BMO Air Miles Business Mastercard

Annual Fees
First year free
$120
Purchase Interest Rate
19.99%
Cash Advance Interest Rate
22.99%
Interest Free Grace Period
25 Days
Up to 3,000 Air Mile bonus miles, no annual fee for the first year

Business owners need to exercise precise control over their company’s finances, but they also might need authorized employees to make purchases as demand requires. With the BMO Air Miles Business Mastercard, they can do both, all while earning a big discount on upcoming vacations or business trips. The card is similar to the Amex Air Miles for Business card, but BMO’s offering has a cheaper annual fee, a slightly better introductory bonus and is less restrictive concerning which purchases are eligible to earn Miles.

With their first purchase, cardholders of the BMO Air Miles Mastercard are awarded 1,000 Air Miles straightaway, and can earn an additional 2,000 Air Miles for spending a minimum of $5,000 during the first three months. To sweeten the deal BMO waives the first year’s annual fee of $120.

Basic Rewards Structure

Cardholders earn a consistent 1 Air Mile for every $10 they spend, with no restrictions on where or what they buy. Lesser Air Miles cards accrue 1 Air Mile for every $15-$20 spent.

Accelerated Rewards Structure

Like other Air Miles cards, BMO grants a greater amount of Air Miles to customers who purchase gas and other products at any of Canada’s many Shell stations. The accelerated earnings rate of 1.25x essentially means that every $8 spent at Shell earns 1 Air Mile.

About Air Miles

Air Miles is one of the most popular loyalty programs Canada has, as Miles can be redeemed for a wide variety of flights around the world, hotel accommodations, merchandise and more. We estimate one Air Mile to be worth around $0.105.

Including the introductory bonus of up to 3,000 Air Miles, cardholders who charge $5,000 per month to their BMO Air Miles Business Mastercard will have over 9,000 Miles at the end of their first year—enough for a flight from Halifax to Maui!

Other Card Perks

  • Extended grace period of 25 days for payments (compared to the standard 21 days)
  • Liability Waiver Program covers business owners in the event that employees misuse their cards
  • Travel insurance benefits include collision damage for rental cars, accidental death and dismemberment, baggage, trip cancellation and interruption, flight delay and common carrier insurance
  • Accepted at Costco
  • Extended warranty and purchase protection

Who’s the Card For?

The BMO Air Miles Business Mastercard is great for business owners that fit these profiles:

  1. They have employees that also need purchasing authority
  2. They are concerned about a comparable Amex business rewards card not being accepted by all vendors (including Costco).

With an array of protective clauses designed to limit liability and maximize earnings, the primary cardholder will enjoy travelling economically with value-added assurances.

 

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