BMO Business Credit Cards: Which One to Choose?
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BMO issues five business credit cards in Canada: four that earn points and one that pays cash back. Three of them carry no annual fee (Ascend, CashBack and Blue Rewards), the two World Elite versions cost $175 a year each. Your choice comes down to two questions: do you want points or cash, and does your spending justify an annual fee?
- BMO Ascend World Elite Business Mastercard
- BMO Ascend Business Mastercard
- BMO CashBack Business Mastercard
- BMO Blue Rewards World Elite Business Mastercard
- BMO Blue Rewards Mastercard for Business
- A tutorial to apply for a BMO small business credit card
| Card | Annual fee | Personal income required | Rewards | Headline earn rate |
|---|---|---|---|---|
| BMO Ascend World Elite Business Mastercard | $175, waived the first year | None | BMO Rewards points | 4 points per dollar on gas, office supplies and cellphone and internet bills |
| BMO Ascend Business Mastercard | $0 | Not stated by BMO | BMO Rewards points | 2 points per dollar on gas, office supplies and cellphone and internet bills, up to $50,000 in purchases a year |
| BMO Blue Rewards World Elite Business Mastercard | $175, waived the first year | $80,000 | Blue Points | 2.5 points per dollar on gas and EV charging, 12.5 points per dollar with Blue Rewards partners |
| BMO CashBack Business Mastercard | $0 | None | Cash back | 1.5% on gas, office supplies and telecom, 1.75% at Shell |
| BMO Blue Rewards Mastercard for Business | $0 | Not stated by BMO | Blue Points | 2 points per dollar on gas and EV charging, 10 points per dollar with Blue Rewards partners |
| Credit card | Annual fee | Welcome offer | |
|---|---|---|---|
| $0 | |||
| $0 | |||
| $0 | |||
| $0 | |||
| $0 |
Travel Rewards
BMO Ascend World Elite®* Business Mastercard®*
The BMO Ascend World Elite Business Mastercard is one of the best business Mastercard travel rewards credit cards in Canada. You can earn up to 150,000 points as a welcome bonus:
- 50,000 points when you spend $10,000 on net purchases within the first 110 days of account opening;
- 50,000 more when you spend $20,000 within the first 180 days;
- 50,000 more when you spend $30,000 within the first 365 days.
The annual fee is $175, waived in the first year, and each of the first two additional cards has its $50 fee waived as well. You also get 2 free visits per year to DragonPass airport lounges.
With the BMO Ascend World Elite Business Mastercard, you earn 4 points per dollar spent on:
- gas
- office supplies
- cellphone and internet bill payments
And 1.5 points per dollar on all other purchases, including at Costco or for major purchases at home renovation stores.
You can use BMO Rewards points for any travel booked through the agency or website of your choice (flights, hotels, car rentals, all-inclusives, Airbnb, etc.) or for rewards and gift cards on the BMO Rewards platform.
These are the same BMO Rewards points as on the BMO Ascend Business Mastercard, the no-fee version presented below.
With the BMO Ascend World Elite Business Mastercard, you get a range of protections for your travels:
- Collision damage waiver insurance
- Personal and business effects in a rental vehicle
- Accidental death or dismemberment in a rental vehicle
- Baggage and personal effects
- Baggage delay
- Trip cancellation
- Trip interruption or delay
- Flight delay
- Common carrier travel accident
And for your purchases:
- Extended warranty
- Purchase protection
- Annual feeNo annual fee the first year
- $0 $175
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$1,005Annual fee rebated$175Total$1,180Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $1,180
- Welcome offerAfter $30,000 in 12 months
- Up to 150,000 points
Apply Now
on BMO's website
BMO Ascend Business Mastercard®*
The BMO Ascend Business Mastercard carries no annual fee and earns the same BMO Rewards points as the World Elite version. You earn:
- 2 points per dollar on gas, office supplies and cellphone and internet bill payments, up to $50,000 in purchases a year;
- 1 point per dollar on all other purchases, and on those categories once the cap is reached.
The welcome offer is 25,000 BMO Rewards points when you spend $3,000 on net purchases within the first 110 days, for applications made between June 2, 2026 and June 2, 2027. You also get a 0% introductory rate on balance transfers for nine months (a 3% transfer fee applies), and you can add up to 22 additional cards.
- Annual fee
- $0
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$168Total$168Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $168
- Welcome offerAfter $3,000 in purchases within 110 days
- 25,000 points
- Ends Jun 2, 2027
Apply Now
on BMO's website
Cash Back
BMO® CashBack® Business Mastercard®*
The BMO CashBack Business Mastercard is one of the best business cash back Mastercard credit cards in Canada.
You can get a cash back rate of 10% for three months on purchases of:
- gas
- office supplies
- cellphone and internet bill payments
After that, you get 1.5% on these purchases and 1.75% at Shell.
You can also take advantage of a 0% introductory interest rate on balance transfers for nine months (a 3% transfer fee applies).
- Annual fee
- $0
- Welcome offerPlus a 0.00% welcome interest rate on balance transfers for nine months, with a 3% balance transfer fee.
- Limited-time offer: 10% cash back for three months on gas, office supplies and mobile and internet bill payments.
Apply Now
on BMO's website
Blue Rewards
In 2026, BMO replaced its AIR MILES business cards with the Blue Rewards program. Two cards took their place: a World Elite version with an annual fee, and a no-fee version.
BMO Blue Rewards World Elite Business Mastercard
The BMO Blue Rewards World Elite Business Mastercard earns a base rate of 1.25 Blue Points per dollar on every purchase. You earn 2.5 points per dollar on gas and electric vehicle charging, up to $1,000 in net purchases per statement cycle, and 10 times the points with Blue Rewards partners such as Pharmasave and Global Pet Foods, up to $25,000 in net purchases a year.
