Business Platinum Card from American Express
130,000 MR points
A Roundup of Prepaid Credit Cards in Canada
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Business Platinum Card from American Express
- Earn 90,000 MR points upon spending $15,000 in the first three months
- Plus, earn 40,000 MR points upon making a purchase in months 14–17 as a cardholder
- And, earn 1.25x MR points on all purchases
- Also, receive a $200 annual travel credit
- Transfer MR points to Aeroplan and other frequent flyer programs for premium flights
- Unlimited airport lounge access for you and one guest at Priority Pass, Plaza Premium, Centurion, and other lounges
- Credits and rebates for business expenses throughout the year with Amex Offers
- Bonus MR points for referring family and friends
- Qualify for the card as a sole proprietor
- Annual fee: $799
9 Comments
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“Withdrawing cash, one of the better previous uses for the card, will still incur the 2.5% ding, which is an unfortunate downgrade.”
Are you sure?
I used the web chat feature to ask Stack about this before a recent trip. They seemed to indicate (though their answer was far from crystal clear) that foreign cash withdrawals counted under the refund scheme for monthly totals over $350.
Since Wise provides you with a Canadian bank account number, I’ve been able to avoid the Wise card load fee by triggering an Electronic Fund Transfer from the other end, i.e. via Tangerine.
Is there any actual competition on the pure debit card front? Unfortunately these cards , while marketed as cash alternatives, are not accepted at the small number of places (usually small corner stores) that are debit only.
I’ve used all the mentioned cards and none of them have Interac label (what is typically referred as this so-called debit in Canada). If you want exactly such card, you might need to open full-pledge chequing account at actual bank. Cheapest to come to this area is Tangerine and Simplii. Simplii debit card has Interac label.
Just wanted to clarify potential theory incase you end up with question “why?”. Visa, AMEX, MasterCard, Discover, etc they all introduce merchant fees that typically business have to pay on each transaction. All these bonuses you get are typically part of rebates from those fees. Interac is proprietary in-Canada thing, and to add intentive for merchants to adopt it it has significantly reduced fees. There’s no rebate of those fees, so its waste of money for such internet banking businesses to consider this network.
Thanks for the information, dimon222. I have applied for a Simplii account. I can’t quite figure out if it can be the *sole* chequing account one has. I am seeking to leave RBC after several years.
I think for WS Cash weekly limit only applies to student 10% promos. See the page for main 5% (6% this week)
https://help.wealthsimple.com/hc/en-ca/articles/4402438160663-Earn-5-cash-back-with-your-Cash-Card
My personal FAVORITE prepaid visa Debit card since summer has been the Crypto.com 3% Crypto ‘CRO’ cash back Jade Green (Metal card) which I load easily with fiat wallet in the app and they also give airport lounge access and free rebates on prime and netflix video service.
Any prepaid that can be loaded with Amex credit?