Bank of Montreal (BMO) has launched four new small business credit cards.
The cards are designed to meet the needs of an evolving customer base in Canada and will offer better rewards and options to small business owners across the country.
The four cards are:
- The BMO Rewards Business Mastercard – this card includes three BMO Rewards points for every $1 spent on eligible gas, office supplies and internet billings.
- BMO CashBack Business Mastercard– a no-annual fee option with 1.75% earn rate on all purchases at Shell, 1.5% on eligible gas, office supplies and cell phone and internet billings and 0.75% on all other purchases.
- BMO AIR MILES Business Mastercard– BMO’s premium air miles credit card with an earn rate of one air miles Reward Mile for every $10 spent and 1.25 miles for every $10 spent at Shell.
- BMO AIR MILES No-Fee Business Mastercard – a no-annual fee option with an earn rate of one air miles Reward Mile for every $20 spent, and 1.25 Miles for every $20 spent at Shell.
Small business owners will now be able to access a wider range of benefits, including:
- Better earn rates on categories that are preferred by small business owners, including gas purchases, office supplies, and phone and internet bills;
- Industry-leading customer value, combining strong rewards options, low-interest rate and competitive annual fees;
- Expedited application process;
- Premium insurance packages;
- The ability to pool earned points under both the BMO Rewards programme and AIR MILES Rewards Miles programme, with personal rewards from the same programme;
- Higher available limits; and
- No minimum income requirements.
Adrian Lang, head of small business solutions and governance, North American retail payments and Canadian personal and business banking at BMO Financial Group, stated: “Customer experience is the driving factor for all the products and services that BMO looks to introduce, and this new line-up of small business credit cards truly raises the bar with industry leading options.
“Our goal is to help small businesses reach their potential and scale more efficiently, so that they can bring new offerings of their own to market. We want to support small business every step of the way as they grow and evolve.”