Author: Ruslan Nikolaev

Rising gas prices nationwide can make operating vehicles in your business both challenging and expensive. In addition to maintenance, fuel accounts for a major portion of operational spend for companies that use vehicles to provide services. The good news? Finding the best fuel card, also known as a fleet card, for your business can save you money and give you control over the cost of getting from A to B.

What is a fleet card, exactly, and how is it different from a corporate credit card? And when should you choose one over the other?

In this guide, we’ll go over how businesses benefit from providing fleet cards to employees and introduce some of the best fleet fuel cards Canada has on offer—plus a few alternatives.

What is a fleet card?

Fleet cards, also known as fuel cards, enable employees to pay for the costs associated with operating a vehicle—including gas, maintenance and repairs—and forward the charge to their company as a business expense. Fleet cards can only be used for vehicle-related costs, whereas other corporate cards can be used for purchases like office supplies, software subscriptions or meals.

Fleet cards are for businesses of all sizes with employees who drive a vehicle as part of their job. This includes ride share companies and businesses that manage field workers or contractors who commute to different job sites (think plumbers, landscapers, maintenance crews and telecommunications techs). Fleet cards are a must for long-haul trucking and last-mile delivery companies that need a way for drivers to pay for fuel and maintenance while they’re on the road.

How does a fleet card work?

If you’re looking into business cards, you might be wondering: What is a fleet card used for? Can’t a corporate card do the same thing?

There are definitely similarities. Employees can use fleet cards to make fuel and vehicle maintenance purchases on the company’s tab the same way they’d pay with a company debit or credit card. Many fleet cards are a type of credit or charge card that accumulates a balance that the employer needs to pay down regularly. Some providers, like Float, also offer prepaid business credit cards for fuel. 

However, modern solutions like Float are blurring the line between fleet cards and broader corporate expense management. Float’s platform gives businesses the same control and visibility as dedicated fuel cards with the added flexibility to manage all employee expenses (including fuel, maintenance, and travel) in one place. Built for Canadian businesses, Float offers customizable spend limits, real-time tracking and instant card management across both CAD and USD. With Float, finance teams can manage fleet spending alongside the rest of their operational costs, without switching between one system and another.

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Unlike general-use business credit cards, fleet cards enable employers to set strict spending limits and restrict the types of transactions employees make—and even where they can make them. 

There are two types of fleet cards:

• Closed-loop fleet cards are offered by fuel retailers and can only be used within their fuel networks. One major downside is that drivers have to go out of their way to use them at specific gas stations and truck stops.
• Open-loop fleet cards are offered by financial institutions or corporate card providers and can be used anywhere the card’s brand is accepted. Open-loop cards are often Visa or Mastercard cards. 

You can assign a fleet card to an employee or a vehicle, making it easier to track the total cost of ownership (TCO) and identify any gas-guzzling lemons in your fleet. The cards also offer security features like flagging unauthorized transactions and allowing you to suspend or cancel non-compliant cards.

Fleet cards vs. corporate cards: Which is right for your business?

Both fleet cards and corporate cards can offer your business rewards, spending control and flexibility—but both may not be right for your needs. When you’re evaluating fleet cards vs. corporate cards, keep these considerations in mind.

What is the scope of your employee purchases?

Corporate cards are for general business expenses like hotels, meals and office supplies while fleet cards are for vehicle-related costs. Are your employees going to be expensing staplers and printer ink or fuel and car washes?

Are you looking for cost savings?

Let’s face it: Every business could use a discount. Some fuel card providers offer discounts or rebates based on purchase volume, while corporate cards often offer rewards and points. Decide what type of cost savings will benefit you most.

What type of reporting do you need?

Some fleet cards offer granular data regarding vehicle spending, such as vehicle ID, driver ID, odometer and fuel type, while corporate cards provide data like merchant, purchase date and employee card. Consider what type of reporting and data you need for your business expenses.

Answering these questions for your business can help you determine whether you need a fleet card or a corporate card. Keep in mind that your business may not need to choose between one or the other—some businesses will need both.

For businesses that need to manage both vehicle and non-vehicle expenses efficiently, a platform like Float can eliminate the need for separate cards entirely, offering instead full control, compliance and real-time visibility under one roof.

Benefits of fleet cards

There’s a reason fleet cards are a popular option, even with the wide availability of corporate cards. 

Eliminate the reimbursement rigamarole

With a fleet card, employees don’t have to worry about gathering receipts to submit for approval or wait for reimbursement. In turn, your accounting team doesn’t have to spend time hunting down receipts or juggling payouts, making it easier to control cash flow. Now, that’s a win-win!

Give drivers autonomy without compromising on control

Using a fleet card keeps the budget under control without causing roadblocks for drivers. Fleet cards give you the best of both worlds: the ability to set spend limits and track usage while also allowing your team to fuel up when it’s convenient for them. This level of flexibility is key.

Get better insights and analytics 

Top-performing fleet cards can be integrated with bookkeeping or expense management software to automatically log details like fuel grade, fuel price and location. This enables you to measure fuel efficiency and maintenance costs so you can spot opportunities for improvement.

Take advantage of savings and rewards

Many closed-loop fleet cards offer rebates or discounts on fuel, car washes, tires and mechanic services. Some also offer cash back or points programs. At Float, our corporate cards offer a stack of rewards, including 1% cashback and up to 4% interest on high-yield account balances—without the restrictions of closed-loop cards.

Best fleet fuel cards in Canada

The best fuel card will offer employees flexibility and convenience when they need to fuel up while giving you greater visibility and control over your vehicle expenses. If your employees are driving out of province or into the US, you need to consider cards that work across borders.

To help you find the card that fits your business, here’s an overview of some of the best fleet fuel card and corporate card options Canada has to offer:

Closed-loop fleet cards

• Shell Fleet Plus: One of the leading fuel cards for trucking companies in Canada. Offers discounts at Shell stations and Jiffy Lube, plus Air Miles. Includes purchase controls and reporting.
• Esso and Mobil Business Card and Premier Plus Business Card: Another leader with a wide network offering fuel cards for trucking companies in Canada. Provides volume discounts and, at the Premier Plus level, advanced performance reporting.
• Co-op Fleet Cards: A popular option for transport and agriculture companies. Can only be used at Co-op, Tempo and Western Nations Gas Bars in Western Canada. 
• Circle K Pro Fleet Card: A digital fuel card for Canadian businesses used for discounts at Circle K locations. It’s a Visa card, so it can also be used at other locations—but you won’t get the same discounts as at Circle K.
• Petro‑Canada SuperPass: Accepted at every Petro‑Canada truck stop and gas station. Comes with customized reporting as well as security tools. 

Open-loop fleet cards

• Shell Fleet Navigator: An open-loop Mastercard that has all the benefits of Shell Fleet Plus along with additional chip and PIN security and universal acceptance.
• BMO Fleet Card: Can be used everywhere, including Mastercard ATMs. Offers spend controls and reporting. 
• Foss National Leasing Fuel Card: This open-loop-ish card is accepted at 98% of Canadian fuel retailers. The program includes tire services from Foss, which also offers vehicle leasing. 
• Mastercard Corporate Fleet Card: A cost-effective option for Canadian businesses. Accepted widely and has comprehensive spend tracking and controls.
• Fillip Fleet: A dedicated fleet card accepted wherever Visa is accepted. Includes transaction logs, telematics, fuel reporting, vehicle ID tags and more.

Corporate cards for vehicle expenses from modern business finance providers

• Float: Flexible open-loop corporate card solutions, including fuel cards for small businesses in Canada. Provides built-in expense management and spend limit features, with an average 7% savings. Built for Canadian businesses. 
• Keep: General-use corporate card with higher credit limits. Offers basic spend controls and expense tracking. Not available in Québec.
• Loop: General-use corporate card with no FX fees. Offers points rewards on purchases.
• Venn: General-use corporate cards that offer 1% cashback on purchases and no FX. Provides multi-currency accounts. Not available in Québec.
• Rippling: General-use corporate cards that have custom spend controls. Available across Canada excluding Québec.

What to keep in mind when choosing a fleet card

It’s clear from the above that you have options if you’re considering a fleet card. And while options are nice, too many can make it challenging to pick the right one for your business. Instead of feeling like you’re pulling a random needle out of a large haystack when choosing your card, keep these important fleet factors in mind.

• Network coverage: Closed-loop fleet cards are only accepted in certain fuel networks, while open-loop and corporate cards are accepted more widely.
• Tracking and data analysis: Fuel cards should provide tools to monitor fuel efficiency and maintenance costs. This way, you can better understand TCO and invest wisely in new vehicles moving forward. 
• Tech stack integrations: Fleet cards that seamlessly integrate with your tax and accounting or business intelligence software make it easy to stay compliant and measure success. 
• Expense management: The best fuel cards for trucking companies in Canada offer expense management solutions that integrate with telematics and electronic logging device (ELD) software for a holistic view of vehicle costs. 
• Eligibility and fleet size: Some fleet cards require a minimum number of vehicles. Consider whether your fleet meets those specifications.

