American Express® Aeroplan®* Business Reserve Card

National Bank Business Mastercard

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Amex Aeroplan Business Reserve vs National Bank Business Mastercard

Both business cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.

American Express® Aeroplan®* Business Reserve Card

4.7

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Our review Rewards calculator

National Bank Business Mastercard

2.8

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Our review

Worked out on a typical small business spending $4,000 a month. Enter yours to see your own numbers.

$1,674

First-year value

Doesn't earn rewards

$439

Every year after

Doesn't earn rewards

Only Amex Aeroplan Business Reserve earns rewards we can work out.

Compare the fees, rates and perks below.

How the first year adds up

Rewards and the welcome bonus in, the annual fee, FX fees and employee cards out, at your spending.

$1,217.75

in Aeroplan points a year

Annual rewards

—

+ $1,235

first year only

Welcome bonus

—

− $599

Annual fee

—

− $180

2.5% on $600/mo

FX fees

—

$1,673.75

First-year value

—

Where each card earns

A year of your spending on each card, category by category, biggest spend first.

$299.14

at 1.25x

All Other Business Expenses

$12,600 a year

—

$146.15

at 1.25x

US Dollar Purchases

$6,150 a year

—

$114

at 1.25x

Recurring Bills & Subscriptions

$4,800 a year

—

$85.5

at 1.25x

Gas & EV Charging

$3,600 a year

—

$85.5

at 1.25x

Dining & Restaurants

$3,600 a year

—

$71.14

at 1.25x

Office Supplies

$3,000 a year

—

$57

at 1.25x

Phone, Internet & Cable

$2,400 a year

—

$68.4

at 2x

Hotels

$1,800 a year

—

$42.64

at 1.25x

Shipping & Courier

$1,800 a year

—

$42.64

at 1.25x

Accounting & Bookkeeping

$1,800 a year

—

$29.18

at 1.25x

Other Foreign Currencies (EUR, GBP, etc.)

$1,230 a year

—

$28.5

at 1.25x

Electronics & Software

$1,200 a year

—

$68.4

at 3x

Air Canada

$1,200 a year

—

$28.5

at 1.25x

Transportation

$1,200 a year

—

$14.14

at 1.25x

Other Airlines

$600 a year

—

$22.8

at 2x

Car Rental

$600 a year

—

$14.14

at 1.25x

Other Travel

$600 a year

—

$1,217.75

Rewards in a year

—

Welcome bonus

Each offer as the issuer words it, then which milestones your spending reaches.

Amex Aeroplan Business Reserve

Earn up to 90,000 Welcome Bonus Aeroplan^®* points
Earn 65,000 Aeroplan^®* points after spending $10,500 on your Card within the first 3 months as a new American Express^® Aeroplan^®* Business Reserve Cardmember.
Plus, earn 25,000 Aeroplan points when you spend $3,500 in month 13.
You can earn up to $5,600 in value within your first 13 months. When you combine the Welcome Bonus offer of up to $1,800 in value, your earn potential in accelerated and everyday spend earn rate categories with approximately $2,825 in value, and the $1,000 in value you get from exceptional benefits, you can earn up to $5,600 or more in value within your first 13 months. Terms and usage assumptions apply.

National Bank Business Mastercard

No welcome bonus right now.

Amex Aeroplan Business Reserve

Worth $1,235 at your spending

65,000 Aeroplan points when you spend $10,500 in the first 3 months

65,000 pts

25,000 Aeroplan points when you spend $3,500 in month 13 (card year 2)

25,000 pts

National Bank Business Mastercard

Fees, rates and eligibility

What each card costs to hold and to use abroad, and who it's for.

$599

⁕ Notice: As of Jan 12, 2027, the American Express® Aeroplan®* Business Reserve Card annual fee will increase to $799. Annual fees charged on or after this date will reflect the new fee. The Employee Aeroplan®* Business Reserve Card annual fee will increase to $249. The Employee Aeroplan®* Business Reserve No Fee Card will be renamed to the Employee Aeroplan®* Business Reserve Expense Card and the annual fee will increase to $25. Learn more about new benefits.

