Author: Dana Krook

If you’re facing tight cash flow, investing in business growth or consolidating existing debt, getting access to funding can feel like a make-or-break situation. One of the best ways to navigate challenging economic times is with a 0% interest business credit card for Canadian businesses. This tool offers a low-risk, high-flexibility solution that bridges financial gaps while saving money and providing access to valuable perks.

However, not all 0% interest business cards in Canada are the same. In this guide, we’ll discuss why a 0% APR business credit card is a smart choice for Canadian businesses. We’ll also cover selecting one that will help you avoid taking on expensive debt while enabling you to meet your business goals.

What is a 0% interest business credit card?

An interest-free business credit card does not charge any interest on purchases or balance transfers. There are two types of 0% interest business credit cards: 

• 0% intro annual percentage rate (APR) business credit card: These business credit cards don’t charge interest on purchases or balance transfers for a specific period, typically lasting for a few months to a year. If you pay off the balance before this period is over, you don’t pay any interest. However, if you have a balance remaining after the offer period is over, you may be responsible for paying interest on the full balance. 
• Always 0% interest business credit cards (no APR cards): As the name suggests, these business cards don’t have an introductory 0% interest offer. They don’t charge interest on purchases or balance transfers at any point in time. Float is a Canadian corporate card that is always interest-free. 

Both types of 0% interest business credit cards often offer additional benefits, such as travel rewards points and cash back on certain purchases.

Benefits of 0% APR business credit cards

If you’re looking for financial flexibility to make large purchases and temporarily avoid interest charges, a business credit card with no interest can offer a number of advantages: 

• Save on interest: Compared to a regular business credit card APR, 0% seems ideal. If you know you can pay off the balance before the promotional APR period ends, you can avoid paying interest entirely, which can save your business anywhere from hundreds to thousands of dollars. 
• Earn rewards: If you take out a loan to increase your cash flow, you’ll miss out on the rewards that come with many 0% interest business credit cards. Using a credit card means you can access perks like expense management tools that make month-end less of a nightmare.
• Build business credit: Do you know you can pay off the balance within the timeframe required to avoid interest? A 0% APR business credit card is a great way to build your business credit with financial institutions. 
• Get peace of mind with consumer protections: In Canada, consumer protections for credit cards based on the Financial Consumer Protection Framework focus on transparency and fairness. All credit card agreements are clearly and plainly worded so that you understand the rules and conditions.

Drawbacks and limitations of 0% APR business credit cards

Does an interest-free credit card sound too good to be true? Be aware of potential drawbacks and limitations that could impact your business’s financial health. 

• Regular APR applies after the introductory period: If you haven’t paid off the balance before this period, that balance is subject to the regular APR on some business credit cards. However, with Float, the interest-free period lasts forever (but you cannot carry a balance month to month). 
• You may have to pay a balance transfer fee: Making a business credit card balance transfer to take advantage of zero interest? Some credit cards have balance transfer fees of 3%-5% or more. 
• Annual fees may impact your savings: Some 0% interest business credit cards have annual fees of several hundred dollars, which can offset any savings you earn with no interest. As one of the best business cards in Canada, Float’s annual fee is $0. 

Be mindful about this choice! Your company’s credit could suffer if you’re not careful when selecting the right 0% APR credit card.

How to choose the best 0% interest business credit card

When searching for the best business credit card with 0% interest, choosing from the available options can be overwhelming. Here’s what we recommend you consider: 

• Assess your business’s spending habits: To maximize value, you have to know how your business spends—and pays bills. For example, do you frequently pay off big purchases in a short amount of time? Does your business only need to make large purchases occasionally? Do you have a policy for making credit card payments? 
• Compare, compare, compare: To know what’s out there, you’ve got to do your due diligence. Compare different 0% APR offers, regular APR interest rates, card rewards and expense management tools available. 
• Check issuer requirements: Is there a minimum credit score required? Does your business need to have a certain level of income to qualify? What business information is required to apply for the card? Determine whether you’re able to get the card you want. 
• Think both short and long term: Many businesses view using a business credit card with no interest as a short-term bridge loan—which it can be. But don’t forget about the long-term impact. For example, determine how it will impact your credit score and whether you will pay more interest in the long run.

Top  0% APR business credit cards in Canada for 2025

Ready to start shopping? Here are the best 0% interest business credit card options for 2025. 

Float: Interest-free and full of perks

Looking for more financial bandwidth? Float’s interest-free business credit card can provide the necessary flexibility and control. 

You not only avoid annual fees and interest but also get access to real-time visibility and automated expense management workflows without incurring any credit card debt. Explore how Float’s corporate credit card helps keep your business spending in check.

For small business owners and operators, there are no breaks. Your company is growing and you need corporate payment solutions to match its momentum. The answer? Instant corporate card issuance that empowers employees and maintains spending control and visibility.

The typical corporate card experience, however, often falls short. Securing corporate cards usually involves paperwork, approval wait times and delays in card distribution. This outdated process creates frustration and slows down business agility. Instant corporate card issuance eliminates these barriers, giving you the speed and convenience necessary to stay responsive.

With instant use credit cards, these scenarios are more than a pipe dream:

• Your new hire needs a card? Not a problem.
• A team lead wants to seize a last-minute deal on software? Done.
• Trying to keep spending in check during busy times? You’ve got it covered.

In this article, we’ll break down the benefits of instant-use credit cards and how modern solutions eliminate delays and frustration associated with traditional corporate card options.

What is instant corporate card issuance? 

Instant corporate card issuance is when a credit card provider issues digital or physical cards immediately after your business is approved for the cards. It’s a benefit offered by fintech platforms and modern spend management solutions. Instant issuance is often the norm for virtual cards, but some providers also offer fast physical card issuance.

Traditionally, small and mid-sized businesses (SMBs) played the waiting game every time they applied for a corporate card. They submitted their application—usually with personal guarantees—then waited for the bank to complete reviews, make a decision, process the paperwork and mail out physical cards. Weeks could pass before cards were available for employees to use.

With instant corporate card issuance, you gain access to corporate payment solutions that enable staff to start spending immediately (with control). No more lag time getting in the way of driving your business forward.

