Canada's first no-FX credit card. Get access to higher limits and save an average of 2.5% in fees compared to traditional banks.
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Hear from visionary startups and leading brands who use Loop to build thriving businesses.
The Loop US bank account is completely life changing for our business. In our first year using Loop, we will benefit from about $50k in gains straight to our bottom line. So a really big thank you for coming out with this product.
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Our business was looking for working capital when we discovered Loop. Getting the capital we needed was simple, fast and a big game changer for us. We've seen immediate results and continue to partner with Loop.
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If you're a Canadian ecommerce merchant, you should get a Loop card. They have fixed all our cash flow issues, FX costs and issues with paying suppliers around the world. Saving us lots of money and headaches. Plus their team is great!
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Loop is the ultimate no-FX credit card designed to help you grow your business offering the lowest fees, best-in-class rewards, longer interest-free spending periods and repayment flexibility.
No annual fees
$99 - $699
No monthly fees
$25+
No FX fees on purchases
Avg. 5.7%
Repay in multiple currencies
No
Credit limits
Based on Business
Based on FICO
Earn rewards on USD spend
No
All Loop Cards are enabled with multi-currency functionality that allows global spending with no FX fees or currency conversions on CAD, USD, EUR and GBP purchases. When you spend in any of these currencies, you will accumulate a balance per currency and can settle those balances separately. The Loop Card is designed to help you avoid unwanted currency conversions and increase your control over purchasing fees.
There are no monthly or annual fees associated with the Loop Card. Loop does offer platform subscription plans which offer additional benefits such as market-leading FX rates and customizable card controls.
Card transactions that match any of the currencies enabled on your card (CAD, USD, EUR, GBP) don’t result in any conversions and therefore are completely free of any FX fees. If you spend in a currency that is not enabled on your Loop card the FX fee will be the Visa® rate plus a 0.1% - 0.5% markup depending on your Loop subscription plan.
To pay your Loop Card, you can either make a payment directly from one of your Loop Operating Accounts, or from a linked bank account.If you make purchases in more than one currency but only have Canadian-dollar funds, you can still make the purchases without the card converting it to CAD. At the end of your billing period, you can convert money from your CAD account into the currencies you owe. If you need to do this, Loop offers low-cost FX conversion with only a 0.1% - 0.5% mark-up (depending on your Loop subscription plan). Most banks charge a 3-4% markup on average.In most cases, Loop's FX rates are even better than online FX service providers like Wise and OFX. When you need to exchange currencies, doing your FX through your Loop Card significantly saves businesses both time and money.
The amount of credit that your business will qualify for depends on a variety of factors including, but not limited to, how long the business has been generating revenue for, the monthly sales of the business, and the overall financial health of the business and its beneficial owners. To get qualified, start your Loop Registration today - our team can approve credit reviews in as little as 2 days.
Yes, the Loop Card offers a reward points program that can be accessed directly through the Loop Dashboard. The points earn rate depends on your Loop subscription plan. On our paid plans, you are rewarded with 2 points per dollar spent on your Loop Card, which is worth 1% back in value. The Loop reward points are redeemable for Canadian-dollar gift cards at major merchants such as Amazon, Apple, Uber, Walmart, Air Canada and Expedia.
You can use your Loop Card anywhere Visa is accepted!
Loop Cards should be used only for their intended business purposes, such as making online purchases, paying bills, paying for advertising or managing subscription services. If you have any questions about our Fair Use Policy or any other limitations on card creation on our platform, please review our Fair Use Policy in the Loop Help Center or contact our customer support for further assistance.
At Loop, we’ve developed valuable features that make it easy and customizable to control and review your card expenditures. You can add multiple virtual and physical cards to your account, set spending limits and rules for each card, and set up an expense approval system directly through Loop. To learn more about our expense management features click here.
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