This is BMO's entry-level business rewards card: no annual fee, BMO Rewards points instead of cash back, and a purchase rate of 18.99%, which is lower than the 20.99% on BMO's CashBack Business and Blue Rewards Business cards. I'd point it at a sole proprietor or small company whose biggest card costs are fuel, office supplies and the phone and internet bills.
The catch is the value: BMO Rewards points are worth about 0.67 cents each on travel, so 2x works out to roughly 1.3% back and the 1x base to about 0.67%. You also can't apply online; BMO's page only offers to book an appointment, and the insurance stops at purchase protection and extended warranty.
Welcome offer
The offer is 25,000 BMO Rewards points when you put $3,000 in net purchases on the card within 110 days of opening the account, about $820 a month. At the 150 points per $1 that BMO quotes for travel through Pay with Points, that is roughly $166 toward travel. Applications must be received by June 2, 2027, and the points can take up to 8 weeks to post.
The second half is a 0.00% rate on balance transfers posted in the first 9 statement periods, with a 3% fee on each transfer. It is for new customers, Canadian-dollar balances only, and not for balances from other BMO cards. Existing BMO cardholders who switch into this card and past holders of it do not qualify for the points, and the bonus can be clawed back if you close the card within 365 days.
Route the business's regular costs (fuel, office supplies, phone and internet bills) through the card in the first few months; those also earn the 2x rate, so the $3,000 comes quickly for most small operations. If you move a balance over, remember purchases on top of it still accrue interest at 18.99% unless the full balance is paid.
Fees & eligibility
There is no annual fee, and you can add up to 22 employee cards. BMO's own documents disagree on what those cost: the product page lists no employee card fee, while the card's Benefits Guide (correct as of June 2, 2026) says employee cards carry a $50 annual fee each. Confirm with BMO before adding cards.
Purchases carry 18.99% interest and cash advances, which include balance transfers, 23.99%. No minimum income is printed. BMO's business pages do not print the foreign currency conversion fee or the grace period length, so check bmo.com/yourbiz before relying on the card abroad.
There is no online application. Where a personal card page shows Apply Now, this one shows Book an appointment, plus a branch finder and a phone line (1-877-225-5266), and BMO lists the documents to bring for a sole proprietorship, corporation, partnership or unincorporated association.
Earning rewards
The card earns 2 BMO Rewards points per $1 at gas stations, office supply stores and on cell phone and internet bill payments, on the first $50,000 a year of combined spending in those categories, then 1 point. Everything else earns 1 point per $1, with no cap.
At the 150 points per $1 BMO quotes for travel through Pay with Points, a point is worth about 0.67 cents per point (cpp), so the 2x categories return roughly 1.3% and the base rate about 0.67%. Category credit depends on how the merchant is coded in the Mastercard network: a gas station or office supply store's own merchant code, or a phone or internet bill.
Redeeming rewards
BMO Rewards points are spent through Pay with Points on bmorewards.com: charge travel to the card with any airline, hotel or agency, then apply points to it, from as little as $1. BMO's business terms put the rate at 150 points per $1 on travel and 200 points per $1 (0.5 cpp) on other purchases; the Ascend Business page itself does not print a rate.
There are no airline or hotel transfer partners, so the value is fixed. Gift cards, merchandise and contributions to a BMO investment account are also available. Points do not expire while the account is open and in good standing, and you get 90 days to redeem or reinstate them if you close it.
Perks & benefits
The useful business perks are control and protection: up to 22 employee cards for staff purchases, and the BMO Business Credit Card Waiver of Liability Program, which protects the business against employee misuse of their cards, subject to its own limits.
The rest are discounts: Mastercard Easy Savings rebates of 1% to 25% at qualifying merchants, up to 35% off Avis and Budget base rates when you prepay, 30% off H&R Block's DIY and assisted tax offerings, three months of Instacart+, and Cirque du Soleil discounts. There is no lounge access and no travel credit.
Insurance
Coverage is limited to purchase protection and extended warranty under BMO's business certificate. Items bought in full with the card, business property included, are insured against theft or damage for 90 days, and the original manufacturer's warranty (valid in Canada) is extended by up to 1 year. The two share a $60,000 lifetime maximum per account.
There is no travel insurance of any kind: no medical, trip cancellation, rental car or baggage cover. If your team travels, BMO's Ascend World Elite Business card adds a travel package for a fee.
My take
I'd get this card if your business spends steadily on fuel, office supplies and telecom and you want points without a fee; if you want simple cash back or travel insurance, I'd skip it.
For a no-fee business card it does the basics well: 2x on the costs most small businesses can't avoid, a lower purchase rate than BMO's other no-fee business cards, and a reachable 25,000-point bonus. At about 0.67 cents a point, though, the real return is modest, roughly 1.3% in the bonus categories and 0.67% everywhere else.
The friction is the appointment: you can't apply online, so plan a branch visit or call with your business documents ready. I'd also pin down the employee card fee before handing cards to staff, since BMO's page and Benefits Guide disagree on it.
The good
- No annual fee and a lower 18.99% purchase rate
- 2x on gas, office supplies and phone and internet bills
- 25,000-point bonus plus 0% balance transfers for 9 statement periods
The catch
- Points worth about 0.67 cpp at best, with no transfer partners
- No online application: apply by appointment with BMO
- No travel insurance; employee card fee unclear