BMO Business Platinum Rewards Credit Card

The BMO Business Platinum Rewards Credit Card is for business owners who want rewards on common business purchases. It has a nice welcome offer, which can be doubled if you spend $50,000 in the first year. It also offers 0% introductory APR on purchases and balance transfers for 9 months. It’s a decent card with handy ongoing rewards for business owners. We dive into the details and your approval odds in this BMO Business review.

credit card

Our Rating

4.0/5.0

Welcome Offer

Up to 100,000 rewards points

Annual Fee

$0

0% on Purchases

9 months

Reward Rate

1x – 5x points

0% on Balance Transfers

9 months

Welcome Offer

Earn a welcome bonus of up to 100,000 rewards points in your first year. Earn 50,000 bonus rewards points when you spend $5,000 within 3 months of account opening, plus an additional 50,000 bonus rewards points when you spend at least $50,000 within 12 months of account opening.

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

1x points
On all other eligible purchases
Earn an unlimited 1x point per dollar spent on all other purchases
2x points
Dining
Earn 2 points for every $1 you spend on eligible dining purchases
3x points
Gas
Earn 3 points for every dollar you spend on gas
4x points
Office Supplies
Earn 4 points for every dollar you spend on office supplies and printing
5x points
Select Categories
Earn 5 points for every dollar you spend on internet and phone services

Interest Rates & Fees

Annual Fee$0
Foreign Transaction Fee2% of the transaction amount in U.S. dollars.
Regular APR20.49% - 29.49% (V) APR
Balance Transfers0% Intro APR for 9 months on balance transfers, then 20.49% - 29.49%(V) APR after that.
Balance Transfer FeeEither $10 or 4% of the amount of each balance transfer, whichever is greater.
Purchases0% Intro APR for 9 months on purchases, then 20.49% - 29.49% (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 Rewards 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
Approved03/28/2023
778
TransUnion
$16,800

Pros & Cons

Pros
  • Welcome offer
  • No annual fee
  • Up to 5x points
Cons
  • High APR
  • 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

The American Express Blue Business Cash™ Card
The American Express Blue Business Cash™ Card

Rating

4.6

Rewards Range

1% - 2%

Annual Fee

No annual fee

Ink Business Cash® Credit Card
Ink Business Cash® Credit Card

Rating

4.8

Rewards Range

1%-5%

Annual Fee

$0

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