Best for: Business owners who want points on gas, office supplies and phone bills
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
Ranked #19 of 27 business cards for year one. See the list
See how we worked it out- Welcome offer you’d get
- $168
- The full offer. Up to 25,000 BMO Rewards points.
- Annual fee
- $0 first year
- Then $120 a year
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
Is it for me?
Do you spend $750 or more a month on gas, recurring bills and office supplies?
Do you pay your card off in full most months?
Answer the 2 questions to see if it fits.
The good and the bad
Stands out
- Good: 2 points per $1 on gas, recurring bills, office supplies and phone and internet At our value for these points, that’s about 1.3% back.
- Good: 0% on moved balances for 9 months A 3% fee to move them.
- Good: No fee in the first year Then $120 a year.
Watch for
- Watch for: Everything else earns 1 point per $1 That’s about 0.7% back, which is low.
- Watch for: $120 a year from year two You need about $750 a month on gas, recurring bills and office supplies to earn it back.
- Watch for: 22.99% after the 9 months Whatever you haven’t paid off by then is charged the regular rate.
Worked out from the card’s rates and fees.
What you’d earn
With small team spending of $6,000 a month.
BMO Rewards points valued at 0.67¢ each.
Rows are rounded to the dollar. Insurance counts at what the same cover costs on its own, and only pays when you charge the trip, rental or phone to the card.
What counts in each category
- Gas
- 2 points per $1
- Recurring bills
- 2 points per $1 Cellphone and internet bills. Office supplies also earn 2 points
- Everything else (base rate)
- 1 point per $1
- Office supplies
- 2 points per $1 office supplies
- Phone and internet
- 2 points per $1 cellphone and internet bill payments
3 points per $1 spent on office supplies
How BMO Rewards points work, and why 0.67¢
We count BMO Rewards points at 0.67¢ each, a typical value when you use them well. Depending on how you use them, they’re usually worth 0.33¢ to 0.67¢.
We set one value per points program and use it on every card in that program, so you can compare points cards and cash back cards on the same scale.
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
Can your spending get the offer?
At $6,000 a month, here’s when you’d reach each step.
-
1
25,000 BMO Rewards points · about $168
Spend $3,000 in your first 4 months.
You’d reach it in month 1.
- On purchases within the first 110
Offer end date not published.
Offer checked on Nov 8, 2026. Source
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.
Mr. Loonie’s tip Each application shows up on your credit file. Leave a few months between card applications.
Other reviewers on this card
-
MoneyGenius (opens in a new tab) Nov 20216
“The BMO Rewards World Elite Business Mastercard is a good choice for small business owners who want to earn flexible rewards on everything they buy – kicked off by a sizable sizeable welcome bonus worth about $469. You’ll also get a huge insurance package, extra protection against unauthorized purchases, and the annual fee is waived for the first year. One of the major drawbacks of the card is the fact that your points are worth less than 1 cent each when redeemed for travel – which is offered by many other flexible rewards credit cards on the Canadian market.”
-
Ratehub.ca (opens in a new tab) May 2018
“If cash back isn’t your preferred type of reward, you should consider the BMO Rewards Business Mastercard. This business credit card allows you to earn BMO Rewards points which you can redeem for electronics, gift cards, travel and more. The card’s annual fee is $120, and is waived in the first year.”
-
GreedyRates.ca (opens in a new tab) Feb 2018
“SMB owners with significant monthly gas, office supplies, mobile phone and internet bills have the most to gain from the BMO Rewards Business Mastercard. We recommend the card to those whose business expenses in those categories total more than $5700 per year ($475 per month), which will offset the card’s annual fee of $120.”
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What comes with it
- Car rental damage Included
- Extended warranty Included
- Purchase protection Included
- Travel accident Included
- Liability Waiver Program to protect your business against employee card abuse
- Trip Cancellation
- Trip Interruption/Trip Delay
- Lost/Delayed Baggage Insurance
- 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 and mobile device.
What it costs
- Annual fee
- $0 first year Then $120 a year
- Purchase interest
- 18.99%
- Cash advance interest
- 23.99%
- Foreign currency fee
- 2.5%
All fees and rates
Fees
- Fee waivers
- First year: $120 off (Waived on the first year)
- Cash advance fee
- 1%, Minimum of $5
- Balance transfer fee
- 5%, Maximum
- Over-limit fee
- None
- Late payment fee
- None
Interest rates
- Balance transfer interest
- 22.99%
- Intro rate: balance transfers
- 0% for 9 months, fee 3%
- Source
- Issuer page
Read the card terms and conditions for the full terms.
Similar cards for the same spending
With small team spending. This card: $854 year one, $567 every year after.
-
TD® Aeroplan® Visa Business Card
Year one $3,076Every year after $1,727 -
American Express® Aeroplan® Business Reserve Card
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CIBC Aeroplan® Visa Business Plus Card
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CIBC Aeroplan® Visa Business Card
Year one $2,216Every year after $1,536
See all cards ranked for your spending
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Questions people ask
What is the annual fee on the BMO Ascend Business Mastercard?
$0 the first year, then $120 a year.
How much is the BMO Ascend Business Mastercard welcome offer worth?
25,000 BMO Rewards points after you spend $3,000 in the first 4 months, worth about $168.
Does it charge a foreign transaction fee?
Yes, 2.5% on purchases in other currencies.
What is the interest rate?
18.99% 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 22.99%.
Does it include insurance?
It lists extended warranty, purchase protection and lost/delayed baggage insurance. 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.
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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.
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