Choosing the Right Credit Card for Your Business

Pile of credit cards

Having a dedicated credit card for your business is a convenient way to manage business expenses. All your spending information is available in one easily trackable account, and you can set up multiple users and cards if necessary. Like your personal card, you have a number of options that can help you maximize the rewards you receive from business expenses, so how do you choose the card that is right for you?

Look at your Business Needs

Not all cards are created equal, so it’s important to consider your spending habits and business activities when choosing your card. Each card offers a different benefit for your business – some for free and others that carry an annual fee in return for additional features and rewards.

The No Fee Cash Back Business Mastercard® is a great option for the majority of business owners. With no annual fee, it allows you to earn cash back for the purchases your business regularly makes as well as offers you 90 days purchase protection on purchases made with your card. It also doubles the manufacturer’s warranty (up to one year) on purchases. Cash back rewards give you the flexibility to redeem your points for cash back on your credit card bill, allowing you to re-invest those funds back into your business.

Booking a lot of business travel? The Platinum Business Mastercard® offers trip cancellation and interruption insurance and 24/7 travel assistance, making it an ideal card for regular business travelers. It also earns rewards faster at a rate of 2 points for every $1 spent that can be redeemed for travel or other rewards.

If you need to carry a balance, consider the Low Rate Business Mastercard®. While you don’t earn rewards points, it will minimize the interest you will have to pay in the event that you need to carry a balance month to month. If you regularly carry a balance on your business card, it may be worth it to consider other alternatives such as a Cambrian business line of credit to keep your rate even lower. 

From cash back on your everyday purchases to valuable travel insurance benefits, we have a Mastercard® to fit your business.

To apply for a Cambrian business credit card, visit your local branch or apply online