BMO Rewards Business Mastercard Review
Recommended Credit Score:
670 900
Average to Excellent
$250
Welcome Bonus Value
$120
Annual Fee
14.99%
Purchase Interest Rate
NA
Min Personal Required
BMO Rewards Business Mastercard
My Rate Compass Rating: star star star star star_outline (4)
Bank Name:BMO
Network Type:Mastercard
BMO Rewards Business Mastercard
Welcome Bonus
Annual Fee
$120
BMO Rewards Business Mastercard
Card Details
  • Earn 3 BMO Rewards points for every $1 you spend on gas, office supplies and cell phone/internet bill payments
  • Earn 1.5 BMO Rewards points for every $1 you spend

Extra Benefits:

  • Optional Employee Cards - empower employees with delegated purchasing authority

Acceptance:

Now you can use your BMO Business Mastercard at Costco locations across Canada

Protection:

  • Liability Waiver Program protects your business against employee card abuse
  • Plus, enjoy Extended warranty and Purchase Protection
Insurance
  • Priority airport services Yes
  • Airport lounge access No
  • Concierge service Yes
  • Balance protection(Optional) No
  • Purchase Security & Extended Protection Insurance Yes
  • Flight delay insurance,Baggage Insurance Yes
  • Vehicule rental insurance Yes
  • Travel accident insurance Yes
  • Travel medical insurance Yes
Fees and Eligibility
Fees
  • Annual Fee: $120
  • Additional Card Fee: $0
  • Purchases Interest Rate: 14.99%
  • Cash Advance Interest Rate: 22.99%
Eligibility
  • You're a Canadian resident
  • You've reached the age of majority in your province or territory
Recommended Credit Score:
670 900
Average to Excellent
Our Rating
My Rate Compass Rating: star star star star star_outline (4)
Rating Methodology: My Rate Compass's ratings are determined by our editorial team. Our editors rate credit cards objectively based on the benefits and features the credit card offers, interest rates, the fees, and how a credit card compares with other cards in its category. Credit card rating methodology
Editorial Guidelines: Learn more about our editorial guidelines here.
Pros and Cons
This card offers a lot of travel Protection:

  • Simply use your BMO Rewards Business Mastercard to pay for your travel arrangements and you are eligible to benefit from the following insurance benefits. Collision Damage Waiver
  • Car Rental Personal Effects & Business Property
  • Car Rental Accidental Death & Dismemberment
  • Baggage & Personal Effects
  • Baggage Delay
  • Trip Cancellation
  • Trip Interruption/Trip Delay
  • Flight Delay
  • Common Carrier Insurance
Editor's Review

The BMO Rewards Business Mastercard has numerous benefits. The most notable benefit is the ability to collect and redeem BMO Rewards points. When you spend on gas, office supplies, cell phone bills and internet bills, you’ll earn 3 points per dollar spent. All other purchases earn 1 point per dollar spent. Points can be put towards travel or merchandise.

 

Other benefits of this credit card include optional cards for employees, travel protection, purchase protection, extended warranty and protection against employee credit card abuse. Not only can this card provide a convenient payment method, you can also use the perks to better operate your business and protect against risk. Finally, the interest rate on this credit card is 14.99% which is slightly lower than the industry average.

 

To use the BMO Rewards Business Mastercard, there is an annual fee of $120. Although, the annual fee will be waived in the first year. If you sign up before October 31, 2020, you’ll be eligible to receive a welcome bonus offer of 35,000 BMO Rewards points. In order to receive the bonus, you must spend $5,000 within the first three months of card ownership.

.