Its benefits include a Mastercard Travel Pass membership through DragonPass with four lounge passes a year, five Maple consultations, travel insurance, purchase protection and an extended warranty. The annual fee is $175, waived the first year, and BMO asks for $80,000 in personal income.
- Annual feeNo annual fee the first year
- $0 $175
- Our valuationMilesopedia first-year estimate First-year valueAnnual fee rebated$175Total$175Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $175
- Welcome offer
- Up to $1,960 in value + First Year Annual Fee Rebate
- Ends Nov 30, 2027
Apply Now
on BMO's website
BMO Blue Rewards Mastercard for Business
The BMO Blue Rewards Mastercard for Business carries no annual fee and earns a base rate of 1 Blue Point per dollar. You earn 2 points per dollar on gas and electric vehicle charging, up to $1,000 in net purchases per statement cycle, and 10 times the points with Blue Rewards partners, up to $15,000 in net purchases a year. It includes Zero Liability protection, 90-day purchase protection and an extended warranty of up to one year.
- Annual fee
- $0
- Welcome offerAfter $3,000 in purchases within 110 days
- 30,000 points
Apply Now
on BMO's website
On-demand Health Care with Maple
With the two new BMO World Elite Business Mastercards, you can access on-demand health care:
- Get five free virtual care visits on Maple shared by you and your family members
- 24/7 access to virtual care
- Get support from Canadian-licensed general practitioners and mental health counsellors
- Connect with a mental health counsellor on-demand within 12 hours or through a bookable visit, at your convenience
To register for Maple, you will need to complete the registration email that you will receive within two weeks of receiving your credit card.
Small Business Credit Cards accepted at Costco
If you are a Costco customer, some good news: these Mastercard credit cards are accepted at Costco.
So you can earn at Costco:
- 1.5 points per dollar with the BMO Ascend World Elite Business Mastercard
- 1 point per dollar with the BMO Ascend Business Mastercard
- 1.25 Blue Points per dollar with the BMO Blue Rewards World Elite Business Mastercard
- 1 Blue Point per dollar with the BMO Blue Rewards Mastercard for Business
- 0.75% with the BMO CashBack Business Mastercard
How to apply for a BMO Business Credit Card?
A sole proprietorship is enough to apply for a BMO business credit card. Incorporation stays optional, and if you have no registered business name, you apply under your own name.
The form then asks for your business type, your industry and your business income. Answer with your real figures: they feed the review alongside your personal credit file.
When you apply for a BMO business credit card, here are some of the questions you will be asked, with suggested answers:
Then you will have to give information about the type of business (here, Sole Proprietor):
And about your industry (here: Personal and Household Service Industries / Other Services).
Then you have to answer No to the other 3 questions and then agree on the nature of the activities.
Then it will be your personal information, as with any credit card application. You will then be able to submit your application.
Bottom Line
Small Business credit cards are perfect for those who want to earn more points from their business expenses.
Check out our various rankings that you might be interested in:
| Credit card | Annual fee | Welcome offer | |
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BMO business credit cards: frequently asked questions
Which BMO business credit card should you choose?
It depends on what you want to earn. For travel points, the BMO Ascend World Elite Business Mastercard pays 4 points per dollar on gas, office supplies and telecom bills, for a $175 fee waived the first year. With no annual fee, the BMO Ascend Business Mastercard pays 2 points per dollar in those same categories, up to $50,000 in purchases a year. For cash with no annual fee, the BMO CashBack Business Mastercard pays 1.5% in those same categories and 1.75% at Shell.
Is a minimum income required for a BMO business card?
The BMO Ascend World Elite Business Mastercard and the BMO CashBack Business Mastercard set no minimum personal income: the review looks at your credit file and your business activity. The BMO Blue Rewards World Elite Business Mastercard is the exception, with $80,000 in personal income required.
Can you get a BMO business card as a self-employed worker?
Yes. A sole proprietorship is enough and incorporation is not required. The application asks you to state your business type and industry, then your personal details, as with any credit card application.
What are the bonus categories on the BMO Ascend World Elite business card?
It pays 4 points per dollar on gas, office supplies and cellphone and internet bills. Every other purchase earns 1.5 points per dollar, including at Costco. Its purchase rate is 18.99%. The no-fee BMO Ascend Business Mastercard boosts the same categories at 2 points per dollar, up to $50,000 in purchases a year, then 1 point per dollar.
Is the 0% balance transfer promotion still available?
Yes. BMO applies a 0% rate on balance transfers for nine months on the BMO Ascend World Elite Business Mastercard, the BMO Ascend Business Mastercard and the BMO CashBack Business Mastercard. A 3% transfer fee applies, and that is the percentage to subtract from your interest savings before deciding.
Are BMO business cards accepted at Costco?
Yes, because they are Mastercards and Costco accepts that network in Canada. Costco purchases earn your card's base rate: 1.5 points per dollar with the BMO Ascend World Elite Business Mastercard, 1 point per dollar with the BMO Ascend Business Mastercard, and 0.75% with the BMO CashBack Business Mastercard.
What happened to the BMO AIR MILES business cards?
BMO replaced them in 2026 with the Blue Rewards program. Two cards took over: a World Elite version at $175 waived the first year, and a version with no annual fee. The old AIR MILES business cards are no longer open to new applications.
Is the annual fee on a business card tax deductible?
The annual fee on a card used for your business is generally treated as a business expense in Canada, as is the interest on your business purchases. Your own situation decides how it is reported, so confirm the treatment with your accountant.
