BMO Business Platinum Rewards Credit Card
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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.
Our Rating
4.0/5.0
Welcome Offer
Up to 100,000 rewards points
Annual Fee
$0
0% Intro on Purchases
9 months
Reward Rate
1x – 5x points
0% Intro 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.
Editorial Review
Features & Benefits
| Security | EMV Chip Enabled, Zero Liability, Alerts, Identity theft protection |
| Contactless Payments | Tap to Pay, Apple Pay, Google Pay, Samsung Pay |
| Benefits | Cell Phone Protection, Extended Warranty Coverage, Purchase Protection, 24/7 customer service |
| Travel Perks | Access to Special Events and Concerts, Auto Rental Collision Damage Waiver, Roadside Assistance |
Rewards
Interest Rates & Fees
| Annual Fee | $0 |
| Foreign Transaction Fee | 2% of the transaction amount in U.S. dollars. |
| Regular APR | 20.49% - 29.49% (V) APR |
| Balance Transfers | 0% Intro APR for 9 months on balance transfers, then 20.49% - 29.49%(V) APR after that. |
| Balance Transfer Fee | Either $10 or 4% of the amount of each balance transfer, whichever is greater. |
| Purchases | 0% 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.
Car Rental Loss and Damage Insurance
Pays for covered damages (physical damage and theft) to a rental vehicle when you pay for the rental with your Mastercard and you decline the optional collision/damage coverage offered by the rental company.
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.
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 numerous factors in their underwriting process, and these factors can change at any time.
Lowest Approved Credit Score: 778
Average Approved Credit Score: 778
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 03/28/2023 | TransUnion |
Pros & Cons
- Welcome offer
- No annual fee
- Up to 5x points
- High APR
- Foreign transaction fee
- Requires good credit
What Are the Best Alternatives?
Ink Business Unlimited® Credit Card
Rating
4.6
Rewards Range
1.5%
Annual Fee
$0
The American Express Blue Business Cash™ Card
Rating
4.6
Rewards Range
1% - 2%
Annual Fee
No annual fee
Ink Business Cash® Credit Card
Rating
4.8
Rewards Range
1%-5%
Annual Fee
$0