This post is sponsored by BMO. The views and opinions expressed in this blog, however, are purely our own.
We know how hard it was to weather the storm that is the pandemic: 2 years of constant shutdowns, shuttered businesses, and…stuff hitting the fan was more than enough to wreak havoc on small businesses across the country.
To help you get the break you deserve, let’s take an in-depth look at the BMO World Elite Business Mastercard. It checks all the boxes you love and rewards you fast on your major business spending categories, even if you’re a first-time business owner.
Whether you’re trying to earn reward points to go towards your business expenses or cover that vacation you so sorely need, this is unequivocally the card for you.
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BMO World Elite Business Mastercard – a godsend for office expenses
If you’re a small business owner, we know how hard you work. How many hours you pour into your business. How you work to keep your team employed and your customers satisfied.
Many of your expenses were probably (and will continue to be) office expenses.
A stream of new hires, international phone calls, or that annoying guy Tim in the ops department who flatly denies stealing all the post-it notes – your business expenses seem to pile up, one after another.
You know you’re going to have to deal with these, so why not get one of the best credit cards for the most common business expenses?
The
You’ll earn:
- 4 points per $1 on gas, office supplies, and cell phone/internet bills
- 1.5 points per $1 spent on all other purchases
These rewards are especially useful if your business is growing fast and you need to spend more to really scale it. Compared to other cards, the earn rate is quite high for both business categories (4 points) and everything else (1.5 points), meaning you can get rewarded a lot sooner than if you had some low-end card giving 1 or 2 points here or there
Seeing as these are some of the most common business expenses, it makes sense why this card’s rewards structure is designed specifically to reward those purchases.
We know you’re getting excited about redeeming all those points, but in classic Billy Mays fashion, we’re going to hit you with, “But wait, there’s more!”
The BMO World Elite Business Mastercard welcome bonus
4 points per dollar for things like office supplies, company car gas top-ups, and internet bills sounds good, but what if we were to tell you that you wouldn’t have to start from scratch?
With a limited-time welcome bonus, you’ll start with up to a staggering 70,000 100,000 BMO rewards points in the first year.
The only caveat is that you need to spend $5,000 in the first 3 months to get the first 50,000 points. To get the rest, you’ll need to spend $35,000 within the first 12 months.
I mean, there is a good chance you need to spend that kind of money anyways and even if you don’t figure you could get to the second goal, the first 50,000 points would come relatively easily.
In addition to this, we should mention that the annual fee of $149 is waived for the first year, which is a nice add-on as well.
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What can you redeem BMO Rewards for?
BMO Rewards are an excellent flexible way to redeem the fruits of your hard-earned labour. Here’s a quick peek at what you can get from using the BMO World Elite Business Mastercard.
Take a break with BMO Rewards travel perks
If you’re like us, nothing beats a long vacation. That’s why we saved the best for last. You can use your BMO World Elite Business Mastercard as a tool to bring you closer to your dream vacation.
One thing that makes BMO stand out is that there are no blackout dates and no restrictions.
Any part of the vacation process can be paid for using BMO Rewards. This includes:
- flights,
- hotels,
- car rentals,
- cruises,
- special vacation experiences, and
- you can even use them to pay taxes and fees that are related to your trip.
Best of all, our comparison of BMO Rewards found that travel redemptions were tied for the best return out of all the categories.
We know you’re tired of hearing this, but here’s the master pitchman’s catchphrase one more time:
But wait, there’s more!
As part of the perks, you’ll also enjoy VIP airport lounge access. You’ll have access to over 400 airports around the globe and receive 2 complimentary lounge visits per year.
If there was any way to celebrate your business’s recovery from the pandemic, it would be relaxing in a lounge, drink in hand, all expenses paid.
Not bad for one credit card, eh?
Redeem BMO rewards for merchandise
On top of taking you around the world, your BMO Rewards points can also be redeemed for designer fashion items, the hottest tech (like wireless headphones and DSLRs), and tablets. You can even get high-end office equipment like the CEO-quality office chairs and the latest in standing desks.
You can browse the BMO Rewards website to find your favourite or even redeem your points for gift cards if you’re feeling a little uncreative for your Christmas party giveaway.
Redeem BMO rewards for investments, donations, and statement credits
If you have a BMO investment account, you can use your points to contribute directly to your investments. This is one of the better redemption options available in terms of return.
You can also apply your rewards as a statement credit or donate them to a registered charity that your company supports.
Pay with Points
One thing you may not have known about is that with your BMO World Elite Business Mastercard, you can pay with points for your little expenses here and there. All you have to do is sign into BMO rewards, go to the Pay with Points tab, and select the transaction you want to pay for with your points.
The best part is how flexible it is. It can be anything from a fancy dinner for you and that top client of yours, to just a coffee with a newer client.
Is the BMO World Elite Business Mastercard right for you?
Liking the sound of this amazing business credit card? Thinking of how many points you could earn so easily? Already picturing yourself on a beach in the Bahamas?
Let us know what you look forward to in getting this card in the comments below.
FAQ
Are there other BMO credit cards with strong rewards I can take advantage of?
BMO offers a wide variety of cards to suit many different spending habits. If you know someone who may not be needing a business credit card like this BMO World Elite Business Mastercard, they can peruse some of BMO’s best credit cards here.
What are the best rewards I can get with the BMO World Elite Business Mastercard?
The BMO World Elite Business Mastercard is part of the BMO Rewards program. With this, you can redeem your points for anything from merchandise on their rewards store, statement credits, investments, and travel.
What does the BMO World Elite Business Mastercard welcome bonus look like?
The BMO World Elite Business Mastercard has a welcome bonus of up to 70,000 100,000 BMO Rewards points in the first year. In addition to this, the annual fee is waived in the first year.
What makes the BMO World Elite Business Mastercard such a good card for small business office expenses?
The earn rate for office supplies, as well as gas, cell phone bills, internet bills, gives a return of 4 points per dollar instead of the usual 1.5 points. Especially for a business starting out, this is a great way to accumulate points fast and get rewarded sooner.
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