5 Best Cashback Cards for Businesses in Canada

Running a business in Canada means every expense counts, and so does every opportunity to put money back in your pocket. That’s where business cashback cards come in. They turn everyday business spending into real, tangible returns.

Whether it’s software subscriptions, travel, office supplies, or digital ads, each purchase can generate a percentage back that you can reinvest into growth.

In this guide, we’ll explore five top business cashback cards that strike a balance between rewards, cost savings, and operational benefits for Canadian entrepreneurs. From traditional bank-issued cards to innovative financial platforms like Venn, you’ll see how the right card can streamline expenses, reduce fees, and improve cash flow.

Why Choose a Cash Back Card for Your Business?

Cashback cards remain one of the most straightforward ways for small and medium-sized businesses to save money and reinvest. The benefits extend beyond the rewards rate.

So, what makes a cash back card the best option?

• Direct Financial Returns: Cashback rewards offer a clear percentage back on eligible purchases, without the complexity of points conversions.
• Operational Savings: Common expenses like gas, recurring bills, client lunches, and digital advertising all contribute to rewards over time.
• Low or No Annual Fees: Many leading cards have no annual fee or waive it in the first year.
• Expense Tracking: Most platforms offer detailed transaction reporting or accounting integrations, keeping your books audit-ready.
  
  

There are even some platforms that combine financial management tools with rewards programs, functioning almost like the best corporate card management software for SMBs.

Top 4 Cash Back Cards for Canadian Businesses

Here are our top picks for the best cash back cards available in Canada, each chosen for its balance of rewards, features, and cost efficiency. 

1. Venn Business Mastercard

Note: The Venn Business Mastercard® is a corporate card (prepaid/charge hybrid) rather than a credit card, meaning it offers the benefits of controlled spending without revolving credit or interest charges.

Unlike traditional bank cards, Venn is an all-in-one financial platform for Canadian SMBs. This means you’re not just getting rewards. You’re integrating expense management, global payments, and accounting automation into one streamlined system.

For SMBs evaluating Venn vs Wise for small business use cases, Venn’s no-cap rewards and embedded expense tracking offer more predictable returns.

Cashback & Currency Benefits:

• Flat 1% cashback with no minimum spend required, no caps.
• One card for CAD, USD, GBP, and EUR. Spend in the same currency with no FX conversion fees.
• Multi-currency accounts to hold and use balances directly, reducing exchange costs.

Operational Advantages:

• Local and international payments often arrive on the same or the next business day.
• Two-way sync with QuickBooks and Xero for automated reconciliation.
• Unlimited virtual cards with customizable spending controls.
• Transparent FX markup of just 0.25%, significantly lower than the ~3% charged by many banks.*

*Based on internal analysis of total markups and FX fees charged by major Canadian financial institutions in April 2025.

‍Why Venn Stands Out:

Compared to other fintech solutions, businesses weighing Venn vs Wise for corporate cards prefer Venn’s combination of unlimited cashback, Canadian business-first support, and deep integration with accounting systems

Best For: Businesses that value simplicity, cost savings on international transactions, and multi-user expense management.

2. RBC Business Cash Back Mastercard

This card is a strong contender for businesses with high annual spend. It's a straightforward option with consistent rewards across all spending.

Rewards & Fees:

• 1% cashback on all purchases (no category restrictions)
• Annual cash back cap of $650, unlike Venn which has no cap
• 2% promotional rate for the first three months
• $0 annual fee for primary and one additional card
  

Extra Features:

• Purchase security and extended warranty (up to 1 year)
• Fuel discounts at Petro-Canada and complimentary DoorDash DashPass
  

Best For: Businesses spending $50,000+ annually across varied categories.

3. BMO CashBack Business Mastercard

This is a no-fee business credit card offering steady cashback on everyday business expenses and bonus rates on select categories.

Rewards Programs:

• 1.75 % cashback at Shell® gas stations
• 1.5 % cashback on gas (outside Shell), office supplies, and cell phone and internet payments (drops to 0.75% after $1,000 per category, unlike Venn which is 1% flat)
• 0.75 % unlimited cashback on all other purchases (vs. Venn which is 1% unlimited)
  

Key Features:

• $0 annual fee and $0 for additional employee cards
• 10% cash back in the first three months (capped at $150 and requires at least $1,500 in eligible spend)
• Purchase protection and extended warranty included
  

Best For: Small to medium-sized Canadian businesses with moderate spending in categories like gas, office supplies, and telecom bills.

4. CIBC Costco Business Mastercard

This no-fee card doubles as a Costco membership and is the most aligned for pure cash back benefits. It delivers targeted cashback and convenient redemption via annual gift certificates.

Cashback Rates:

• 3% cash back on restaurants and Costco gas stations in Canada 
• 2% cashback on purchases at Costco.ca and CostcoBusinessCentre.ca
• 2% cash back on shipping and eligible insurance services
• 2% cashback on other gas stations and EV charging
• 1% unlimited cash back on all other purchases, including at Costco warehouses

*Up to $8,000 net annual spend per category, then 1% thereafter.

