Amex Aeroplan Business Reserve vs TD Business Cash Back Visa* Card

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

American Express® Aeroplan®* Business Reserve Card

American Express® Aeroplan®* Business Reserve Card

4.7

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TD Business Cash Back Visa* Card

TD Business Cash Back Visa* Card

3.5

Learn more

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

$1,674

First-year value

$250

$439

Every year after

$250

Amex Aeroplan Business Reserve is worth $1,424 more to your business in year one.

It stays ahead after that, by $189 a year.

How the first year adds up

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

$1,217.75Better of the two
in Aeroplan points a year

Annual rewards

$429.9
cash back a year
+ $1,235Better of the two
first year only

Welcome bonus

+ $0
no welcome offer
− $599

Annual fee

Better of the two− $0
no annual fee
− $180
2.5% on $600/mo

FX fees

− $180
2.5% on $600/mo
$1,673.75Better of the two

First-year value

$249.9

Where each card earns

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

Amex Aeroplan Business Reserve earns more on 17 of your 17 categories.

$299.14Better of the two
at 1.25x

All Other Business Expenses

$12,600 a year

$63
at 0.5%
$146.15Better of the two
at 1.25x

US Dollar Purchases

$6,150 a year

$30.75
at 0.5%
$114Better of the two
at 1.25x

Recurring Bills & Subscriptions

$4,800 a year

$96
at 2%
$85.5Better of the two
at 1.25x

Gas & EV Charging

$3,600 a year

$72
at 2%
$85.5Better of the two
at 1.25x

Dining & Restaurants

$3,600 a year

$18
at 0.5%
$71.14Better of the two
at 1.25x

Office Supplies

$3,000 a year

$60
at 2%
$57Better of the two
at 1.25x

Phone, Internet & Cable

$2,400 a year

$12
at 0.5%
$68.4Better of the two
at 2x

Hotels

$1,800 a year

$9
at 0.5%
$42.64Better of the two
at 1.25x

Shipping & Courier

$1,800 a year

$9
at 0.5%
$42.64Better of the two
at 1.25x

Accounting & Bookkeeping

$1,800 a year

$9
at 0.5%
$29.18Better of the two
at 1.25x

Other Foreign Currencies (EUR, GBP, etc.)

$1,230 a year

$6.15
at 0.5%
$28.5Better of the two
at 1.25x

Electronics & Software

$1,200 a year

$6
at 0.5%
$68.4Better of the two
at 3x

Air Canada

$1,200 a year

$6
at 0.5%
$28.5Better of the two
at 1.25x

Transportation

$1,200 a year

$24
at 2%
$14.14Better of the two
at 1.25x

Other Airlines

$600 a year

$3
at 0.5%
$22.8Better of the two
at 2x

Car Rental

$600 a year

$3
at 0.5%
$14.14Better of the two
at 1.25x

Other Travel

$600 a year

$3
at 0.5%
$1,217.75Better of the two

Rewards in a year

$429.9

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.

TD Business Cash Back Visa* Card

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

TD Business Cash Back Visa* Card

No welcome bonus to work towards right now.

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

Better of the two$0
$0

Employee cards

$0
2.5%

Foreign transaction fee

2.5%
Aeroplan

Rewards

Cash back
American Express

Network

Visa

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

TD Business Cash Back Visa* Card

Interest rates

Purchase:

19.99%

Cash Advance:

22.99%

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

TD Business Cash Back Visa* Card

  • Earn 2% in Cash Back Dollars on Gas, Electric Vehicle Charging and Public Transit Purchases2
  • Earn 2% in Cash Back Dollars on eligible Office Supply Purchases2
  • Earn 2% in Cash Back Dollars on recurring bill payments and Streaming, Digital Gaming & Media3
  • Earn 0.5% in Cash Back Dollars on all other Purchases made with your Card4

Insurance and perks

What both cards include comes first in each list.

