There are not too many good business credit card out there in Canada. Mostly because the annual fees are actually higher than the individual version and they generally do not waive the annual fees. But every now and then, we see a great promotion to consider. Today, we are taking a look at the CIBC Aerogold Visa Card for Business. Below are the highlights of the credit card:
- $180 annual fee (first year fee waived if you apply before
August 31, 2015)
- $50 for supplementary cardholders (9 cards maximum)
- Earn 20,000 sign up bonus points
- Earn 1.5 Aeroplan mile for every $1 spent on gas, travel and at participating CIBC Bonus Rewards restaurants, hotels, inns and spa
- Earn 1 Aeroplan mile for every $1 spent on all other purchases
- eceive 1 complimentary Lounge Pass to an Air Canada Maple Leaf Lounge when travelling on an Aeroplan flight reward (on a flight operated by Air Canada, Air Canada rouge or Air Canada Express)
- Priority check-in
- Priority boarding
- Complimentary first checked bag on Air Canada flights
The first year fee makes this credit card a no-brainer for business owners.
Beyond the first year, the $180 is difficult to justify considering that the benefits are pretty much the same as the CIBC Aerogold Visa Infinite Card which has a $120 instead. So I find it very difficult to recommend paying the annual fee on the second year.