BMO AIR MILES® No-Fee Business® Mastercard® Review

  • 8 min read

Is it possible to own a business credit card that can increase company cash flow, and allow clients to earn rewards with every purchase they make? With the BMO AIR MILES No-Fee Business Mastercard* there is! The sign-up bonus for this business Mastercard is set at 1,000 Miles when customers charge $3,000 on the credit card within the first 90 days of account opening. That’s a value of $100. After that, clients collect 1 Mile on every $20 spent on the Mastercard, and 1.25 Mile(s) on every $20 charged when fueling up at Shell stations. As the name suggests, there is no annual fee, and Miles earned can be redeemed for gift cards, merchandise, as well as travel, and more.

BMO AIR MILES®† Business® Mastercard®*

BMO offers another option for business clients looking for a credit card that provides customer loyalty rewards. The BMO® AIR MILES®  Business® Mastercard®* does have an annual fee of $120; however, this is waived the first year. As an added “welcome offer” clients earn 3,000 “bonus” Miles if $5,000 is charged on the card within the first 90 days of account opening. After that, customers collect 1 Mile for every $10 spent, and 1.25 Mile(s) for every $10 charged at Shell gas stations. 

Both cards provide an added layer of benefits. First, for those who travel frequently on business, they offer Collision Damage Waiver and insurance including Car Rental, Personal Effects, & Business Property, Car Rental, Accidental Death & Dismemberment, Baggage & Personal Effects, Baggage Delay, Trip Cancellation, Trip Interruption/Trip Delay and Flight Delay, as well as Common Carrier Insurance. Added perks include Purchase Protection and Extended Warranty. Zero Liability insurance gives clients peace of mind that they’ll never be held accountable for unauthorized purchases; these business Mastercards offer a Liability Waiver Program that protects clients against employee credit card abuse, too.

The Big Five have competitive cards. For a rewards business banking credit card, TD has two options.

First, the TD Business Cash Back Visa Card has no annual fee and provides cash back on spending. Clients can earn 2% on eligible gas and office supplies, as well as recurring bill payments. All other purchases on the Visa earn 0.5% cash back. This card offers Extended Warranty and Purchase Security protection. Cash back is credited back to the business account, each year. 

The  TD Aeroplan Visa Business Card provides business clients the opportunity to collect Aeroplan Points to redeem for travel, as well as merchandise, gift cards, and more. It does come with an annual fee of $149; however, this may be worth it considering the rewards that come along with the Visa. There’s a welcome bonus of 25,000 points earned, as well as a Buddy Pass, and up to $247 worth of rebates on annual fees in the first year. Conditions do apply, and customers must apply by May 30, 2021, to be eligible for this sign-up bonus. The “Buddy Pass” incentive offers clients a second ticket when an economy flight is booked. Customers only need to pay third-party charges and taxes on their “Buddy Pass”.

With the TD Aeroplan Visa Business Card, clients earn 2 points for every dollar spent on Air Canada and Air Canada Vacations purchases. Also, 1.5 points are collected for dining, travel, and eligible business categories (i.e. internet, cable, phone services, and shipping). One point is collected for all other spending. Customers can earn “twice the points” when shopping at Aeroplan sponsored retailers, in-person and online when they present their Aeroplan customer number.

Added perks include 2.25 bonus points for every dollar spent on eligible purchases at Starbucks. It’s important to note that this offer ends November 7, 2021. Clients also get their first checked bag free when flying, as well as up to nine others on their travel reservation. Customers receive a variety of travel insurances with this card, including Travel Medical.

At CIBC, they provide business banking clients with four rewards-based credit card choices; however, all of them have an annual fee attached. CIBC’s Aventura Visa for Business is set with an annual fee of $120, but by adding $60 to this, clients are given an interest rate as low as 14.50% for cash advances and 12.99% on purchases. Customers can earn up to 60,000 Aventura Points, with 20,000 earned with their first purchase, 5,000 in added points, and 35,000 for their anniversary when $65,000 is spent within their first year. Clients collect 2 points on any travel spending via the CIBC Rewards Centre, 1.5 point(s) on other eligible travel purchases (like hotels, flights, car rentals, etc.), as well as gas spending, and 1 point on all other charges. 