Why instant issuance matters for modern businesses 

Because instant corporate card issuance allows employees to start spending the moment your business is approved for the cards, you can get new hires up to speed and urgent projects underway without downtime or disruption.

This often-virtual-first solution is also ideal for remote and distributed teams. With digital card issuance, there are no roadblocks or administrative delays interrupting business spending—no matter where in the world you are.

Check out our guide to understand when to use physical vs. virtual corporate cards. It’s got a clear breakdown of the pros, cons and ideal use cases.

How instant card issuance works 

The typical process for getting a corporate card involves an application, approval and card issuance—but with modern providers like Float, applying takes just five minutes and cards are issued instantly upon approval. That means no delays for team members who need to spend on travel, software, marketing or other key purchases.

Modern solutions also integrate with your other internal systems like accounting and expense management, streamlining workflows and improving process efficiency. 

In addition, with instant card issuance, you can set spend policies, approval workflows and pre-defined limits before the first use of a card. This gives you complete control and visibility over company spending from the very beginning.

Whether you’re launching a new department or managing ad-hoc project expenses, instant card issuance supports faster, more agile operations. Providers like Float offer both virtual and physical corporate cards, allowing you to choose the type that best suits each employee or use case.

Pro tip: Who on your team should receive a corporate card? This article outlines key criteria to help you make smart, secure decisions.

Benefits of instant corporate card issuance 

Business moves fast. Your corporate spending should, too. Today’s Canadian SMBs need more than just a way to pay. They need flexible, secure and scalable tools that empower teams while keeping expenses within budget. Instant corporate card issuance delivers on all fronts. Here’s how it helps your business stay ahead:

• Speed and convenience: Instantly issue virtual or physical cards so employees can make the purchases they need to without roadblocks or delays.
• Stronger controls: Set spending limits, approval workflows and category restrictions from the start—giving you precision without micromanagement.
• Improved cash flow visibility: Monitor spending as it happens, allowing you to forecast and manage budgets with confidence.
• Employee empowerment: Give your team the tools they need to make informed purchasing decisions without unnecessary hurdles.
• Enhanced security: Issue cards with one-time use, pre-set limits and instant freeze/unfreeze features to reduce risk and prevent misuse.
• Greater scalability: Planning to grow? Modern corporate cards scale with your business and adapt to your needs.

Pro tip: Float corporate cards come with built-in features that help businesses track, control and easily manage spend, giving you flexibility and peace of mind.

Choosing an instant corporate card provider 

Thinking an instant card might be right for you? The good news is Canadian SMBs have several options. Use this best corporate card in Canada guide to compare the top options, including instant card providers, and find the solution that fits your company’s needs.

Speed for the win

At Float, we understand the fast pace and high stakes of running a business, because we’ve been there ourselves. That’s why our corporate payment solutions are built to move as quickly as you do, with instant-use credit cards that help you stay compliant, save money and make smarter financial decisions in real time.

When it comes to business spending, speed isn’t a luxury—it’s a necessity. Float delivers with instant approval corporate cards that don’t require personal guarantees, plus fully customizable virtual, physical and digital card formats, or a mix of all three.

Ready to move faster? Apply for a Float corporate card today.

When every dollar matters, the right payment solution can help your business grow. For Canadian companies, modern corporate card programs offer convenience and, critically, a measurable return on investment (ROI). 

From stronger cash flow to sharper expense controls, today’s best business payment methods in Canada are built for speed, savings and oversight.

Whether you’re a scaling startup or an established company looking to cut waste, understanding the financial impact corporate cards can deliver is essential to smarter financial management in Canada.

Let’s take a closer look at how corporate credit cards in Canada are helping finance leaders drive growth, reduce risk and save serious time. We’ll also talk numbers, because when chosen wisely, corporate card benefits can go beyond nice-to-have perks to easing workloads and putting cash in your pocket.

Leverage well-designed card programs for growth

Credit cards are great for racking up points, but with the right terms, a more strategic corporate card program can also be a powerful growth lever. Many card programs offer flexibility that can help small businesses smooth out their cash flow, seize opportunities more quickly and avoid unnecessary capital constraints.

Where the ROI of strategic spending really kicks in

One of the biggest advantages of card programs isn’t what you spend, it’s what you don’t. When you extend your payment cycle by 15 to 30 days, you’re effectively creating interest-free working capital. 

Here’s what that means for your bottom line.

1. Preserve working capital

A business that puts $50K per month on a corporate card with a 30-day float preserves roughly $600,000 in working capital per year. That’s money that stays in your account longer, supporting your cash flow and reducing reliance on other financing.

2. Avoid missed opportunities

That extra flexibility comes in handy. You can use the float period to launch a marketing campaign, scoop up a limited-time vendor discount or hire when it matters most without scrambling to cover spend.

3. Ditch expensive alternatives

Instead of tapping into high-interest credit lines or short-term loans (which can ding you with high interest rates), corporate cards give you 0% financing until the statement due date. Smart leverage, minus the interest hit.

For example, consider a common challenge that arises when a business owner needs to pay for inventory or supplies before generating any revenue for the business. Imagine Jake, who runs a custom furniture business and recently got approved for a high-limit business credit card. Instead of waiting for client deposits or saving up cash, he used $20,000 of his credit to bulk-buy premium hardwood at a discount. 

This let him take on bigger orders and build multiple pieces, cutting production time and increasing profits. By the time his credit card bill was due, he’d already sold enough furniture to pay it off—without touching his cash flow. Leveraging that credit limit helped Jake grow faster without taking on investors or loans.

For startups in particular, access to more flexible credit through corporate charge cards can mean the difference between holding back and being able to hire, launch or scale. Instead of pausing to shuffle payments or chase down reimbursements, you can keep your operations moving confidently. Look for options that go beyond traditional credit products and offer meaningful short-term flexibility, without racking up interest or fees.

When finance teams combine card programs with smart expense controls, they can give department leads the freedom to spend where it counts—without compromising the company’s financial safety. You can also build trust across teams by ensuring they can make smart spending decisions. Give them tools and guardrails, not handcuffs.

