Bank of Montreal (BMO) unveils range of credit cards

0

You are reading Entrepreneur United States, an international Entrepreneur Media franchise. This story originally appeared on Zacks

To strengthen its credit card business, the Canadian company Bank of Montreal BMO has expanded its line of Mastercard credit cards for Canadian businesses with the launch of the BMO World Elite Business Mastercard and BMO AIR MILES World Elite Business Mastercard.

– Zack

Through BMO’s online banking services, the new credit cards allow business owners to separate their business purchases from their personal expenses. The cards also offer features and benefits designed to meet the unique needs of each business, such as point accelerators and up to 22 additional cards for employees to purchase on behalf of the business to earn rewards. points faster. Both cards are designed with category-specific accelerators that reward customers for their business expenses.

The BMO World Elite Business Mastercard offers cardholders the opportunity to earn four BMO Rewards points for every dollar spent on gas, office supplies, and cell phone and Internet bill payments (up to a maximum spend of $ 50,000 ). Additionally, 1.5 BMO Rewards points will also be earned for every $ 1 spent on all other card purchases.

That aside, the Bank of Montreal BMO AIR MILES World Elite Business Mastercard offers the highest AIR MILES earning rate by giving cardholders the chance to earn 4x the reward miles on use. of their card at participating AIR MILES partner points of sale.

By embedding business costs on a dedicated map, businesses can better work in important arenas while capitalizing on a diverse range of benefits tailored to meet the needs of their businesses.

Mike Bonner, Head of Canadian Business Banking, BMO Financial Group, said, “Small businesses are the backbone of the Canadian economy. Therefore, at BMO, we make sure we take care of the entrepreneurs who run these businesses. We’re proud to be the bank that helps business owners make real financial progress in their business and in their personal lives with a range of offerings that allow us to help them in all aspects of their financial lives. “

The unveiling of these cards will likely result in Bank of Montreal’s credit card and service charges, propelling its commission income to rise in the quarters to come. In addition, it will help BMO strengthen its position in the competitive credit card industry.

Shares of this Zacks Rank # 2 (Buy) Bank of Montreal have gained 52.1% on the NYSE over the past year compared to industry growth of 17.5%.

Zacks investment researchImage source: Zacks Investment Research

You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.

Other actions to consider

Other actions to consider in the banking space are Grupo Financiero Galicia GGAL, Ban Colombia CIB and Canadian Imperial Bank of Commerce CM. Currently, Grupo Financiero Galicia and BanColombia have a Zacks rank of # 1, while the Canadian Imperial Bank of Commerce has a Zacks rank of 2.

Over the past year, shares of GGAL and CIB have gained 6.6% and 0.6%, respectively, while shares of CM have risen 39.4%, on the NYSE.

Zacks’ consensus estimate for Grupo Financiero Galicia’s current year earnings has been revised up 6.4%, while BanColombia’s has moved 9.4% north to in the last 30 days. Current year profit estimates for the Canadian Imperial Bank of Commerce increased slightly over the same period.

Investor Alert: Legal Marijuana Looking for Big Gains?

Now is the time to jump into a young industry poised to skyrocket from $ 13.5 billion in 2021 to $ 70.6 billion expected by 2028.

After a clean sweep of 6 electoral referendums in 5 states, the pot is now legal in 36 states and federal legalization of DC is expected soon and this could launch an even bigger boon for investors. Zacks Investment Research recently closed pot stocks which climbed to + 147.0%

You are invited to consult Zacks immediately Marijuana Moneymakers: An Investor’s Guide. It presents a timely watchlist of pot stocks and ETFs with exceptional growth potential.

Today, download Marijuana Moneymakers FOR FREE >>

Want the latest recommendations from Zacks Investment Research? Today you can download 7 best stocks for the next 30 days. Click to get this free report

Bank of Montreal (BMO): Free Stock Analysis Report

Canadian Imperial Bank of Commerce (CM): Free Stock Analysis Report

Grupo Financiero Galicia SA (GGAL): Analysis report of free stocks

BanColombia SA (CIB): Free Stock Analysis Report

To read this article on Zacks.com, click here.

Zacks investment research


Source link

Share.

Comments are closed.