This is the BMO card I'd point a sole proprietor to when they want a separate card for business spending without paying a fee or proving an income. No minimum income, no registered business name needed, and up to 22 employee cards make it an easy first business card.
The earning is modest, from what I can tell. The 1.5% categories (gas, office supplies, phone and internet) are useful but capped at $1,000 each per statement cycle, and 0.75% on everything else is low. If your business spending is mostly outside those three categories, a no-fee personal card with a higher base rate may earn more, though you would lose the clean separation of business expenses.
Welcome offer
BMO is offering 10% cash back on gas, office supply store purchases and cell phone and internet bill payments for the first 3 billing cycles, verified on the BMO page on October 13, 2026, for applications received by November 30, 2026. The bonus is capped at $150 in cash back, which you reach at $1,500 in eligible purchases, and only purchases at merchant locations in Canada count.
The offer also includes a 0.00% introductory rate on balance transfers for the first 9 statement periods, with a 3% transfer fee, for balances from cards outside BMO. It is limited to new accounts, one bonus per account, and the bonus cash back is cancelled if you close the card within 120 days.
The 10% applies only to the three bonus categories, so the full $150 needs $1,500 of fuel, office supplies or phone and internet bills inside three billing cycles. For a business with a vehicle and a couple of phone lines that is $500 a month; put those bills on the card first.
Fees & eligibility
There is no annual fee. Purchases carry a 20.99% interest rate and cash advances, which include balance transfers, 23.99%. New customers can move a balance from a non-BMO card at 0.00% for the first 9 statement periods, with a 3% transfer fee, after which the cash advance rate applies.
There is no minimum income requirement, and you do not need a registered business: sole proprietorships, single-owner and multi-owner corporations, partnerships and unincorporated associations can all apply. Each owner is jointly and severally liable with the business for the full balance. The business pages do not print a foreign transaction fee or the grace period length, so confirm both with BMO.
Earning rewards
The card pays 1.5% cash back on gas, office supply store purchases, and cell phone and internet bill payments, and 0.75% on everything else. The 1.5% rate applies to the first $1,000 spent in each of those categories per statement cycle, at merchant locations in Canada, after which they earn 0.75%.
There is no overall maximum on cash back. Compared with BMO's personal no-fee CashBack Mastercard, which pays 3% on groceries and 0.5% on everything else, this card shifts the bonus to business overhead and raises the base rate.
Redeeming rewards
Cash back is redeemed at bmocashback.com at full value, $1 for $1. You can take it as a statement credit or as a deposit to a BMO chequing, savings or InvestorLine account held by the primary cardholder, either as a one-time lump sum from $1 or as automatic recurring deposits from $25.
Only the primary cardholder, or someone they authorize, can redeem, and direct deposits must go to an existing BMO account held by the primary cardholder. Decide early whether the cash back should land in a personal account or simply come off the business card balance.
Perks & benefits
The perks are about managing a business account. You can add up to 22 employee cards, set up and close them online, and the BMO Business Credit Card Waiver of Liability Program protects the business against employee card misuse. Purchases get 90 days of purchase protection and up to 1 extra year of warranty, to a $60,000 lifetime maximum per account.
Smaller extras include Mastercard Easy Savings rebates of 1% to 25% at qualifying merchants, 30% off H&R Block tax filing, up to 35% off Avis and Budget prepaid rentals and three months of Instacart+. There is no travel insurance of any kind.
Insurance
Coverage is limited to purchases. Purchase protection covers most items charged in full to the card against theft or damage for 90 days, including business property and gifts, and extended warranty adds up to one year to a manufacturer's warranty that is valid in Canada. Both share a $60,000 lifetime maximum per account.
There is no travel medical, trip cancellation, rental car or baggage coverage, so book business travel on a card that has it.
My take
I'd get this card as a free first business card for a sole proprietor with fuel and phone bills; I'd skip it if most of your spending falls outside those categories or you travel for work.
No fee, no income test and no business registration make it about the easiest way to separate business spending from personal, and the employee cards and misuse protection are useful once you have staff. The 1.5% categories fit a typical small business's fixed costs.
What holds it back, as I read the terms, is the rest: 0.75% on general spending is low, the bonus categories cap at $1,000 each per cycle, and there is no travel insurance. Against BMO's own Ascend World Elite Business, which earns 4x points in the same categories for $175 a year after year one, this card makes sense mainly when you want to pay nothing.
The good
- No annual fee and no minimum income
- 1.5% on gas, office supplies and phone/internet bills
- Up to 22 employee cards with misuse protection
The catch
- 0.75% base rate on everything else
- Bonus capped at $1,000 per category per cycle
- No travel insurance