The BMO Air Miles Business Mastercard is the best credit card for business owners who are dedicated to the Air Miles program.
With a sizeable welcome bonus and a long-running first-year fee waiver, this card could be a useful option for any business owner looking to pick up some extra Air Miles to supplement their next trip.
As a welcome bonus, this card offers 3,000 Air Miles upon spending $5,000 within the first 90 days. That’s a fairly strong welcome bonus that’s on par with the personal version of the card.
The card has an annual fee of $120, which is waived for the first year. You can give the card a spin at no cost before deciding whether it’s a good long-term fit for your business needs.
The fee for adding authorized users is $50.
The BMO Air Miles Business Mastercard has a two-tier earning structure. You’ll earn:
The base earning rate is fairly competitive for a business credit card, and is on par with the personal BMO Air Miles World Elite. The 25% bonus at Shell gas stations is a nice extra bonus.
Having said that, unless you’re specifically aiming to collect Air Miles with your business expenses, there are much more valuable points currencies towards which you could put your business spending instead.
Air Miles are redeemed in two categories: Cash Rewards and Dream Rewards. You can set your preference on the Air Miles website in any ratio (e.g., 95% Cash Rewards, 5% Dream Rewards), but keep in mind while you can change this later, the miles cannot be reallocated.
Cash Rewards can be redeemed at a rate of 95 Air Miles = $10 (10.5 cents per point) at participating merchants, including the Sobeys and Metro grocery chains.
Dream Rewards are best redeemed for travel, including short-haul flights, hotels, car rentals, and attraction tickets. You should always aim to redeem Dream Rewards for at least 10.5 cents per point against the cash price, as otherwise you would’ve been better off collecting Cash Rewards instead.
The BMO Air Miles Business Mastercard provides fairly comprehensive of travel insurance, with the exception of emergency medical insurance. There’s the usual coverage for trip cancellation, trip interruption, flight delay, lost or stolen baggage, and more.
As far as car rentals go, this card covers up to an MSRP of $65,000, with $1,000 of personal effects insurance in case your belongings are stolen or damaged in a rental vehicle.
Like BMO’s other World Elite cards, the insurance on this card kicks in if you charge the “full or partial cost” of the trip to the card, which makes it a suitable choice for travel insurance on award tickets if you book a flight with points and charge the taxes and fees to the card.
This card will also double the manufacturer’s warranty for purchases made with the card, up to one additional year.
The BMO Air Miles Business Mastercard is available for any business, whether you run a sole proprietorship or a corporation. You may need to show various types of business registration documents depending on the structure of your enterprise.
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