BMO’s New Cash Back Mastercard for Small Business

There's a new small business credit card in Canada – the BMO CashBack World Elite Business Mastercard. And BMO has targeted a gap in the business credit card world: a premium cash back card.

This card will pile up cash back with high rewards, and it has plenty of features.

Summary of the new BMO CashBack World Elite Business Mastercard

Here's the summary of what the new BMO CashBack World Elite Business Mastercard offers.

	BMO CashBack World Elite Business Mastercard
Welcome Bonus	$125 GeniusCash + 15% cash back for the first 3 months (terms)
Earn Rates	* 5% cash back on gas and EV charging * 4% cash back on recurring bill payments. * 3% cash back on shipping, insurance, office supplies, and telecommunications. * 1.25% cash back on all other purchases.
Special Features	* World Elite Mastercard benefits * 5 free Maple health visits per year * H&R Block discounts * Roadside assistance
Insurance	11 types included
Annual Fee	$175
Eligibility Requirements	One of the following: * $80,000 personal income * $150,000 household income * $250,000 in business revenue * $400,000 in assets under management

BMO CashBack World Elite Business Mastercard rewards, perks, and more

Now, let's get into the details of what this card offers.

Rewards

Every purchase you make with this card earns you cash back:

• 5% cash back on gas and EV charging
• 4% cash back on recurring bill payments.
• 3% cash back on shipping, insurance, office supplies, and telecommunications.
• 1.25% cash back on all other purchases.

These are some impressive rewards. A few bonus categories cover some business basics, all while earning more than 1% on everything.

You can get your cash back paid out once you have as little as $1 accumulated.

Perks

There are plenty of perks that are included with this card, including some rare benefits.

There are the usual World Elite Mastercard benefits. Typical perks like a Mastercard Travel Pass membership and Cirque Du Soleil savings are all here.

The BMO CashBack World Elite Business Mastercard also includes 5 free visits per year with Maple, where you can virtually meet with a licensed Canadian doctor.

Want to save on tax returns? Enjoy 30% off H&R Block's DIY and Assisted Channels Tax Offerings.

This credit card also offers complimentary roadside assistance.

Insurance

Like all BMO World Elite Mastercards, this credit card doesn't skimp on the insurance, with 11 types included.

Here are the full details.

Annual fee and eligibility

What does it cost? You'll have to pay an annual fee of $175.

As for eligibility requirements, there are a few ways to qualify. You'll need to meet one of these.

• $80,000 personal income
• $150,000 household income
• $250,000 in business revenue
• $400,000 in assets under management

Our GeniusCash offer

To celebrate, we have a GeniusCash offer on this card. You'll earn $125 in GeniusCash when you apply through our offers page.

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FAQ

What is the BMO CashBack World Elite Business Mastercard?

The BMO CashBack World Elite Business Mastercard is a small business credit card. This is a premium cash back business credit card, offering high rewards, plenty of perks, and includes purchase and travel insurance coverage.

What does the BMO CashBack World Elite Business Mastercard offer for rewards?

The BMO CashBack World Elite Business Mastercard is a cash back credit card. It offers the following on all purchases:

• 5% cash back on gas and EV charging
• 4% cash back on recurring bill payments.
• 3% cash back on shipping, insurance, office supplies, and telecommunications.
• 1.25% cash back on all other purchases.

What is the annual fee and eligibility requirements of the BMO CashBack World Elite Business Mastercard?

The BMO CashBack World Elite Business Mastercard has an annual fee of $175. To be eligible, you need to meet one of these requirements:

• $80,000 personal income
• $150,000 household income
• $250,000 in business revenue
• $400,000 in assets under management