Why should I choose a cash back business credit card?

If you’re a business owner who wants to earn money back on your business purchases, a cash back business credit card can be a great option for you. The BMO CashBack World Elite Business Mastercard, which is the business credit card with the highest cash back earning power for business owners in Canada, is especially well suited to business owners who have high operating expenses and who also want additional perks.

How does a cash back business credit card work?

A cash back business credit card works by letting you earn a set percentage of money on your purchases. When you make a purchase with the card, you’ll earn a percentage of the amount you spent as “cash back”, which is real money that you’ll receive at the end of the statement period or calendar year, depending on your specific card’s terms. You can use your cash back by depositing it into a chequing account as cash or paying off your credit card balance.

Do I need a registered business to apply?

No, you don’t need a registered business to apply for the BMO Cashback World Elite Business Mastercard. You can apply with a sole proprietorship, a single-owner corporation, a multi-owner corporation, a partnership or an unincorporated association.

Can I set up a BMO PaySmart installment plan with this card?

Yes! Purchases made with this card can be broken up into smaller monthly payments through PaySmart.

Does my cash back balance expire?

No, your cash back balance doesn’t expire.

Are business credit card cash back rewards taxable?

No, business credit card cash back rewards are not taxable.

Is there a maximum on cash back earned?

No, there’s no maximum on the amount of cash back you can earn.

Is there a minimum income requirement?

Yes, there is a minimum income requirement to apply for the BMO Cashback World Elite Business Mastercard. The minimum income requirement is $80,000 (personal) or $150,000 (household) or $250,000 (business revenue) or $400,000 (Assets Under Management).

What are the benefits of the BMO Cashback World Elite Business Mastercard?

The benefits of the BMO Cashback World Elite Business Mastercard include our highest cash back rates for business owners and premium perks such as a DragonPass membership, zero liability security protection, travel insurance and free virtual healthcare visits. There are also a number of discounts available with this card, such as discounted Cirque du Soleil tickets, car rental fees and tax services at H&R Block. Go to the benefits section on this page to find out what else is included with this card.

Is there a fee for the BMO Cashback World Elite Business Mastercard?

Yes, there’s a fee for the BMO Cashback World Elite Business Mastercard. The fee is $175 per year, but you’ll get this fee waived in your first year with the card.

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BMO CashBack World Elite^®* Business Mastercard^®*

Make the most of your purchases with the highest cash back earning business credit card in Canada.⁴²

Welcome offer

Earn up to 15% cash back on all your business purchases for the first three months, plus get the annual fee waived in the first year.^∆∆∆

Apply now

Minimum of $80,000 (personal) or $150,000 (household) or $250,000 (business revenue) or $400,000 (Assets Under Management).

Your rates and fees at a glance

$175
Annual fee^1,∆∆∆(waived in the first year)
20.99%
Interest on purchases¹
23.99%
Interest on cash advances¹

Enjoy up to $1,760 in value in your first year^∆∆

Explore the bonuses, waivers and other benefits in your first 12 months with this card

Welcome offer
Earn up to 15% cash back in the first three billing cycles, up to a maximum of $900.^∆∆∆
Annual fee waiver
In your first year, we’ll waive the annual $175 fee for the primary cardholder.^{∆∆,∆∆∆}
Travel perks
Get a complimentary membership (valued at $93) with Mastercard Travel Pass (provided by DragonPass), plus get access to the BMO Roadside Assistance Program (valued at $75) from the Dominion Automobile Association (DAA).^38,17
Premium benefits
Get five virtual visits with a Canadian healthcare provider via Maple, for a total value of $520.^3,4

Get cash back on the business purchases you make every day

5% on gas and E V, electric vehicle charging
Earn when you fill up at the pump or charge your electric vehicle³⁴
4% on recurring expenses
Think of your regular bill payments and things like software subscriptions and monthly services.³⁵
3% on business expenses
These can be shipping costs, insurance, office supplies and telecommunications services like your business phone and internet.³⁶
1.25% on everything else
Every single business purchase counts!³⁷

Cash in on your cash back

No expiry
Enjoy your cash back rewards for as long as your account is open and in good standing – they’ll never expire.
No waiting
Redeem your cash back any time you want for as little as $1.
Flexibility
Use your cash back however you want – get a credit card statement credit, deposit it into a chequing or savings account, or invest it with BMO InvestorLine.
Automatic deposits
Set up recurring automatic deposits, starting at $25, to have your cash back sent straight to your chequing account.

Get premium perks on top of your cash back

Travel coverage
Enjoy travel medical insurance, collision/damage insurance for rental vehicles, and more.²²
Travel membership
Get a free membership for Mastercard Travel Pass provided by DragonPass.³⁸
5 free virtual care visits
Meet with a registered Canadian healthcare provider whenever you need to with Maple.^3,4
Security and protection
Feel secure with zero liability protection in cases of fraudulent card use.⁵

Explore the full suite of benefits and coverage you’ll get

Here’s everything else that comes with the BMO CashBack World Elite Business Mastercard

Identity theft protection: Protect your business from identify theft with proactive monitoring, alerts, and self-serve resolution support to help reduce the impact of identity-related fraud.⁴⁰
My Cyber Risk: Strengthen your business’s digital security with a cyber risk rating platform that helps identify cybersecurity vulnerabilities and provides recommendations to help mitigate online threats.⁴¹
Liability Waiver Program: Provides protection from employee card abuse.⁸
Zero liability: Feel secure with zero-liability protection in cases of fraudulent card use.⁵
Extended protection: We offer 90-day purchase protection plus extended warranty protection of up to an additional year on items you charge to your card.⁹
Mastercard Trust Centre: Get online access to trusted cybersecurity research and resources to help protect your business.
Mastercard Global Service^TM: Get support when you need it with twenty-four seven assistance for card-related concerns, available in all languages and anywhere in the world.
Toll-free customer service: Call 1-844-385-5055 toll free for customer service in English, French, Cantonese or Mandarin.