Bear in mind that some cards require you to buy a minimum volume of fuel each month to qualify for benefits like discounts and rebates. If fuel purchases aren’t a major cost for your business, choosing a general-use corporate card allows you to have the same level of control over employee purchasing without limitations around what types of expenses they can pay for with their card. 

How to apply for fleet cards

Unlike business credit cards, many fleet cards on the market are issued by fuel retailers or corporate card providers, rather than traditional financial institutions. If you’ve looked into how to get a business credit card before, you might be wondering, what is a fleet card application process like? 

You’re in luck. Applying for a fleet card is typically quick and easy. Here’s how.

1) Get your business info together

Applications require information like your company name, location, type, industry, registration documents and your GST/HST number. 

2) Gather fleet information

You’ll need to report details like the size of your fleet, your monthly fuel and maintenance costs and your monthly fuel use. 

3) Gather financial documents and check your credit score

Some providers may need to look at financial statements, proof of income and your credit score to determine the credit limits you’re eligible for. Some also require a personal guarantee or other collateral. 

4) Complete your application

Many closed-loop cards and bank-issued cards require you to speak directly with a representative about your needs. Open-loop cards, especially those offered by fintechs, typically have fast online application processes. At Float, it takes just 10 minutes to apply for your corporate cards.

5) Get approved and issue your cards

With Float, you can get a 24-hour turnaround on approval. Some providers have longer approval timelines. Once you’ve been approved, you can put rubber to the road and start assigning cards to your drivers.

Managing fuel expenses in your business

According to the American Transportation Research Institute (ATRI), fuel accounts for almost a quarter of trucking companies’ operating expenses and costs an average of $22.23 USD per hour per vehicle. 

Saving on fuel frees up cash in your business. Reducing fuel costs also goes hand-in-hand with lower emissions, which can help you meet climate action targets. 

Here’s how you can control your fuel costs in addition to using a fleet card.

Optimize routes and loads

Use telematics solutions to find faster routes and enable drivers to proactively navigate around traffic and construction. Ensure your drivers are only carrying what’s required. Don’t let employees lug their hockey bags around in the company car—as fuel consumption increases by about 1% for every 25 kg in mid-sized cars. 

Reduce idling and speeding

The average car wastes one cup of fuel every 10 minutes that it’s idling. But going fast doesn’t save you the fuel you lost idling. Going 20 km/h over the 100 km/h speed limit on the highway isn’t just a safety risk—which can lead to costly fines—it also increases fuel consumption by 20%.  

Coach drivers

Habits like repeatedly hitting the brakes and speeding up can increase fuel use by up to 33%. Coasting rather than using the accelerator and brakes can also save gas. Proactively coach drivers on techniques to reduce fuel consumption and minimize wear and tear on your vehicles. 

Perform preventative maintenance

Replacing air filters, changing oil and checking tire pressure on a regular basis boosts fuel efficiency and ensures your fleet is in good working order. This reduces unnecessary emergency repair expenses.  

Fleet card management best practices

Whether you run a trades business or have commuter vehicles for your team, you can improve your operational efficiency with the right fleet card. But to really see the benefits, you’ve got to make sure you’re following key best practices.

Have clear card usage policies

Provide written guidelines for who the fleet card is for and what expenses are allowed on the card. It’s best to assign a fleet card to a specific employee rather than to a specific vehicle to increase accountability with your team.

Train your team

It’s not enough to just give your team your expense policy. Provide training sessions to ensure each team member understands card policies and reporting procedures. Consider offering quarterly or annual training for your team, along with a mandatory test to measure understanding.

Use fleet card controls

No one likes a micromanager, but keeping spending tight is essential to business success. Set spending and merchant limits on the card to prevent unauthorized use and overspending. This will help ensure your team stays within your budget.

Integrate with your accounting system

Integrate your fleet card with your accounting system where possible so you can automate data sharing. This helps you streamline bookkeeping and reimbursements as well as track spend data.

Fleet card security and fraud prevention

With a sharp rise in credit card fraud in Canada in 2025, it’s important for business owners to be prepared. From stolen credit cards to unauthorized purchases, there are security and fraud issues that could be coming your way. Plus, adversaries rarely look like the bandits in cartoons, so they can be hard to spot. Here are some essential card security and fraud prevention strategies to put in place.

Keep everyone informed about safety and fraud prevention

From your business partner to your team members, ensure everyone understands your card policies and credit card best practices. Specify that no one is to share credit cards or passwords, and that they must report stolen credit cards immediately. Teach your team never to leave their fleet card unattended, whether they are at work or elsewhere.

Monitor fleet card transactions in real-time

You don’t want to find out about an unauthorized purchase the next day. Opt for a fleet card that provides real-time transaction updates so you can spot anomalies right away. If you have spend controls in place, your card will stop spending outside of those restrictions. However, real-time monitoring is necessary for those grey-area purchases that might slip through the cracks.

Audit your fleet card transactions on a regular basis

To catch potential card-skimming issues, reconcile receipts and transaction data on a weekly or monthly basis. This way, you can spot unusual transactions early and address them with your team.

Deactivate cards when not in use

If an employee leaves or changes positions, deactivate their fleet card rather than giving it to another employee. This helps to keep internal security controls tight. An idle credit card is like an open tab at a bar. If it’s there, someone’s going to try to use it.

Increase reporting requirements

Ask for GPS logs, fuel receipts and mileage logs from employees so you always have a paper trail to confirm spending. This helps keep your entire team accountable to company policies.

Fleet card integration with expense management systems 

If you’ve ever had to rummage through a pile of crumpled receipts and manually enter each purchase into your expense management system, you know how stressful and time-consuming it can be. And if you run a business where vehicles travel across provincial borders or into the US, you also need to file IFTA (International Fuel Tax Agreement). You’ve likely got more pressing tasks on your plate, so why not try to automate this process? 

Some fleet cards and corporate cards can be integrated with expense management systems so you can automatically import transaction data with no headaches. This automation ensures your data is available for review and reporting when you need it—without the fear that you may have missed typing in a transaction or made a typo. Some expense management systems can also calculate IFTA information so your data is ready when it’s time to file. 

When choosing your fleet card, make sure it integrates with your expense management system and supports automated syncing (rather than manual uploads). This ensures your data syncs in real-time so you always have up-to-date information at your fingertips.

How to choose between fleet cards and corporate cards

If you’re still going back and forth deciding between a fleet card and a corporate card, here are some important considerations to help you decide on a type of card.

Spending patterns

Does your team spend most of their time on the road with mostly fuel and maintenance expenses, or are they at the office spending on supplies and meals? Track team spending patterns to see what your biggest expense categories are.

Card acceptance and coverage

Card acceptance shouldn’t be a guessing game, especially when your team is about to run out of gas. Some fleet cards are accepted only at certain gas stations and fuel networks, while corporate cards are typically accepted everywhere. What’s most convenient for your employees?

Spending controls

Some fleet cards can limit unauthorized purchases. Certain corporate cards like Float’s have spending controls such as merchant category blocking and card pausing. Think about what types of spending controls you want on your company cards.

Rewards and discounts

You may find volume-based discounts and rebates for fleet cards. Many corporate cards also offer rewards like cashback and travel points. What’s most enticing for your team?

Data and reporting

Some fleet cards provide vehicle-level data while corporate cards like Float’s offer real-time information on spending. What level of granular data do you need from your company cards? 

Evaluating the ROI of a corporate card versus a fleet card doesn’t have to be complex. In some cases, you may be better off using a corporate card as it can handle both fleet and general expenses.

Best business credit cards

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Float for fleet management 

Fuel cards are great for trucking companies or last-mile delivery companies whose drivers mostly spend money at fuel stations, truck stops and mechanics. But if you run a trades- or service-based company, provide commuter vehicles for your employees, have a broad range of travel patterns for your team or have a small number of fleet vehicles, the best fuel card for you might be a general use corporate card.

Float offers the best business credit card in Canada. Our flexible corporate cards enable you to manage all of your employee expenses, including fleet costs like fuel and maintenance, in one place. Drivers can use Float cards wherever Visa and Mastercard are accepted across Canada. 

With Float, you can set the same strict spending limits that you’d expect from the best fleet fuel cards in Canada and customize those restrictions—in real time—for all the purchases your employees need to make. Float’s suite of powerful reporting features show transactions as they happen in the moment and enable you to track budgets vs. actuals over time. 

Float also offers high spending limits up to $1M with no personal guarantees. With 1% cashback on spend, up to 4% interest on funds held in Float and low USD conversion fees, customers on average save up to 7% of their total spend through rewards, interest and efficiency gains.

Take control of your fuel costs with Float and discover how to make every dollar go further—on and off the road.

The future of secure online payments isn’t plastic—it’s virtual. Virtual credit cards let Canadian businesses shop, subscribe and pay vendors online without ever exposing their real financial information.

By adding an extra layer of security and control to your online payments, virtual credit cards are a game-changer for businesses looking to make purchases online with peace of mind.

In this article, we’ll dive into the world of virtual credit cards, exploring what they are, how they work and the numerous benefits they offer. By the end, you’ll have a clear understanding of why virtual cards are a smart choice for anyone who values security and convenience when shopping online.

