BMO Business Platinum Rewards Credit Card is a small business credit card from the Bank of Montreal (BMO). It is viable for those with existing BMO business checking accounts wanting to earn up to 5x points for every dollar spent on eligible purchases. It does not charge annual fees and offers a 0% introductory period on purchases and balance transfers.
If you want 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 wanting to earn points rewards
Intro APR
0%
Regular APR
20.49% to 29.49% variable
Annual Fee
None
Credit Needed
Good to Excellent
- Up to 100,000 rewards points in your first year — earn 50,000 bonus rewards points after spending $5,000 within the first 3 months of account opening, and an additional 50,000 bonus rewards points after spending at least $50,000 within the first 12 months of account opening
- 5x points for every dollar spent on internet and phone services
- 4x points for every dollar spent on office supplies and printing
- 3x points for every dollar spent on gas
- 2x points for every dollar spent on eligible dining purchases
- Unlimited 1x points for every dollar spent on all other eligible purchases
Pros
- With sign-up bonus
- Has a 0% introductory period on purchases and balance transfers
- Offers generous points rewards
Cons
- Points value is worth less than most issuers
- Charges foreign transaction fees
- 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
20.49% to 29.49% variable
Annual Fee
None
Credit Needed
Good to Excellent
- Up to 100,000 rewards points in your first year — earn 50,000 bonus rewards points after spending $5,000 within the first 3 months of account opening, and an additional 50,000 bonus rewards points after spending at least $50,000 within the first 12 months of account opening
- 5x points for every dollar spent on internet and phone services
- 4x points for every dollar spent on office supplies and printing
- 3x points for every dollar spent on gas
- 2x points for every dollar spent on eligible dining purchases
- Unlimited 1x points for every dollar spent on all other eligible purchases
Pros
- With sign-up bonus
- Has a 0% introductory period on purchases and balance transfers
- Offers generous points rewards
Cons
- Points value is worth less than most issuers
- Charges foreign transaction fees
- 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 points rewards business credit cards like the BMO Business Platinum Rewards Credit Card, we first weigh the ongoing and introductory rewards. We also take the following into account: annual fee, introductory and ongoing annual percentage rates (APRs), and additional card features.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 20 | 30 |
Introductory Rewards | 20 | 20 |
Annual Fee | 15 | 15 |
Features | 12 | 15 |
Introductory APR | 7 | 10 |
Ongoing APR | 7 | 10 |
Total Score | 81 | 100 |
Who the BMO Business Platinum Rewards Credit Card Is Best For
- Those with existing business checking accounts with BMO: 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 it fits your needs.
- Online and phone businesses: It lets you earn 5x points on every dollar spent on internet and phone services.
Check out our recommended alternatives below if this isn’t what you’re looking for.
BMO Business Platinum Rewards Credit Card Rewards
- Up to 100,000 rewards points in your first year—earn 50,000 bonus rewards points after spending $5,000 within the first 3 months of account opening, and an additional 50,000 bonus rewards points after spending at least $50,000 within the first 12 months of account opening
- 5x points for every dollar spent on internet and phone services
- 4x points for every dollar spent on office supplies and printing
- 3x points for every dollar spent on gas
- 2x points for every dollar spent on eligible dining purchases
- Unlimited 1x points for every dollar spent on all other eligible purchases
BMO Business Platinum Rewards Credit Card Calculator
Find out how much you can earn from the BMO Business Platinum Rewards Credit Card based on your estimated monthly expenses. Use our rewards calculator to compute your potential rewards—just enter your expected monthly spending, and our calculator will do the rest.
Note that each point is valued at 1 cent.
How To Redeem BMO Business Platinum Rewards Credit Card Rewards
You can redeem your earned points rewards on travel, gift cards, shopping discounts, and cash. Head over to www.bmoflexrewards.com for more details.
BMO Business Platinum Rewards 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: Receive coverage for most items you buy with your card if it is damaged or stolen within 90 days of the purchase date.
- Extended warranty: Get double the original manufacturer’s (or United States 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.
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 the 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 Rewards Credit Card Fees
APRs
- Introductory on purchases: 0% for the first nine months after account opening
- Introductory on balance transfers: 0% for the first nine months from the date of the first transfer done within the first 90 days from the date of account opening
- Ongoing and balance transfers: 20.49% to 29.49% variable, which adjusts with the prime rate
- Cash advances: 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 transaction: 2% of the transaction amount in US dollars (USD)
- Overlimit, late, and returned payments: $39
- Online: Go to 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 to three business days.
BMO Business Platinum Rewards 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
18.49% - 26.49% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- 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, 18.49% - 26.49%, 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.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- 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.
