purchases or travel, it makes sense to pay an annual fee.
Does a business credit card affect my credit score?
It depends on how the card was established. If you’re a small business owner and applied for the card yourself, it may affect your score. If you work for a company that simply gave you a card to use, it shouldn’t.
Can you open a business credit card with bad credit?
You might have trouble finding a card if you don’t have good credit. Of the business credit cards we looked at, BMO Mastercards tend to have the lowest credit score requirements, but note that this is not a hard-and-fast rule.
Editorial Disclaimer: The content here reflects the author's opinion alone. No bank, credit card issuer, rewards program, or other entity has reviewed, approved, or endorsed this content. For complete and updated product information please visit the product issuer's website. Our credit card scores and rankings are based on our Rating Methodology that takes into account 126+ features for each of 229 Canadian credit cards.
