What the Card Offers
BMO markets the CashBack Business Mastercard as cash back with no annual fee: 1.5% on gas, office supplies and cell phone and internet bills, 0.75% on everything else, cash back you can redeem any time, and purchase protection.
- $0
No annual fee1
No annual fee for the primary card.
- 1.5%
Gas, office supplies and phone bills2
1.5% cash back on gas, office supplies and cell phone and internet bills in Canada, on the first $1,000 in each per statement period.
- 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
- $150
Welcome cash back4
10% cash back on gas, office supplies and phone bills in your first 3 billing cycles, up to $150.
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-cashback-no-fee-business-mastercard/ (retrieved 2026-11-01)
- BMO business credit cards terms and conditions page, footnote 31 (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 CashBack World Elite Mastercard product page, footnote 51 (retrieved 2026-10-18); BMO CashBack Mastercard Terms and Conditions 50451403 (10/24), s. 6. Cash back is credited to your account balance at face value.
Where It Earns
Among the 55 stores and brands in CardTruth's merchant lookup:
- 1.5%1.5% back
- 1.5%1.5% back
- 1.5%1.5% back
- 1.5%1.5% back
- 1.5%1.5% back
Show all 12 storesShow fewer
- 1.5%1.5% back
- 1.5%1.5% back
- 1.5%1.5% back
- 1.5%1.5% back
- 1.5%1.5% back
- 1.5%1.5% back
- 1.5%1.5% back
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 with a low base rate.
0.75% on most spendingImpact level: Medium
Everything outside three categories earns only 0.75%
Purchases earn 0.75% except gas, office supplies and cell phone and internet bills, which earn 1.5% on the first $1,000 in each category per statement period, at merchants in Canada with the listed codes.
Why it matters: Software, advertising, travel and most business services earn 0.75%.
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. With 0.75% cash back on most purchases, foreign spending costs extra.
10% bonus: 3 categories, max $150Impact level: Low
The 10% welcome rate includes the regular 0.75% and applies only to three categories
The offer pays 10% in total on gas, office supplies and phone and internet bills in the first 3 billing cycles, up to $150 cash back, which takes $1,500 in those categories. Other purchases earn the regular rates.
Why it matters: The real extra is about $139 at most.
Cash back expires 90 days after closingImpact level: Low
Cash back expires 90 days after the account closes
CashBack rewards don't expire while the account is open. If it closes, you have 90 days to redeem through bmocashback.com, after which the balance expires. The account must be in good standing to redeem.
Why it matters: Redeem before closing the card.
Who This Card Is For
Great fit if you...
- Want a no-fee business cash back card
- Spend on gas, office supplies and phone bills
- Spend up to $1,000 a month in each
Consider alternatives if you...
- Spend mostly outside the three categories
- Need travel insurance
- Spend often in foreign currencies
Welcome Bonus History
BMO CashBack 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 CashBack Business Mastercard is a no-fee business card paying 1.5% on gas, office supplies and phone and internet bills, up to $1,000 each per statement, and 0.75% on everything else, with purchase protection.
The fine print limits it: most spending earns only 0.75%, the 10% welcome rate is capped at $150 in three categories, cash back expires 90 days after closing, and owners are personally liable.
The Recommendation: Best for small businesses whose card spending is mostly gas, office supplies and telecom. For broad spending, a no-fee card paying 1% on everything earns more.
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