What is a virtual credit card?

A virtual credit card is a secure, digital 16-digit card number that allows your business to make online purchases without exposing your main account details. Although a separate number is used, transactions you make with a virtual card still appear on your regular statement. This comes from your prepaid balance or your monthly charge limit. This gives teams the flexibility of a traditional card with added control and real-time visibility into spending.

How do virtual credit cards work?

When you request a virtual card number, your issuer generates a unique 16-digit number, expiration date and CVV that is tied to your account. You then use this virtual card number to make purchases online or over the phone, without revealing your physical card’s information. Depending on your needs, some virtual card numbers are for single use, while others can be used for multiple transactions. 

Learn more about the different types of virtual cards.

Quick history of virtual cards for business expenses

Virtual cards first emerged in the early 2000s as a fraud protection tool for online shoppers. Their application quickly expanded into business environments as companies recognized their potential for managing expenses more securely and efficiently. By generating unique card numbers for specific transactions or users, virtual cards help reduce the risk of fraud and control employee spending.

The rise of e-commerce and digital payments has accelerated the adoption of virtual credit cards, especially in industries such as travel and insurance. E-commerce and SaaS and also led the way, using virtual cards for recurring payments like digital ads and subscriptions. The COVID-19 era further boosted the popularity of these cards, as remote-first businesses sought contactless and remote payment solutions​​.

Find the best credit card for ecommerce and retail companies in Canada.

What’s new with virtual credit cards in 2025

Virtual cards aren’t new. But the way Canadian businesses use them has changed dramatically. In 2025, Canadian companies have access to smarter, faster and more secure tools than ever before. The improvements aren’t just convenient. They shape how businesses control spend, protect funds and operate across borders.

Here’s what’s new in 2025: 

1. Smarter controls: Finance teams can set detailed rules at the merchant, department or transaction level. This means recurring expenses like software or ads are easy to manage, while one-off purchases stay under control.

2. Stronger security: Providers now use advanced tokenization and AI-driven fraud detection to flag unusual activity in real-time, adding another layer of defence against rising cyber threats.

3. Global flexibility: With more Canadian businesses working internationally, no-FX-fee USD virtual cards are now the norm on platforms like Float. This reduces costs for cross-border purchases and simplifies reporting.

4. Faster setup: Traditional banks can take weeks to issue cards. Modern platforms now let you open accounts and start issuing unlimited CAD and USD cards in as little as one business day.

Many US-based fintechs only issue USD cards and require US bank accounts, forcing Canadian companies to absorb costly FX fees or create workarounds. Float is built in Canada for Canadian companies. It offers CAD and USD Visa and Mastercard options, CRA-compliant reporting and integrations with the accounting tools Canadian businesses already use like QuickBooks, Xero and Netsuite.

In 2025, virtual cards are more than just a secure way to pay online. They’ve become a core financial tool, helping businesses manage distributed teams, streamline expenses and stay competitive in a digital-first economy.

Virtual vs. physical cards

So what are the big differences between virtual and physical cards on a platform like Float? Let’s break down the differences.

Feature	Virtual	Physical
No personal guarantee	✅	✅
Real-time spend insights	✅	✅
Recurring and temporary limits	✅	✅
Automatic receipt capture and matching	✅	✅
Instantly issued	✅	❌
Unlimited cards	✅	❌
Tap-enabled	✅* *Through mobile wallet	✅

**Conditions apply. Book a demo with our team for more details.

Benefits of using a virtual credit card

Now that you know the basics of virtual cards, let’s walk through some of their main advantages.

• Enhanced security: Virtual cards protect your real card number, reducing the risk of fraud and stolen information. 
• Customizable controls: Many issuers allow you to set spending limits or expiration dates on virtual cards, giving you more control over online transactions.
• Convenience: Generate virtual cards in seconds online without the hassle of waiting for a physical card to arrive in the mail.
• Privacy: Each virtual number is unique, helping limit data tracking by advertisers and keeping your personal details private.

Security benefits: Virtual vs. physical credit cards

Security is one of the biggest reasons businesses are turning to virtual credit cards. Unlike physical cards, which can be lost, stolen or skimmed, virtual cards exist only in a secure digital format. Each card number is unique, making it significantly harder for fraudsters to exploit. For finance teams in Canada, this added protection helps prevent fraud before it ever reaches the books.

One of the strongest security features of virtual cards is their flexibility. You can issue cards that work once, or cards tied to specific merchants or recurring payments. That means you contain the risk if something goes wrong. In contrast, physical cards can expose the entire account when compromised (e.g. if a company is card sharing), forcing a full cancellation and reissue.

Key security benefits

Some other key security benefits of virtual cards include:

• Single-use numbers: Ideal for one-time payments, as they expire immediately after use.
• Custom limits: Set strict caps by vendor, category or transaction type.
• Reduced exposure: A compromised virtual number can be shut down instantly, without affecting other spending.
• Real-time alerts: Unusual charges trigger immediate notifications, letting finance teams act quickly.

Physical cards from traditional providers lack these built-in controls. If a wallet is stolen or card data is skimmed, you have to cancel the entire card. This causes delays in employee spending and creates reconciliation headaches. However, virtual cards minimize disruption. Cancel the compromised number, immediately issue a new one and the rest of your company’s payments keep running smoothly.

For Canadian businesses navigating higher online transaction volumes and rising fraud attempts, virtual cards provide a powerful layer of defence. They don’t just make payments safer, they also give finance leaders confidence that company funds are being spent securely and with full visibility.

Want more ways to protect your business? Explore our full guide on credit card fraud prevention strategies.

Virtual credit cards for remote Canadian teams

Remote and hybrid work are still common for many Canadian companies. Employees may be spread across provinces, contractors abroad and finance teams are often lean. Traditional corporate card programs—where employees wait weeks for a physical card—don’t match this reality. Virtual cards do.

With virtual cards, finance teams can issue cards instantly from anywhere. That means:

• A new hire in Vancouver can be equipped with a company card on their first day.
• A contractor in Montreal can be given a project-specific card for vendor payments.
• A marketing manager in Toronto can run digital ad campaigns without needing to borrow someone else’s card.

No delays, no card-sharing and no more waiting on the mail (hello, postal strikes). 

Each card can be tied to a role, project or subscription, with limits set upfront. Finance leaders see spend in real time, rather than waiting until the end of the month. That means fewer bottlenecks and better visibility across the organization.

Virtual cards bridge the gap for Canadian businesses with distributed or international teams, giving employees the flexibility to move fast, and finance leaders the visibility to keep spend on track.

How to get a virtual credit card in Canada

To get started with virtual credit cards, check if your current credit card issuer offers this feature. If so, simply log into your online account or mobile app to generate a virtual number. Unfortunately, Canada’s major banks do not offer virtual cards for small businesses. And, while there are a growing number of fintech providers who do, their offerings may require your business either A) to meet certain criteria (eg. be in business for a certain amount of time or be a certain size) or B) issue only USD cards because they’re a US-based provider. The good news is that Float is built in Canada and offers best-in-class virtual card solutions for businesses.

How to implement virtual credit cards in your business

Rolling out virtual credit cards is easier than most finance teams expect. Unlike traditional corporate card programs that can take weeks, modern providers let you set up accounts and issue cards in less than a day. With the right approach, you can have your business running on virtual cards quickly and with minimal disruption.

The first step is choosing the right provider. For Canadian businesses, this often means looking for a platform that:

• Offers both CAD and USD cards (most US providers only offer USD)
• Integrates with local accounting tools like QuickBooks and Xero
• Doesn’t require a personal guarantee or credit checks, which Canadian banks often demand
• Doesn’t require a US entity or bank account
• Provides unlimited card issuance at no extra cost

Finance leaders should create clear policies once they have a platform selected. Decide who gets access to cards, when new cards are created and what limits apply—for example, vendor payments. Setting these rules early ensures everyone uses cards responsibly and within budget.

The next step is to integrate virtual cards with your expense management and accounting systems. This way, every transaction is categorized automatically, receipts are matched in real time and reconciliation happens faster. Employees should also be trained on how to use their cards: what expenses are allowed, how to upload receipts and how to request new cards.

By following these steps, Canadian businesses can roll out virtual cards with confidence—without relying on US solutions that don’t fit their banking or compliance needs.

For more, discover more on how to build a business credit card policy that fits your company.

Using your virtual credit card

Using a virtual credit card is essentially the same as using your regular card for online purchases. Simply shop online as usual, inputting your virtual card number, expiration and CVV at checkout instead of your physical card details. If you have recurring payments, you may want to generate a virtual card that doesn’t expire after a single use. 

Keep in mind that virtual cards aren’t accepted for all in-person purchases or transactions that require your physical card, such as picking up tickets or checking into a hotel. However, if you need to make a return, the refund will still be credited back to your account even if you used a single-use virtual number.

Virtual cards vs. digital wallets

Both virtual cards and digital wallets help keep your actual card number private during transactions, but they work in slightly different ways. Digital wallets like Apple Pay and Google Pay enable you to make payments in-person or online using your mobile device. In contrast, virtual card numbers are typically intended for online use only. However, you can often store your virtual credit card in your digital wallet for easy access and added security when shopping on your phone or computer.

