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BMO Business Platinum Credit Card is a viable small business credit card for those with existing Bank of Montreal business checking accounts who intend to make significant purchases or make a large transfer. It offers a 0% introductory period on purchases and balance transfers for the first 18 billing cycles. However, it does not offer cardholders rewards.
If you wish to compare one card over another, choose a maximum of three cards on this page and click Add to Compare to view the details in a side-by-side comparison.
BMO Business Platinum Credit Card
BEST FOR:
Those with existing BMO checking accounts intending to make large purchases or transfers
Intro APR
0%
Regular APR
17.24% - 26.24% variable
Annual Fee
None
Credit Needed
Good to Excellent
- 0% introductory APR on purchases for 18 months from date of account opening
Pros
• 0% APR on purchases
• $0 annual fees
• Low ongoing APR compared to most other business credit cards
Cons
- Does not offer rewards for its new and existing cardholders
- BMO bank is located in only located in the following states: Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Arizona, and Florida.
- Extended warranty: Get double the original manufacturer’s―or United States store brand―warranty for up to one year on most new items you buy with your card. Note that these items must have an original manufacturer’s warranty of one year or less.
- Cellphone protection: Get up to $600 in cellphone protection after charging your monthly wireless telephone bill to your card. Note that terms and restrictions apply.
- Discounts on Intuit QuickBooks® and TurboTax®: Enjoy discounts on both Intuit QuickBooks® and TurboTax®, which can help streamline your accounting and simply your taxes. Note that terms and restrictions apply.
Intro APR
0%
Regular APR
17.24% - 26.24% variable
Annual Fee
None
Credit Needed
Good to Excellent
- 0% introductory APR on purchases for 18 months from date of account opening
Pros
• 0% APR on purchases
• $0 annual fees
• Low ongoing APR compared to most other business credit cards
Cons
- Does not offer rewards for its new and existing cardholders
- BMO bank is located in only located in the following states: Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Arizona, and Florida.
- Extended warranty: Get double the original manufacturer’s―or United States store brand―warranty for up to one year on most new items you buy with your card. Note that these items must have an original manufacturer’s warranty of one year or less.
- Cellphone protection: Get up to $600 in cellphone protection after charging your monthly wireless telephone bill to your card. Note that terms and restrictions apply.
- Discounts on Intuit QuickBooks® and TurboTax®: Enjoy discounts on both Intuit QuickBooks® and TurboTax®, which can help streamline your accounting and simply your taxes. Note that terms and restrictions apply.
When evaluating low-interest business credit cards like the BMO Business Platinum Credit Card, we consider the introductory and ongoing APRs first. Then, we evaluate introductory and ongoing rewards, annual fees, and features.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Introductory APR | 30 | 30 |
Ongoing APR | 20 | 30 |
Annual Fee | 10 | 10 |
Features | 8 | 10 |
Introductory Rewards | 0 | 10 |
Ongoing Rewards | 0 | 10 |
Total Score | 68 | 100 |
Who the BMO Business Platinum Credit Card Is Best For
- Those with existing BMO business checking accounts: If you already bank with the provider, getting this card allows you to manage all of your business transactions in one bank. If you’re interested in getting an account, our BMO Business Checking account review can help you determine if the account fits your needs.
- Those who intend to make significant purchases or large transfers: It offers a 0% introductory period for both purchases and balance transfers for the first 18 months from the date of your account opening.
Check out our recommended alternatives below if this card isn’t what you’re looking for.
BMO Business Platinum Credit Card Rewards
BMO Business Platinum Credit Card does not offer rewards. Despite this, you can save up to 25% at more than 40,000 merchants, including gas, meals, office supplies, and hotels through Mastercard Easy Savings™.
BMO Business Platinum Credit Card Features
Purchase Protection
- Cellphone protection: Get up to $600 in cellphone protection after charging your monthly wireless telephone bill to your card. Note that terms and restrictions apply.
- Purchase assurance: Acquire coverage for most items you buy with your card if it is damaged or stolen within 90 days of the purchase date.
- Extended warranty: Receive double the original manufacturer’s―or US store brand’s―warranty for up to one year on most new items you buy with your card. Note that these items must have an original manufacturer’s warranty of one year or less.
- Zero liability: BMO ensures that you only pay for purchases that you have authorized with your card, so unauthorized purchases are not your responsibility. Note that terms and restrictions apply.
Account Management
- Employee cards: Receive up to 20 additional cards so that employees can make purchases and help you earn more points on behalf of your business.
- Discounts on Intuit QuickBooks and TurboTax: Enjoy discounts on both Intuit QuickBooks and TurboTax, which can help streamline your accounting and simplify your taxes. Note that terms and restrictions apply.