Amex Aeroplan Business Reserve

Insurance

  • extended warranty

    Extended Warranty

    1 years
  • purchase protection

    Purchase Protection

    90 days

  • lost baggage

    Lost or Stolen Baggage

    $1,000
  • hourglass timer

    Baggage Delay

    $1,000/person after 6 hours
  • car insurance

    Car Rental Damage & Theft

    $85K MSRP up to 48 consecutive rental days
  • heart lock

    Common Carrier Travel Accident Insurance

    $500,000
  • burglar

    Hotel Burglary Insurance

    $1000
  • travel accident medical

    Travel Medical Insurance (64 & under)

    $5M/insured up to 15 days
  • cancel airplane

    Trip Cancellation

    $1,500/person, $3K/trip
  • pause

    Trip Interruption

    $1,500/person, $6K/trip
  • hourglass timer

    Flight Delay

    $1,000/person after 4 hours

Perks

  • reward cup

    Extra points

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

  • airplane love

    Companion Voucher

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

    Status lift

    Complimentary upgrade to Avis® President's Club
  • star fall

    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
  • star fall

    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.
  • star fall

    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.
  • luggage

    Free first checked bag

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

    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
  • border guard

    Nexus Program Rebate

    $100 every 4 years
  • airport waiting room

    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.
  • airport waiting room

    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)
  • alcohol cheers

    Airport Lounge - Maple Leaf and AirCanada Cafes

    Unlimited Access for you and one guest
  • alcohol cheers

    Airport Lounge - Priority Pass

    Pass only. No Complimentary visits!
  • Amex logo

    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

TD Business Cash Back Visa* Card

Insurance

  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days

Perks

  • reward cup

    Extra points

    Link your eligible Card to earn 50% more Stars at participating Starbucks stores. Conditions apply.

  • car rental

    Car Rental Discount

    Save with Avis Rent A Car and Budget Rent A Car. Use your TD Credit Card to save a minimum of 10% of the lowest available base rates(8,9) in Canada and the U.S., and a minimum of 5% of the lowest available base rates(8,9) internationally, on qualifying car rentals at participating Avis and Budget locations.

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

TD Business Cash Back Visa* Card

No annual fee and 2% cash back on the categories most small businesses actually spend on — gas, office supplies, recurring bills, EV charging, and digital media. It’s one of the simplest business cards available: earn cash back, get a statement credit, done. The downside is clear: the 0.5% base rate on everything else is low, and each 2% category is capped at $15,000/year. For a small business with moderate, predictable spending, this is a genuinely good free card. For higher spenders, the caps will hold you back.

  • $0 annual fee
  • Simple cashback structure
  • Free additional cards
  • Low 0.5% base reward rate
  • No travel insurance coverage
  • $15,000 annual cap per 2% category
  • No welcome bonus

More business card comparisons

Each card against every other business card we review.

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.

TD Business Cash Back Visa* Card

2 Earn 2% in Cash Back Dollars (“Gas and Electric Vehicle Charging Rebate”) for each $1.00 in “Gas and Electric Vehicle Charging Purchases” charged to your TD Business Cash Back Visa Card Account (“Account”), earn 2% in Cash Back Dollars (“Public Transit Rebate”) for each $1.00 in “Public Transit Purchases” and earn 2% in Cash Back Dollars (“Office Supply Rebate”) for each $1.00 in “Office Supply Purchases” charged to your Account. Any returned items, refunds, rebates or other similar credits will reduce or cancel the Cash Back Dollars earned on the original Gas and Electric Vehicle Charging Purchases, Public Transit Purchases, or Office Supply Purchases, as applicable. $15,000 Cap: Each of the Gas and Electric Vehicle Charging Rebate, the Public Transit Rebate, and the Office Supply Rebate is only available to a $15,000 maximum annual spend (“$15,000 Cap”). Once the $15,000 Cap has been reached for Gas and Electric Vehicle Charging Purchases, Public Transit Purchases, or Office Supply Purchases, then any further Gas and Electric Vehicle Charging Purchases, Public Transit Purchases, and Office Supply Purchases made on the Account will earn Cash Back Dollars at the standard rebate of 0.5% that applies to all other Purchases on the Account as set out in your Cardholder Agreement (“Standard Rebate”). Applicability of Gas and Electric Vehicle Charging Rebate, Public Transit Rebate, and Office Supply Rebate: Each of the Gas and Electric Vehicle Charging Rebate, the Public Transit Rebate, and the Office Supply Rebate is in place of, and not in addition to, the Standard Rebate. Merchant Category Codes: To earn the Gas and Electric Vehicle Charging Rebate, the Public Transit Rebate, and/or Office Supply Rebate, the Gas and Electric Vehicle Charging Purchases and/or Office Supply Purchases must be made at merchants classified through the Visa network with a Merchant Category Code (“MCC”) that identifies them as Gas Service Stations, Automated Fuel Dispensers, Electric Vehicle Charging, Local and Suburban Commuter Passenger Transportation, including Ferries, or Office Supplies. Some merchants may sell gas or gas station services or products, offer electric vehicle charging, offer transit services, or sell office supply items, or have separate merchants located on their premises that also sell gas or gas station services or products, or electric vehicle charging, or transit services, or office supply items, but may not be classified with a gas, electric vehicle charging, public transit, or office supply MCC and such Purchases will not earn the Gas and Electric Vehicle Charging Rebate, Public Transit Rebate, or Office Supply Rebate, as applicable. If you have questions about the MCC that applies to a Purchase, contact TD at 1-800-983-8472. Other Conditions: Offer may be changed, withdrawn or extended at any time and cannot be combined with any other offer.