For more information on security at BMO, find out how we protect you.

Travel medical insurance: You’ll be covered for up to $5 million in eligible out-of-province or out-of-country emergency medical expenses for trips up to 8 days.²²
Flight delay insurance: If your flight is delayed for more than four hours, you’ll be reimbursed up to $500 per account for additional accommodation and travelling expenses.²²
Baggage insurance: You are eligible for up to $500 per insured person, to a maximum of $1,000 per trip if your baggage is lost, stolen or damaged. If your checked baggage is delayed by more than six hours, you’ll be reimbursed up to $500 for the purchase of essential items.²²
Car rental collision/damage waiver insurance: You’ll be reimbursed for damage or theft of your rental car for a total rental period of up to 48 consecutive days.²²

Download our travel protection certificate of insurance for more information.

Get up to 22 additional cards so employees can easily make purchases on behalf of your business and help you earn cash back faster.^39,∆∆∆
Get automatic rebates of 1%-25% when you shop at qualifying merchants with  Mastercard Easy Savings.^TM^,¹¹
Enjoy 30% off H&R Block’s DIY and Assisted Channels Tax Offerings.¹²
Get 20% off admission to Cirque du Soleil shows touring Canada,¹³ plus 15% off resident shows in Las Vegas.¹⁴
Enjoy six months of Instacart+  and a $10 monthly Instacart credit  when you enroll your eligible BMO business credit card.¹⁵
Get 24/7 access to roadside assistance, including battery boosts, flat-tire changes, lockout  service  and towing – a $75-per-year market value.¹⁷
Unlock up to 35% off base rates on your next car rental with Avis and Budget when you prepay at booking.¹⁸

BMO PaySmart Installment Plans

Live now, pay smarter with a BMO PaySmart plan by turning your credit card purchases into smaller, monthly payments at a low cost.

Learn more

What you’ll need to apply for a business credit card with us

Select your type of business for a list of information you’ll need to provide.

Here’s what you’ll need:

Name, address and date of birth, along with personal identification
Trade Name Registration (if applicable)
Master Business Licence (if you’re using a registered trade name)

Here's what you'll need:

Please consult the following list to figure out what information you may need to provide.

If your business has been in existence less than 18 months, please provide one of the following:

Complete articles of incorporation
Letters patent/company charter
Articles of amendment
Articles of amalgamation
Corporate Profile Report

If your business has been in existence more than 18 months, please provide one item from the previous list as well as one of the following:

Annual/statutory return
Certificate of status
Certificate of compliance/existence and any filings under the applicable provincial securities legislation, such as financial statements
Financial statement or annual report signed by an independent accounting firm
Government assessment
Corporate search

If your business operates under a registered trade name, please provide one of the following:

Trade Name Registration
Master Business License

In all cases, please provide the following identification:

Name, address, and occupation or nature of primary business
Percentage ownership and type of ownership (direct or indirect) for any person (including yourself) or company with an interest of 25 per cent or more of your business
Name, occupation and date of birth, along with personal identification

Here's what you'll need:

Please consult the following list to figure out what information you may need to provide.

If your business has been in existence less than 18 months, please provide one of the following:

Complete articles of incorporation
Letters patent/company charter
Articles of amendment
Articles of amalgamation
Corporate Profile Report

If your business has been in existence more than 18 months, please provide one item from the previous list as well as one of the following:

Annual/statutory return
Certificate of status
Certificate of compliance/existence and any filings under the applicable provincial securities legislation, such as financial statements
Financial statement or annual report signed by an independent accounting firm
Government assessment
Corporate search

If your business operates under a registered trade name, please provide one of the following:

Trade Name Registration
Master Business License

In all cases, please provide the following identification:

Name, address, and occupation or nature of primary business
Percentage ownership and type of ownership (direct or indirect) for any person (including yourself) or company with an interest of 25 per cent or more of your business
Name, occupation and date of birth, along with personal identification, for yourself and up to three authorized signatories

Here's what you'll need:

Please consult the following list to figure out what information you may need to provide.

If your business is a general partnership, please bring the following:

Partnership registration (if applicable)
Partnership agreement

If your business is operating under a registered trade name, please bring one of the following:

Trade Name Registration
Master Business License

If your business is a limited partnership, please bring the following:

Limited partnership agreement
Certificate of limited partnership/declaration of limited partnership/application for registration of a limited partnership

In all cases, please bring the following identification:

Name, address, and occupation or nature of primary business
Percentage ownership and type of ownership (direct or indirect) for any person (including yourself) or company with an interest of 25 per cent or more of your business
Name, occupation and date of birth, along with personal identification, for yourself and up to three authorized signatories

Here's what you'll need:

Please consult the following list to figure out what information you may need to provide.

If your business has been formally established, please bring one of the following:

Articles of association
Copy of by-laws or constitution disclosing names and titles of directors and/or officers

If your association isn’t formally established, please bring:

Letter from the organization disclosing who has the authority to open and operate the account

In all cases, please bring the following identification:

Name, address, and occupation or nature of primary business
Percentage ownership and type of ownership (direct or indirect) for any person (including yourself) or company with an interest of 25 per cent or more of your business
Name, occupation and date of birth, along with personal identification, for yourself and up to three authorized signatories
Name and occupation of any directors or officers