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  BMO Harris Bank Business Platinum Mastercard®

BMO Harris Bank Business Platinum Mastercard®

in Business Credit Cards from BMO Harris Bank

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BMO Harris Bank Business Platinum Mastercard®

Unaffiliated

in Business Credit Cards from BMO Harris Bank

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Highlights
Purchase APR  (Variable APR) 11.24% - 20.24%
Balance Transfer APR  (Variable APR) 11.24% - 20.24%
Credit Score Range 600 - 850
Annual Fee $0

BMO Harris Bank Business Platinum Mastercard® Review

Key Takeaways
  • 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 18 months, which is longer than the average 0% APR period of 12 months.
  • 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 18 months.
  • Competitive APRs. BMO Harris Bank Business Platinum Mastercard® has a variable purchase APR that ranges from 11.24% up to 20.24%.
  • No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
  • 4% Balance transfer fee. BMO Harris Bank Business Platinum Mastercard® charges a fee of 4% on balance transfers. For example, a balance of $1,000 could cost $40 in transfer fees. The minimum fee is $10.
  • Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 2% every time you make a transaction outside the U.S.
  • Multiple business credit card benefits. Includes generous credit card perks, such as rental insurance, extended warranty protection on purchases, identity theft protection, purchase protection, travel accident insurance, travel assistance, and fraud protection.
  • Fair or better credit required. You will have good approval odds if your credit score is above 600.
Pros & Cons of BMO Harris Bank Business Platinum Mastercard®
The Good The Bad
  • Lower than average purchase APRs.
  • 0% APR balance transfer intro rate on balance transfers for up to 18 months.
  • 0% APR on new purchases during the first 18 months.
  • No annual fee.
  • Multiple business credit card perks.
  • Offers auto rental collision damage waiver.
  • Extended warranty on purchases.
  • Identity Theft Protection.
  • Travel accident and travel assistance insurance.
  • Considers applicants with fair or poor credit.
  • BMO Harris Bank Business Platinum Mastercard® reports to multiple credit bureaus.
  • Does not offer a signup bonus.
  • Does not offer rewards or cash back.
  • Charges a foreign transaction fee of 2%.
  • You don't earn rewards on every purchase.
  • Charges a 4% balance transfer fee.
BMO Harris Bank Business Platinum Mastercard® FAQ

Who is BMO Harris Bank Business Platinum Mastercard® designed for?

This is a credit card issued by BMO Harris Bank. 

This business card is designed for small businesses with fair credit. The minimum credit score to apply is 600.

What are the relevant APRs?

This business credit card has a variable purchase APR that ranges from 11.24% up to 20.24%. The card has a variable balance transfer APR that ranges from 11.24% up to 20.24%.

It also has a variable cash advance APR of 27.24%.

Does it have an introductory APR offer?

Yes, this business card offers an introductory APR rate on balance transfers of 0% for a period of 18 months from account opening.

This business card does offer an introductory APR rate on new purchases of 0% for a period of 18 months.

BMO Harris Bank Business Platinum Mastercard® Rates & Terms
Purchase APR 11.24% - 20.24%
Balance Transfer APR 11.24% - 20.24%
Cash Advance APR 27.24%

What fees does it charge?

The following fees apply to this business credit card:

  • There is no annual fee.
  • A late payment penalty of up to $39.
  • A returned payment fee of up to $39.
  • An overlimit fee of $39.

Does it charge a foreign transaction fee?

This business card charges a foreign transaction fee of 2%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $40. If you travel abroad you may want to leave this business card at home and apply for one that doesn't charge a foreign transaction fee.

BMO Harris Bank Business Platinum Mastercard® Fees
Fees Amount
Annual Fee $0
Foreign Transaction Fee 2%
Balance Transfer Fee 4%
Minimum Balance Transfer Fee $10
Returned Payment Fee $39
Late Payment Fee $39

Does it offer a cash back rewards program?

No, it does not offer a cash back rewards program.

Can I get it with just an employer identification number (EIN)?

You can apply for this business credit card with your EIN number, but expect the credit card issuer to also require your Social Security number. This is because, as with most business cards, it requires you to personally guarantee the line of credit.

What are the benefits?

This business credit card provides the following benefits:

  • Auto Rental Collision Damage Waiver
  • Extended Warranty Protection
  • Fraud Liability
  • Travel Accident Insurance
  • Travel Assistance
  • Reports to major credit bureaus

What is the customer service phone number?

The customer service number for this business card is (888) 340-2265.

What is the support contact email?

The support contact email for this business credit card is servicemembers@bmo.com.

Does BMO Harris Bank Business Platinum Mastercard® report your account activity to credit bureaus?

Yes, BMO Harris Bank Business Platinum Mastercard® reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply?

  • Visit the BMO Harris Bank .
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.
  • Check the information is accurate and submit your application.
  • If you're denied click here to find out why your application may have been rejected and what you can do about it.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From BMO Harris Bank Business Platinum Mastercard®

Easily manage your business finances and improve your cash flow with a business credit card. Enjoy competitive rates and no annual fee.

Feature Breakdown

Introductory Rate 0%
Purchase Intro APR Period (Variable APR) 18 months
Annual Fee $0
No Annual Fee
Cash Advance Fee (%) Up to 5%
Cash Advance Fee Minimum $10
Foreign Currency Transaction Fee 2%
Late Fee Amount $39
Minimum Cash Advance Fee ($) Starting at $10
Over-Limit Fee $39
Returned Payment Fee $39
Customer Type Business
Minimum Age 18
Credit Score Range 600 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Identity Theft Protection
  • Auto Rental Collision Damage Waiver
  • Extended Warranty Protection
  • Purchase Protection
  • Fraud Liability
  • Travel Accident Insurance
  • Travel Assistance
Rewards Type No Rewards
Cash Advance APR (Variable APR) 27.24%
Purchase APR (Variable APR) 11.24% - 20.24%
Balance Transfer Fee % 4%
Balance Transfer Fee % After Intro Period Starting at 4%
Balance Transfer Fee Minimum $10
Balance Transfer Intro APR Period (Variable APR) 18 months
Balance Transfer Introductory APR (Variable APR) 0%
Balance Transfer APR (Variable APR) 11.24% - 20.24%
Card Network Mastercard
Card Type
  • Balance Transfer
  • Low Interest
  • Zero Percent

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