Mastercard Benefits
- Mastercard Identity CheckTM: Mastercard provides an added layer of protection on your online purchases through Mastercard Identity CheckTM, which can help protect you against unauthorized use of your card.
- Mastercard ID Theft ProtectionTM: This helps protect your personal and financial information via credit bureau notifications, card replacement assistance, ID theft education, and access to identity theft alerts.
- MasterRental®: Decline the rental company’s collision damage waiver to receive coverage after using your card to pay for the rented vehicle (physical damage and theft).
- Mastercard Global ServiceTM: Call (800) 627-8372 to receive assistance on a lost or stolen card, get an emergency card replacement or cash advance, find the nearest ATM, and more.
BMO Business Platinum Credit Card Fees
APRs
- Introductory on purchases: 0% for the first 18 months from the date of account opening.
- Introductory on balance transfers: 0% for the first 18 months from the date of the first transfer done within the first 90 days from the date of account opening
- Ongoing and balance transfers: 16.49% to 25.49% variable, which adjusts with the prime rate
- Cash advance: 32.49% variable, which adjusts with the prime rate
Fees
- Annual: None
- Cash advance: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Balance transfer: Either $10 or 4% of the amount of each balance transfer, whichever is greater
- Foreign transactions: 2% of the transaction amount in US dollars (USD)
- Late and returned payments: $39
- Online: Visit www.centresuite.com/Centre/Public/Logon/ and input your login credentials.
- Phone: Call the phone number found on the back of your credit card by 4 p.m. central time for the funds to be posted by the next business day.
- In-person: Visit the nearest BMO Harris bank. Note that payment will be posted to your credit card account within two or three business days.
BMO Business Platinum Credit Card Alternatives
American Express Blue Business Cash
The American Express Blue Business Cash™ Card
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
17.74% - 25.74% Variable
Annual Fee
No annual fee
Credit Needed
Excellent, Good
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.74% – 25.74%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
- No Annual Fee
- Terms Apply
Pros
- 0% introductory annual percentage rate (APR)
- Welcome offer
- Fixed rate rewards
- $0 annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter. (Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.)
Intro APR
0% on purchases
Regular APR
17.74% - 25.74% Variable
Annual Fee
No annual fee
Credit Needed
Excellent, Good
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.74% – 25.74%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
- No Annual Fee
- Terms Apply
Pros
- 0% introductory annual percentage rate (APR)
- Welcome offer
- Fixed rate rewards
- $0 annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter. (Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.)
When To Consider American Express Blue Business Cash
- You need to spend beyond your credit limit: It offers expanded buying power, which allows you to exceed your credit limit after meeting certain conditions.
- You want a 0% introductory period: It gives you a 0% introductory period on purchases for the first 12 billing cycles.
Other Benefits
- Offers 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% cash back after the purchase cap is met
- Charges $0 annual fee
- Lets you add employee cards at no additional cost
The ability to spend beyond your credit limit, fixed-rate cash back rewards, and the 0% introductory period are why this is our top cash back business credit card and one of our best small business credit cards. However, it does not offer a 0% introductory period on balance transfers. See our guide to the leading American Express business credit cards for more options from the bank.
card_name
Ink Business Unlimited® Credit Card
BEST FOR:
Those who want fixed-rate 1.5% cash back on all purchases
Intro APR
0% Intro APR on Purchases
Regular APR
18.49% - 24.49% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
Intro APR
0% Intro APR on Purchases
Regular APR
18.49% - 24.49% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
When To Consider card_name
- You prefer earning fixed-rate cash back rewards: It lets you earn 1.5% cash back on all business-related purchases
Other Benefits
- Lets you earn $900 bonus cash back after spending $6,000 on purchases during the first three months after opening an account
- Charges $0 annual fee
- Offers up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
Its fixed-rate cash back rewards and the bank issuer being located in more than 40 states are why it is our leading small business credit card and our top credit card for new businesses with no credit history. For more options from the provider, check our list of the best Chase business credit cards.
Frequently Asked Questions (FAQs)
BMO Harris has more than 500 branches spread across the states of Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Arizona, and Florida.
Aside from operating in the US, you’ll need to provide basic information about your business. Nonprofit entities only require one obligator, which is referred to as the primary applicant, when completing the application. The primary applicant of a nonprofit entity will also act as an authorized representative of the business customer and will not be personally liable for the account.
Bottom Line
BMO Business Platinum Credit Card is a great small business credit card for those with existing Bank of Montreal business checking accounts intending to make large purchases or significant transfers. It has a 0% introductory period on purchases and balance transfers for the first 18 months from the date of account opening. While it offers a low minimum regular APR, it does not offer cardholders rewards.
Fit Small Business has partnered with CardRatings for our coverage of credit card products. Fit Small Business and CardRatings may receive a commission from card issuers.