Virtual credit card integration with Canadian accounting software

One of the biggest advantages of virtual credit cards is their seamless integration with accounting tools. For Canadian businesses using QuickBooks, Xero or Netsuite, this connection turns what used to be hours of manual reconciliation into a fully automated process. Instead of chasing receipts or entering transactions by hand, everything flows directly into your books.

With the right provider, you get:

• Real-time transaction sync: Purchases appear instantly in your accounting platform.
• Automatic receipt matching: Employees upload a receipt once and the system attaches it to the right transaction.
• Audit-ready records: Every payment is tracked and categorized, making month-end and tax season much smoother.

This automation doesn’t just save time. It also reduces errors. Manual data entry is prone to mistakes and misplaced receipts can create compliance headaches. Additionally, US-based virtual card providers often do not prioritize Canadian integrations. That means QuickBooks or Xero Canadian users usually face broken connections or workarounds. By using virtual cards designed for Canadians that link directly with your accounting software, finance teams can be confident that records are complete and accurate.

For a deeper dive into how automation can save time and reduce errors, check out our guide to credit card expense management.

Integration also makes it easier to keep spending under control. Dashboards show exactly where money is going, whether that’s to subscriptions, digital advertising or cross-border vendor payments. For Canadian companies that need to manage both CAD and USD expenses, having all transactions consolidated in a single central system simplifies oversight and reporting.

The result is a finance process that feels lighter and more efficient. Instead of spending hours cleaning up spreadsheets, your team can focus on higher-value work like forecasting and strategy. 

Discover how Float’s corporate cards platform empowers Canadian businesses.

Choosing the right corporate virtual card in Canada: Float

When deciding on a credit card with virtual card capabilities, consider factors like rewards, benefits and Float features, in addition to the ease of generating virtual numbers. Look for a card and issuer that makes it simple to create virtual cards, with options to set controls like spending limits and expiration dates. If you’re a business owner, choosing a corporate card with robust virtual card features can help manage employee spending and prevent fraud.

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Virtual credit cards offer a secure and convenient way to shop online, giving you greater control over your transactions and peace of mind knowing your sensitive information is protected. Join the growing number of savvy consumers and businesses who trust us to provide innovative payment solutions tailored to their needs.

Frequently Asked Questions

What are virtual cards?

Virtual cards are the same as a traditional physical card with the exception that the card number for these cards is presented digitally. You can create and cancel virtual cards for any purchase and set custom limits on a per-card level to avoid overcharges from the vendors.

Float’s virtual cards are excellent for recurring subscription expenses, digital ad spend and one-off small employee purchases, as they can be added into Apple or Android Wallet and deleted once the purchase is complete. Float’s Essentials plan offers unlimited virtual cards and less than 10 minutes account application time.

How do Float’s virtual cards work?

Visa issues float’s virtual cards for CAD cards and Mastercard for USD spending. They offer direct 1% cash back on all categories after the first $25,000 of monthly spend. Float operates on a Charge Card or Prepaid funding model. The prepaid model offers up to 4% on CAD or USD balances ≥ $50,000 (up to $1M), 2% below $50,000,, with no cash lockups, and account opening is completed in under 24 hours.

How do I apply for a Float corporate card?

Signing up for Float takes under 10 minutes and can be done entirely online. Float does not require any personal guarantees and does not perform credit checks to open your account.

How much does Float cost?

Float is Free to use on our Essentials plan, where you will be able to issue unlimited virtual CAD/USD cards, earn up to 4% interest on deposits, reimburse employees and pay vendor bills. If you need more sophisticated functionality, like over 20 physical cards, Netsuite integration, or an API solution, consider our paid Professional and Enterprise plans.

Does Float offer a credit card limit?

Float offers Charge Card and Prepaid funding models. You can apply* for unsecured, 30-day credit terms with high limits up to $3M, no credit checks and personal guarantees. Both models offer up to 4% interest on all deposits, with no cash lockups, and account opening is completed in under 24 hours.

How does Float help businesses save 7% of their spend?

Unlike traditional cards that encourage spend, Float is the only corporate card in Canada that helps businesses spend less. Through a combination of financial rewards like our 1% cashback for spend above $25,000, up to 4% interest on deposits, no FX fees with our USD cards and time savings of at least 8 hours per employee, Float customers save an average of 7% on their spend.

Running a Canadian business means more than just keeping the lights on—it’s about scaling smarter, spending strategically and maximizing every dollar. Whether you’re a startup founder, a finance lead at a growing company or managing expenses for a larger organization, choosing the right business credit card can have a major impact on your bottom line. 

This is especially key given how credit is such a critical topic for businesses. Nearly 30% of independent Canadian businesses surveyed still carry pandemic-related debt, with an average balance of $65,000. Although credit card fees have decreased, only 7% of eligible businesses have realized savings. 

But here’s the catch: not all business credit cards are built for how you do business. That’s where this guide comes in. We’ll help you find the one that pulls its weight.

Try Float for free

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by Canadians, for Canadian Businesses.

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What is a business credit card?

A business credit card is exactly what it sounds like—a credit card built for business spending. Whether you’re a sole proprietor or running an incorporated company, a business card helps keep your work expenses separate from your personal ones (because no one wants to sort through a messy statement at tax time).

But it’s not just about staying organized. Business credit cards often come with perks tailored to how companies spend. They can also help you smooth out cash flow, cover short-term expenses and build your business credit profile, which comes in handy when it’s time to scale up.

Why are business credit cards important?

Running a small business in Canada means wearing a lot of hats—and tracking expenses is one you can’t afford to drop. Here’s why it’s important and how to do it right. 

Why expense management matters

From tax time to audit season, strong expense management helps you stay compliant, save money and make smarter decisions.

• Keeps you compliant with CRA regulations
• Enables you to claim tax rebates and benefits
• Prepares you for potential audits
• Provides clear insights into your business finances

Key responsibilities of small business owners

These key responsibilities aren’t just best practices; they’re must-dos if you want to stay onside with the CRA and unlock financial benefits.

Accurate tracking

You’re responsible for recording all business expenses and reporting them correctly to the CRA.

Tax rebate opportunities

Proper expense tracking allows you to apply for GST, HST and other tax rebates in Canada, potentially saving your company significant money.

Audit readiness

Good record-keeping ensures you can pass an audit if one comes your way, reducing stress and potential penalties.

Can I use a personal credit card for business expenses instead of a business credit card?

The debate between using a personal credit card or business credit card is common. After all, as a small business in Canada, using a personal credit card can feel like the easiest option for you as you grow your business.

But it’s not always the cleanest. When you have a dedicated business card, you benefit from: 

• Separate personal and company finances
• Building business credit
• Capitalizing on higher spending limit offers
• Company-specific rewards and perks
• A cleaner and more straightforward tax season

Sounds good, right? Now, let’s check out the different kinds of business credit cards available for small businesses in Canada. 

Types of small business credit cards in Canada

There are two main types of small business credit cards in Canada: cards from traditional banks and cards from modern fintech providers.

Traditional banks offer corporate cards with familiar perks. However, banks often design these cards with larger, established companies in mind, which means higher fees, more paperwork and slower approval processes. In some cases, we’re talking about weeks to open a credit card—if you get approved at all.

On the other hand, fintech providers are bringing business credit cards into the modern age. With fast approvals, virtual cards, real-time expense tracking and integrations that actually talk to your accounting software, they’re built for businesses that want more control and less hassle. For example, you can open an account with Float and get started with a corporate card in close to 24 hours.

💡Pro tip: This is also a good time to learn about the different types of credit and charge cards that small businesses can leverage.

Learn more about Float

Get a 10-minute guided tour through our platform.

See a Demo

5 best practices for business credit card use in Canada

Whether you’re just starting out or scaling up, a few smart habits can help you avoid unnecessary costs, build credit, and make the most of your spending. 

Here are 5 best practices to keep your business finances on track:

1. Keep business and personal spending separate

Mixing expenses can get messy, especially at tax time. Use your business card strictly for business to stay organized and protect yourself legally if you’re incorporated.

2. Pay off your balance every month

Interest charges can quickly eat into your cash flow. Paying in full helps you avoid fees and can boost your business credit score over time.

3. Don’t spend right up to your limit

High credit usage can hurt your credit score. Keep it under control by tracking your spending or making early payments mid-month.

4. Pick a card that pays you back

Look for a card with low fees and rewards that match your business’s spending, whether on travel, office supplies, or digital tools.

5. Avoid cash advances

They’re pricey. If a vendor doesn’t take cards, consider other financing options instead of pulling cash from your line of credit. 

What makes a business credit card the “best” for Canadian companies?

The best business cards for Canadian companies are more than just tools for making purchases. They’re financial enablers. Whether you’re scaling a tech startup in Toronto or managing supplier payments for your small business in Calgary, the right card should adapt to your unique needs, not the other way around. 

Key features to look for

These features help Canadian businesses improve cash flow, simplify expense management and reduce administrative burden. Instead of chasing receipts or worrying about employee misuse, you can focus on growth and strategy.

