Best Cash Back Business Credit Card in Canada for 2026
Maximize cash back for your business purchases
As a business owner, you want your purchases to work for you. Fortunately, the BMO Ascend World Elite Business Mastercard is the best cash back business credit card in the country, with the Scotia Momentum for Business VISA card and Scotiabank Passport Visa Infinite Business Card following close behind.
If you're looking for a no-fee cash back business credit card, our top choice is the Venn Corporate Card.
| Credit card | Annual fee | Welcome bonus | Cash back for business purchases | Average earn rate | Rewards |
|---|---|---|---|---|---|
| BMO Ascend World Elite Business Mastercard | $149 | Up to 70,000 100,000 bonus points (terms) | 4 points per $1 spent on office supplies, cell/internet bills | 1.26% | * 4 points per $1 on gas, office supplies, and cell phone/internet bills * 1.5 points per $1 spent on all other purchases |
| Scotia Momentum for Business VISA card | $79 | None | 3% cash back on office supplies and recurring bills | 1.65% | * 3% cash back on gas, restaurants, office supplies, and recurring bills * 1% cash back on all purchases |
| Scotiabank Passport Visa Infinite Business Card | $199 | Up to 40,000 bonus points (terms) | 1.5 points per $1 spent | 1.5% | * 1.5 points per $1 spent |
| Venn Corporate Card | $0 | None | 1% cash back | 1% | * 1% cash back on all purchases |
The cards that made our list offered the highest cash back reward rates for business purchases, but we also considered the cards' Genius Ratings. These gave us an unbiased list of some of the best credit cards for business purposes.
This guide will walk you through the 3 best cash back business cards and help you narrow down the right card for you based on factors like annual fees, interest rates, insurance coverage, and travel perks.
Key Takeaways
- The best cash back business credit card in Canada is the BMO Ascend World Elite Business Mastercard, followed by the Scotia Momentum for Business VISA card.
- Cash back business credit cards provide steady returns on common business expenses and recurring bills, but perks and insurance coverage vary considerably.
- The best cash back business credit card for you depends on your business needs, spending habits, and travel habits.
Best cash back business credit cards in Canada
Our Gold award for the #1 cash back business credit card in Canada goes to the BMO Ascend World Elite Business Mastercard for its premium insurance and high cash back rates.
Our Silver award goes to the Scotia Momentum for Business VISA card for its low annual fee and promotional balance transfer offer.
And our Bronze award goes to Scotiabank Passport Visa Infinite Business Card for its Visa Infinite perks, like airport lounge access, and no foreign exchange fee.
Although the top 3 cards on our list charge annual fees, we give an honourable mention to the Venn Corporate Card. This no-fee cash back business card earns a steady 1% back on all purchases and includes free virtual cards for all employees. Plus, if you make purchases abroad, you'll only be charged a 0.25% foreign exchange fee.
The #1 cash back business credit card in Canada: BMO Ascend World Elite Business Mastercard
Our top pick for cash back business cards, the BMO Ascend World Elite Business Mastercard, isn't strictly a cash back card – you have other redemption options (like getting BMO investments), but it does earn you valuable BMO Rewards points.
Business owners will love the extensive insurance package and impressively high earn rates. The card also comes with a hefty welcome bonus, and the first year's annual fee is waived. You'll likely find that the perks and benefits of this card more than offset the annual fee going forward.
The #2 cash back business credit card in Canada: Scotia Momentum for Business VISA card
×1 Award winner 
Although you won't get Visa Infinite Benefits, the Scotia Momentum for Business VISA card gives you up to 3% cash back on popular business expenses: gas, office supplies, and recurring bills. Sure, there's a modest annual fee, but the card also lets you transfer balances at a temporary low rate of 2.99%.
It's a streamlined business card with few bells and whistles, making it easy to use. And if you want to add employee cards, they'll only cost you $29 each.
The #3 cash back business credit card in Canada: Scotiabank Passport Visa Infinite Business Card
Our bronze winner, the Scotiabank Passport Visa Infinite Business Card, has the highest annual fee of any cash back business cards on our list, but it also includes the most premium perks. Cardholders can take advantage of no foreign transaction fees when travelling abroad, 6 free Visa Airport Companion lounge visits every year, and almost a dozen types of valuable insurance coverage (including rare emergency medical over 65 coverage).
The card also gives useful business tools, like Visa Business Reporting, along with Visa Infinite Benefits. Access to exclusive hotel and dining opportunities can make any business trip that much better.