Key Features:

• $0 annual fee and no charge for up to 9 authorized user cards
• Serves as your Costco membership card
• Earn additional perks on food delivery with a 12-month free Skip+ trial
• Purchase security and extended warranty protection
  

Best For: Businesses that frequently shop at Costco for operational needs (e.g., office supplies, bulk goods, or employee meals) and have significant spending in categories like restaurants, gas, shipping, or insurance.

5. Scotia Momentum® for business Visa* Card

This is a mid-tier business credit card that rewards everyday operational spending with elevated cash back in key business categories. It features a competitive rewards structure with higher rates in categories like gas, dining, office supplies, and recurring payments.

Rewards Programs:

• 3% cash back eligible purchases at gas stations, restaurants, office supply stores, and recurring bill payments (on the first $50,000 combined annual spend)
• 1% cash back on all other purchases and on spending beyond the $50,000 cap
  

Key Features:

• $79 for primary cardholder and $29 per additional employee card
• 2.99% interest rate on balance transfers for the first 6 months (1% fee applies; reverts to 22.99%)
• Comprehensive insurance coverage, including mobile device insurance, purchase security, and extended warranty.
  

Best For: Business owners with annual eligible spends up to $50,000 on fuel, dining, office supplies, and utilities.

Key Features to Look for in a Business Cash Back Card

When comparing the features of business cash back cards, focus on what will bring the most value to your spending patterns and operational needs. Here are the factors to consider when selecting a cash back card

• Rewards Rate & Categories
  The rewards structure of top cash back cards can vary widely. Flat-rate cards like Venn’s are predictable, while tiered business credit cards offer more in specific spend areas.
• Annual Fees vs. Rewards Value
  The cost of cash back cards in Canada can range from $0 to over $150 annually. Always compare projected rewards against the fee to ensure you’re in the green.
• Sign-Up Bonuses
  Many of the best cash back cards for specific categories (e.g., groceries, travel) also come with lucrative welcome offers, often 5–10% cash back for the first few months.
• Scalability & Employee Cards
  Look for multi-user support, free additional cards, and spending controls. This helps to leverage cash back cards for everyday spending while maintaining oversight.
• Expense Integration
  Choose a solution with built-in accounting integration if you want to redeem cash back rewards efficiently without drowning in admin work.
• Security & Fraud Protection
  Strong security measures, such as chip-and-PIN, zero liability, and real-time transaction alerts, are non-negotiable.

Cash Back Cards vs. Traditional Business Credit Cards: Which Is Right for You?

The main difference between cashback business cards and traditional rewards cards lies in how you earn and redeem value.

Traditional cards usually earn points or miles that can be redeemed for travel, merchandise, or gift cards. So, if travel is a major business expense for you, knowing how to optimize cash back rewards for travel versus points is important.

Cashback cards, on the other hand, deliver immediate and predictable savings. A fixed percentage of your spend is returned as cash or statement credits. For many Canadian businesses, this simplicity of earning cash back through purchases is the draw.

Let’s say your business spends $50,000 annually. A 1% flat cash back card will consistently return $500 that you can reinvest directly. No blackout dates, no fluctuating point values.

So, now that you know how cashback business cards stack up against traditional rewards cards, it's time to put that knowledge to work.

Apply for the Venn Business Mastercard® Corporate Card today and turn every business expense into a measurable boost for your business.

Key Takeaways

• The best cashback business card combines strong rewards with features like purchase protection, accounting integration, and multi-user scalability.
• Options like Venn Business Mastercard® go beyond rewards by integrating expense management, multi-currency accounts, and low FX rates into one tool.
• When selecting a cashback card for your business, consider the total cost of ownership, your spending patterns, operational needs, and long-term growth plans.

Frequently Asked Questions (FAQs)

Q: Can I Use My Business Cash Back Card for International Transactions?

Yes. While there are limitations to certain cash back cards, most are accepted worldwide. But many traditional cards charge ~2.5% foreign transaction fees. With Venn, you can spend in CAD, USD, GBP, or EUR with no FX fees when using the matching currency.

Q: Are There Any Hidden Fees With Business Cash Back Cards?

Yes. There are other fees to watch out for with cash back cards, in addition to the annual fees. This includes foreign transaction fees, late payment penalties, cash advance charges, and overlimit fees. You can avoid all these by choosing a card with no FX fees, weighing rewards against annual costs, and paying balances on time. 

Transparency varies by issuer, so read the terms carefully to spot any hidden charges before committing. 

Q: Is Venn’s corporate card suitable for businesses with multiple users?

Absolutely. Venn lets you issue unlimited physical and virtual cards, set individual spending limits, and track all transactions in a central dashboard. This is ideal for teams, distributed workforces, and multi-department companies that need both flexibility and control.

Legal Disclosure: Venn Mastercard® Corporate Card is issued by Peoples Trust Company under licence from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

‍