What to Look for in a Business Travel Rewards Program

As a small business owner, you have to be flexible, resourceful, and strategic. These are also the characteristics you want to find in a business travel rewards program. 

A business travel rewards program is a system that allows your business to earn points, miles, or cash back rewards on everyday business spending. You can then redeem your points for future flights, hotels, or to pay off your credit card balance.

The best programs offer strong earn rates, maximum flexibility, and useful travel benefits. Here are some of the key features to look for when comparing business travel credit card rewards programs.

Match between spending and rewards 

To find a card with a rewards program that matches how you actually spend, take a look at your business travel expenses for the last six months or year. Are you mostly driving for work or do you fly? Is most of your travel national or international? How often are you on the road?

The answers to these questions will help you determine which business travel rewards program fits your spending.

High earn rate

Compare cards to see how many points or rewards you can earn on every dollar. If you spend most of your travel budget on flights and hotels, look for a card that accelerates your earnings in these categories. Also consider the earn rate across all purchases.

Flexibility or loyalty 

Consider whether you want to prioritize flexibility with your points or miles, or use a loyalty program that rewards consistency with a specific airline or hotel network.

A general rewards program may give you more options for when and where you travel, while a carrier-specific card can maximize your rewards with frequently used vendors.

Redemption options 

When comparing travel rewards programs, consider how many options you have for spending the rewards you’ve earned. Flexible redemption programs allow you to apply your points to travel, gift cards, shopping, to pay off your credit card balance, or even to contribute to a tax advantage savings account. When it comes to travel rewards redemption, the more options, the better.

Annual fee

Many travel rewards credit cards come with an annual fee. This shouldn’t scare you off. Cards with a fee often offer more perks and benefits which can offset the yearly cost, providing you take advantage of them.

For instance, if your travel rewards program offers free access to airport lounges, but you only fly once a year, it’s likely not worth the added cost. To determine if the annual fee is worth it, compare the cost to the potential value of earned rewards and benefits.

Restrictions and expiration 

Before you commit to a travel rewards program, make sure you understand if there are any blackout periods or restrictions when it comes to booking a trip. You also want to find a program where your points never expire.

As a small business owner, your travel schedule might be unpredictable, and you want to make sure your points are available and usable when you need them.

Travel protection 

Whether you’re flying overseas or travelling to another province, knowing you’re properly protected can bring peace of mind. A travel rewards credit card that bundles trip cancellation, flight delay, and rental protection into the annual fee and eliminates the need for a separate insurance policy, which can save you money.

Worldwide acceptance

If you travel internationally for business, it’s important to look for a rewards program with global acceptance. For instance, Visa is accepted in more than 200 countries and territories, making it a reliable choice for Canadian travellers.¹ American Express may have more limited acceptance in remote destinations and smaller shops. This may be an important consideration depending on where you travel.

Which travel rewards program is right for you?

The right business travel rewards program is one that supports how your business spends money. To find the right program for you, match your top spending categories to a program's earn structure.

Then consider features like redemption flexibility, travel insurance coverage, and whether the annual rewards program fee is worth the cost. For most Canadian small business owners, the best travel rewards program is the one that offers maximum flexibility.