Enhance financial control with automated expense reporting

Manual expense reporting is the finance equivalent of death by a thousand tiny cuts. Between tracking down receipts and chasing late submissions, most teams spend hours every month just trying to close the books. But with the right corporate card program, automation does the legwork for you.

Float customers save an average of 8 hours per month on expense reporting, and that’s just for the finance team. That’s a full workday back each month, or enough time to finally read those Slack threads or just enjoy lunch without your inbox judging you.

But the time savings go past your finance team. Employees save about 2 hours each, thanks to receipt capture and real-time categorization that happens as soon as the card is swiped. 

All that time adds up. Even if these 10 hours were paid to an employee making Canada’s average minimum wage, you’ve saved nearly $200 with these time savings. Imagine how high these labour savings can get as salary goes up. But more importantly, consider what these employees can do with that time. High-impact work that delivers on organizational goals is more valuable than digging through manual expense reports. 

With automated expense management in place, your team can ditch scouring spreadsheets to focus on more aligned work. And when you’re saving up to 7% of total spend thanks to better oversight and fewer leaks, the ROI becomes impossible to ignore.

Automated tools also reduce compliance risk. By keeping expense data up to date and policy aligned, companies avoid late reporting headaches and keep auditors happy.

Optimize spending with card payments vs. cash

Paying by cash or cheque might seem like business as usual, but those methods come with hidden costs. From tracking issues to out-of-policy spend, managing cash leaves room for error.

Shifting to modern business payment methods in Canada (yup, we’re specifically talking corporate credit cards here) gives finance leaders the visibility they need to course-correct spending before it becomes a problem. With transaction-level data and real-time insights, you’re not left guessing what happened last month.

Companies using Float have seen savings of up to 1.3% by eliminating unwanted or unauthorized spending. When you can catch spending issues as they happen, you avoid that dreaded “wait, who expensed a $200 beanbag chair?” moment at month-end.

And with centralized data, finance teams can spot trends, adjust budgets and forecast more accurately. These are nearly impossible when expenses are scattered across cash reimbursements and missing receipts.

Want to dig into the math? Companies that switch to Float often discover that what felt like minor inefficiencies were actually costing thousands. See how the savings add up.

Maximize cost savings with rewards programs

Deals on hotel stays or office supplies are good, but rewards that align with your actual business needs are even better. (No offence to the airline points you can only use on Tuesdays in February). Many corporate card programs offer tailored benefits. Think cash back, software discounts or business service credits.

Used strategically, these rewards offset real operational costs. For example, prioritize rewards that reduce real spend or put cash back in your proverbial pocket. Travel rewards can be beneficial if travel is tied to your company’s revenue, but they may also be a perk you don’t need. 

Cash back programs and high-yield accounts (we see you, 4% interest!) can provide helpful savings or protect you from surprise cost increases in times of uncertainty.It’s a smart way to reduce your burn without reducing your output. 

Some cards even offer partner discounts on tools your team already uses, like cloud software or HR platforms. With the right setup, you’re not just spending—you’re stacking value. With corporate cards, it’s easy to track what you’re earning and where it’s going.

Use advanced fraud prevention tools

Did you know that the average Canadian business that is impacted by fraud can lose upwards of $7,800 as a result? And over half of Canadian business owners have dealt with fraud? 

Yikes. 

Fraud is a costly threat. The right corporate credit card program helps you stay ahead of risk—potentially saving your business thousands in losses. With real-time transaction alerts, customizable spending controls and automatic audits, you’re not relying on end-of-month statements to catch mistakes.

That means fewer sleepless nights and fewer “oops” expenses sliding through unnoticed. It also means more trust in your systems and your people, both essential to financial management in Canada. 

Real-time monitoring also reduces admin time spent resolving issues. Instead of days chasing down suspicious transactions, you get instant clarity and control. Float’s tools make it easier to spot and halt problems before they escalate.

Next steps for Canadian businesses

If you’re still managing expenses the old-fashioned way, it might be costing you more than you think. Between missed cashback, wasted hours and limited visibility, your current setup could be eroding profits in the background.

The financial impact of corporate cards goes beyond perks, so take the time to compare corporate credit cards in Canada to understand what to look for, from policy controls to platform integrations.

Evaluating modern corporate card benefits means assessing more than just your spend. Look at how your team manages expenses, how often you review transactions and how much manual work goes into reconciliation. Spoiler alert: it doesn’t have to be this hard.

Float makes it easier. As a corporate card and spend management platform, Float gives you the controls, visibility and rewards you actually want, minus the spreadsheet gymnastics. 

Want to see your potential ROI?

Try Float’s savings calculator and get a clear view of your financial future.

Getting approved for a corporate card as a new business can feel like trying to join a VIP club without knowing the dress code. It’s frustrating, time-consuming and often ends in a “no.”

That’s because most traditional corporate card providers want to see years of business credit history, revenue numbers and sometimes even a personal guarantee. But when you’re just starting out, you might not have any of that—and that’s okay.

Here’s the good news: modern fintech options are changing the game, helping small businesses access corporate cards faster, with less risk and way fewer hoops to jump through. 

Let’s walk through why getting a virtual corporate card can be tricky, what roadblocks you’ll hit and how to get approved for one without putting your personal credit score on the line.

Why corporate cards are hard to get for new businesses

If you’ve just launched your business, chances are you don’t have much credit history. And if you’re a sole proprietor or part of a small partnership, you’ve probably noticed most corporate card issuers aren’t even talking to you.

Here’s why:

1. No business credit history
You haven’t had time to prove that you’re “credit worthy.” Most traditional providers want to see a credit score, steady revenue and years of financial records.

2. Providers want a personal guarantee
Some providers will make you personally responsible for your business’s debt. That means if your business can’t pay its bills, your personal credit and even your assets are on the hook. That’s risky and defeats the purpose of separating personal and business finances.

3. Slow and outdated approval processes

Applications can take weeks and rely on outdated methods like historical credit scores. That’s not great when your business needs a fast and flexible way to pay vendors or manage expenses.

The irony?

You need a business card to start building the kind of credit that business cards require for you to qualify for their card.

This is tricky because corporate cards can streamline spending, simplify expense management, help pay vendors on time and make tax season less painful. They’re a key part of setting your business up for long-term growth. It can feel like you’re missing out on major tools to grow your business when you don’t yet qualify for these cards.

