For many Canadian business owners, choosing a credit card starts with the bank where their business account already lives. RBC, BMO, and CIBC are three of Canada's Big Five banks, and each offers business credit cards designed to complement their banking relationships. But the cards differ meaningfully in annual fees, interest rates, rewards programs, and the type of businesses they serve best.
This guide compares all four major business card products from RBC, BMO, and CIBC: the RBC Avion Visa Infinite Business, the BMO CashBack Business Mastercard, the BMO AIR MILES World Elite Business Mastercard, and the CIBC Aeroplan Visa Business Card. All data has been verified against official bank websites as of April 2026.
Overview: The Four Cards at a Glance
| Card | Annual Fee | Purchase APR | Rewards Program | Welcome Bonus | FX Fee |
|---|---|---|---|---|---|
| RBC Avion Visa Infinite Business | $175 | 19.99% | Avion Points (1.25x on all) | 45,000 Avion points on approval | ~2.5% (verify with RBC) |
| BMO CashBack Business Mastercard | $0 | 20.99% | Cash back (1.5% on key categories) | 10% for first 3 billing cycles | 2.50% |
| BMO AIR MILES World Elite Business Mastercard | $149 (yr 1 waived) | 20.99% | AIR MILES (4x at partners) | 8,000 AIR MILES after $5,000 spend | 2.50% |
| CIBC Aeroplan Visa Business Card | $180 (yr 1 waived) | As low as 12.99% | Aeroplan Points (2x/1.5x/1x) | Up to 75,000 Aeroplan points | ~2.5% (verify with CIBC) |
RBC Avion Visa Infinite Business — $175/Year
The RBC Avion Visa Infinite Business Card is RBC's flagship business rewards card, positioning itself as a flexible points product with a notable welcome bonus and a broad travel insurance package.
Annual Fee and Interest Rate
The primary card costs $175 per year, with additional employee cards at $75 per year each (up to nine additional cards). The purchase APR is 19.99% — one of the lower rates among bank business rewards cards — and the cash advance rate is 22.99%.
Welcome Bonus
RBC currently offers 45,000 Avion points upon approval (offer ends May 18, 2026). At RBC's estimated travel redemption value of up to $900, this is among the more valuable upfront bonuses available from a Canadian bank business card without a spending requirement to unlock it — the points arrive simply on approval.
Rewards Structure
The Avion program earns a flat 1.25 points per dollar on all net purchases, up to $75,000 in annual spending. Above $75,000, the earn rate drops to 1 point per dollar. There are no category bonuses — the card rewards consistent spending rather than concentrating value on specific merchant types.
Avion points transfer to Air Canada Aeroplan (1:1), British Airways Executive Club, WestJet Dollars, and other travel partners. Points can also be redeemed directly through RBC's travel booking engine.
Travel Benefits
Insurance is a strong point for the RBC Avion Visa Infinite Business. Coverage includes out-of-province emergency medical (under 65: first 15 days; 65+: first 3 days), trip cancellation up to $1,500 per person (max $5,000), trip interruption up to $5,000 per person (max $25,000), flight delay coverage up to $250 per day or $500 per trip, and lost/stolen baggage up to $1,000. Mobile device insurance covers up to $2,000 for up to two years — among the most generous device coverage on any Canadian business card. Cardholders also access the Visa Airport Companion program (1,200+ lounges), though visits are generally charged at a per-visit rate beyond any complimentary allotment.
Business Tools
The card includes Visa Spend Clarity for Business, which provides customized expense reports, transaction data export, per-card controls, and receipt capture. RBC also offers a Petro-Canada link that saves 3 cents per litre at the pump and earns 20% more Avion and Petro-Points simultaneously.
BMO CashBack Business Mastercard — $0/Year
The BMO CashBack Business Mastercard is the only card among these four with no annual fee, making it a strong option for businesses that want to avoid fixed card costs or supplement a primary card with a free backup for specific spending categories.
Annual Fee and Interest Rate
There is no annual fee for either the primary card or additional employee cards (up to 22 additional cards at no charge). The purchase APR is 20.99%, and the cash advance rate is 23.99%. A 0% balance transfer promotional rate is available for the first nine months (with a 3% transfer fee).
Welcome Bonus
New cardmembers earn 10% cash back on gas, office supplies, and cellphone/internet bill payments for the first three billing cycles, up to a maximum of $150 in cash back. This welcome offer applies to spending that aligns with the card's core ongoing categories, making it easy to capture the full bonus naturally.
