BMO Business Platinum Credit Card

The BMO Business Platinum Credit Card is a business credit card designed for business owners who want to make a large purchase or pay off existing high-interest debt. The 0% introductory APR on purchases and balance transfers for 18 months will allow you to do that. Other than that, this is a bare-bones card. There are no rewards, and you won’t get a welcome bonus. On the plus side, there is no annual fee. We dive into the details and your approval odds in this BMO Business Platinum review.

credit card

Our Rating

4.0/5.0

Welcome Offer

None

Annual Fee

$0

0% on Purchases

18 months

Reward Rate

No rewards

0% on Balance Transfers

18 months

Welcome Offer

None

Features & Benefits

SecurityEMV Chip Enabled, Zero Liability, Alerts, Identity theft protection
Contactless PaymentsTap to Pay, Apple Pay, Google Pay, Samsung Pay
BenefitsCell Phone Protection, Extended Warranty Coverage, Purchase Protection, 24/7 customer service
Travel PerksAccess to Special Events and Concerts, Auto Rental Collision Damage Waiver, Roadside Assistance

Rewards

Interest Rates & Fees

Annual Fee$0
Foreign Transaction Fee2% of the transaction amount in U.S. dollars.
Regular APR16.49% - 25.49% (V) APR
Balance Transfers0% Intro APR for 18 months on balance transfers, then 16.49% - 25.49%(V) APR after that.
Balance Transfer FeeEither $10 or 4% of the amount of each balance transfer, whichever is greater
Purchases0% Intro APR for 18 months on purchases, then 16.49% - 25.49% (V) APR after that.

Insurance

Cell Phone Insurance

Get $600 cell phone protection when you charge your monthly wireless telephone bill to your card.

Coverage provided under a group insurance policy issued by New Hampshire Insurance Company, an AIG company. Policy provides secondary coverage only. The $600 benefit amount applies to each claim, and is subject to a $50 co-pay per claim. $1,000 maximum claim benefit per 12 months. Refer to the Mastercard Guide to Benefits for more information.

Extended Warranty

You’ll get double the original manufacturer’s (or U.S. store brand) warranty for up to one year on most new items you buy with your eligible Mastercard that have an original manufacturer’s warranty of one year or less.

Certain terms, conditions and exclusions apply. For complete coverage terms and conditions call 1-800-MASTERCARD (1-800-627-83721-800-627-8372) for assistance. Refer to the Mastercard Guide to Benefits for more information.

Doubles the original manufacturer’s (or U.S. store brand) warranty for up to one year on most new items purchased with your eligible Mastercard card that have an original manufacturer’s warranty of one year or less. Refer to the Mastercard Guide to Benefits for more information.

Purchase Protection

You’ll get coverage for most items you buy with your eligible Mastercard if the item is damaged or stolen within 90 days of the purchase date.

Certain terms, conditions and exclusions apply. For complete coverage terms and conditions call 1-800-MASTERCARD (1-800-627-83721-800-627-8372) for assistance. Refer to the Mastercard Guide to Benefits for more information.

Provides coverage for most items you purchase with your eligible Mastercard if the item is damaged or stolen within 90 days of the date of purchase. Refer to the Mastercard Guide to Benefits for more information.

What Credit Score Is Required to Get the BMO Business Platinum Credit Card

The following credit score data are based on publicly available information we have collected from various forums. We have no way to confirm the accuracy of this data. In addition, keep in mind that credit card issuers use a number of factors in their underwriting process, and these factors can change at any time.

App StatusDateCredit ScoreBureauCredit Limit
Approved09/16/2021
756
TransUnion
$1,300

Pros & Cons

Pros
  • No annual fee
  • 0% introductory APR on purchases and balance transfers
Cons
  • No welcome bonus
  • No rewards
  • Foreign transaction fee
  • Requires good credit

What Are the Best Alternatives?

Ink Business Unlimited® Credit Card
Ink Business Unlimited® Credit Card

Rating

4.6

Rewards Range

1.5%

Annual Fee

$0

Capital One Spark Cash Select for Good Credit
Capital One Spark Cash Select for Good Credit

Rating

4.5

Rewards Range

1.5% to 5%

Annual Fee

$0

U.S. Bank Triple Cash Rewards Visa® Business Card
U.S. Bank Triple Cash Rewards Visa® Business Card

Rating

4.5

Rewards Range

1% - 5% Cash Back

Annual Fee

$0

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