Running a small business and have some credit card debt you want to eliminate?
A pair of BMO business credit cards have a balance transfer offer to consider. It’s incredibly rare to see a balance transfer offer on a business credit card, so buckle up for this.
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Get 0% for 9 months with select BMO business credit cards
There’s a pair of BMO credit cards with a terrific balance transfer offer. You’ll pay no interest on balances transferred to these 2 credit cards for the first 9 months:
There’s a fee to pay for the transfer – 3% of the amount transferred. But in exchange, you’re not paying any credit card interest for 9 months – that’s money you can use to pay your balance instead.
There is an end date attached to it – November 30, 2023. With that said, credit card details can change at any time. But if your business does have a pesky balance on it, having one of these cards could be your saving grace, especially considering you’ll get nicely rewarded after your balance is fully paid off.
2 key balance transfer rules
There are some rules when it comes to balance transfers, but here’s an overview of 2 of them.
First, you can’t transfer balance between credit cards from the same bank. So if your debt is on a BMO credit card, you can’t use this offer.
The second – once you make your balance transfer, don’t make any new purchases on it until it’s paid off. When you go to pay your credit card bill, any money you pay goes towards the balance that has the lowest interest rate.
Meaning any new purchases start racking up these card’s usual rate of 20.99%.
Details on the BMO CashBack Business Mastercard & the BMO Ascend World Elite Business Mastercard
Curious about these cards? Here’s the quick details on them.
First, the BMO CashBack Business Mastercard. It’s a basic no fee cash back credit card that earns the following on purchases:
- 1.75% cash back at Shell
- 1.5% cash back on gas, office supplies, and cellphone/internet bills
- 0.75% cash back on all other purchases
There’s also a welcome bonus on top of this – 10% cash back on gas, office supplies, and recurring cell phone/internet bills for the first 3 months.
The BMO Ascend World Elite Business Mastercard earns BMO Rewards on all purchases.
First, you’ll earn 70,000 100,000 bonus points after your first purchase and $3,000 per month on months 3 to 12.
On all your purchases you’ll receive:
- 4 points per $1 on gas, office supplies, and cell phone/internet bills
- 1.5 points per $1 spent on all other purchases
It also offers a few perks that include:
- 13 types of insurance,
- Mastercard Travel Pass membership and 2 free passes, and
- World Elite Mastercard benefits.
The annual fee for this card is $149, and it’s offering the first year free.
Are you interested in a new BMO business credit card?
If you have any credit card debt, BMO has an excellent offer for you to consider.
Are you considering getting a BMO business credit card?
Let us know in the comments below.
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