"What is the BMO Business Mastercard best for?"

"The BMO Business Mastercard is best for small business owners and sole proprietors who want a simple, no-annual-fee business credit card to separate business expenses from personal finances. It provides a business-branded Mastercard accepted virtually everywhere (Costco, most retailers), basic expense tracking through BMO's business banking portal, and the ability to add employee cards. For businesses that carry a monthly balance, verify if BMO offers a low-rate business card variant at bmo.com. For higher-spending businesses that want premium rewards, the BMO CashBack Business Mastercard ($79/year) offers higher earn rates."

"Can I add employee cards to the BMO Business Mastercard?"

"Yes — the BMO Business Mastercard supports additional employee cards (sometimes called supplementary cards) at an additional annual fee or as part of the account, depending on the current fee structure. Employee cards allow your team to make business purchases on the business account, consolidating expenses for GST/HST reporting, expense reconciliation, and accounting. The business owner (primary cardholder) is responsible for all charges. Set spending limits where possible and implement an expense policy. Verify employee card fees and functionality at bmo.com or at a BMO Business Banking branch."

"Does the BMO Business Mastercard work at Costco Canada?"

"Yes — Costco Canada accepts Mastercard, Visa, and debit. The BMO Business Mastercard is a Mastercard and is accepted at all Costco Canada locations. This is a meaningful advantage for businesses that purchase supplies at Costco. Note that Costco Canada does NOT accept American Express, so if your primary business card is Amex (e.g., BMO Business Gold Rewards Amex or Amex Business Platinum), you'll want a Mastercard backup for Costco runs."

"How does the BMO Business Mastercard compare to the BMO CashBack Business Mastercard?"

"The BMO Business Mastercard is the no-annual-fee entry card — suitable for businesses that make modest monthly charges or want the simplest business credit card. The BMO CashBack Business Mastercard ($79/year) earns higher cash back rates on eligible business categories (verify current rates at bmo.com), making it worthwhile for businesses that charge $10,000–$15,000+ annually. The breakeven point is approximately: $79 ÷ incremental earn rate differential = monthly spend where the paid card wins. Verify current rates at bmo.com to calculate which card delivers more value for your monthly business spend."

"Do I need a BMO business bank account to apply for the BMO Business Mastercard?"

"Typically yes — BMO Business credit cards are designed for customers with BMO business banking relationships. You will generally need (or be asked to open) a BMO business chequing account to access the BMO Business Mastercard. BMO Business banking offers chequing accounts, business savings, business loans, and merchant services alongside the credit card portfolio. Visit a BMO Business Banking centre or check bmo.com/business for the current requirements and to open a BMO business account."

BMO Business Mastercard Review 2026: Is It Worth It in Canada?

The BMO Business Mastercard is BMO’s entry-level business credit card — a no-annual-fee Mastercard designed for small business owners and sole proprietors who want to separate personal and business expenses, track charges for GST/HST reporting, and earn rewards on everyday business spending. It’s the starting point in BMO’s business credit card portfolio, with an upgrade path to the BMO CashBack Business Mastercard ($79/year) and BMO Business Gold Rewards Amex.

Quick Verdict

Best for: Small business owners who bank with BMO and want a no-fee business Mastercard for expense separation, employee cards, and basic business rewards — without an annual fee.
Not ideal for: High-spending businesses that would benefit more from the BMO CashBack Business Mastercard ($79/year) or BMO Business Gold Rewards Amex; businesses that need premium travel insurance and perks.

Key Card Details

Feature	Detail
Annual fee	$0 (verify at bmo.com)
Network	Mastercard
Rewards	Cash back or BMO Rewards — verify at bmo.com
Employee cards	Yes — verify fee at bmo.com
Expense tracking	Via BMO business banking portal
Costco accepted	Yes (Mastercard accepted at Costco Canada)
Amex accepted	N/A (Mastercard)

Card terms, earn rates, and fees are subject to change. Verify all current details at bmo.com/business before applying.

BMO Business Credit Card Lineup

Card	Annual Fee	Best For
BMO Business Mastercard	$0	Entry-level, no-fee
BMO CashBack Business Mastercard	$79	Higher cash back on business spend
BMO Business Gold Rewards Amex	Verify	BMO Rewards points on business
BMO Air Miles Business Mastercard	Verify	Air Miles collectors

Business Expense Separation: Why It Matters

Benefit	How It Helps
GST/HST reporting	Single monthly statement for input tax credits
Income tax deductions	Clear business/personal expense separation
Accounting integration	Upload statements to QuickBooks, Wave, Xero
CRA audit preparedness	Clean records reduce audit risk
Employee oversight	Employee cards on one account

The CRA (Canada Revenue Agency) treats business credit cards as primary documentation for expense deductions — a dedicated business credit card with monthly statements is essential for legitimate business deductions.

Fees and Rates

Fee	Amount
Annual fee	$0
Purchase interest	Verify at bmo.com
Cash advance	Verify at bmo.com
Foreign transaction fee	Typically 2.5% of transaction (verify)
Employee card fee	Verify at bmo.com

BMO Business Mastercard vs. Competition

Card	Annual Fee	Network	Cash Back / Rewards
BMO Business Mastercard	$0	Mastercard	Verify
Scotiabank Business Visa	$0	Visa	Verify
TD Business Cash Back Visa Infinite	$149	Visa	Higher earn rates
CIBC BizLine Visa	$0	Visa	Verify
Amex Business Edge	$99	Amex	3x categories

Who Is the BMO Business Mastercard Best For?

Ideal cardholders:

Sole proprietors and small business owners who bank with BMO and want a no-fee business credit card
Businesses that shop at Costco Canada (Mastercard accepted; Amex not accepted)
Those who want the simplest business card with no annual fee commitment — and can upgrade later if monthly spend justifies it

Less suitable if:

Your business charges $30,000+/year — the BMO CashBack Business Mastercard ($79/year) delivers better value at that volume
You want Aeroplan or travel rewards — TD or Scotiabank business cards offer better travel earn rates
Your vendor base requires Visa — the BMO Business Visa products may be more appropriate

Bottom Line

The BMO Business Mastercard is a practical no-fee entry point for small business owners who want a dedicated business credit card within the BMO banking ecosystem. The primary value is in expense separation, GST/HST documentation, and the ability to add employee cards — not in premium rewards. As monthly business spend grows above $5,000–$8,000/month, the BMO CashBack Business Mastercard’s higher earn rates typically justify its $79/year fee.

Card terms, earn rates, and features are subject to change. Verify all current details at bmo.com/business before applying.