• High or flexible credit limits: Support larger purchases and give your business room to grow.
• Low or no annual fees: Keep operating costs predictable and save that cash for more business-critical expenses.
• Reward structures that match your spending: Earn cashback or points on the categories you use most, like office supplies, advertising or travel.
• Seamless integration with accounting tools: Save hours of reconciliation and reduce errors.
• Built-in spend controls and reporting: Empower employees while maintaining oversight.
• Fast approvals with low paperwork: Get access when you need it, not weeks later.
• Strong customer support: Quick help if something goes wrong. Bonus points if they’re based in Canada—you can know you’ll get the exact support you’ll need, tailored to Canadian businesses. 

Traditional credit cards vs. a modern expense management solution: which provides the best business credit cards?

Many business owners default to big bank credit cards, often because they seem like the only option. They’re also familiar. Getting a credit card for your business and personal spending from the same bank should make the most sense, right? 

But most traditional business credit cards weren’t built for modern, fast-moving teams. They often come with: 

• Personal guarantees that put your credit at risk
• Lengthy application processes
• Low starting limits
• High interest rates (often 19-25%)
• Little or poor integration with the tools your team already uses. 

That’s why Canadian businesses are now exploring alternatives, like corporate payment cards with built-in controls, instant approvals and no personal liability. 

Our criteria for the best business credit card

To help you choose the right option, we compared each card based on: 

• Application speed and requirements
• Fee structure and value
• Rewards earning potential 
• Credit limits and flexibility
• Canadian business suitability
• User experience and technology
• Customer support quality 

We’ve also considered how traditional business credit cards stack up against modern alternatives like Float. 

💡Pro tip: Travel a lot for business? Check out our list of the best business credit cards for travel, specifically for Canadian companies.

Best business credit cards in Canada: detailed reviews 

Here are our top picks for 2025, with detailed pros, cons and use cases for each. 

• Float Corporate Card – Best all-around pick for spend control, scale, and cashback
• American Express Corporate Platinum Card – Best for executive travel and perks
• BMO Cashback Business Mastercard – Best no-fee traditional bank credit card
• RBC Avion Visa Infinite Business – Best for travel rewards
• TD Business Travel Visa Card – Best for Expedia bookings 
• CIBC Aventura Visa for Business – Best for flexible rewards
• Scotiabank Passport Visa Infinite Business – Best for no foreign transaction fees

Float Corporate Card – Best all-around pick for spend control, scale, and cashback

Pros:

• No annual fees or personal guarantees
• Cards issued in CAD and USD with high limits—up to $1 M+/up to $3 M depending on funding model
• No foreign transaction fees for USD/CAD spends, only a 0.25% FX rate applied
• 1% cashback on business spending (monthly spend above $25K); earn up to 4% interest on balances
• Integrated expense management, receipt capture and bill pay powered by smart automation

Cons:

• Not a traditional credit card
• Prepaid funding model may require operational adjustments

Rewards structure:

• 1% cashback on all spend 
• Up to 4% interest paid on deposits 

Fee analysis:

• Float’s Essentials plan is free. No card fees and up to 20 physical and unlimited virtual cards. 
• Professional plans (~$100/user/month) unlock unlimited cards and advanced features. 
• Cashback blends with a 4% high-yield business savings model, and foreign FX fees are minimized.

Application requirements:

• Quick 5‑minute application process
• Most companies are approved within one business day
• No personal credit checks or personal liability requests

Best for: Scaling teams who want more control, faster onboarding and built-in software that eliminates expense report chaos. 

User experience insights: Float receives consistent praise for its intuitive platform and modern tools. Reddit users highlighted the zero foreign exchange fees along with online receipt capture and virtual cards. Float’s real-time visibility into transactions, customizable spend limits, auto receipt capture and instant issue virtual cards are flagged as standout features, especially compared to traditional bank offerings.

Real‑world use case: A Canadian digital marketing agency adopted Float to eliminate reliance on personal credit cards and reimbursements. Receipts upload instantly from employees’ mobile apps; finance staff reconcile expenses in QuickBooks automatically, saving over 8 hours/month in admin work. With USD ad spend and platform fees, the agency saved about 2.5% on FX costs annually. The company’s average $30,000 monthly spend earned cashback and interest simultaneously, helping smooth cash flow and offset recurring operational costs. Float’s centralized approval flows and real-time alerts noticeably improved budget compliance and policy enforcement.

Learn more about Float

Get a 10-minute guided tour through our platform.

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American Express Corporate Platinum Card – Best for executive travel and perks

Pros: 

• Premium travel and lifestyle benefits
• Extensive airport lounge access
• Comprehensive travel and purchase protection
• Flexible Membership Rewards program

Cons: 

• High annual fee
• Overkill for smaller teams or companies with low travel spend
• Not accepted everywhere, especially with smaller vendors

Rewards structure: 

• 1.25 membership rewards points per $1 on all purchases
• Points can be redeemed for travel, gift cards, statement credits and more

Fee analysis: 

• With $499 in annual fees, but $0 for additional cards, this card can be a good option for bigger firms that have high travel needs.

Application requirements: 

• Corporate structure with qualifying revenue and credit profile (minimum credit score of 725)
• Employee card management program
• Creditworthiness and volume of spend assessed by Amex

Best for: Large Canadian businesses and executive teams that prioritize luxury travel, convenience and premium service.

User experience insights: Cardholders were enthusiastic about the benefits and perks of using the card, particularly the travel points and airport lounge access, plus advantages such as priority lanes for events and more. Users have noted that customer service levels are good. 

Read more: Float vs. Amex

Real-world use case: A professional services firm headquartered in Toronto issues the Corporate Platinum Card to its C-suite travel teams, including partners and senior managers whose roles require frequent trans‑Canada and international travel. These individuals benefit from airport lounge access, travel insurance coverage and concierge support, making logistics simpler and safer. 

Read more: Discover why Coinberry left Amex for Float

BMO Cashback Business Mastercard – Best no-fee traditional bank credit card

Pros:

• No annual fee
• Competitive cashback: 1.5% on gas, office supplies and cell phone/internet bills; 1.75% at Shell gas stations; 0.75% on other purchases
• Extended warranty and purchase insurance coverage

Cons:

• Lower cashback (0.75%) on miscellaneous spend
• Monthly caps on bonus categories limit rewards potential
• Minimal travel perks or premium benefits

Rewards structure:

• 1.5% cashback on gas, office supplies, and cell phone/internet bills for most purchases
• 1.75% cashback at Shell gas stations
• 0.75% cashback across all other expenses

Fee analysis:

• $0 annual fee and no charge for up to 22 employee cards make this a low-risk card for small businesses.

Application requirements:

• Available to Canadian businesses with reasonable credit and proof of activity
• Typical business card qualification applies
• Recommended credit score 660+

Best for: Small businesses and solo entrepreneurs in Canada who want straightforward rewards without annual fees or complicated tracking.

User experience insights: Users appreciate the $0 annual fee and the simplicity of the cashback rewards program, noting that they do not need the travel rewards of competitor business credit cards. Cardholders also appreciate that cashback deposits can be automatically transferred to BMO chequing, savings or InvestorLine accounts. Rewards can be redeemed with as little as $1 earned.

Real‑world use case: A small Vancouver-based graphic design studio operating with a lean team of three uses this card for everyday purchases: fuel for client site visits, office supplies and recurring cell phone and internet bills. With low overhead, they appreciate that each employee can carry a card without additional fees. Over time, they redeem cashback monthly directly into their BMO business account, helping to offset operational costs. 

Read more: Float vs. BMO

RBC Avion Visa Infinite Business – Best for travel rewards

Pros: 

• Flat 1.25 Avion points per $1 on all eligible purchases (up to $75,000/year) 
• Flexible redemption: transfer to airline partners or use RBC’s Air Travel Schedule with fixed pricing 
• Strong travel insurance package: emergency medical, trip cancellation/interruption, delayed baggage, mobile device insurance and more

Cons:

• $175 annual fee; additional cards cost $75 each 
• 2.5% foreign transaction fee on purchases outside CAD 
• Earnings beyond $75,000 drop to 1 point/$1 annually 

Rewards structure:

• 1.25 Avion points per $1 spent 
• Bonus offers for new users 

Fee analysis:

• With a $175 annual fee, you’ll need consistent spend to offset costs. But given the welcome bonus (typically 35,000 Avion points, ~CAD $700–$1,100 in value), and flexible redemptions, the perks are strong for travelling businesses. 

Application requirements:

• Canadian business owner with good to excellent credit
• RBC often requests proof of revenue or creditworthiness 
• Minimum personal income usually starts around $60,000 or business revenue approx $500K/year

Best for: Businesses with frequent travel needs looking to earn and redeem points on flights and hotels. 

User experience insights: Cardholders mention consistently strong welcome bonuses for new users, flexible and straightforward points redemption and strong travel and retail insurance. However, they point out that cashback rates could be improved and that foreign transaction fees are high. 

Real‑world use case: A Calgary-based consultant travels across Canada once a month and occasionally abroad. With $10,000/month in business spend (about $6,000 on regular purchases and about $4,000 on travel), she earned 35,000 points as a welcome bonus plus around 11,000 Avion points within two months. Using the Air Travel Redemption Schedule and occasional partner transfers, she booked discounted flights and saved on insurance-related claims. 

