Our Verdict
Which is better: Chase or BMO Harris Business Credit Cards?
When it comes to choosing between Chase and BMO Harris for business credit cards, both options have their merits, but Chase edges ahead as the more compelling choice for a variety of reasons.
Here is why Chase Wins Over BMO Harris Business Credit Cards:
- Versatility: Chase offers varied cards to suit different business needs, while BMO Harris lacks comparable options.
- Robust Rewards: Chase’s cards feature enticing sign-up bonuses and ongoing rewards, enhancing business growth.
- Ultimate Rewards: Chase’s Ultimate Rewards platform maximizes points, adding substantial value.
- Customer Service: Chase’s reputation for service and user-friendly platforms outshines BMO Harris.
- Proven Reliability: Chase’s track record surpasses BMO Harris, establishing trust in business credit cards.
While BMO Harris also provides business credit card options, Chase’s extensive offerings, robust rewards programs, and proven track record give it the edge in this comparison.
Keep in mind that your business requirements might differ, and BMO Harris could be fitting for specific scenarios. However, focusing on the bigger picture, Chase stands out as the more adaptable and lucrative choice for businesses spanning various industries.
Why Choose Chase
Who Chase Is Best For
Chase is the right fit for your business if you:
- Possess a strong credit score.
- Desire a diverse selection of credit card options.
- Value a robust rewards program.
- Require excellent customer service.
- Engage in frequent international travel.
Who Chase Is Not Right For
Chase might not suit your needs if your business:
- Has a poor credit score.
- Prefers budget-friendly credit cards.
- Doesn’t require an extensive range of credit card options.
- Doesn’t engage in international travel.
Why Choose BMO Harris
Who BMO Harris Is Best For
BMO Harris fits well if your business:
- Operates in the Midwest region.
- Prefers a bank with a robust local footprint.
- Values competitive interest rates.
- Doesn’t require an extensive array of credit card choices.
- Doesn’t engage in international travel.
Who BMO Harris Is Not Right For
BMO Harris might not align with your needs if your business:
- Operates outside the Midwest region.
- Desires a broad selection of credit card options.
- Seeks a robust rewards program.
- Requires international travel.
Chase vs. BMO Harris: Main Differences
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Chase vs. BMO Harris: Standout Features
Chase
– Diverse Card Options: Chase provides a wide range of business credit card options to meet different needs, such as travel rewards, cash back, and credit building. This diversity ensures that your business can find a card that aligns perfectly with its goals.
– Strong rewards program: Chase offers a variety of business credit cards with different rewards categories, so you can choose the one that best suits your business needs. Some of their popular reward cards include:
- Chase Ink Business Preferred® Credit Card: This card offers a generous welcome bonus of 80,000 points after you spend $5,000 on purchases in the first 3 months from account opening. It also earns 3x points on travel, shipping, internet, cable, and phone services, and 2x points on restaurants and gas stations.
- Chase Ink Business Cash® Credit Card: This card offers a welcome bonus of $750 after you spend $4,000 on purchases in the first 3 months from account opening. It also earns 5% cash back on office supplies, internet, cable, and phone services, and 2% cash back on gas stations and restaurants.
- Chase Ink Business Unlimited® Credit Card: This card offers a welcome bonus of $750 after you spend $3,000 on purchases in the first 3 months from account opening. It also earns 2x points on all
– No foreign transaction fees: Chase business credit cards do not charge foreign transaction fees, so you can use them abroad without having to worry about paying extra fees.
– Accounting integrations: Chase offers accounting integrations with QuickBooks and other popular accounting software. This can make it easy to track your business expenses and keep your books organized.
– Good customer service: Chase has a good reputation for customer service. You can be confident that you’ll get help if you need it.
BMO Harris
– Strong Local Presence: BMO Harris stands out for its localized approach, especially in the Midwest region. If you value a bank that deeply connects with your community and emphasizes local relationships, BMO Harris’s dedication to these principles can greatly benefit your business.
– Competitive Interest Rates: If you’re aiming to control expenses while still accessing credit, BMO Harris’s competitive interest rates could be a valuable advantage for your business.
– Potential for Lower Fees: For your business, if reducing fees associated with credit cards is a priority, BMO Harris might offer choices that lead to potential long-term cost savings.
When comparing the standout features of Chase and BMO Harris business credit cards, it’s important to consider your specific business priorities and goals. Whether you prioritize robust rewards, a strong local presence, or competitive interest rates, evaluating these features can guide your decision-making process.
Chase vs. BMO Harris: Savings Accounts
BMO Harris takes the lead here. It offers elevated interest rates on its savings accounts, despite necessitating a minimum balance of $25,000. This translates to higher earnings on your savings when compared to Chase, even after considering the monthly maintenance fee.
Here is a table that summarizes the main differences between Chase and BMO Harris savings accounts:
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Chase vs. BMO Harris: Checking Accounts
In the context of Chase vs. BMO Harris: Checking Accounts, the outcome hinges on your specific requirements, making it a balanced result. If your priority is a checking account without a monthly maintenance fee, Chase stands out as the preferred option. However, if you seek a checking account offering greater free ATM transactions and additional benefits, BMO Harris gains the upper hand.
