BMO’s mainstay premium small business
card, the BMO Rewards® Business Mastercard® sees the return of it’s 50,000 point welcome bonus which ran for the latter half of 2020 all the way into February of this year. The 50,000 bonus
points are awarded when you spend $5,000 or more on the card in the first three
months of having it. On top of that the annual fee of $120 is waived for
the first year of
having the card. That means you basically get those 50,000 points at no
cost outside of the spending that you actually put on the card.
Once you meet the minimum spend requirement you’ll receive those 50,000
bonus points which are worth $333 towards any travel booked via
bmorewards.com.
Here are some of the key features of the BMO Rewards® Business Mastercard® to also take into account on top of the welcome bonus
· Get 3 BMO Rewards points for every $1 you spend on gas, office supplies and cell phone/internet bill payments
· Earn 1.5 BMO Rewards points for every $1 you spend
· Strong travel insurance package
Much like the personal version of the card this business card’s
insurance will also cover you when you fly on award tickets from other
loyalty programs.
As they state in their insurance policy you will be covered is you pay
for the full or partial cost of a trip with this card. This means you
can redeem Aeroplan miles, AIR MILES, etc. for a flight and as long as
you pay for the taxes and fees with the BMO Rewards Business Mastercard you have met the partial payment requirement to avail of trip
cancellation, trip interruption, flight delay, baggage insurance etc.
Back to the points side and redeeming them – it takes 150 points
for a $1 travel redemption and with accelerated earn rate of 3 points
per dollar for gas, office supplies
and cell phone/internet bill payments your return is 2% however the
remainder of your spending at 1.5 points per
dollar only provides a 1% return. The Points have to be redeemed via
BMO
Rewards unlike some of its fiercest competition that allow their
cardholders to make their own bookings with any travel provider and
redeem points against those charges. When redeeming with this card you
want to try to do it online as BMO
Rewards will charge you for bookings made over the phone.
Here’s a quick review of the pros and cons of this card
Pros
- Great welcome bonus of 50,000 points + first year annual fee waiver
- Excellent insurance package that covers award tickets
Cons
- The everyday spending return of 1.00% is on the lower side of earn rates
- Having
to book via bmorewards.com can be less flexible than some competitors
who let you book any way you want and then redeem points against the
charge.
Learn more about and apply for the BMO Rewards® Business Mastercard® here.
In the market for a different BMO card? Check the entire list of card offers here.