Read more: Float vs. RBC

TD Business Travel Visa Card – Best for Expedia bookings 

Pros: 

• Earn 9 TD Rewards Points per $1 on travel booked via Expedia for TD online; 6 points per $1 spent on foreign currency purchases.
• Solid earn rates of 6 points per $1 on dining, public transit, EV charging and streaming/recurring bills
• Generous travel insurance coverage includes medical emergencies, trip cancellation/interruption, delayed baggage, rental car damage, and purchase protection

Cons: 

• $149 annual fee (rebated in first year under current offer)
• 2.5% foreign transaction fee applies after $80,000 foreign spend cap is reached
• Limited value on non-travel spend at the base 2 points per $1 rate

Rewards structure:

• 9x points on travel via Expedia for TD online
• 6x points for purchases in foreign currency, dining, public transit, EV charging, and recurring bills
• 2x points on all other eligible business spend

Fee analysis:

• $149 annual fee per primary cardholder, full rebate in first year for primary and up to two additional cards if spend thresholds met
• 2.5% foreign currency conversion fee beyond $80,000 annual foreign spend cap

Application requirements:

• Available to Canadian businesses with fair-to-excellent credit and standard business documentation
• Personal guarantee required as per typical bank credit card

Best for: Businesses that book travel frequently, especially through Expedia for TD, so they can maximize points on corporate travel.

User experience insights: Users consistently praise the flexibility and value of the Expedia for TD platform. The online booking process mirrors standard Expedia but includes exclusive price-matching and a dedicated 24/7 support team for TD travellers.

Real‑world use case: A Canadian software startup with teams in Toronto and Montreal used TD’s Business Travel Visa for trips to client sites across provinces and international engagements. They average $12,000/month in business spend—primarily travel and recurring services. By booking all flights and hotels through Expedia for TD, the firm earned 120,000 bonus points in its first year (including 30,000 welcome bonus points and monthly spend bonuses), redeeming them for about $600 in credit on airfares.

Read more: Float vs. TD

CIBC Aventura Visa for Business – Best for flexible rewards

Pros: 

• Earn up to 2x Aventura points per $1 on travel booked via CIBC Rewards Centre; 1.5x to 1x on everything else.
• Welcome bonus up to 70,000 Aventura points with spending thresholds in the first 8 months 
• Comprehensive travel protections (flight delay, trip cancellation/interruption, baggage delay, rental car damage and more)

Cons: 

• Requires travel booked through CIBC portal to earn top-tier points
• Annual fee (~$120, with optional $180 tier for lower interest rates) 
• Foreign transaction fee ~2.5% on non‑CAD purchases

Rewards structure:

• 2x on travel booked through CIBC Rewards Centre
• 1.5x on gas, travel, dining
• 1x on everything else 

Fee analysis:

• The standard $120 annual fee is reasonable, but each additional card will cost $50 (up to nine cards), which may not be scalable for bigger teams. If interest rates are a concern, CIBC offers a more expensive annual fee of $180 for a reduced rate of 12.99%.

Application requirements:

• Available to Canadian businesses, sole proprietors or corporations
• Personal income threshold starts at ~$35,000 or a business revenue submission is accepted

Best for: Companies that prioritize flexible travel rewards and prefer redeeming points for flights and hotels across multiple airlines and providers.

User experience insights: Users appreciate the flexibility of the Aventura program, especially compared to Aeroplan, which restricts flights to Air Canada. The included travel insurance, covering flight cancellations, delays and rental car damage, is another popular feature. Some cardholders have also noted that fares booked through CIBC’s Rewards Centre are occasionally better than those found on third-party travel platforms.

Real‑world use case: A wholesale electronics distributor based in Mississauga issues the CIBC Aventura Business Card to their purchasing and logistics leads. With monthly spending of about $10,000 on fuel, hotels and recurring supplier payments, they earned over 50,000 Aventura points in just five months, thanks to 1.5x rewards on gas and travel and 2x when booking through the CIBC Rewards Centre. The company redeemed points for flights to trade expos and conferences.

Read more: Float vs. CIBC

Scotiabank Passport Visa Infinite Business – Best for no foreign transaction fees

Pros:

• No foreign transaction fees on purchases in any currency. Scotiabank waives the typical 2.5% FX markup.
• 1.5 Scene+ points per $1 spent on all business purchases (flat earn rate) 
• Six complimentary lounge visits per year through the Visa Airport Companion Program (via DragonPass)
• Strong travel insurance package: emergency medical, trip cancellation/interruption, flight delay, lost/delayed baggage and rental car collision coverage 

Cons:

• $199 annual fee may be pricey for businesses with limited travel or foreign spend
• Flat rewards structure lacks enhanced bonuses for specific categories

Rewards structure:

• 1.5x Scene+ points per $1 on all purchases 

Fee analysis:

• $199 annual fee for primary card; first supplementary card free, additional ~$50 each. 
• Key benefit: Waived 2.5% FX fee can yield significant savings for businesses that make frequent foreign or USD-denominated purchases, often exceeding $100 in savings in the first year alone

Application requirements:

• Available to Canadian businesses, including corporations and sole proprietors, with an acceptable credit history
• A personal guarantee is typically required

Best for: Businesses that frequently make international purchases and want to avoid FX fees.

User experience insights: Users consistently highlight the Passport Business card’s FX-free model: purchases abroad or in CAD using foreign vendors aren’t charged extra; only the Visa rate applies. Many travelers also appreciate the annual six Priority Pass lounge vouchers. 

Real‑world use case: A Vancouver-based export company frequently purchases goods from Europe and pays vendors in Euros and USD. By using the Scotiabank Passport Business Card for these purchases, they eliminated the typical 2.5% FX fee. With a consistent $20,000/month business spend, they earned ~360,000 Scene+ points and utilized lounge access at Toronto Pearson and Montreal-Trudeau for their staff during travel for international meetings. 

Business credit cards comparison chart 2025

Let’s dig into a few of the contenders for the best Canadian business credit cards and see how their rewards, annual fees, user experience and other factors stack up. 

Card Name	Best For	Rewards	Annual Fee	Credit Limit	Application Speed	FX Fees	User Experience
Float Corporate Card	Spend control & scalability	1% cashback + 4% on idle balances	$0	Up to $1M+	1 day	0.25% FX (90% cheaper than competitors)	Real-time controls, receipt automation, multi-card issuing, top-rated UX
Amex Corporate Platinum	Executive travel & perks	1.25x Membership Rewards on all spend	$499	High	5–7 days	Yes	Premium concierge, global lounge access, elite travel tools
BMO Cashback Business Mastercard	No-fee cashback	1.5% gas & office supplies, 1.75% at Shell, 0.75% base	$0	Low to moderate	Fast	Yes	Simple app, easy reconciliation, solid QuickBooks integration
RBC Avion Visa Infinite Business	Travel rewards	1.25x Avion points on all spend	$175	High	1 week	Yes	Concierge praised, good travel tools, point pooling via RBC Avion
TD Business Travel Visa	Expedia bookings	9x Expedia for TD, 6x travel/dining, 2x base	$149	High	3–5 days	Yes	Expedia for TD offers great redemption value, tools for mobile and card control
CIBC Aventura Visa for Business	Flexible travel rewards	2x via CIBC Travel, 1.5x gas/dining, 1x base	$120	Moderate to high	Moderate	Yes	Strong control tools, multi-user dashboard, QuickBooks/Xero friendly
Scotiabank Passport Visa Infinite Business	No FX fees	1.5x Scene+ flat rate	$199	High	1 week	No	Consistent FX-free performance, lounge access, basic but functional travel features

Why smart Canadian businesses are moving beyond traditional credit cards

Today’s Canadian businesses are scaling faster, managing more complex operations and expecting more from their financial tools. But traditional business credit cards haven’t kept up.

They still rely on outdated processes, personal guarantees and interest-heavy lending models, limiting flexibility just when businesses need it most. 

⭐ Editor’s Choice for Best Business Credit Card for Modern Canadian Businesses: Float

If you’re building a modern finance team, the case for switching is clear.

The traditional credit card problem

Traditional business credit cards come with serious limitations:

• Personal guarantees put your and your employees’ personal credit at risk
• 2 to 4 week approvals slow down urgent purchases and hiring
• Low credit limits ($10K–$50K) restrict growth and vendor payments
• 19 to 25% interest rates chip away at margins and cash flow
• Manual expense management tools add complexity and cost

Float corporate payment cards—the better alternative

Traditional business credit cards were built for a different era when companies moved more slowly and finance teams didn’t have modern expectations. Float is the better alternative for today’s Canadian businesses.

Float solves your business credit card problems with:

• No personal guarantees: Protect your founders and finance leaders
• Real-time spend controls: Set card limits, freeze cards and approve requests instantly
• Built-in software: Ditch the spreadsheets and disconnected expense tools
• High limits: Up to $1M+ to match the pace of your growth
• Instant issuance: Create virtual or physical cards in seconds
• Multi-currency ready: Issue CAD or USD cards with transparent FX

Whether you’re managing ad spend, travel budgets, vendor payments or team expenses, Float gives you full visibility and control.