The best no-fee business card for cash back: Venn Corporate Card
We'll round out our list with an honourable mention, going to the Venn Corporate Card. This no-fee option is a steady earner. You'll get 1% cash back on all purchases, not just those for your business. And, if you travel abroad, your purchases are charged a 0.25% foreign exchange fee – significantly lower than the standard 2.5%.
This prepaid corporate card is a great option for businesses that might not qualify for a premium unsecured card, or those that simply want a straightforward cash back card for tracking business expenses.
Compare all cash back business cards by Genius Rating
Genius Rating is a data-driven ranking based on our expansive credit card database and algorithm. See how the top cash back credit cards for businesses stack up by Genius Rating, reward value, and more:
Awards are given out once a year but rating and rankings can shift throughout the year. The #1 card for 2026 is pinned to the top.
The Genius Rating methodology
We analyzed over 126 features in 7 categories. Then, we ran these features through our algorithm, which gave these cards a rating out of 5.
Here's how we weighted the factors to find the best cash back business cards:
- Rewards (54%)
- Fees (13%)
- Insurance (11%)
- Perks (11%)
- Interest (5%)
- Acceptance (3%)
- Approval (3%)
Learn more about our Genius Rating methodology
How to choose the right cash back business credit card
Your business needs are unique, so the best cash back business card for you might be different than the best one for a neighbouring business. Because of this, you'll want to consider your business's spending habits and rewards that might be the most valuable. You'll also want to pay attention to each of the following factors.
Rewards
The best cash back business cards all offer cash back statement credits as a rewards option, but a few also give flexible reward opportunities. This allows you to customize how you get your rewards, which is great for tailoring them to your business's changing needs.
| Credit card | Rewards program | Rewards | Redemption options | Average rate of return |
|---|---|---|---|---|
| BMO Ascend World Elite Business Mastercard | BMO Rewards | * 4 points per $1 on gas, office supplies, and cell phone/internet bills * 1.5 points per $1 spent on all other purchases | * Travel * Investments * Experiences * Gift cards * Merchandise | 1.26% |
| Scotia Momentum for Business VISA card | None | * 3% cash back on gas, restaurants, office supplies, and recurring bills * 1% cash back on all purchases | * Cash back | 1.65% |
| Scotiabank Passport Visa Infinite Business Card | Scene+ Points Program | * 1.5 points per $1 spent | * Cineplex and Sobeys * Dining out * Travel with Expedia * Statement credits * Apple and Best Buy merchandise * Gift cards | 1.5% |
| Venn Corporate Card | None | * 1% cash back on all purchases | * Cash back statement credit | 1% |
Fees
Determine how much you're willing to pay, if any, for a business credit card and learn about the card's interest rates. If your business doesn't make frequent or large purchases, you might not be willing to pay a hefty annual fee, as the rewards you earn won't offset the cost. On the other hand, if you regularly travel out of Canada, you might want a card that has a low or no foreign transaction fee.
The BMO Ascend World Elite Business Mastercard and Scotiabank Passport Visa Infinite Business Card have higher annual fees, but more rewards, while the Scotia Momentum for Business VISA card has a more modest annual fee, but less perks to take advantage of. It's up to you to decide on which tradeoff is more valuable to you.
Insurance
Credit cards can include a mix of purchase protection, which can come in handy when buying products for your business, and travel coverage. Again, this can be valuable if you're travelling for work.
Our top cash back business credit card, the BMO Ascend World Elite Business Mastercard, has a whopping 13 types of insurance included, many of which are related to travel – which makes it perfect for a business that requires a lot of moving around.
Our #2 pick includes some emergency medical and rental car coverage, in addition to purchase protection, while the more premium Scotia card gives an insurance package to rival the BMO card's.
Our honourable mention doesn't include any coverage.
Perks
Business credit cards are quite varied when it comes to the perks they may or may not include. Basic business cards might not come with any, while premium cards can give you concierge service, discounts on travel, exclusive offers for experiences, free airport lounge access, and much more. Take a moment to think about what you need from your business card.
If you need to make large purchases, learn about a card's credit limit, which can help free up cash flow. And, find out if there are specific business management tools you want. For instance, you might want a card with expense tracking tools.
Those who travel a lot for work might want airport lounge access and concierge service. The Scotiabank Passport Visa Infinite Business Card, for example, offers 6 free lounge passes with a complimentary Visa Airport Companion membership.