So where do you start?

How to boost your chances of getting approved for a virtual corporate card

If the traditional route feels like a dead end, don’t worry—there’s another path. Here’s how to improve your chances of approval, without years of financial history and a ding to your personal credit score:

1. Build credibility without a credit history

Even without a long track record, you can take steps to show lenders that you’re running a legit, trustworthy operation:

• Open a business bank account (not your personal one)
• Set up accounts with vendors who report to credit bureaus
• Pay your invoices on time, every time

Some fintech providers like Float make it easier to get started. With a quick application (we’re talking minutes, not weeks), you can get access to a virtual corporate card and start building your credit right away.

2. Leverage alternative metrics

Modern providers care about more than just credit scores. They may look at:

• Your current revenue
• Cash flow trends
• Bank account balances
• Real-time business performance

This makes a huge difference for early-stage companies that have yet to file taxes or build a deep credit profile.

3. Avoid personal guarantees

The best option for protecting your personal credit? Choose a provider that doesn’t require a personal guarantee. That means you can keep your business and personal finances truly separate.

Float, for example, doesn’t ask for personal guarantees—ever. This way, you can build your business credit without risking your personal score.

By choosing a provider that doesn’t require a personal guarantee, you’re shielding your personal credit score from potential risk. That means your credit history stays intact if your business hits a rough patch. It’s a smart financial boundary you can set as a new business owner. 

4. Look for fast, modern onboarding

You’re busy. You don’t have time to wait weeks for an application review or jump through hoops to get a card in your hands. Some fintech companies have streamlined this entire process:

• Apply in 5 to 10 minutes
• Get approved in as little as 24 hours
• Add team members, set spend limits and start using virtual cards immediately
• Bonus: Virtual cards are actually more secure than physical ones, adding a layer of safety for your growing business

Float does exactly that and even offers extras like 1% cashback, 4% interest on your funds and no foreign transaction fees on USD spend, since you can get both CAD and USD cards.

Fintechs vs. traditional banks for virtual corporate cards

If you’ve been facing dead ends while trying to find a virtual corporate card, you may have better luck avoiding traditional banks. Big institutions often use slow, rigid approval systems not built for new or fast-growing businesses.

Here’s how fintech providers like Float compare:

Modern providers evaluate your business more holistically, which means better chances of approval and faster access to capital. They also build tools for real-world business needs, like virtual cards for remote teams, automatic expense tracking and the ability to cancel or issue cards on demand. 

If you’re unfamiliar with virtual cards, this explainer covers what they are and how they work.

When it comes to credit, you’ve got options

Getting a corporate card used to mean jumping through endless hoops, risking your personal credit and waiting weeks to hear back. But it doesn’t have to be that way anymore.

With modern options like Float, you can:

• Get approved in as little as 24 hours
• Skip the personal guarantee
• Access 1% cashback, 4% interest on funds and no FX transaction fees*
• Set spend limits, issue virtual cards and integrate with your accounting stack
• Better control employee spend and prevent corporate card misuse with automated policies baked right into the software

Best of all, you get the power of a corporate card without the headache.

Ready to grow your business without putting your personal credit on the line? Learn more or apply for a Float card today!

We’ve all heard the saying “better safe than sorry.” That’s the idea behind pre-spend controls. Instead of scrambling to fix budget issues after expenses occur, these tools help businesses spot and manage spending risks before the money goes out the door. It’s a proactive approach that can save you a lot of financial headaches.

With 25+ years in finance, Vinnie Recile, CFO at The CFO Centre, has seen it all—from fuel card misuse and gift card scams to surprise software purchases no one approved. “The biggest financial disasters aren’t caused by spending,” says Vinnie. “They’re caused by uncontrolled spending.”

In this article, Vinnie shares all the things your CFO wishes you knew about proactively managing spend before it becomes a business and morale problem. We’ll walk through what’s at stake, plus real-world consequences and steps for effectively managing expenses using modern solutions.

Why it’s important to control spend before it happens: the consequences

Clear pre-spend policies help your business maintain profitability, stability and employee trust, explains Vinnie. The control they provide actually gives you freedom in the form of smoother operations, happier teams and a CFO who doesn’t need a stress ball.

On the flip side, the absence of pre-spend controls often leads to loose budget management, higher risks and lower profits. 

Here’s what’s at stake:

Reputational risk

When spending looks off, people notice—both inside and outside of the company. Misaligned or excessive purchases, such as sign-offs on expensive software or vendor commitments made on a whim, can quickly damage your business’s credibility This can send signals to your stakeholders that you may not be keeping a close enough eye on your budget. In turn, stakeholders might start raising eyebrows, and your team may question your leadership. 

Employee morale issues

A lack of structure around spending can lead to confusion and frustration, especially if some teams or executives appear to operate under different rules than others. 

Once a purchase is made, approved or not, the damage is done. As Vinnie likes to say, “you can’t unburn the toast.” Most finance teams will process the reimbursement to keep the peace, tossing in a gentle “don’t do it again.” But problems can snowball when employees bend the rules and get their way, and others start to question the policies.

According to Vinnie, this “can lead to resentment, loss of employee trust and low morale—especially among finance, human resources or accounts payable teams bearing the burden of the fallout.”

Operational chaos

Without pre-spend controls, operations can also become a mess. Think disjointed processes and hours wasted justifying purchases after the money’s gone. 

Expense report mayhem

Vinnie explains that if you’ve got six months of expense claims submitted all at once, especially around the holidays, you’ve got a problem. Not only can this crush your finance team’s holiday spirit, it also throws a major wrench in your forecasting. 

But wait—it gets worse. If expense management isn’t correctly forecasted and controlled, it can significantly reduce your profit margins, Vinnie adds. This can jeopardize any loan agreements, forecasts, cash management or covenants with a lender you may have.

“Missing company expense targets signals to the bank, investors and/or stakeholders that you have weak internal controls,” she says. This can quickly shift your focus from running the business to managing your banking relationship.

Fraud potential

“I’ve encountered fraud, with fuel card misuse and buying gift cards being the most widespread problems,” says Vinnie. 

