I'd treat this as a partner card for businesses that already buy from Blue Rewards partners or book trips through Blue Rewards Travel. Those purchases earn 12.5 points per dollar, roughly 8% back at BMO's in-store rate, on up to $25,000 a year, and the card adds 4 free airport lounge passes, $5 million of travel medical and trip cancellation cover for a $175 fee that is waived in year one.
Outside the partner list the math is thinner. The 1.25-point base works out to about 0.83%, and gas and EV charging at 2.5 points is about 1.7%, capped at $1,000 a statement cycle. From what I can tell, a business whose spending sits mostly with general suppliers would do better on BMO's Ascend World Elite Business, which earns 4x on gas, office supplies and phone bills.
Welcome offer
BMO is advertising up to $1,960 in value, including up to 150,000 Bonus Points in your first year, for applications received between September 9, 2026 and November 30, 2027, verified on the BMO page on October 15, 2026. The points come in three steps of 50,000: for $10,000 in net purchases within 110 days of opening, for $20,000 within 180 days, and for $30,000 within 365 days.
BMO values the 150,000 points at up to $1,000, the in-store and eGift Card rate of 1,500 points per $10, or about 0.67 cents per point (cpp). The rest of the $1,960 is the $175 first-year fee waiver, five Maple virtual care visits ($520) and the DragonPass membership with four passes ($268). Existing BMO cardholders switching into this card and past holders of it are not eligible, and the bonus can be clawed back if the card is closed within 365 days.
The full offer needs $30,000 of business spend in a year, so route recurring costs (fuel, software, suppliers that take Mastercard) to this card from day one. If $10,000 in 110 days is the most you can manage, the realistic offer is 50,000 points, worth about $333 in store, plus the free first year.
Fees & eligibility
The card costs $175 a year, rebated in the first year for the primary cardholder. Employee cards are $50 each, up to 22, and any added in the first year are charged a prorated fee that is not waived. BMO's personal income bar is $80,000 (or $150,000 household), and it also accepts $250,000 in business revenue or $400,000 in assets under management.
Purchase interest is 20.99% and cash advances, including balance transfers, are 23.99%. The owners and the business are jointly liable for the debt, and the card is for business use only. BMO's business pages do not print the foreign currency conversion fee or the grace period length, so confirm both at bmo.com/yourbiz before relying on the card abroad.
Earning rewards
The card earns 12.5 Blue Points per dollar at participating Blue Rewards Partners, such as Pharmasave and Global Pet Foods, and on flights, hotels and car rentals booked through Blue Rewards Travel, powered by Expedia. That rate applies to the first $25,000 of partner purchases each calendar year.
Gas and EV charging in Canada earn 2.5 points per dollar on the first $1,000 each statement cycle, and everything else earns 1.25 points per dollar. You can also scan your Blue Rewards member card at checkout to collect partner points on top of the card's points.
Redeeming rewards
Blue Rewards is BMO's replacement for AIR MILES, and its anchor value is 1,500 points = $10 when redeemed in store at participating partners or for eGift Cards from more than 400 brands, about 0.67 cpp. At that rate the 12.5x partner earn is roughly 8% back, the 2.5x gas rate about 1.7% and the base about 0.83%.
For travel, Blue Rewards Travel (powered by Expedia) lets you cover a whole trip with points, including taxes and fees, or apply any amount of points and pay the rest with the card, excluding cruises and pay-at-property fees. BMO does not print a fixed travel value, and other redemptions carry their own rates, so check bluerewards.ca/value before redeeming.
Perks & benefits
The headline perk is a free Mastercard Travel Pass provided by DragonPass membership with 4 complimentary lounge passes per calendar year, usable by you or a travelling companion at 1,300+ lounges; after that, visits are US$32 each. That is twice the passes on BMO's Ascend World Elite Business.
The primary cardholder and a co-owner also get 5 free virtual care visits a year with Maple, and the card includes 24/7 roadside assistance. For running the business, you can issue up to 22 employee cards, protected by BMO's Waiver of Liability Program against employee misuse, and pick up Mastercard Easy Savings rebates, Avis and Budget discounts of up to 35% on prepaid rentals, and six months of Instacart+.
Insurance
The insurance is a full World Elite package. Emergency medical covers up to $5 million for the first 15 days of a trip outside your province, for the cardholder, spouse, dependent children and employees travelling with the cardholder, but only for those 64 or under on departure. Trip cancellation pays up to $1,500 per person ($5,000 per trip) and trip interruption up to $2,000 per person, including trips paid with points.
Flight delays over 4 hours pay up to $500 per trip, delayed bags over 6 hours up to $500 per person, and lost bags up to $500 per person ($1,000 total). Rental cars get collision and loss damage coverage for up to 48 days on vehicles with an MSRP up to $65,000, and there is $500,000 of common carrier accident cover and $1,000 of hotel burglary cover. Purchases are protected for 90 days and warranties extended by up to one year, to a $60,000 lifetime maximum. There is no mobile device insurance.
My take
I'd get this card if your business already spends with Blue Rewards partners or books travel through Blue Rewards Travel; I'd skip it if your costs are mostly fuel, software and phone bills, where BMO's Ascend card earns more.
The partner rate is where the value is: 12.5 points per dollar on up to $25,000 a year is about $2,083 in store value if you max it, and the 4 lounge passes, Maple visits and $5 million medical cover come along for a fee that is free in year one. The welcome offer is large too, though the last 50,000 points need $30,000 of spend in a year.
I'd be careful about the base rate. At about 0.83% back on general spend, this is not a card for a business that just wants one card for everything, and BMO's Ascend World Elite Business, at the same $175, earns 4x on gas, office supplies and phone bills. If partner spend is small, I think the Ascend is the better pick.
The good
- 12.5x at Blue Rewards partners and on Blue Rewards Travel
- 4 free DragonPass lounge passes a year
- $5 million travel medical and trip cancellation cover
The catch
- Base earn of about 0.83% back
- Partner bonus capped at $25,000 a year
- Employee cards are $50 each, not waived in year one