BMO Commercial MasterCard Review

  • 4 min read

Wouldn’t it be great to find a comprehensive business credit card that offers a rewards program, with multiple options that are customized to fit your company’s needs? It exists, and comes in the form of the BMO Commercial Mastercard! The credit card offers quality, value, and a choice between multiple different card options to choose from. 

The BMO Commercial Mastercard allows business owners to consolidate their company’s spending, from purchases to fleet, travel, and entertainment, on one single-card program. This makes it much easier to manage business spending and the best part? You can choose from six different card options. You can turn your business expenses into rewards in the form of either BMO Rewards points, AirMiles, or cashback rewards. You also have the option between a U.S. or Canadian currency card, as well as a non-for-profit choice that provides no annual fee. These choices help to reflect the needs and diversity when it comes to Canadian businesses across the country.

Business owners earn and redeem points while making business purchases. The BMO Rewards Mastercard earns you 1.5 BMO Rewards points for every $1 spent. Meanwhile, the BMO Cashback rewards card provides 1% cashback on all eligible purchases, plus, there is no limit on cashback spending, and you earn this reward as you spend. Additionally, 1 AirMile reward point is made on every $20 spent on eligible purchases with the BMO AirMiles Mastercard option. 

The BMO U.S. Dollar Commercial Mastercard allows companies that deal within the U.S. an opportunity to manage fluctuating exchange rates while traveling in that country, or purchasing products and services from American-based suppliers. It also helps them avoid any related foreign fees.

The value of the BMO Commercial Mastercard also lies within features, benefits, and controls that the cardholder is given, with Merchant Category Code (MCC) blocking, as well as cash advance blocking, and daily transactions limits giving business owners power over their spending.

There’s also a layer of protection when it comes to fraud and misuse. The BMO Mastercard Liability Waiver is a program that provides up to $50,000 in coverage for each card account. Extended Warranty and Purchase Protection also helps against damages and theft of any items charged. 

Meanwhile, for those business owners on the go (and who are constantly stuck to their smartphone), the card provides digital payment options through your mobile device in the form of Google Pay and Apple Pay. If you see something that would work well with your business, you don’t need your wallet to buy it anymore!

Besides the rewards and benefits of the commercial credit card, there are also practical reasons for owning a BMO business Mastercard. One major advantage is an enhanced cash flow, where a grace period of 21 days before you have to make a payment. A single-card account helps owners pay for all kinds of business costs, and back-end reconciliation inefficiencies and payments are decreased, thus reducing business errors, or added admin expenses. 

BMO Spend Dynamics is an easy-to-use reporting and program management tool that provides business owners with advanced data collection and online reports. You have access to your transaction data right away and can analyze what you are spending. Lastly, centralized data helps to expedite expense reporting with all costs of the business, and they all are located in one area (on your BMO Mastercard account). This can lead to enhanced business spending analysis, as well as increased leverage when it comes to negotiating costs with suppliers.

Reward options, currency preferences, and not-for-profit card fee options, coupled with fraud and purchase protection, plus innovative digital tools, does make the BMO Commercial Mastercard stand out from the rest of the business credit product options offered at other banks. Plus, you also are reassured acceptance of the card, in Canada, the U.S.A, and worldwide with millions of merchants and ATMs globally accepting Mastercard as payment.

View more information about the BMO Commercial MasterCard.

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.