When fraud is discovered, the story often shifts to “the one who got scammed” or “the employee who misused funds”—intentionally or not. Employees feel embarrassed, judged and even ashamed, especially if they didn’t fully understand the spending boundaries. The emotional toll is real, often spilling into HR with tears, guilt and financial stress. This can leave finance and HR asking, “Who are we really reimbursing—and should we be?”

Even though the purchase has already happened, the damage continues: company funds are lost, time is spent managing the fallout, and morale takes a hit. That’s why pre-spend controls matter.

Runaway subscription and maintenance costs

“Forgotten subscription cancellations and unexpected expenses are other common issues,” Vinnie shares. “For instance, SaaS subscription costs can climb quickly.

One month you’re testing out a tool with a free trial, and the next thing you know, it’s been quietly auto-renewing for six months on the premium plan.” 

Often, maintenance teams pay out-of-pocket on personal credit cards for urgent expenses like tools, supplies or materials. Later, they submit for reimbursement, only for finance to discover after the fact that thousands of dollars were spent.

Culture damage

“A lack of upfront clarity around which expenses are allowed sets the stage for HR challenges,” Vinnie says. Those responsible for approvals are left in awkward situations, too. This creates tension, confusion and a sense of misalignment within teams. What starts as a financial issue, like someone buying software or supplies without approval, can quickly become an HR issue.

“Employees often feel unheard and disillusioned,” says Vinnie. “They think their spending was reasonable, so why the extra questions?”

In other instances, when layoffs are followed by big executive reimbursements, this also sends a poor message. That’s why a lack of pre-spend controls isn’t just a compliance issue—it’s a cultural one. Clear, consistent expense policies are about more than protecting cash flow—they’re about protecting people.

How to establish proactive spending controls

“The good news is that with established policy guidelines, transparency and training, all of the horror stories are avoidable,” Vinnie says. Modern expense management solutions like Float can be a game changer for your business when it comes to managing expenses, introducing corporate credit cards, and even handling bill payments and reimbursements, she adds.

Here’s what to leverage to make a solution like this work for you:

Corporate cards with pre-set limits and purpose

Set and enforce card limits. When receipts are late, cards are paused automatically without any shaming. Accountability without chaos? Sounds good to us.

Customizable rules and workflows

Automate receipt submission and reduce manual errors by customizing rules. This way, your team won’t have to panic when it’s time for month-end close. “With a solution like Float, you can manage limits per employee or department,” says Vinnie.

Real-time visibility

Intuitive reporting offers real-time updates to prevent out-of-policy spending before it occurs. This helps you avoid surprises and late expense reports.

Fraud prevention by design

A system built with transparency in mind cuts down on manual errors, miscommunication and fraud risk. Less time spent on clean-up means more time spent growing your business.

Improved morale and culture

Fairness and clarity lead to happier employees, less resentment and a healthier company culture. Pre-spent controls reduce judgment calls and awkward approvals. “When employees know the rules, they feel trusted, not policed,” Vinnie says.

Lead with intention and spend smarter

Spend control is a cross-functional effort, which means it’s not just a financial concern—it’s a leadership issue.

As Vinnie puts it, “The shift from reactive enforcement to proactive policy doesn’t restrict growth but protects it.” When teams have the tools, clarity and guardrails they need, they operate with greater accountability and confidence, creating a culture of trust.

Ready to implement pre-spend controls at your organization?

Float is an all-in-one platform for managing team and corporate expenses. Get up and spending with Float in as little as one business day.

Corporate cards can be a game-changer for managing everyday expenses. But without a proper business credit card policy in place, they can also create chaos: finance teams chasing receipts, cleaning up approvals and wondering how the marketing team managed to buy three new software subscriptions.

Thomas-Louis Lafleur, CPA and Co-Founder of Le Chiffre, a leading cloud accounting firm based in Montréal, agrees. His firm helps tech startups and professional service businesses modernize their finance functions and specializes in tech-enabled processes.

“Expense management has always been a hassle for small businesses. It’s either too loose or too locked down, and both are cumbersome,” he says.

In this guide, Thomas shares the practical steps he recommends to help Canadian business owners build a business credit card policy that enhances financial control, simplifies spend management and scales with their teams.

Why a card policy matters more than ever

If you’ve ever had a single shared card for your whole team, you know the drill: unclear spending, missing receipts and mystery charges that no one wants to claim. Finance teams have seen it all (and yes, they still talk about that one semi-scandalous charge nobody could ever reconcile). Without structure, card use gets messy fast.

“Most small businesses either give access to everyone and spend ages chasing receipts or lock cards down completely and frustrate the team,” says Thomas. Neither approach works well long-term.

Inefficient financial processes or systems and insufficient cash flow are two of the top five financial challenges SMBs face in Canada. Improving management of company spend and streamlining reconciliations can help ease some strain. 

Unclear policies also complicate audits, slow down approvals and weaken financial visibility. In short, no one wins. And Thomas points out, “The second you don’t have receipts or visibility into card use, it becomes hard to control spend or prove good use of the company’s money.”

The best tools will uphold your business credit card policy

A written document is helpful, but the most effective business expense guidelines live where people actually spend: inside the software. Categorization prompts, text reminders and other nudges from the platform can reduce the burden of reminders and follow-up.

“The best policies are unseen and built into your process,” says Thomas. “If limits and permissions are already built into the system, you don’t need to chase compliance. Technology can help you create clear boundaries.” 

This is one reason Thomas encourages clients to adopt tools like Float. Policy enforcement is seamless when spending limits, categories and receipt tracking are automated.

5 steps to create a business credit card policy that works

A strong policy starts with clarity and scales with structure. Here is Thomas’s step-by-step breakdown for effective corporate card management (without the ever-tightening band of tension around your head).

Step 1: Define clear usage guidelines

Start with clear boundaries around what your company credit cards are actually for. That means outlining acceptable expense categories, inappropriate purchases (like personal items) and the documentation required to stay compliant.

Thomas suggests aligning business expense guidelines for credit card use with your existing expense policy, but adding more scrutiny to riskier categories.