Here is a table that summarizes the main differences between Chase and BMO Harris checking accounts:
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Pros and Cons of Chase
- Pros
- Offers a robust rewards program
- Provides good customer service
- Makes the application process easy
- Gives the advantage of no foreign transaction fees
- Presents a wide range of credit card options
- Cons
- Imposes high annual fees on some cards
- Features high APRs on some cards
- Sets strict credit requirements
- Lacks high street branches
Pros and Cons of BMO Harris
- Pros
- Establishes a strong local presence
- Provides competitive interest rates
- Simplifies the application process
- Eliminates foreign transaction fees
- Delivers good customer service
- Cons
- Offers fewer credit card options compared to Chase
- Yields a rewards program not as strong as Chase’s
- Enforces strict credit requirements
- Features fewer branches outside of the Midwest
Chase vs. BMO Harris: Customer Reviews
With an overall rating of 4.5 out of 5 stars based on a substantial pool of over 100,000 reviews, Chase garners positive sentiment. Its strengths include a robust rewards program, quality customer service, a user-friendly application process, and the absence of foreign transaction fees. However, a noted drawback is the presence of high annual fees on certain cards.
On the BMO Harris front, an overall rating of 4 out of 5 stars from over 50,000 reviews indicates favorable customer reception. Praised attributes encompass competitive interest rates, extensive branch and ATM availability, strong customer service, minimal or no annual fees on many cards, and enticing welcome bonuses. Nonetheless, BMO Harris falls short in terms of rewards program breadth compared to Chase, and its branch network is comparatively concentrated in the Midwest.
While both institutions gather favorable feedback, Chase enjoys a slightly higher overall rating, likely owing to its diverse credit card lineup and strong rewards offerings. As your choice hinges on your business’s unique requirements, evaluating these reviews can offer valuable insights to align with your goals.
Chase and BMO Harris Competitors
Some of the competitors of Chase and BMO Harris for business credit cards include:
American Express:
American Express stands out as a well-respected credit card company, valued for its expertise in both personal and business financial services. In the realm of business credit cards, they offer noteworthy options like the American Express® Business Gold Card and the American Express® Business Platinum Card. These cards are particularly esteemed for their robust rewards programs, often granting bonus points or cashback tailored to businesses’ specific spending categories, such as travel, advertising, and office supplies.
What sets American Express apart is its renowned commitment to exceptional customer service. This can play a pivotal role in promptly addressing any queries or concerns that your business may encounter. Moreover, its extensive network of merchants adds an extra layer of appeal to its business credit cards, fostering convenience and accessibility for your business needs.
Capital One:
Capital One is a prominent player in the credit card industry and offers a suite of business credit cards, including the Spark Cash Plus for Business and the Spark Miles for Business.
One of the standout features of Capital One’s business cards is its competitive interest rates, which can benefit your business that carry a balance or require financing. The easy application process is another appealing aspect, streamlining the process for your business seeking quick access to credit. Capital One’s business cards often come with rewards programs, providing cashback or travel miles for business-related expenses.
Discover:
Discover is recognized for its cashback rewards program, and it extends this offering to business credit cards as well. The Discover it® Business and Discover it® Miles for Business are notable choices in their lineup.
One of the major draws of Discover’s business cards is the absence of an annual fee, which can be especially appealing to your business looking to minimize costs. Generous welcome bonuses provide an additional incentive for a cardholder. Cashback rewards can contribute to savings over time, making Discover’s business cards suitable for your business that prefers straightforward reward structures.
Wells Fargo:
Wells Fargo, as a major bank, offers business credit cards such as the Wells Fargo Business Platinum Card and the Wells Fargo Business Advantage® Visa® Card. One of the prominent advantages of Wells Fargo’s business cards is their competitive interest rates, this is especially advantageous if your business intends to carry a balance.
If you’re looking for easy in-person banking, Wells Fargo’s extensive branch and ATM network is a valuable asset. Moreover, these cards bring a host of benefits tailored to various business requirements, including expense management tools and customized rewards programs.
Ultimately, the choice of the best business credit card depends on your unique business requirements and preferences. Whether you prioritize rewards, low fees, competitive interest rates, or convenience, evaluating these options in light of your specific needs helps you find the ideal fit for your business.
Pro Tips
- Align card rewards with your business spending patterns.
- Seek cards with appealing welcome bonuses for a boost.
- Weigh rewards against annual fees and interest rates.
- Choose cards with reliable customer support.
- Opt for cards from companies with extensive branch and ATM networks.
- Leverage cards with online expense management tools.
- Consider cards with benefits for international travel.
- Understand terms, rewards structure, and fees before applying.
Recap
In the comparison between Chase and BMO Harris business credit cards, Chase emerges as the preferred choice due to its extensive card variety, robust rewards, user-friendly platforms, and proven track record. While BMO Harris has its merits, Chase’s adaptability and value proposition make it the more compelling option. Pro tips emphasize aligning rewards, leveraging bonuses, and considering fees while keeping in mind business specifics. The ultimate decision rests on your unique requirements, ensuring that your chosen card optimally serves your business goals and needs.
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