Intro APR
0% on purchases
Regular APR
18.49% - 26.49% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- 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, 18.49% - 26.49%, 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.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- 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.
When To Consider American Express Blue Business Cash
- You intend to spend beyond your credit limit: It offers expanded buying power, which allows you to exceed your credit limit after meeting certain conditions.
- You need 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 leading 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.
Chase Ink Business Cash®
Ink Business Cash® Credit Card
BEST FOR:
Office-based businesses that want top cash back rewards
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 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
- 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.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- Top rewards for office supply spending
- Introductory APR on purchases
- Cash sign-up bonus
Cons
- 0% APR doesn’t apply to balance transfers
- High balance transfer fee of 5%
- Designed mainly for office-oriented companies
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
- Extended warranty protection: Extends the time period of the United States manufacturer’s warranty by an additional year on eligible warranties of three years or less.
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 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
- 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.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- Top rewards for office supply spending
- Introductory APR on purchases
- Cash sign-up bonus
Cons
- 0% APR doesn’t apply to balance transfers
- High balance transfer fee of 5%
- Designed mainly for office-oriented companies
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
- Extended warranty protection: Extends the time period of the United States manufacturer’s warranty by an additional year on eligible warranties of three years or less.
When To Consider Chase Ink Business Cash®
- You need premium rewards on purchases at office supply stores and on internet, cable, and phone services: It lets you earn 5% cash back on the first $25,000 in combined purchases at office supply stores and on internet, cable, and phone services.
Other Benefits
- Has a 0% introductory period on purchases for the first 12 billing cycles from the date of account opening
- Charges $0 annual fee
- Lets you create employee cards at no additional cost
Its premium rewards are why the card landed a spot in our roundups of the best business credit cards for startups and leading business credit cards for consultants. Note that the card does not offer a 0% introductory period on balance transfers. For additional options from the provider, see our list of the top Chase business credit cards.
Bank of America® Business Advantage Customized Cash Rewards
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card
BEST FOR:
Those who want to earn 3% cash back in a spending category of their choice
Intro APR
0%
9 billing cycles
9 billing cycles
Regular APR
18.49% - 28.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn 3% cash back in the category of your choice: gas stations & EV charging stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining purchases and 1% cash back on all other purchases.
- You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- You can earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% cash back in your selected choice category and up to 3.5% cash back on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
- No annual fee
- Choose how to redeem your cash rewards-as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you. Cash rewards don’t expire.
- To change your choice category for future purchases, you must go to the Mobile Banking app or Business Advantage 360, our small business online banking. You can change it once each calendar month, or make no change and it stays the same.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.49% to 28.49% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- Offers flexible redemption options
- Doesn’t charge annual fees
- With sign-up bonus
Cons
- Premium cash back rewards are capped on a selected spending category
- Charges foreign transaction fees
- Short introductory APR period
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
Intro APR
0%
9 billing cycles
9 billing cycles
Regular APR
18.49% - 28.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn 3% cash back in the category of your choice: gas stations & EV charging stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining purchases and 1% cash back on all other purchases.
- You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- You can earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% cash back in your selected choice category and up to 3.5% cash back on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
- No annual fee
- Choose how to redeem your cash rewards-as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you. Cash rewards don’t expire.
- To change your choice category for future purchases, you must go to the Mobile Banking app or Business Advantage 360, our small business online banking. You can change it once each calendar month, or make no change and it stays the same.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.49% to 28.49% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- Offers flexible redemption options
- Doesn’t charge annual fees
- With sign-up bonus
Cons
- Premium cash back rewards are capped on a selected spending category
- Charges foreign transaction fees
- Short introductory APR period
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
When To Consider Bank of America® Business Advantage Customized Cash Rewards
- You want to earn premium rewards on the category of your choice: This card lets you earn 3% cash back on the category of your choice and 2% cash back on dining purchases on the first $50,000 in combined choice category/dining purchases each calendar year.
Other Benefits
- Has a 0% introductory period on purchases for the first nine billing cycles
- Charges $0 annual fees
- Lets you earn $300 in statement credit after spending at least $3,000 in net purchases within the first 90 days of card opening
- Offers additional rewards between 25% to 75% more for existing Bank of America checking account depositors who qualify for the Preferred Rewards for Business program
Its unique rewards structure is why the card is named one of our best cash back business credit cards. Check our roundup of the best Bank of America business credit cards for more options from the issuer.
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 Rewards Credit Card is a great pick for those with active BMO checking accounts wanting to earn points rewards. On top of earning premium rewards on selected spending categories, it also offers a 0% introductory period on purchases and balance transfers for the first nine billing cycles. Note, however, that BMO Harris is only located in eight states.
