The Servus Business Rewards Mastercard is a business credit card with low interest rates, a comprehensive insurance package, and rewards to boot. It's a well-rounded credit card that's useful for many different businesses.

Here's an analysis of the card down to its individual pros and cons, as well as how it stacks up to one of the best business credit cards in Canada.

Pros of the Servus Business Rewards Mastercard

The Servus Business Rewards Mastercard is best known for its low interest rates, but there are a couple of other nice benefits.

1. Earn rewards on purchases

The Servus Business Rewards Mastercard earns you 1 point per $1 spent on all purchases. With each point worth up to 1 cent each, it represents a return of 1% on everything you buy.

These points also don't expire, which is one less thing to worry about when running your own business.

2. Iron-clad insurance package

Having 9 types of insurance coverage is always a nice touch – especially when you get some high coverage amounts and goodies like double the average extended warranty. This protects your business purchases and gives you some coverage for business trips.

3. Low interest rates

The Servus Business Rewards Mastercard saves you money if you have a balance with its lower credit card interest rate of 16.99%. Since the average credit card interest rate in Canada is 20%, that represents a big savings – especially if you're just starting out. After all, you'll need to spend money to make money!

Cons of the Servus Business Rewards Mastercard

With rewards, insurance, and low interest rates, the Servus Business Rewards Mastercard is a good choice – but that doesn’t mean there aren’t a few drawbacks.

1. No boosted rewards on any categories

Some business credit cards offer boosted earn rates on things like office supplies, gas, or other business-oriented expenses. The Servus Business Rewards Mastercard is strictly a flat rate credit card, but we’d like to see a return higher than 1%.

2. Only available for Alberta businesses

To qualify for this credit card, you must be an Alberta resident and your business must be based in Alberta. This makes it inaccessible to a lot of Canadians.

3. Can only be applied for in person

To apply for the Servus Business Rewards Mastercard, you’ll need to visit a branch in person to complete an application. Here's the documentation you'll need to bring along:

• Declaration of the trade name filed with the Alberta Registries
• Articles of incorporation
• Notice of assessment for both personal and business (last 2 years required)
• Business financial statements
• Personal net worth statement

Comparison to another no fee business credit card

Let’s see how the Servus Business Rewards Mastercard stacks up to the BMO Ascend World Elite Business Mastercard, an award-winning business credit card with both business perks and rewards.

The BMO Ascend World Elite Business Mastercard is a clear winner here in all facets but one: the annual fee. If you're willing to pay twice the annual fee, you'll get:

• Better perks
• Faster rewards earn rates and boosted categories
• More insurance coverage types
• A balance transfer offer and comparable low interest rates on purchases

Is the Servus Business Rewards Mastercard an attractive business credit card?

With a nice insurance package, rewards, and low interest rates, the Servus Business Rewards Mastercard is a well-rounded card for a manageable annual fee.

Is it a good fit for your business? Leave a review below.

FAQ

Are there any eligibility requirements for the Servus Business Rewards Mastercard?

To apply for this card, you must be an Alberta resident with a business registered in Alberta.

Does the Servus Business Rewards Mastercard earn rewards on purchases?

Yes, the Servus Business Rewards Mastercard earns 1 point per $1 spent on all purchases. This is a nice flat earn rate that's easy to understand with points that don't expire.

What is the purchase interest rate for the Servus Business Rewards Mastercard?

Compared to Canada's average of 20%, you'll save money if you carry a balance with a lower purchase interest rate of 16.99%.