Reviewed by Jen, founder of MoneyMint · Updated September 25, 2026

BMO (Bank of Montreal)No Annual Fee / Cash Back

BMO CashBack Business Mastercard

Our take: strongest for gas — about 1.5% back in value (est.) with no annual fee, plus a welcome bonus we value at roughly $150.

Welcome bonusGet 10% cash back on gas, office supplies, and phone/internet bills for your first 3 billing cycles, up to $150.

Apply on BMO’s site →

Goes straight to BMO
Our review

The BMO CashBack Business Mastercard is a no-annual-fee cash-back card for small businesses, with no minimum income requirement to apply. It offers a modest bonus rate on common business expenses and an uncapped base rate on everything else, plus a 0% introductory balance transfer offer — a solid, low-cost option for businesses that don’t need premium travel perks.

2.6out of 5

MoneyMint rating

#15 of 15 business cards · How we rate

Rewards value

1/10

Insurance

4/10

Flexibility

10/10

Welcome bonus

2/10

Fee value

10/10

Perks

0/10

≈ $272

estimated first-year value after the annual fee, on a typical $2,050/month budget. Compare all 15 business cards →

At a Glance

Annual Fee

$0 (primary); $50 per additional employee card

Welcome Bonus

10% cash back on select categories, up to $150first 3 billing cycles

Rewards

~1.5%on gas (est. value)

Rewards Rate

1.5% on gas/office supplies/telecom, 0.75% base

Foreign Transaction Fee

2.5%

Credit Score Needed

Good (est.)

Purchase APR 20.99%

Pros & Cons

Pros

No annual fee on the primary card, with no minimum business revenue or personal income requirement to apply
1.5% cash back on gas, office supplies, and cellphone/internet bills (first $1,000/category/statement cycle)
0.75% uncapped cash back on all other purchases
Welcome offer of 10% cash back on bonus categories for the first 3 billing cycles, up to $150
0% introductory balance transfer rate for 9 months (3% transfer fee applies)
Cash back never expires while the account stays open and in good standing

Cons

$50/year fee per additional employee card is not prominently disclosed on BMO’s own marketing page — easy for readers to miss
1.5% bonus categories cap at $1,000 spend per category, per statement cycle, before dropping to 0.75%
0.75% uncapped base rate is modest next to some competing business cash-back cards
Exact current welcome-offer expiry date is unclear — BMO’s own terms page lists an application window that appears to have already passed, though the offer is still marketing live
2.5% foreign transaction fee applies with no waiver
A Shell-specific 1.75% rate reported by some sources was not confirmed on BMO’s own official pages

Rewards & Earn Rates

Gas1.5% cash backfirst $1,000/statement cycle, then 0.75%

Office supplies1.5% cash backfirst $1,000/statement cycle, then 0.75%

Cellphone & internet bills1.5% cash backfirst $1,000/statement cycle, then 0.75%

All other purchases0.75% cash backuncapped

The employee-card fee ($50/card/year) doesn’t appear on BMO’s main consumer-facing marketing page — it’s confirmed only in BMO’s official Terms & Conditions index. Businesses planning to issue several employee cards should factor this in, since a “no fee” card can still carry real costs at scale.

Who It’s For

Best for

Small businesses that want a genuinely no-fee card with no income or revenue minimum to qualify
Businesses with moderate, spread-out spend on gas, office supplies, and telecom bills
Owners who want a simple cash-back structure without a premium annual fee

Not ideal for

Businesses with heavy spend concentrated in one category that would exceed the $1,000/cycle bonus cap regularly
Businesses issuing many employee cards, where the $50/card fee adds up quickly
Anyone wanting travel perks like lounge access or trip insurance — this is a cash-back card, not a travel card

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Frequently Asked Questions

What is the annual fee for the BMO CashBack Business Mastercard?

The BMO CashBack Business Mastercard has an annual fee of $0 (primary card); $50/year per additional employee card, up to 22 cards.

What is the rewards rate on the BMO CashBack Business Mastercard?

The BMO CashBack Business Mastercard offers: 1.5% cash back on gas, office supplies, and cellphone/internet bill payments (first $1,000 spent per category, per statement cycle, then 0.75%); 0.75% cash back on all other purchases, uncapped.

Does the BMO CashBack Business Mastercard have a welcome bonus?

10% cash back on gas, office supplies, and cellphone/internet bill payments for the first 3 billing cycles, up to $150 total (based on $1,500 in eligible spend), plus a 0% introductory balance transfer rate for 9 months (3% transfer fee applies). The $150 cap (10% on up to $1,500 in eligible spend) is corroborated by BMO’s own Terms & Conditions sub-page plus independent secondary sources (including Prince of Travel). BMO’s own T&C sub-page states an application window that appears to have already ended relative to today’s date, while the main marketing page is still live with an active offer — confirm the current expiry directly with BMO before applying.

What credit score do I need to qualify for the BMO CashBack Business Mastercard?

Generally, you’ll want a good credit score to be considered for the BMO CashBack Business Mastercard. Approval also depends on income and overall credit history, not credit score alone.

Does the BMO CashBack Business Mastercard charge foreign transaction fees?

2.5%