Real Results: How Canadian Businesses Are Scaling Smarter with the right business credit cards 

Many growing companies across Canada are rethinking how they manage spending—and seeing major results by combining the right credit tools with Float.

Ocean Wise

Ocean Wise, a rapidly growing conservation organization, needed a modern solution to handle their complex funding. With Float, they saved 1,200+ hours annually on admin, 12 minutes on every single transaction done, and accomplished all of this with no new hires. 

Impact Kitchen

Impact Kitchen’s three-person finance team struggled with fragmented credit card programs, manual processes, and constant resets that slowed operations and delayed month-end close. A partnership with Float saved them 100+ hours across 500+ transactions and seven restaurant locations. 

Viva

Viva’s reliance on co-founders’ personal cards buried the team in manual admin work, from reconciling expenses to handling every purchase detail. The switch to Float saved them 8+ hours a month on reconciliation while saving over $1.1K per month on FX fees. 

Get started with Float 

Choosing the right business credit card can make a big difference in how you manage spending and earn rewards. Whether you’re focused on cashback, travel perks, or better expense tracking, there’s a card that fits your business needs. And with tools like Float, you can take control of company spending—no matter which card you use.

Ready to upgrade? Learn more about Float’s corporate payment solutions

Try Float for free

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FAQ

Are corporate credit cards the same as business credit cards?

Not quite. Corporate cards are typically for larger companies and often require the business to be liable for charges.

Can I use my business credit card for personal expenses?

It’s not recommended. Mixing personal and business expenses can create accounting headaches.

How do business credit cards help to build business credit?

Regular use and timely payments on a business credit card are reported to business credit bureaus, helping establish your company’s credit history.

What is the best credit card for business owners?

If you are a business owner, we recommend choosing a company credit card that doesn’t require personal background checks, can offer you high credit limits, and is easy to get started with! Float is a great option with no personal guarantee requirements!

What are the best business credit cards for new Canadian businesses in 2025?

The answer varies depending on the businesses’ needs, but for SMBs looking to scale, the Float corporate card offers fast approval, no personal guarantees and built-in spend controls. This makes it ideal for growing teams.

Which business credit card has the highest limit in Canada?

Traditional cards like the RBC Avion Visa Infinite Business or Amex Corporate Platinum can offer high limits for certain qualified applicants. However, Float offers limits of up to $3 million or more, without interest charges, making it the most scalable option for Canadian businesses.

Are there business credit cards with no annual fee in Canada?

Yes. The BMO Cashback Business Mastercard has no annual fee and Float also offers zero fees with unlimited virtual and physical cards included in its Essentials plan.

Should Canadian businesses choose credit cards or corporate payment cards?

For most growing Canadian businesses, a corporate payment card like Float offers more control, efficiency and cost savings. While traditional credit cards may suit companies that need to borrow and carry a balance, they often come with slower approval processes, limited visibility into team spending and interest charges.

Float’s corporate payment cards let you issue cards instantly to team members, set custom limits in real time and avoid interest charges altogether—all while integrating seamlessly with your accounting tools. That means your business can scale without being slowed down by the limits of traditional banking products.

How do business credit cards affect personal credit in Canada?

Most business credit cards require a personal guarantee, meaning missed payments could impact your personal credit score. Float’s corporate card, however, does not require a personal guarantee. This helps you protect your personal credit while building financial autonomy for your business.

As a finance leader, you know that managing corporate credit card expenses can be a time-consuming and error-prone process. Manual data entry, lost receipts and lack of real-time visibility into spending can lead to costly mistakes and missed savings opportunities. That’s where corporate card management software comes in.

In this article, we’ll explore the top corporate card expense management solutions for 2025, highlighting the key features and benefits that can streamline your expense reporting process and provide better control over your company’s spending. Whether you’re a small business owner or a CFO of a large enterprise, you’ll find valuable insights and recommendations to help you choose the right solution for your needs.

What is corporate card expense management?

Corporate card expense management is the process of tracking, categorizing and reconciling credit card transactions. It involves setting spending limits, enforcing expense policies and ensuring compliance. The goal is to streamline the expense reporting process, reduce manual work and gain real-time visibility into company spending.

With the right corporate card management software, businesses can automate credit card expense tracking, integrate transactions directly into accounting systems and reduce the risks of fraud or policy violations. This ensures that finance teams have accurate, up-to-date records of corporate spending while allowing employees to make necessary purchases efficiently.

How corporate card expense management differs from expense management

Corporate card expense management is a specialized subset of expense management that focuses on tracking, categorizing and reconciling corporate credit card transactions in real time. Unlike general expense management, which includes reimbursements, vendor invoices and cash expenses, credit card expense management deals exclusively with company-issued credit cards. This allows businesses to automate tracking, enforce spending controls upfront and reduce manual reconciliation.

A key difference is that corporate credit card expenses are automatically recorded, categorized and matched with policies, whereas general expense management often involves at least some manual submissions and approvals. Credit card management also enables real-time visibility into spending, fraud prevention through virtual cards and transaction limits and seamless integrations with accounting systems.

While both processes aim to control business spending, corporate card expense management offers a more automated, proactive approach compared to the broader, often more reactive, nature of general expense management.

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Corporate cards vs. other payment methods

A well-managed corporate card system can replace multiple outdated methods. It gives you more control and less risk.

Let’s review the pros and cons of different methods:

Payment method	Pros	Cons
Corporate cards	Real-time controls, automated coding, cashback, visibility	Requires upfront setup
Reimbursements	Easy for employees	Policy violation risks, slow reconciliation
Vendor invoices	Suitable for large/recurring payments	Delayed visibility, manual approvals
Petty cash	Immediate access	No visibility, high misuse risk

Benefits of corporate card expense management solutions

Now that you’re clear on what corporate card expense management is, and the pros and cons of using credit cards vs. other payment methods, let’s look at the advantages a corporate card platform can offer. From time-saving automation to enhanced visibility into spending, the right software can transform how your team manages credit card spend.

• Automation: Automate the capture and categorization of credit card transactions to eliminate time-consuming manual data entry.
• Policy enforcement: Enforce spending policies and limits in real-time, reducing the risk of fraud and overspending.
• Simplified reporting: Streamline the expense reporting process for employees with features like receipt management solutions and mobile apps.
• Real-time visibility: Provide finance teams with real-time insight into company spending, enabling more informed budgeting and decision-making.
• Seamless integration: Integrate with accounting systems for seamless expense reconciliation and financial reporting.

With these benefits in mind, it’s clear why Canadian businesses are turning to corporate card platforms to simplify operations and strengthen financial control.

Key features to look for in a corporate card expense management solution

Reaping the benefits of a corporate card platform comes down to choosing the solution that best fits your company’s needs. No two expense management systems are the same, so you’ll want to assess the features of each one you’re considering to determine how they stack up against one another.

Here are a few elements to evaluate:

Convenience

Look for easy issuance of physical or virtual cards. Once the cards are in hand, it should be effortless for employees to capture on-the-go receipts and submit expenses through mobile apps.

Advanced card controls

Restrict transactions to specific merchants with card control. You can also automate expense categorization based on merchant codes and customizable rules.

Security features

Solutions like Float offer real-time reporting and insights, so you have full visibility into transactions as they happen and make decisions faster—especially when something doesn’t look right. Also look for a system with built-in approval workflows and policy enforcement for better transparency.

Card lifecycle management

Find a provider that will enable you to issue physical cards for team members or one-time-use virtual cards for vendors. You should be able to easily update spend limits or ownership transfers, and renew, freeze, cancel or reassign cards instantly. 

Integration

Choose a provider with software that easily integrates with popular accounting solutions like QuickBooks, Xero and NetSuite.

Keep in mind that choosing the right platform isn’t just about ticking feature boxes. The key is to find a system that complements the way your team works, that scales with your business, and that strengthens your financial oversight. 

Top types of corporate card expense management solutions

In addition to assessing features, another way to choose the best corporate card platform for you is to understand the different types of solutions available. For instance, some focus on automating a specific part of the process, while others offer end-to-end functionality.

Here’s a breakdown of the most common types.

• Automated expense reporting: Solutions that eliminate manual data entry and streamline the expense reporting process.
• Smart corporate card programs: Corporate card programs with built-in spend controls and real-time expense notifications.
• Automated receipt matching: Receipt scanning and matching technology for accurate and efficient expense reconciliation.
• Integrated spend management: Spend management guide with budgeting, forecasting, and analytics capabilities.
• All-in-one platforms: Expense management solutions that combine corporate cards, expense reporting, and bill payments into a single platform.

The right solution type for your business will depend on your size, structure and specific pain points—from managing employee expenses to gaining clearer spend insights.

How to choose the right corporate card expense management solution for your business

You’ve now had the crash course in corporate card platform benefits, features and types.

Let’s walk through how to choose a solution in five steps.

