Loop · Visa
Business card
No annual fee and no foreign transaction fee, aimed at businesses that hold and spend in several currencies. A personal guarantee is required under $10 million of gross profit.
Rates and features verified 2026-08-18Full terms and conditionsHow we research cards
What we like, and what we don’t
Worth having
- No foreign transaction fee at all, a genuine zero
- Multi currency accounts, so you can hold and spend USD, EUR and GBP directly
- No annual fee on the basic plan
- Two points a dollar on the paid plans, which Loop describes as worth about 1%
- Built for businesses paying international suppliers
Watch out for
- A personal guarantee is required for any business under $10 million of gross profit, which contradicts the marketing
- Loop does not publish a purchase interest rate anywhere, so the cost of carrying a balance is unknowable
- The 2x rate needs a paid plan; the free plan earns 1x on Canadian spending only
- Loop publishes no cents per point value, so the earn cannot be priced exactly
- No travel insurance and no purchase protection
What this card earns
- Everything else
- 1x
- Bonus categories at once
- 1 you choose which
- What we value a point at
- Not published by the issuer
The earning fine print
Basic (free) plan: 1x points on CAD card spend only. Loop Plus: 2x on CAD spend, 1x on foreign-currency spend. Loop Power: 2x on all card spend including foreign currency. Loop states 2 points per dollar is 'worth approximately 1% value'; it does not publish a fixed cents-per-point rate, so point_value_cents is left null rather than derived. Points redeem with Amazon, Apple, Uber, Walmart, Air Canada and Expedia.
Fees and interest rates
- Annual fee
- None
- Employee cards included
- None
- Foreign transaction fee
- None
- Purchase APR
- Not published by the issuer
Who can get this card
- Personal guarantee required
- Yes you are personally liable for the balance
What the benefits really mean
This IS a genuine credit card, not prepaid. Loop's FAQ states 'Your Loop Card credit limit will automatically update on a monthly basis', with up to CA$50,000 approved automatically and up to $1M case-by-case, assigned based on connected sales channels (Amazon, Shopify, Stripe, PayPal). 55 days to pay. PERSONAL GUARANTEE: Loop's own FAQ states it requires 'a personal guarantee for companies with less than $10M in Gross Profit'. So effectively every SMB gives a PG, despite marketing that 'applying won't affect your personal score' and the card not reporting to personal credit bureaus. REVENUE REQUIREMENT: no numeric floor published, but a credit limit is 'assigned based on sales' from connected sales channels, so a pre-revenue business will not be approved. Multi-currency: spend in CAD, USD, GBP, EUR with 0% FX; conversions into non-enabled currencies carry a 0.1%-0.5% markup by plan (Basic 0.47%, Plus 0.27%, Power 0.12% on FX conversion). Loop Capital (separate lending product) charges 1%-2% per month plus a $99-$499 monthly access fee. Do not confuse with the card. Free employee cards: Basic plan (CA$0/mo): 2 physical + 20 virtual. Loop Plus (CA$79/mo): 10 physical + unlimited virtual. Loop Power (CA$299/mo): 50 physical + unlimited virtual. Unlimited team members on all plans. Issued by Equitable Bank. Personal guarantee IS required for any business under $10M gross profit. This contradicts the 'won't affect your personal score' framing used throughout the marketing site. The purchase interest rate on the card is not published anywhere on Loop's site. A business cannot price the cost of carrying a balance before applying. The free Basic plan earns points on CAD spend only. The headline 'earn rewards on USD spend' requires a paid plan at CA$79 or CA$299/month. Only 2 physical cards on the free plan; a team of any size needs Loop Plus at CA$79/month. 0% FX only applies within CAD/USD/GBP/EUR. Any other currency incurs Visa rate plus 0.1%-0.5%. Loop Capital's 1%-2% per month (12%-24%+ annualized) plus monthly access fee is a separate product frequently conflated with the card in third-party reviews.
Our verdict
For a business that pays suppliers abroad, holding balances in the currency you owe and spending with no conversion fee is a structurally better answer than earning 2% and paying 2.5% to convert. That is the case for Loop and it is a good one.
Two things the marketing does not lead with. A personal guarantee is required for any business under $10 million of gross profit, which is nearly every business reading this, and that sits awkwardly beside the messaging about not affecting your personal credit. And Loop publishes no interest rate at all, so if you might carry a balance you cannot price the card before taking it.
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Where this came from. bankonloop.com/en-ca/corporate-credit-card ; bankonloop.com/en-ca/credit-card ; bankonloop.com/en-ca/pricing ; bankonloop.com/en-ca/faq (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.