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Mr. Loonie
BMO CashBack® Business Mastercard®

BMO CashBack® Business Mastercard®

7.6
Good
Expert Score · 3 reviews How we score

Best for: Small businesses that want simple cash back with no annual fee

Your spending a month
What’s in each?
Solo:
Office supplies $100, shipping $50, phone and internet $150, software $150, online ads $200, gas $250, restaurants $200, travel $250, everything else (base rate) $1,050, foreign currency $100
Small team:
Office supplies $250, shipping $200, phone and internet $300, software $400, online ads $600, gas $500, restaurants $400, travel $400, everything else (base rate) $2,650, foreign currency $300
Growing:
Office supplies $500, shipping $600, phone and internet $600, software $1,000, online ads $2,000, gas $1,000, restaurants $800, travel $1,200, everything else (base rate) $6,300, foreign currency $1,000
Every year
$545

Ranked #22 of 27 business cards for year one. See the list

See how we worked it out
Balance transfers
0% for 9 months
3% fee, then 23.99%
Annual fee
None
Apply now on BMO’s site (opens in a new tab)
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from BMO’s site. Banks can update terms at any time, so give them a quick look before you apply. Source

What you’d earn Can I get it? Fees Similar cards
From the numbers

The good and the bad

Stands out

  • Good: 1.5% back on gas, recurring bills, office supplies and phone and internet
  • Good: 0% on moved balances for 9 months A 3% fee to move them.
  • Good: No annual fee It costs nothing to keep.

Watch for

  • Watch for: Everything else earns 0.75% back That’s low for everyday spending.
  • Watch for: 23.99% after the 9 months Whatever you haven’t paid off by then is charged the regular rate.
  • Watch for: 2.5% on foreign purchases Use a no foreign fee card when you travel.

Worked out from the card’s rates and fees.

Show your work

What you’d earn

With small team spending of $6,000 a month.

  • Office supplies $45
    1.5% back $250 a month · $45 a year
  • Shipping $18
    0.75% back $200 a month · $18 a year
  • Phone and internet $54
    1.5% back $300 a month · $54 a year
  • Software $36
    0.75% back $400 a month · $36 a year
  • Online ads $54
    0.75% back $600 a month · $54 a year
  • Gas $90
    1.5% back $500 a month · $90 a year
  • Restaurants $36
    0.75% back $400 a month · $36 a year
  • Travel $36
    0.75% back $400 a month · $36 a year
  • Everything else $239
    0.75% back $2,650 a month · $239 a year
  • Foreign currency $27
    0.75% back $300 a month · $27 a year
For you Year one Later years
Cash back you earn $635 $635
Annual fee $0 $0
Foreign currency fee2.5% on $3,600 a year −$90 −$90
Total $545 $545

Rows are rounded to the dollar.

What counts in each category
Gas
1.5% back
Recurring bills
1.5% back On cell phone/internet bill payments.
Everything else (base rate)
0.75% back
Office supplies
1.5% back office supplies
Phone and internet
1.5% back cellphone and internet bill payments

1.75% cash back on purchases made at Shell locations in Canada.

These are example budgets to compare cards side by side, not averages. Your own spending will give a different number.

Checked on Nov 10, 2026. Source

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Checked on Nov 8, 2026. Source

Mr. Loonie’s tip Each application shows up on your credit file. Leave a few months between card applications.

What critics say

Other reviewers on this card

7.6
Good
Expert Score How we score
  • MoneyGenius (opens in a new tab) Dec 2020
    7.8

    “This business credit card earned a score of 3.9 out of a possible 5 because it offers high cash back rewards for no annual fee. On top of the 1.5% cash back earn rate on your essential business spending categories, you’ll also get 1.75% cash back at Shell for an extra treat. The downsides of this card is you only get 2 types of insurance coverage and it has standard interest rates of 19.99% for purchases and 22.99% for cash advances.”

  • creditcardGenius (opens in a new tab) Jul 2018

    “If you’re looking for a no fee business credit card, and gas, office supplies, cellphone and the internet are some of your biggest expenses, it’s hard to go wrong with this card. It also comes with extended warranty and purchase protection to give you peace of mind when making purchases for your business – which is pretty standard for a no fee card.”

  • Ratehub.ca (opens in a new tab) May 2018

    “If you’re looking for a business credit card that lets you earn cash back, the BMO CashBack Business Mastercard is the credit card for you. This no annual fee credit card allows you to earn cash back specifically targeted for business spending.”

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

Applied and weren’t approved?

Insurance and perks

What comes with it

  • Extended warranty Included
  • Purchase protection Included
  • Liability Waiver Program to protect your business against employee card abuse
  • Emergency replacement cards
Coverage limits

We haven’t recorded the coverage limits for this card yet. Read BMO’s insurance certificate before you count on any coverage.

Not included

Not listed for this card: travel medical, trip cancellation, trip interruption, flight delay, lost baggage, car rental damage and mobile device.

Fees and interest

What it costs

Annual fee
None
Purchase interest
20.99%
Cash advance interest
23.99%
Foreign currency fee
2.5%
All fees and rates

Fees

Cash advance fee
1%, Minimum of $5
Balance transfer fee
5%, Maximum
Over-limit fee
None
Late payment fee
None
Source
Issuer page

Interest rates

Balance transfer interest
23.99%
Intro rate: balance transfers
0% for 9 months, fee 3%

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards for the same spending

With small team spending. This card: $545 year one, $545 every year after.

See all cards ranked for your spending

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the BMO CashBack® Business Mastercard®?

There is no annual fee.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

What is the interest rate?

20.99% on purchases. Cash advances are 23.99%.

Does it have a balance transfer offer?

Yes, 0% for 9 months. The transfer fee is 3%. After that, the rate is 23.99%.

Does it include insurance?

It lists extended warranty and purchase protection. Read the insurance certificate for the limits.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$545
a year for you
Apply now on BMO’s site (opens in a new tab)
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