• Step 1: Evaluate your current expense management process and identify pain points and inefficiencies.
• Step 2: Determine your key requirements, such as the number of cardholders, expense policy complexity and accounting system integration needs.
• Step 3: Compare features and pricing of different solutions, considering factors like user experience, customer support and scalability.
• Step 4: Look for a provider that offers a free trial or demo to test the solution before committing to it.
• Step 5: Consider the long-term value and ROI of the solution, not just the upfront cost.

Corporate card program setup and administration

Choosing a corporate card expense management solution is only half of the task at hand. Finding success with a new platform also comes down to smart implementation.

Here are three key steps to follow during the setup phase. 

1. Define your policies

Creating clear company credit card policies is key to ensuring compliance and minimizing the risk of misuse. (Say goodbye to the “I thought it was covered” excuse!)

An effective expense policy should outline the types of purchases that are permitted and the approvals required. Similarly, a purchasing policy helps standardize how vendors are paid, regardless of whether a formal purchase order system is used.

If your team travels often, a travel policy should make it crystal clear what’s covered—flights, hotels, meals and all the usual suspects.

To keep things smooth, automated approvals, built-in checks and real-time monitoring can support you in enforcing these policies—no micromanaging required.

2. Communicate with your team

Having a policy is a great start, but it won’t enforce itself. Don’t be shy about clearly communicating expectations and best practices. Training sessions, lunch-and-learns and handy digital guides can all help make your corporate card policies easy to understand (and even easier to follow).

Be sure to cover the real-world stuff too: how to submit expenses, which purchases are allowed and how to request temporary card access when needed. When in doubt, overcommunication beats crossed wires any day.

3. Optimize and evolve

A corporate credit card program isn’t a crock pot—you can’t just set it and forget it. Ongoing oversight is crucial to maintaining efficient operations.

Finance teams should regularly review spending patterns to ensure expenses align with policy and spot areas for improvement. For instance, this can help you catch unnecessary reimbursements that happen simply because someone didn’t have card access.

Don’t overlook the reconciliation process, either. If closing the books still feels like a marathon, it’s probably time to fine-tune your workflows. Consider it your financial check engine light—it’s telling you something needs attention.

End-to-end corporate card expense management for Canadian businesses

As you embark on your journey to streamline your corporate card expense management process, remember that choosing the right software can make all the difference. We invite you to explore the innovative features and benefits of our platform, designed specifically with the needs of modern Canadian businesses in mind. Get started for free today and experience the power of automated corporate card management firsthand.

A business credit card can be a powerful tool—helping you manage cash flow, build business credit and keep personal and business expenses separate. But knowing how to get a business credit card (and which one to choose) isn’t always straightforward.

This comprehensive guide walks you through how to get a business credit card without the headache. From determining your eligibility to submitting your application, you’ll find it all here. We’ve also included tips to maximize your approval odds, along with answers to the most frequently asked questions on these cards from business owners.  

Ready to learn how to get a business credit card? Let’s go!

What is a business credit card?

A business credit card is a type of corporate card designed specifically for business-related expenses—like inventory, software subscriptions, travel and day-to-day operations. It offers companies a flexible way to manage cash flow, track spending and often earn rewards or cash back on purchases. Unlike personal credit cards, business cards also help you build business credit, which can be valuable as your company grows.

Business credit card vs. corporate credit card

In Canada, “business credit card” and “corporate credit card” are often used interchangeably. However, there are differences between the two types of cards.

Business credit cards are designed for entrepreneurs, sole proprietors and small businesses. They require a personal credit check and guarantee, meaning you’re personally liable if the business can’t cover the balance. These cards are ideal for smaller operations with limited expenses. 

Corporate credit cards cater to larger businesses, scaling startups and SMBs with higher spending needs. They offer greater spending limits, advanced expense tracking and automated controls. Unlike with business credit cards, personal guarantees are not required for corporate cards, so your personal credit or assets are not at risk. Approval is based on the financial health of the business and the company is responsible for paying the balance each month, not individual cardholders.

How to get a business credit card in Canada: Prerequisites

While it may seem daunting to get a business card, there are a few steps you can take to simplify the process and maximize your approval odds. 

1. How to get a business credit card: Eligibility requirements

In Canada, businesses must prove their eligibility and often include supporting documentation to apply for a credit card.

• Is the business registered?
• Do you have a valid business number?
• If incorporated, do you have Articles of Incorporation or a Masters Business License?

For more information on registering your business, please visit the Government of Canada website. Province-specific support can be found here. 

2. Gather necessary documentation

Collect key documents such as your business registration, tax ID (EIN) and financial statements. You should also be prepared to provide personal information. For small business owners and operators, please note that your personal credit score may impact your business credit card approval.

Pro tip: Separating your personal and corporate cards is key for protecting your personal credit score. You can find tips for getting approved for a virtual corporate card without hurting your credit score here. 

3. Choose the right card

Evaluate your business needs and spending habits to determine the type of business credit card that best suits your operations.

Consider factors such as:

• Annual percentage rate (APR): The cost to borrow money if you plan on carrying a monthly balance.
• Rewards: These can include points, travel miles, cashback or other perks based on your qualifying spend.
• Fees: Most cards charge an annual fee (although Float doesn’t), so consider if the perks are worth it.
• Additional cards: Are they readily available if you need them for your team?
• Foreign transaction fees: These can add up if you conduct business internationally.
• Insurance coverage: For expenses such as travel, car rentals or technology, are you protected in the event of theft or damage?
• Card type: Do you require physical cards, virtual cards or a combination of formats?
• Digital experience: Can cards be integrated with your existing systems for user-friendly experiences and easy expense tracking?

Pro tip: Before selecting a card, compare the 7 best credit card options for Canadian businesses in 2025.

4. Complete your application

Most credit card applications can be completed online. Ensure all information is accurate and complete, and be prepared to provide additional information if requested by the issuer.

How long does it take to get a business credit card?

Waiting weeks to get approved for a business credit card was once the norm, especially with traditional banks that rely on lengthy review processes and paperwork. But that timeline doesn’t work for fast-moving startups or small businesses that need access to funds now, not next month.

With instant corporate card issuance from providers like Float, you can skip the wait. Instant issuance enables your company to get approved and set up with a business credit card in as little as one day. No branch visits, no red tape—just fast, seamless access to company spend.

Tips on improving your approval odds

Getting approved for a business credit card isn’t always straightforward, especially for early-stage startups or small businesses without a long credit history. But there are a few smart steps you can take to boost your approval odds:

1. Keep your personal credit in good shape

For many new businesses, personal credit plays a big role in the approval process. Here’s how to keep it strong:

• Pay your bills on time and keep your credit use low
• Regularly check your credit report and fix any errors
• Limit the number of hard credit inquiries in a short period

2. Demonstrate business stability

Lenders want to see that your business is stable and reliable. You can demonstrate that by:

• Registering your business properly and keeping your info consistent
• Using a business bank account
• Paying vendors and bills on time to build business credit
• Showing revenue growth or consistent income
• Having a business address and a few months of operating history

3. Apply strategically

Not every card is a fit for every business. Improve your chances by:

• Applying only for cards that align with your business size and financial profile
• Understanding the card issuer’s approval criteria in advance
• Keeping your application accurate and complete

Frequently asked questions

Have credit card application questions? Your answers are here.

What are the eligibility criteria for getting a business credit card?

Eligibility often depends on your business structure and creditworthiness.

Can my personal credit score affect my chances of getting a business credit card?

Yes, a strong personal credit score can increase your chances of approval.

What are the benefits of having a business credit card?

These can include rewards, credit line access and financial separation between personal and business expenses.

Are physical and virtual credit card formats available?

Yes! Depending on your business credit card provider, you can get both physical and virtual credit cards. Float offers both virtual and physical credit cards options for users.

Business credit card application checklist for Canada

Before applying for a business credit card in Canada, ensure you have the following documents and information prepared, as they may be requested throughout the application process:

• Business registration (e.g., Articles of Incorporation, Master Business Licence, or provincial/territorial registration)
• Business Number (BN) issued by the Canada Revenue Agency (CRA)
• Business incorporation documents, such as:
  • Certificate of Incorporation
  • Articles of Incorporation
  • Certificate of Amalgamation (if applicable)
• Recent financial statements, including:
  • Income Statement (Profit & Loss)
  • Balance Sheet
• Business plan (typically required for startups or newly incorporated businesses)
• Government-issued personal identification (e.g., Canadian driver’s licence, passport) for:
  • Authorized signers
  • Beneficial owners (anyone owning 25% or more of the business)

Float’s Know Your Business (KYB) application requirements

When applying for a Float corporate card, you’ll need to provide the following information as part of our KYB verification process:

• Legal entity name
• Principal place of business (legal address)
• Jurisdiction of incorporation (e.g., Ontario, British Columbia)
• Corporate identification number (e.g., Corporation Number or Business Number)
• Business type (e.g., SaaS, retail, professional services)
• Legal structure (e.g., corporation, partnership, sole proprietorship)

Take the next step for your business credit card with Float

Whether you’re launching a new business, scaling operations or looking to separate business from personal expenses, we can help you get a business credit card today. To learn about options that can help you streamline and manage your finances more effectively, contact our team at Float.