Rewards Structure
On an ongoing basis, the card earns 1.75% cash back at Shell gas stations in Canada (subject to a lifetime account cap of $2,500), 1.5% on eligible gas, office supply purchases, and cellphone/internet bill payments (up to $1,000 per category per statement cycle; 0.75% thereafter), and 0.75% on all other purchases. Cash back is redeemable as a statement credit, a deposit to a BMO account, or other BMO redemption options.
The earn rate is modest compared to premium cash back or points cards, but the absence of an annual fee means every dollar of cash back is pure value rather than offset against a fee. For businesses spending $20,000 per year on gas, office supplies, and telecom, the 1.5% rate returns $300 per year — with nothing paid in annual fees.
Business Tools
The BMO CashBack Business Mastercard includes accounting software integration, expense management tools, and the BMO Liability Waiver Program to protect against unauthorized use by employees. Mastercard Easy Savings provides automatic 1%–25% rebates at qualifying merchants — an underrated benefit for businesses with diverse supplier spending.
BMO AIR MILES World Elite Business Mastercard — $149/Year (First Year Waived)
BMO's premium business card targets AIR MILES collectors — a large segment of Canadian consumers and small businesses already participating in the coalition loyalty program. The $149 annual fee is waived in the first year.
Annual Fee and Interest Rate
The primary card costs $149 per year (first year free). Additional cards are $50 per year each. The purchase APR is 20.99%, and the cash advance and balance transfer rate is 23.99%.
Welcome Bonus
New cardmembers earn 8,000 AIR MILES after spending $5,000 in the first three months. BMO advertises the overall package as offering up to $1,600 in value when accounting for partner benefits and the first-year fee waiver.
Rewards Structure
The card earns 4x AIR MILES at participating AIR MILES Partners (such as Staples and Shell) and 1 AIR MILE per $12 spent on all other purchases. It is important to note how the AIR MILES earn rate translates to a cash equivalent: at approximately $0.105 per Cash Mile, 1 Mile per $12 spent equals roughly 0.875% return on base spending. The 4x partner bonus brings this to approximately 3.5% at partner locations — competitive when those merchants align with your business spending.
Additional Benefits
The card includes Mastercard Travel Pass (DragonPass) membership with discounted lounge access (per-visit fee applies; no complimentary visits included), and five free Maple virtual healthcare consultations per year (valued at approximately $520 by BMO). Travel insurance includes trip interruption, baggage delay, and car rental collision damage waiver — though notably excludes emergency travel medical insurance. The BMO Liability Waiver Program and Mastercard Easy Savings are also included.
AIR MILES Onyx Status
Cardmembers automatically receive AIR MILES Onyx collector status, which provides enhanced rewards and priority processing. A 25% discount on one worldwide AIR MILES flight booking per year (up to 750 Reward Miles off) is also included.
CIBC Aeroplan Visa Business Card — $180/Year (First Year Waived)
The CIBC Aeroplan Visa Business Card is CIBC's primary business rewards card and one of the most distinctive offerings among bank business cards, largely because of its unusually low interest rate option. The $180 annual fee is rebated in the first year for eligible new cardmembers.
Annual Fee and Interest Rate
At $180 per year, the card sits at the highest annual fee among the four cards reviewed here. However, the interest rate is where this card truly differentiates: purchase rates are available as low as 12.99% (with rates assigned based on creditworthiness — available rates are 12.99%, 15.99%, or 18.99%). Cash advance rates start as low as 14.50%. For businesses that occasionally carry a balance, a 12.99% purchase rate versus the 19.99%–20.99% standard on other bank cards can represent substantial savings in interest costs.
Welcome Bonus
The current offer is up to $2,000 in value, including up to 75,000 Aeroplan points, plus a first-year annual fee rebate of $180. The points are earned through spending milestones — consult CIBC's website for current milestone details, as these offers are updated regularly.
Rewards Structure
The card earns 2x Aeroplan points per dollar on eligible purchases made directly with Air Canada and Air Canada Vacations, 1.5x on travel, transportation, dining, shipping, internet, and phone purchases, and 1x on all other purchases. Shopping through the Aeroplan eStore doubles the points earned, adding another earn dimension for businesses comfortable with online procurement.
Air Canada and Aeroplan Benefits
All seats available for purchase on Air Canada are also available for Aeroplan redemptions — no seat restrictions apply. Aeroplan preferred pricing makes flight rewards generally available for fewer points, and no airline surcharges are added to Aeroplan redemptions on Air Canada. The card also earns 1,000 Status Qualifying Credits (SQC) for every $20,000 in eligible net purchases (up to 25,000 SQC annually), supporting Aeroplan Elite Status accumulation.