Annual fee

Employee cards

2.5%

Foreign transaction fee

2.5%

Aeroplan

Rewards

No rewards

American Express

Network

Mastercard

Amex Aeroplan Business Reserve

Interest rates

Purchase:

21.99%¹

Cash Advance:

21.99%¹

¹ If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.

Recommended credit score

300

Poor

693

Fair

743⁎

Good

790⁎

Very Good

833⁎

Excellent

⁎Estimates based on TransUnion scoring

Income required

Min Personal Income:

N/A

Min Household Income:

N/A

National Bank Business Mastercard

Interest rates

Purchase:

20.99% or 14.5%^

Cash Advance:

22.99% or 14.5%^

Balance Transfer:

22.99% or 14.5%^

Recommended credit score

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

Income required

Min Personal Income:

N/A

Min Household Income:

N/A

How each card earns

The earn rates and caps, as each issuer sets them.

Amex Aeroplan Business Reserve

3x Aeroplan^® points per $1 spent on eligible Air Canada^® and Air Canada Vacations^® purchases
2x Aeroplan^® points per $1 spent on eligible hotel and car rental purchases in Canada
1.25x Aeroplan^® points per $1 spent on all other eligible purchases

National Bank Business Mastercard

Pay just $30 in annual fees with a minimum credit limit¹ of $1,000 and reduce your rate to 14.5% on purchases, balance transfers and cash advances.^2,3
Get up to $10,000 in coverage against fraudulent uses of your credit card by authorized cardholders.

Insurance and perks

What both cards include comes first in each list.

Amex Aeroplan Business Reserve

Insurance

Purchase Protection

90 days

Lost or Stolen Baggage

$1,000

Baggage Delay

$1,000/person after 6 hours

Car Rental Damage & Theft

$85K MSRP up to 48 consecutive rental days

Common Carrier Travel Accident Insurance

$500,000

Extended Warranty

1 years

Hotel Burglary Insurance

$1000

Travel Medical Insurance (64 & under)

$5M/insured up to 15 days

Trip Cancellation

$1,500/person, $3K/trip

Trip Interruption

$1,500/person, $6K/trip

Flight Delay

$1,000/person after 4 hours

Perks

Companion Voucher

Annual Worldwide Companion Pass from $99 to a max of $599 After spending $25,000 on your card

Status lift

Complimentary upgrade to Avis® President's Club

Status lift

Get 1,000 Status Qualifying Credits (SQC) for every $5,000 in eligible net purchases charged to your Card, up to 25,000 SQC

Status lift

Get a 10% Head Start. Starting in 2027, eligible Basic Cardmembers with Aeroplan Elite™* Status will receive a 10% head start toward qualification, based on Status Qualifying Credits (SQC) accumulated the year before. Roll over any unallocated unused eUpgrade Credits to the following year to enjoy during your travels.

Status lift

Primary Cardholders who also hold Aeroplan Elite Status will benefit from an extra 12 months to use eUpgrade credits, for a total of 24 months from issuance.

Free first checked bag

First checked bag is free for primary cardholder on Air Canada branded flight and up to 8 guests

Extra points

Earn points twice at over 150 Aeroplan partner brands and over 170 online retailers through the Aeroplan eStore

Free Extra Night at Hotels

Cardmembers can now get an extra night free for every 3 hotel nights redeemed with Aeroplan points. Enjoy even more at over 300,000 hotel properties worldwide

Nexus Program Rebate

$100 every 4 years

Priority Travel

At Toronto Pearson airport get benefits such as Priority Security lane, Complimentary valet, premium parking spots, priorioty taxi and limo lane and discount for parking and car care.

Priority Travel

Get Priority Check-in, Priority Boarding and Priority Baggage Handling, Priority Airport Standby & Priority Airport Upgrades for you, your authorized users and up to 8 companions on the same flight (Only AirCanada)

Airport Lounge - Maple Leaf and AirCanada Cafes

Unlimited Access for you and one guest

Airport Lounge - Priority Pass

Pass only. No Complimentary visits!

Amex Experiences™

Amex Experiences™ opens doors for you to access a number of special events, including special dining experiences, VIP parties, advance film screenings and more

National Bank Business Mastercard

Insurance

Purchase Protection

90 days

Perks

No extra perks.