Insurances provided on this Visa include Trip Cancellation and Interruption, Flight Delay and Baggage, Auto Rental Collision and Loss Damage, Common Carrier Accident, as well as Purchase Security and Extended Warranty Protection.

CIBC also offers Aventura Visa for Business Plus. It provides the same advantages as the above, but there are some slight differences. The number of supplementary cardholders is set as a maximum of nine for the regular Aventura Visa, while the Plus has 15 added cardholders (max), and clients need to pay $50 for each card placed on the account. 

In addition, there’s the CIBC Aeroplan Visa Business Card, where clients can collect up to 20,000 points, plus a “Buddy Pass” across anywhere in North America (this includes an economy class for flights to Mexico or Hawaii!) through the welcome offer. The annual fee is set at $180, with the first year waived. Plus, interest rates are set at 12.99% for purchases and 14.50% for cash advances. 

Customers collect 2 points for every dollar spent on Air Canada and Air Canada Vacations purchases. Also 1.5 point(s) are collected for eligible business categories like phone services, cable, internet, cable, and shipping. One point is collected for all other spending. 

Added travel perks include first checked bags are free, as well as up to eight others on their travel reservation, and up to four free Maple Leaf Lounge passes for a one-time visit, annually. Insurance coverage includes Trip Cancellation and Interruption, Flight Delay and Baggage, Auto Rental Collision and Loss Damage, Common Carrier Accident, as well as Purchase Security and Extended Warranty Protection.

Much like the Aventura Visa for Business, CIBC’s Aeroplan Business Visa has a “Plus” option. Added cardholders on the Plus is set at 15, and clients need to pay $50 for each cardholder on the account. The annual fee is $120, but it is waived for the first year. With that said, the interest rates are higher on the Plus, which are set at 19.99% for purchases and 22.99% for cash advances. Collecting points and the insurance coverages remain the same. 

At Scotiabank, their new Scotiabank Passport Visa Infinite Business card offers up to 40,000 Scotiabank Rewards (a value of approximately $400) to be earned within the first year the account is opened, and some conditions apply. Scotia Rewards can be redeemed for gift cards, travel, merchandise, plus more.

Clients can earn 1.5x the point(s) for every dollar spent on business purchases. Added perks include no foreign transaction fees on in-person or online charges. As well, customers can get a complimentary Priority Pass membership to gain access to airport lounges across the globe while flying. Added travel benefits include a free Avis Preferred Plus membership, Travel Emergency Medical Insurance, Trip Cancellation and Interruption, Flight Delay, Lost Baggage, Travel Accident, Rental Car Collision Loss/Damage Insurance, as well as Hotel/Motel Burglary Insurance. Waiver of Liability, Extended Warranty, and Purchase Security Protection are provided, too. Lastly, Scotiabank business clients unleash the Visa Infinite program with this credit card, which provides access to a 24/7 Concierge, and access to their Luxury Hotel Collection catalog when organizing trip accommodations. 

Lastly, the RBC Avion Visa Infinite Business is a credit card that also links rewards to business spending. With an annual fee of $175, clients can add a maximum of nine added cardholders, for a cost of $75 per person. Customers collect 1.25 in RBC Rewards point(s) for every dollar spent, with a cap of $75,000 annually. RBC also offers 25,000 welcome points when customers enroll. RBC Reward points can be redeemed for vacation packages, hotels, flights, the latest tech gadgets, as well as financial rewards vouchers or to pay down credit cards via the RBC Rewards website. Also, customers can link their Petro-Points card to save three cents per litre on gas when fueling up at participating Petro Canada gas stations. Clients also earn 20% more on RBC Rewards and Petro Points by doing this.

Added benefits on this RBC business banking credit card include Mobile Device Insurance, Out of Province/Country Emergency Medical, Lost or Stolen Baggage Insurance, Travel Accident Insurance, Emergency Purchases Insurance, as well as Auto Rental Collision/Loss Damage. Plus, clients gain access to the Infinite Concierge service to help with booking business travel plans, book tickets, make restaurant reservations, and pinpoint hard-to-locate items.

For more information on the BMO® AIR MILES®  Business® Mastercard®* and BMO AIR MILES No-Fee Business Mastercard*, visit their website.

Christopher - BSc, MBA

With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.