What the Card Offers
BMO markets the Ascend Business Mastercard as travel rewards with no annual fee: 2 points on gas, office supplies and phone and internet bills, 1 point on everything else, redeemable with Pay with Points, plus purchase protection and a liability waiver for employee cards.
- $0
No annual fee1
No annual fee for the primary card.
- 2x
Gas, office supplies and phone bills2
2 BMO Rewards points per $1 on gas, office supplies and cell phone and internet bills, on the first $50,000 a year combined.
- 90 days
Purchase protection3
90-day purchase protection and up to 1 extra year of warranty, to a $60,000 lifetime maximum.
Show 1 more benefitShow fewer
- 25,000
Welcome points4
25,000 BMO Rewards points after $3,000 in purchases within 110 days.
Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.
Welcome offers change often, and issuers sometimes run limited-time or targeted offers that differ from what's shown here. Confirm the current offer on the issuer's page before you apply.
Sources (4)
- https://www.bmo.com/en-ca/main/business/credit-cards/bmo-ascend-business-mastercard/ (retrieved 2026-11-01)
- BMO business credit cards terms and conditions page, footnote 24 (retrieved 2026-11-01)
- BMO Business Mastercard Extended Warranty and Purchase Protection Certificate
- BMO business credit cards terms and conditions page, footnote ‡ (retrieved 2026-11-01)
Points & Redemption
Rates: BMO eclipse Visa Infinite product page, footnotes 64 and 66 (retrieved 2026-10-18); BMO Rewards Terms and Conditions 50391497, ss. 10, 11 and 15. The CardTruth estimate is our own valuation, not a rate stated in the terms. It assumes the redemption described above; most other options return less.
Where It Earns
Among the 55 stores and brands in CardTruth's merchant lookup:
- ≈1.34%2x points
- ≈1.34%2x points
- ≈1.34%2x points
- ≈1.34%2x points
- ≈1.34%2x points
Show all 12 storesShow fewer
- ≈1.34%2x points
- ≈1.34%2x points
- ≈1.34%2x points
- ≈1.34%2x points
- ≈1.34%2x points
- ≈1.34%2x points
- ≈1.34%2x points
Where it doesn't earn more (8)Hide
Online only: Amazon.ca, Crave, Disney+, Netflix, SkipTheDishes, Spotify, Uber (rides), Uber Eats take Mastercard online but not in store.
The Fine Print Report
Low fine print. A simple no-fee card; the main limit is low point value.
Points worth 0.5–0.67¢; 2x ≈ 1.3%Impact level: Medium
BMO Rewards points are worth 0.67¢ on travel and 0.5¢ otherwise, so 2 is about 1.3% at best
With Pay with Points, travel purchases (airlines, hotels, car rentals, cruises, rail, travel agencies) redeem at 150 points per $1 and all other purchases at 200 points per $1, within 90 days of the purchase.
Why it matters: The headline multipliers convert to modest returns, and redeeming for non-travel purchases cuts the value by a quarter.
1x base worth about 0.5–0.67%Impact level: Medium
Most spending earns 1 point per $1, worth 0.5¢ to 0.67¢
Outside gas, office supplies and phone and internet bills, purchases earn 1 point per $1. Those three categories earn 2 points on the first $50,000 a year combined, at merchants with the listed category codes.
Why it matters: On general spending this is a 0.5% to 0.67% card.
Owners personally liable for the balanceImpact level: Medium
Each owner is personally liable, as primary obligor, for everything owed
Each owner of the business agrees to be liable as a primary obligor, individually and together with the business, for the total debt, so BMO can pursue the business or any owner, separately or together.
Why it matters: If the business can't pay, BMO can collect the full balance from you personally.
FX fee not published; refunds converted lowerImpact level: Medium
Foreign currency rate isn't published, and refunds come back at a lower rate
BMO converts foreign currency purchases at its Purchase Exchange Rate and refunds at a lower Refund Exchange Rate, so a refunded foreign purchase is credited back for less than it cost. Neither the agreement nor the product pages state the mark-up for business cards; BMO's personal cards charge 2.5%.
Why it matters: Ask BMO for the mark-up before spending in foreign currencies.
Bonus can be clawed back if closed in year 1Impact level: Low
The 25,000 welcome points can be cancelled if you close the card within a year
The welcome points need $3,000 in net purchases within 110 days of opening. Current and former holders of this card, and BMO cardholders switching into it, aren't eligible. If the card is cancelled within 365 days of opening, all bonus points earned in that period may be cancelled.
Why it matters: Keep the card open for at least a year.
Who This Card Is For
Great fit if you...
- Want a no-fee business rewards card
- Spend on gas, office supplies and phone bills
- Redeem points for travel
Consider alternatives if you...
- Want cash back
- Need travel insurance
- Spend often in foreign currencies
Welcome Bonus History
BMO Ascend Business Welcome Bonus History
Welcome offers change often, and issuers sometimes run limited-time or targeted offers that differ from what's shown here. Confirm the current offer on the issuer's page before you apply.
The Verdict
The BMO Ascend Business Mastercard is a no-fee business card earning 2 BMO Rewards points on gas, office supplies and phone bills and 1 on everything else, with purchase protection.
The fine print limits the value: points are worth 0.5¢ to 0.67¢, so the base rate is under 1%, the welcome points can be clawed back if you close the card in the first year, and owners are personally liable.
The Recommendation: Best for small businesses that want a no-fee card and will redeem points for travel. If you'd rather have simple cash, a no-fee cash back card returns more on general spending.
Before you apply: This teardown is general information, not financial, legal or insurance advice, and reflects the issuer's documents as of November 2026. Terms, rates, fees and offers change, and the issuer's own agreement, disclosure statement, insurance certificates and program terms are what govern your card. Read them in full and confirm details with the issuer before you apply. Full disclaimer