“Expenses like phones, meals and entertainment should have extra oversight,” he says. “And even though expenses like software seem business critical, they often fly under the radar and can get out of control if software isn’t being used.” 

The clearer your categories and documentation expectations, the easier it is to reconcile corporate card statements efficiently and reduce audit risk.

Step 2: Set spending limits and assign responsibilities

Spending caps aren’t just about protecting budgets. They’re about clarity. Role-based limits ensure everyone knows what they can spend, while approval layers keep things moving.

“Under $200 might not require approval,” says Thomas. “But once you go above that, you should require a manager’s sign-off. Anything over $5,000? That should include the CFO or finance lead, too.”

Whether you use Float or another platform, the ability to assign individual card limits and responsibilities is a must for modern corporate card management.

Step 3: Establish approval and reporting procedures

For recurring spend and high-ticket items, a clear process for approvals and monthly reporting ensures nothing slips through the cracks.

“Every expense should have backup documentation, and every manager should review their P&L against the budget regularly,” Thomas advises. “It’s not just an accounting job. Managers need transparency and tools to understand variances and stay on track.”

Modern tools offer smart workflows for credit card expense management and are the brightly-coloured life preservers that keep your team from drowning in paperwork or manual uploads.

Step 4: Communicate policy and provide training

Don’t just email your policy and hope for the best. Make sure your team understands the why behind it and give them guardrails they can actually follow. This is where those built-in guardrails can help guide your employees.

“It’s best when boundaries are embedded into the tools themselves. Float is great for this,” says Thomas. “If the path is already traced and spending limits are built into the software, it’s way easier to enforce.” That means fewer misunderstandings, less manual tracking and better company credit card usage overall. 

Better to have your policy built into the process than written in a document no one reads. Tech-enabled training plus precise in-app controls are a winning combo.

Step 5: Monitor and audit card usage

Strong financial management policies don’t mean much without regular review. Make auditing part of your monthly close and conduct deeper dives quarterly to spot trends or category bloat.

“At minimum, do a monthly check,” says Thomas. “But you also need quarterly deep dives into software spend and other GL categories. Without a clear budget as a benchmark, it’s hard to catch discrepancies.” 

Platforms like Float support better oversight of your corporate card program with real-time visibility and budgeting tools built for finance teams.

Float: Take control of your company credit card usage with an iron-clad policy

A strong business credit card policy doesn’t just protect your budget. It helps your team spend responsibly whenever your organization needs it, without friction or overspend.

With Float, Canadian businesses can embed their policies directly into the tools they use every day, complete with automated controls, smart limits and simplified reporting that supports every step of your financial management policy.

If you’re still fighting to enforce your business expense policy manually or running corporate card programs off spreadsheets, it might be time to hang up the gloves.

“Integrated tools help clients get out of old-school processes and into a system that works,” says Thomas. 

Corporate cards should make business spending smoother, not riskier. But without the right controls, visibility or policies, even well-meaning teams can open the door to fraud, misuse and costly mistakes.

Nobody likes the thought of fraud happening in their organization, but ignoring it is not an option. The longer a dishonest employee works for the company, the greater the impact. Median costs lost to a bad actor rocket up to a quarter of a million dollars over a decade or more, according to the Association of Certified Fraud Examiners.

Seb Prost, CPA and founder of LedgerLogic, has helped guide business owners through these concerns. His firm provides tax, accounting and virtual CFO services for Canadian businesses looking to modernize their finance stack and reduce the friction of traditional banking tools.

In this article, Seb walks through the risks he sees most often and the corporate card security best practices that help companies take a proactive stance in credit card fraud prevention.

The importance of managing corporate card security

Corporate card fraud rarely looks like a high-stakes heist. More often, it’s unintentional misuse or a small purchase here and there. Even so, the cost adds up. And it’s even harder to spot red flags when your team shares cards or lacks oversight.

“The lack of real-time visibility into spending is a huge issue, especially with legacy banking,” says Seb. “You might not know until month end what was actually spent.”

Delayed reconciliations, shared cards and hard-to-cancel access are all vulnerabilities that Seb’s clients face. These issues pose a risk, especially when no one’s sure who made a charge or whether the expense aligns with someone’s role. With help, these businesses can implement better financial management controls that are key to preventing corporate card misuse.

Biggest safety risks

When it comes to corporate card security, the most common risks aren’t always the most obvious. Sometimes the issues are real security risks, while others are simply due to a lack of clarity. 

Here are a few of the most common risks Seb advises businesses to watch out for:  

Lack of visibility

Without real-time spend tracking and timely receipt submission, unauthorized charges can fly under the radar for weeks or even months. 

Shared cards

As soon as a card changes hands, there’s an opportunity for murky details or misuse. “If it’s just one card for multiple people, how do you even know who spent what?” asks Seb.

Orphaned cards

Former employees with lingering access can create serious exposure if cards aren’t cancelled immediately.

Receipt gaps and role mismatches

Expenses that don’t align with a person’s responsibilities or arrive without documentation should cause concern. 

5 tips to better your corporate card security management

The risks are real, but can be managed. With the right policies and financial management tools in place, you’ll be well on your way to preventing corporate card misuse while empowering your team. 

1. Develop a comprehensive corporate credit card policy

Think of your credit card policy like a seatbelt. It should click into place before anyone starts driving. It’s your first line of defence to preventing any security issues. Define who gets a card, how it should be used and what happens when someone breaks the rules.

Seb recommends setting clear eligibility criteria, pre-approval thresholds and usage guidelines tied to specific roles and responsibilities. 

“Does it make sense that this person gets a card?” he says. “If someone’s in IT, maybe they need to pay for a subscription. A salesperson might need travel funds. But not everyone needs a card that can be used for anything.” 

The policy should also list prohibited uses (like personal expenses) and the consequences for credit card misuse. And don’t let your corporate credit card policy collect dust. “Review it periodically, especially if there are changes in how the business operates,” says Seb. 

2. Implement financial management controls

Internal controls are essential for spotting fraud early. For example, you can assign individual cards instead of shared ones for more clarity. “You want to be able to track an expense back to an individual, not a team,” Seb says.

Real-time transaction feeds help business owners or accountants flag issues quickly. “You can pop into Float and review expenses daily if you like,” says Seb.

