Float · Visa (CAD cards) / Mastercard (USD cards)
Business card
No annual fee, 20 free employee cards and a 0.25% foreign transaction fee. The default product is prepaid, and you have to qualify separately for the credit version.
Rates and features verified 2026-08-18Full terms and conditionsHow we research cards
What we like, and what we don’t
Worth having
- A 0.25% foreign transaction fee, a tenth of the Canadian standard 2.5%
- 20 physical employee cards and unlimited virtual cards at no cost
- No annual fee and no personal guarantee on the charge product
- Built in expense management, receipt capture and accounting integrations
- Approval is underwritten on the business rather than the owner's personal credit
Watch out for
- The default funding model is prepaid, so you can end up on a product that extends no credit at all
- The 1% cash back only applies above CA$25,000 of monthly spending, and Float does not publish the rate below that
- Float publishes no interest rate, because the charge product is settled in 15 to 30 days rather than revolved
- No travel insurance, no purchase protection and no rental car cover
- The 3% rate on AI spending is limited time and Float does not publish an end date
What this card earns
- Everything else
- 1%
- Bonus categories at once
- 1 you choose which
The earning fine print
Float publishes 'up to 1% cashback on all categories after first $25K monthly spend'. The 1% is only reached above a CA$25,000 monthly spend threshold. A limited-time 3% cashback on eligible AI spend is also advertised. Base rate below the $25K threshold is NOT PUBLISHED.
What the offer actually requires
3% cashback on eligible AI spend advertised as limited-time; end date NOT PUBLISHED.
Fees and interest rates
- Annual fee
- None
- Employee card
- Free
- Employee cards included
- 20
- Foreign transaction fee
- 0.25%
- Purchase APR
- Not published by the issuer
Who can get this card
- Personal guarantee required
- No you are personally liable for the balance
What the benefits really mean
IMPORTANT PRODUCT-STRUCTURE FLAG: Float sells two funding models on the same card. The 'Pre-funded' model is a prepaid/deposit-funded card and is NOT a credit product; only the 'Charge' model extends credit and that is the product recorded here. Float Charge is unsecured credit with 15-30 day interest-free repayment terms and full monthly settlement. It revolves no balance, so there is no purchase APR. Credit line advertised 'up to $3M+' (homepage separately says '$1M card limits'), 'subject to eligibility', with 'Conditions apply. Book a demo with our team for more details.' REVENUE / FUNDING REQUIREMENT: no numeric minimum revenue or venture-funding threshold is published; Float states only that Float Charge is assessed on 'revenue, cash flow forecasts and operating history'. Platform pricing: Essentials CA$0/user/month, Professional CA$10 CAD/user/month with active-user pricing starting at $100/month, Enterprise custom (custom Charge credit terms). Float is a spend-management platform first. The card is bundled with CDIC-insured business accounts paying up to 3.5%. Free employee cards: 20 physical + unlimited virtual on the free Essentials plan; unlimited physical on Professional at CA$10/user/month. The default/entry funding model is PRE-FUNDED (prepaid). You must actively qualify for and select 'Charge' to have any credit extended. A business comparing this to a bank card may end up on a prepaid product. 1% cashback only applies after CA$25,000 of monthly spend; the rate below that threshold is not published anywhere on the site. Charge is a full-settlement product with 15-30 day terms. There is no revolving option, so a business that cannot clear the balance monthly cannot use it as a credit card. Credit line figures conflict across Float's own pages ($3M+ on the card page, $1M on the homepage), and both are gated behind 'book a demo'. Unlimited physical employee cards require the paid Professional plan at CA$10/user/month; the free plan caps physical cards at 20.
Our verdict
The foreign transaction fee is the headline and it is a real one. 0.25% against the Canadian standard 2.5% saves $225 on every $10,000 of foreign supplier payments, which for an importer or a software heavy business is worth more than any cash back card in this comparison. Twenty free employee cards and no personal guarantee are both genuinely better than what the banks offer.
Be careful which product you end up on. Float sells prepaid and charge versions of the same card and the prepaid one is the default, which means a business comparing this to a bank card can sign up for something that extends no credit. And the 1% cash back needs CA$25,000 of monthly spending before it starts, with the rate below that threshold unpublished. Judge it as an expense platform with a very cheap foreign exchange rate, not as a rewards card.
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Where this came from. floatfinancial.com/platform/corporate-cards/ ; floatfinancial.com/pricing/ ; floatfinancial.com/blog/business-credit-cards-with-no-personal-guarantee-your-options (fetched 18 Aug 2026). We take every figure from the issuer’s own pages, never from another comparison site, and we leave a field blank rather than guess at it.