Just be aware that the more perks a card has, the higher the annual fee is likely to be.
Interest rates
Think about how you plan on using your business card. If you might carry a balance, look for a card with a low purchase rate. If you're moving debt to the card, you might want a card with a lower balance transfer rate or promotion.
| Credit card | Purchase rate | Cash advance | Balance transfer |
|---|---|---|---|
| BMO Ascend World Elite Business Mastercard | 18.99% | 23.99% | 23.99% |
| Scotia Momentum for Business VISA card | 19.99% | 22.99% | 22.99% |
| Scotiabank Passport Visa Infinite Business Card | 19.99% | 22.99% | 22.99% |
Since our honourable mention is a prepaid card, there are no interest rates to worry about.
Acceptance
You should always think about whether or not a credit card will be accepted by retailers at home and abroad, especially if you travel frequently for business.
Since all of our picks are Mastercard or Visa, you shouldn't have any trouble with retailers accepting your choice of business credit card.
Approval
Some cards require a specific amount of personal or household annual income, even though the card isn't for personal use. Take a look at each card's income and credit score requirements before you apply.
| Credit card | Credit score requirement | Income requirement |
|---|---|---|
| BMO Ascend World Elite Business Mastercard | 760 - 900 | $80,000 personal per year or $150,000 household per year |
| Scotia Momentum for Business VISA card | 660 - 724 | None |
| Scotiabank Passport Visa Infinite Business Card | 660 - 724 | $60,000 personal per year or $100,000 household per year |
| Venn Corporate Card | 560 - 659 | None |
Pros and cons of cash back business credit cards
If you're still on the fence about getting a cash back business credit card, consider these benefits and downsides:
- Easy to use rewards: Cash back credit cards are one of the simplest reward cards. You simply use the card and get money back that you can use for whatever you like.
- Easier expense tracking: Having dedicated business credit cards can make it easier to track purchases – especially if you've authorized employees to make purchases. Plus, you don't have to worry about employee expense claims.
- Employee abuse protection: If your authorized employees make unauthorized purchases, you won't be liable for the expenses.
- Rewards can be taxable: The money you get back from the card can be counted when you file income taxes. If so, the tax can eat into the rewards you earned.
- There aren't many card options: In terms of pure cash back credit cards, there aren't many options. It's a big reason why you'll find rewards cards with flexible redemption options on our list of the best cash back business credit cards.
Are cash back business credit cards worth it?
Cash back business credit cards are very useful for small businesses. Given that you typically shouldn't use a personal credit card for your business expenses, having a dedicated business credit card makes dealing with and tracking your business's finances much easier. Getting cash back on business purchases that you were already going to make is just another sweet bonus!
These credit cards are ideal for leaner startups where the main concern is earning back as much cash as possible. For businesses that necessitate a lot of employee or sales team traveling, travel rewards business credit cards will likely get you a higher return on your spending.
How to qualify for a business credit card
To get a business credit card, you need to operate a registered business. When applying for a card, you'll have to provide business details like your company name, address, and income. You'll also need to decide whether you'd like to authorize employees to have access to the business line of credit.
Note that some business credit cards have specific requirements, like a minimum income threshold or residency in a particular province.
FAQ
Can you get cash back on a business card?
Yes, our top pick for cash back business cards is the BMO Ascend World Elite Business Mastercard, which earns you up to 4 points per $1 spent on gas, office supplies, and recurring internet and cell phone bills – these points can be redeemed for travel, cash back, or a few other options. All other purchases earn 1.5 points per $1.
Is it hard to get a business credit card in Canada?
It's not difficult to get a business card. Most cards require you to show proof of residency. You'll also have to show proof that you're the owner of a registered business, and you might need to provide proof of income.
Which bank has the best business credit card?
BMO offers the top business credit card on our list, while Scotiabank issues the other 2 cash back cards in our top 3. You can also check out National Bank, RBC, and CIBC – all of which have great business credit card options for you.
Do any business credit cards pay 5% cash back?
Unfortunately, no Canadian business credit cards offer a 5% earn rate. However, the BMO Ascend World Elite Business Mastercard gives you 4 points per $1 spent on gas, office supplies, and cell phone/internet bills.
Is there a downside to cash back credit cards?
Downsides to cash back credit cards include higher interest rates and higher annual fees for many of the top cards. Some cash back credit cards have limited redemption options or only pay out once a year.
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 231 Canadian credit cards.