3 Earn 2% in Cash Back Dollars (“PAP and Streaming, Digital Gaming & Media Rebate”) on each $1.00 in “PAP and Streaming, Digital Gaming & Media Purchases” and payments made on a monthly or other regularly recurring basis for merchant bills, including insurance premiums, magazine/newspaper/online streaming subscriptions, membership fees and telecommunication fees, that are set up by the merchant with your consent to be automatically charged to your TD Business Cash Back Visa Card Account (“Account”) and that are classified through the Visa network as “Recurring Bill Payments” . You must confirm with your merchant if they can accept Pre-Authorized Payments. Any returned items, refunds, rebates or other similar credits will reduce or cancel the Cash Back Dollars earned on the original Recurring Bill Payment. To earn the “PAP and Streaming, Digital Gaming & Media Rebate” when making a Purchase that is not a Recurring Bill Payment, the Purchase must be made at merchants classified through the Visa network with a Merchant Category Code (“MCC”) that identifies them as Digital Goods Media – Books, Movies, Music, Digital Goods – Games, Digital Goods – Applications, Digital Goods – Large Digital Goods Merchants, Cable, Satellite and Other Pay Television/Radio/Streaming Services. Some merchants might sell Streaming, Digital Gaming, and Media but are not classified under the Merchant Category Code, and Purchases made with these merchants will not earn the PAP and Streaming, Digital Gaming & Media Rebate. If you have questions about the MCC that applies to a purchase, contact TD at 1-800-983-8472. $15,000 Cap: The PAP and Streaming, Digital Gaming, and Media Rebate is only available to a $15,000 maximum annual spend (“$15,000 Cap”). Once the $15,000 Cap has been reached, then any further PAP and Streaming, Digital Gaming, and Media Purchases made on the Account will only earn Cash Back Dollars at the standard rebate of 0.5% that applies to all other Purchases on the Account as set out your Cardholder Agreement (“Standard Rebate”). Applicability of PAP, Streaming, Digital Gaming, and Media Rebate: The PAP and Streaming, Digital Gaming and Media Rebate is in place of, and not in addition to, the Standard Rebate. Other Conditions: Offer may be changed, withdrawn or extended at any time and cannot be combined with any other offer.


4 Earn 0.5% in Cash Back Dollars (“Standard Rebate”) on each $1.00 for all other Purchases (“Other Purchases”) charged to your TD Business Cash Back Credit Card Account (“Account”). Any returned items, refunds, rebates or other similar credits will reduce or cancel the Cash Back Dollars earned on the original Purchase. Other Conditions: Offer may be changed, withdrawn or extended at any time and cannot be combined with any other offer.


8 Provided by Avis Rent A Car System ULC. Minimum discount offer subject to discount code and to terms and conditions which may change without notice. Blackout dates may apply. Base rate refers to time and kilometre/mile charges only. Taxes, fees and surcharges are extra. The Toronto-Dominion Bank is not responsible for any vehicles, services, discounts or other offers made available by Avis Rent A Car System ULC.

9 Provided by Budget Rent A Car System, Inc. Minimum discount offer subject to discount code and to terms and conditions which may change without notice. Blackout dates may apply. Base rate refers to time and kilometre/mile charges only. Taxes, fees and surcharges are extra. The Toronto-Dominion Bank is not responsible for any vehicles, services, discounts or other offers made available by Budget Rent A Car System, Inc.