Loop · Corporate credit
Loop Card review
Loop’s corporate credit card lets you spend in CAD, USD, GBP and EUR with no FX fee on those currencies, and settle each currency’s balance separately. That’s useful if you earn in USD and want to pay USD expenses without converting back and forth.
Who Loop is best for
Canadian companies earning and spending in USD, businesses that want credit rather than a prepaid card and teams paying for international software and suppliers.
Businesses that want straight cashback and sole proprietors and unincorporated businesses.
Loop’s corporate credit card lets you spend in CAD, USD, GBP and EUR with no FX fee on those currencies, and settle each currency’s balance separately. That’s useful if you earn in USD and want to pay USD expenses without converting back and forth.
Credit limits go up to $1M, based on your business’s performance, and a free plan is available. Rewards come as Loop points you can redeem for gift cards rather than straight cashback. Loop is open to registered Canadian corporations.
Fees, features and eligibility
| Rewards | Loop points on card spend, redeemable for gift cards |
|---|---|
| Annual fee | CA$0 |
| Fees | Free plan; paid plans available |
| Payment terms | Balances settled per currency |
| Foreign transaction fee | 0% on CAD, USD, GBP and EUR |
| Card type | Corporate credit |
| Eligibility | Registered Canadian corporations |
| Currencies | CAD, USD, GBP and EUR |
Source: Loop published product information.
What stands out
Pros
- No FX fee on CAD, USD, GBP and EUR spend
- Credit limits up to $1M
- Free plan available
Cons
- Rewards are points, not cashback
- Registered corporations only
Loop: common questions
Does Loop charge FX fees?
Loop charges no FX fee on card spend in CAD, USD, GBP and EUR.
What credit limit can I get with Loop?
Up to $1M, based on your business’s performance.
Does Loop have a free plan?
Yes. Loop has a free plan, and paid plans add more features.
How are Loop card balances paid?
Balances are settled separately in each currency.
Does Loop pay cashback?
Loop pays rewards as Loop points, which you can redeem for gift cards.
Used Loop? Help other businesses choose.
