Ramp Corporate Card Review: Dynamic Limits and Strong Cashback for Canadian Businesses

The Ramp Corporate Card is an exciting option for Canadian businesses seeking advanced spending power without traditional banking hassles. Ramp stands out by offering dynamic credit limits, which means your spending power adapts in real-time as your company grows. There’s no hard credit check on your personal file. Typically, approved businesses enjoy limits between $50,000 and $1 million or more, depending on cash flow and revenue. Expect a flat-rate cashback on purchases, with no annual, late, or foreign transaction fees. One condition: this card works best for incorporated businesses with strong revenue and a U.S. operational footprint or cross-border needs.

How to Apply for the Ramp Corporate Card

• Check that your business is incorporated and meets the minimum revenue requirements.
• Gather your business financial data and set up an online account with Ramp.
• Connect your business’s main bank account securely to allow Ramp to verify your cash flow instantly.
• Complete the digital application, confirming your business structure and authorized signatory.
• Receive approval, typically within 48 hours, and start issuing physical or virtual cards to your team.

Main Advantages

One notable advantage is the absence of hard personal credit checks or guarantees, allowing business owners to protect their finances. Ramp’s dynamic limit model means successful applicants get far higher spending power than with most banks.

Businesses get unlimited employee cards, category-specific controls, and integrated expense management, making bookkeeping fast and error-free. The cashback rewards program provides visible savings on every transaction.

Main Disadvantages

This card is currently limited to U.S.-based businesses, although firms with cross-border operations can benefit. It requires the full monthly balance to be paid off, so it’s not suitable for companies needing to carry a balance over time.

Some traditional features like instalment payments or extended financing are missing, and companies must have strong, consistent revenue to qualify for high limits.

Verdict

The Ramp Corporate Card is a top recommendation for high-growth companies seeking efficiency and scalability. Instant approvals, high limits, robust controls, and meaningful cashback make this card a standout, especially for companies with significant monthly expenses and teams that value automation.