Our take

Amex Aeroplan Business Reserve

The most aggressive Aeroplan earning card you can get for a business: 3x on Air Canada, 2x on hotels and car rentals, and 1.25x on everything else. The $599 annual fee is steep, but the perks are hard to match — unlimited Maple Leaf Lounge access, Priority Pass membership, free checked bags, and an Annual Worldwide Companion Pass that alone can be worth hundreds. If your business spends heavily on Air Canada flights and travel, this card can return serious value. But be honest about your travel volume — at this fee, light travelers will lose money. This is a card you need to actively use to justify.

Premium earning rates
Comprehensive coverage
Unlimited airport lounge access
Priority Pass membership
Annual companion pass
Free first checked bags
NEXUS program rebate
Priority travel perks

High annual fee
Benefit limitations and conditions
Less valuable for non-travellers

National Bank Business Mastercard

This is a no-rewards, no-frills business card — and that’s exactly the point. There’s no annual fee, no points to track, and no complicated structure. What you get is a clean way to separate business expenses from personal ones, with the option to drop your interest rate to 14.5% for just $30/year. That makes it one of the better options if your business occasionally carries a balance. It won’t earn you anything on spending, but for businesses that just need a functional credit line without paying for features they’ll never use, it does the job.

$0 annual fee (including additional cards)
Option to lower interest rate to 14.5% with $30 annual fee
Helps separate business and personal expenses

No rewards program (no points or cash back)
Limited insurance coverage
No travel perks or premium benefits

More business card comparisons

Each card against every other business card we review.

Amex Aeroplan Business Reserve

National Bank Business Mastercard

Legal

Amex Aeroplan Business Reserve

*Terms and conditions apply.

If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.

American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.

National Bank Business Mastercard

Little details that matter

Important contact information

Customer service or report a lost or stolen card	In Canada or the U.S.: 1-844-394‑4494 Other countries: 514-394‑4494
Report fraudulent use by an authorized cardholder	In Canada or the U.S: 1-800-231‑2024 Other countries: 514-394‑0805
Chargeback	1-844-394-4494

Legal notes

^®Mastercard and Mastercard BusinessCard are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Authorized user: National Bank

^TM ID Check and Identity Check are trademarks of Mastercard International Inc. Authorized user: National Bank.

¹ Subject to credit approval from National Bank.

² Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers. Minimum payment: If your account balance is lower than $10, you must pay the entire balance. If you reside in the province of Quebec, your minimum payment will correspond to 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. If you are a business that chose the corporate responsibility, please refer to the cardholder agreement and account statement. Account statement: A statement is sent monthly.

	Average balance
Annual interest rate	$500	$3,000
22.99%	$9.45	$56.69
20.99%	$8.63	$51.76
14.5%	$5.96	$35.75
11.7%	$4.81	$28.85

*Variable interest rate in effect on April 24, 2023.

³ Subject to credit approval from National Bank. The total of all amounts transferred cannot exceed $5,000.

⁴ Certain conditions apply. Visit mastercard.caopens in a new tab for more information. Refer to the credit card terms and conditions.

This content is made available by National Bank and its affiliates for information purposes only. It does not create any legal or contractual obligations for National Bank and its affiliates. The conditions described herein are not exhaustive and are subject to change.

Some of our cards offer a compensation plan in the event of fraud by a cardholder. If necessary, the fraud compensation plan entitles you to a refund limited to the real loss resulting from fraudulent use of the card or account by the cardholder. This plan only applies in the event of fraudulent use by a cardholder who is not also an authorized signatory. The refund amount can be up to $100,000 per account per 12-month period. To use this plan, the company and all authorized signatories must fully collaborate with the Bank and file an official complaint with law enforcement authorities. The application of the fraud protection plan is governed by the conditions set out in section 14 of the credit card agreement. In particular, the plan does not apply if, through negligence, the cardholder contributed to the unauthorized or fraudulent use of the card or account by any person other than a cardholder.

National Bank is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for a National Bank Card, (I/we) may receive compensation from National Bank, which can be in the form of monetary payment.