Other smart controls include:

• Regular reviews by accountants or management
• Setting and reviewing transaction limits
• Segregation of duties so the same person isn’t both spending and approving 

3. Use technology to enhance security

Legacy systems walk. Modern solutions run, with real-time visibility, instant card controls and tech that doesn’t make you beg a banker for a call back. 

“Instant card issuance and freezing is a big one,” says Seb. “If somebody joins or leaves, you can issue or cancel a card right away with no need to call the bank.”

He also recommends category-level restrictions. “If you can limit based on what the person actually needs, that’s super helpful,” he says. 

Other features that stand out include:

• Adjustable spending limits that reflect project budgets or one-off needs
• Cloud accounting integrations that eliminate manual data entry
• Automatic receipt capture and reminders to cut down on paperwork and errors

“Automation helps catch issues early and significantly reduces the administrative burden on finance teams,” says Seb. 

4. Set appropriate corporate card limits

Card limits aren’t one-size-fits-all. “Base limits on the employee’s role and the type of expenses they might incur,” Seb says. A salesperson might need more flexibility, while admin staff might only need a small recurring amount.

He also suggests adjusting corporate card limits monthly when needed, like busy seasons or to attend a trade show. He also recommends enabling real-time alerts so employees know when they’re approaching their cap. 

5. Educate employees on security best practices

Policies only work if people follow them. “It starts with clear communication and training,” says Seb. 

He recommends a quick onboarding session when issuing cards, including examples of acceptable and off-limits purchases. “Equally important is reinforcing that card access is a responsibility, not a perk.”

Seb also flags receipt collection as a chronic pain point. “Especially for outsourced bookkeepers, it’s hard to get clients to provide supporting documentation,” he says. That’s where Float’s automated reminders can offer help.

“When employees get a text reminder to upload their receipt right away, it makes a big difference,” says Seb. “It reinforces good habits.” Finance teams can also offer transparent feedback to help employees stay compliant without friction.

Float: A smarter path to corporate card security

Float works to reduce fraud, improve workflows and help finance teams sleep a little better at night.

Card security shouldn’t be damage control. Build smart habits into your spend process from day one, and skip the nightly teeth-grinding and month-end panic.

Seb often recommends Float to clients because it streamlines corporate card management for everyone. “We get that visibility on credit card spend. It makes it easier for them, and makes it easier for us,” he says.

Want to see if Float is right for you? Take a tour. 

From unpredictably high costs to time-consuming expense reports, effectively managing business spend often leads to frustration and headaches. However, travel expenses, client dinners and office supplies are hard to avoid. 

Whether you’re getting ready to launch a startup or leading finance for a small business in Canada, you know that corporate cards play an important role in growing and managing your company. So, how can you—and your team—spend company money without it resulting in a migraine? 

With the right corporate cards for your small business, you can improve cash flow, avoid unwanted purchases and make your money go further, all while streamlining expense management. 

In this implementation guide, you’ll get step-by-step instructions on the best way to set up corporate cards for a small business in Canada.

Step 1: Identify benefits of corporate cards for your small business

It may seem easy to put your business expenses on your personal credit card, but this can leave you missing out on some major benefits.  Leveraging corporate credit cards for small Canadian businesses offers a number of advantages: 

• Personal finance protections: Separating business and personal spending helps protect personal finances if your business ever runs into trouble.  
• Improved cash flow: Corporate cards provide a way to increase your access to capital and use your enhanced purchasing power to pay bills and buy supplies without waiting for accounts payable. 
• Financial rewards: Corporate cards offer financial perks that make your money go further, such as cashback, travel points, shipping discounts and waived foreign transaction fees. 
• Better business credit rating: Want better business loan terms or insurance rates? Improve your company’s credit rating with a corporate card that you pay off every month. 
• Enhanced financial control: With a corporate card program, you can set limits, track spending in real time, and avoid budget overruns. This control is especially important considering that 30% of SMBs don’t have good cash flow visibility. 

Step 2: Evaluate corporate card features that suit your small business needs

Your corporate card program should make managing your business expenses easier. After all, you’re trying to reduce the number of headaches on any given day.

Opt for corporate card programs that integrate with your accounting software, like QuickBooks and Xero, so you can have seamless expense management processes. Float’s expense management software offers the ability to automatically submit receipts via mobile app or text, completely eliminating the need for those pesky expense reports. 

Another major feature to consider when you’re choosing a small business credit card in Canada is employee management. Does the card offer custom spending controls for each cardholder, for example, or can you set limits for one-off purchases? These types of controls remove the burden of manual expense monitoring so you can focus on running the business.

Step 3: Implement corporate card policy rules

Having a corporate card with employee controls is one thing, but you still need corporate card policy rules to ensure compliance and accountability. Effective policies minimize the risk of financial fraud and corporate card misuse and clarify confusion around business expenditures. 

Your corporate card policy rules should cover: 

• Corporate card eligibility: Define which individuals are eligible for a corporate card based on their title or duties. 
• Rules for usage: Determine what the corporate card can be used for to avoid surprise reimbursement requests. Outline what it should not be used for, such as personal expenses. 
• Spending limits: Set spending limits for each cardholder or specify limits for specific purchases, such as client dinners and airline tickets. 
• Documentation requirements: Specify whether you want electronic or hard-copy receipts and how you want the documentation submitted. Clarifying this up front significantly streamlines business expense management (especially at tax time!). 
• Expense approvals: Clarify the organizational hierarchy for spending approvals and outline the timeline for approvals to avoid expense management delays.

Step 4: Select the right small business corporate card

To get the most business credit card benefits, you’ve got to choose a card that offers perks that matter to you. Here are the key considerations when choosing the best business credit card for your needs: 

• Annual fee: If you’re paying an annual fee, it should deliver real value. There are also great options with no annual fee that still offer plenty of benefits, so make sure whatever you choose is worth it.
• Rewards: Does the card offer cash back on purchases, and if so, how much? Some cards give you a flat percentage back after a certain spending threshold, while others only reward specific categories. Also consider whether the card includes points, discounts, travel perks or other benefits that matter to you.
• Interest rates: Many business credit cards have high interest rates, while some, like Float, offer interest-free credit terms. 
• Application times: Most banks take two to three weeks to process applications, while Float cards are issued almost instantly (if you don’t mind waiting five minutes).