Additional Benefits
The card includes a complimentary upgrade to Avis Preferred Plus membership (one-car class upgrade, expedited service, dedicated phone line), a 12-month Skip+ free trial, and up to nine employee cards at $50 per year each. CIBC Online Banking and Mobile Banking tools provide standard expense management capabilities.
Side-by-Side Comparison: Key Decision Factors
| Factor | RBC Avion VI Business | BMO CashBack Business | BMO AIR MILES WE Business | CIBC Aeroplan Visa Business |
|---|---|---|---|---|
| Annual Fee | $175 | $0 | $149 (yr 1 free) | $180 (yr 1 free) |
| Purchase APR | 19.99% | 20.99% | 20.99% | As low as 12.99% |
| Rewards Type | Flexible points (Avion) | Cash back | AIR MILES | Aeroplan points |
| Base Earn Rate | 1.25x on all (to $75K) | 0.75%–1.5% cash back | 1 Mile/$12 base | 1x–2x on categories |
| Travel Insurance | Comprehensive (incl. medical) | Limited (no travel insurance) | Partial (no travel medical) | Standard (details in agreement) |
| Employee Cards | Up to 9 at $75/yr each | Up to 22 at $0/yr | Up to 22 at $50/yr each | Up to 9 at $50/yr each |
| Best Welcome Bonus | 45,000 points on approval | 10% for 3 cycles (max $150) | 8,000 AIR MILES | Up to 75,000 Aeroplan pts |
| Low-Interest Option | No | No | No | Yes (as low as 12.99%) |
Should You Stick With Your Existing Bank?
Many business owners default to their existing bank's credit card for convenience — one login, one statement, one relationship. There are legitimate reasons to stay within your banking institution, but there are also cases where switching delivers meaningfully better value.
Advantages of Staying With Your Bank
- Streamlined banking: Expense management, payroll, and card spending appear in one place. Reconciliation is simpler when all transactions flow through a single institution.
- Relationship benefits: Businesses with strong banking relationships at RBC, BMO, or CIBC may receive preferential treatment on credit limit increases, loan applications, or fee negotiations.
- Bundled services: Some banks offer fee waivers or reduced rates on business accounts when paired with their credit card products. Verify current bundle offers directly with your bank.
- Easier approval: Existing banking customers with established account histories may find credit card applications more straightforward at their home institution.
When Switching Makes Sense
- Superior rewards alignment: If you fly Air Canada frequently and bank at BMO, the CIBC Aeroplan Visa Business card's 2x on Air Canada and status SQC are worth the switch — BMO's business cards do not participate in Aeroplan.
- Interest rate savings: A business that occasionally carries a balance and banks at RBC or BMO may save thousands annually by switching to the CIBC Aeroplan Visa Business, which offers purchase rates as low as 12.99%. The interest savings on a $20,000 carried balance at 12.99% vs. 19.99% amounts to $1,400 per year.
- Specific travel needs: The no-fee BMO CashBack Business card is worth holding regardless of primary banking relationship, as a supplementary card for its specific category benefits without displacing a primary card.
- Welcome bonus value: A first-year cardholder switching institutions to capture the CIBC Aeroplan Visa Business welcome offer (up to 75,000 Aeroplan points plus fee rebate) may receive value well above any convenience cost of managing a second banking relationship.
Which Card Is Right for Your Business?
The right choice depends on three primary factors: how important interest rates are relative to rewards, which loyalty program your business is already invested in, and whether a no-fee card can meet your needs.
Businesses that pay their card balance in full each month and want straightforward rewards should compare the RBC Avion Visa Infinite Business (strong welcome bonus, good insurance, flexible points) against the CIBC Aeroplan Visa Business (better earn rates on Air Canada and travel categories, plus status acceleration). If Air Canada is central to your travel, CIBC's Aeroplan card pulls ahead.
Businesses that participate heavily in the AIR MILES program — particularly those with significant spending at Staples, Shell, or other partners — will extract more value from the BMO AIR MILES World Elite Business than from a generic points card. The first-year fee waiver reduces the commitment risk.
Businesses seeking a zero-cost option, or those that want a supplementary card for specific categories like gas and office supplies, should consider the BMO CashBack Business Mastercard. The 1.5% earn rate on key business categories, combined with no annual fee and up to 22 free employee cards, makes it one of the strongest no-fee business cards available from a Canadian bank.
Data Verification: All card details, fees, and reward structures in this article were verified against official issuer websites as of April 2026. We conduct routine data checks to ensure accuracy. Card terms and offers can change at any time — always confirm current details directly with the card issuer before applying.
For more business resources and local guides across Markham and Richmond Hill, visit MarkhamBusiness.com.