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BMO Cashback Business Mastercard Review

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Get a generous welcome bonus and earn cashback whenever you shop for your business with this fee-free card.

Get 10% cash back on gas, office supplies, cell phone bills and internet bills for 3 months.

19.99%

Purchase Interest Rate

$0

Annual Fee

Details

Product NameBMO Cashback Business Mastercard
RewardEarn 1.5% cash back on eligible gas purchases, office supplies and on cell phone and internet recurring payments, earn 1.75% cash back at participating Shell stations, and earn 0.75% on all other eligible card purchases.
Welcome OfferGet 10% cash back on gas, office supplies, cell phone bills and internet bills for 3 months.
Purchase Interest Rate19.99%
Cash Advance Rate22.99%
Balance Transfer Rate22.99%
Interest Free Period 25 days
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More Info

The BMO Cashback Business Mastercard is a basic fee-free card that lets you earn cashback on all of your purchases. Earn 1.5% cash back on eligible gas purchases, office supplies and on cell phone and internet recurring payments, earn 1.75% cash back at participating Shell stations, and earn 0.75% on all other eligible card purchases. This card also comes with a welcome bonus and purchase protection.

30-second take

  • Think about this card if you want to earn a welcome bonus and you’re looking for a fee-free card.
  • Choose something else if you’d rather earn rewards or you’d prefer more comprehensive benefits.
  • There are no annual income requirements for this card, but you may need to prove that you own a business in Canada.

The basics

If you want to earn cashback on all of your purchases, then you might like to check out the BMO Cashback Business Mastercard.

  • No annual fee. This card has a $0 annual fee.
  • Decent return. Earn 1.5% cash back on eligible gas purchases, office supplies and on cell phone and internet recurring payments, earn 1.75% cash back at participating Shell stations, and earn 0.75% on all other eligible card purchases.
  • Accelerated rates at Shell. Get 1.75%% cashback when you fuel up or make eligible purchases at Shell.
  • Welcome bonus. Get 10% cash back on gas, office supplies, cell phone bills and internet bills for 3 months.
  • Purchase insurance. Protect your purchases against theft or damage and enjoy extended warranty protection on consumer goods you buy with your card.

The perks

  • Liability waiver program. Avoid losing money if your employees make unauthorized or fraudulent purchases on your account.
  • Free additional cards. Order as many additional cards as you need to hand out to employees at no extra cost.
  • Accepted at Costco. Scan this card to make bulk purchases for your business at Costco.
  • Enhanced security. Use your Mastercard SecureCode to protect your purchases online.
  • Global service. Get 24/7 help if you lose your card or run into trouble while travelling overseas.

How much cashback can I earn with this card?

Earn 1.5% cash back on eligible gas purchases, office supplies and on cell phone and internet recurring payments, earn 1.75% cash back at participating Shell stations, and earn 0.75% on all other eligible card purchases..

What to watch out for

  • Low return on everyday purchases. You’ll only earn 0.75% cashback for every dollar you spend on everyday purchases like groceries and eating out
  • High interest. This card has a purchase interest rate of 19.99% and a cash advance rate of 22.99%.
  • Limited benefits. You won’t receive common benefits like travel insurance, discounts on car rentals or mobile device insurance.
  • No rewards. You won’t be able to collect rewards on this card, which means you can only be reimbursed in cash.

What should I know before I apply?

Eligibility requirements

To apply for a BMO Cashback Business Mastercard, you need to meet the following criteria:

  • Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces)
  • Own a business in Canada

Required documents and information

  • Your name, residential status and contact information
  • Your social insurance number and date of birth
  • Your email address and phone number

How to apply for the BMO Cashback Business Mastercard

  1. Click the green “go to site” button above to be securely redirected to the BMO Cashback Business Mastercard application.
  2. Complete the application, which includes providing your name, email address, social insurance number and birth date.
  3. Review and submit your application.

I got the card, now what?

Once you receive your card in the mail, you can activate it to start spending money. The best way to optimize the amount of cashback you earn is to target your spending towards categories with higher earn rates such as gas and office supplies.

How do I redeem cashback from my BMO Cashback Business Mastercard?

You can easily redeem your BMO cashback by logging into your BMO bank or credit card account. From there, you can use your cashback to invest in a BMO InvestorLine Account. You can also use the cashback you earn to pay off your credit card balance.

Bottom line

The BMO Cashback Business Mastercard may be a good option for you if you’re looking for a fee-free business card. It doesn’t come with a ton of benefits but it will give you a generous welcome bonus when you sign up, along with accelerated rates when you fuel up or make purchases at Shell. It also comes with basic insurance, such as extended warranty coverage and purchase protection.

Frequently asked questions about the BMO Cashback Business Mastercard

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