Step 5: Train employees on corporate card use

A recent study on corporate-issued credit cards showed that 30% of company cardholders have not received any training on how to use them appropriately. That’s a recipe for misuse, and one that can be easily avoided with the right training. 

To fully take advantage of business credit card benefits, it’s important to educate staff about company credit card policies (see step 3!). Set up training sessions covering misuse, spending boundaries and documentation requirements when submitting expenses. Make sure to tailor your training to your specific business needs. You can even train people based on their roles and what permissions they would have.

Corporate credit cards for small Canadian businesses: A strategic tool for growth

Business credit cards have considerable advantages for Canadian businesses when implemented properly. Following these steps when getting corporate cards for your business will help you avoid banging your head on your desk at the end of each month while spending confidently.

Ready to get your own corporate credit card program started?

Check out Float corporate cards and see how we can help you scale your financial operations with a balance of control and flexibility. Book a demo with our team today.

As businesses grow and spend becomes more decentralized, the way teams manage expenses has to grow with it. One of the biggest shifts? Moving from plastic in your wallet to virtual numbers in your phone.

Virtual corporate cards are now a go-to for many finance teams, offering speed, security and control. But these aren’t entirely replacing physical cards! Those still have their place, especially for travel-heavy teams or in-person transactions.

So, which should your business be using and when?

Let’s break down the pros, cons and best use cases for virtual and physical corporate cards so you can take advantage of corporate card benefits.

What are corporate cards?

Corporate cards are company-issued payment cards that employees use for work-related purchases, from client dinners to SaaS tools and everything in between. Instead of reimbursing staff, corporate cards let teams pay upfront, giving finance teams visibility and control over spending. 

Great expense management solutions use corporate cards as part of a bigger system that: 

• Increases operational efficiency by reducing the time spent chasing receipts
• Improves accuracy by minimizing manual entry and error-prone spreadsheets
• Encourages responsible spending through clear budgets and rules

Today’s corporate cards typically include spend limits, transaction tracking and fraud protection. Some also offer extra features like instant card issuance and cashback rewards.

Virtual vs Physical Corporate Cards

There are two main types: virtual cards and physical cards. Let’s look at how each works.

Virtual corporate cards

A virtual corporate card is a digital-only card that exists online. It has a card number, expiry date and CVV, just like a physical card, but there’s no plastic involved. You can generate one instantly, assign it to an employee or a vendor and start spending right away.

Virtual cards are especially useful because of how easy they are to control. You can create a single-use card for a vendor, set daily or monthly limits, block specific merchant categories or have the card auto-expire after a specific time period. If the card is compromised, you can freeze or delete it in seconds. You also generate a virtual replacement just as fast—no waiting weeks for cards to arrive in the mail. 

Benefits of virtual corporate cards:

• Instant issuance and assignment
• Custom spend limits and expiration rules
• Better tracking by employee, team or vendor
• Higher virtual card security with less exposure to fraud
• No physical card to lose, steal or forget at home

“I only use physical card[s] for ATMs, and virtual for every other payment, unless I have absolutely no other choice. It’s safer, because I can block and create a new one any time in case something happens.” — Reddit user

Drawbacks to consider:

• Not accepted by all merchants for in-person purchases
• Can’t be used at ATMs
• Some employees may prefer the familiarity of a physical card

Virtual cards are ideal for managing online subscriptions, assigning budget-specific cards to marketing campaigns or vendors, and giving employees limited-use cards for purchases like software, training or equipment. They’re ideal for startups and digital-first teams that want scalable ways to control company spend. 

Physical corporate cards

Physical corporate cards are the traditional plastic cards most are familiar with. They’re chip-enabled, tap-to-pay ready and can be swiped or inserted anywhere credit cards are accepted.

They’re ideal when a virtual card won’t cut it, like when employees need to travel, withdraw cash or pay at locations that don’t support digital wallets.

Benefits of physical corporate cards:

• More wide acceptance at stores, restaurants, hotels and ATMs
• Convenient for travel and day-to-day business spending
• Easy to use, especially for employees who prefer traditional options
• Some cards offer rewards like travel perks or cashback (though some virtual cards do too—like Float’s 1% cashback)

Common drawbacks:

• Cards can be lost, stolen or cloned
• Replacements take time to ship
• Without proper controls, they’re harder to monitor or restrict

That said, physical cards can offer great control when paired with platforms that let you set spend limits, block categories or track transactions in real time. With the right tools, you can get the best of both worlds: flexibility for your team and oversight for your finance team.

How to compare virtual and physical cards

Here’s a quick comparison of how the two card types stack up:

Best use cases for each

The best setup isn’t always either-or. Depending on the situation, many companies benefit from using both card types.

Use virtual cards for:

• SaaS tools and cloud software
• Digital ad platforms
• Freelancer or vendor payments
• Employee-specific budgets (e.g. onboarding, training, home office)

Use physical cards when:

• Team travel, meals and conferences
• In-person client purchases or hospitality
• Office supply runs and vendor pickups
• Situations where ATMs or swipe terminals are required

For example, your marketing manager might have a virtual card for ads and a physical card for travel. This separation adds clarity and control for finance without slowing down the team.

By mixing card types and clearly defining usage rules, you can increase security, reduce confusion and streamline reconciliation.

How to choose the right corporate card solution

When building or upgrading your company’s business card usage, here are some tips to consider:

• Choose a provider that offers both virtual and physical cards
• Look for tools that allow you to set spend limits, restrict merchants and monitor usage in real time
• Make sure the cards connect with your accounting, ERP and HR systems
• The system should be simple for your team to understand and adopt
• Whether you’re onboarding one person or one hundred, it should take minutes, not weeks

Training also plays a key role. Make sure employees know which card to use and when, what expenses are covered and how to submit receipts or notes if needed. A quick guide or short onboarding video can go a long way.

A well-managed card program can unlock smarter budgets, faster processes and better decision-making across your business. All it takes is the right setup and the right tools to support it. Explore Float’s corporate card solutions today.