BMO Preferred Rate Mastercard
Get a 0% introductory interest rate on Balance Transfers for 9 months with a 0.99% transfer fee and we'll waive the $29 annual fee for the first year.
Affiliate Disclosure: We may receive compensation when you click on links to products from our partners. This helps us provide free comparison tools and content. Our editorial opinions are independent of any compensation we receive. This link takes you to BMO's website where you can complete your application.
📋Card Overview
🎁Welcome Bonus & Eligibility
Welcome Offer
Get a 0% introductory interest rate on Balance Transfers for 9 months with a 0.99% transfer fee and we'll waive the $29 annual
✨Key Card Features
- N/A
🏆Rewards Program
N/A
Earn rewards on every purchase with the N/A program. Redeem for travel, merchandise, gift cards, or statement credits.
👤Who Can Apply?
Residency
Canadian residents
Eligibility
Be a Canadian citizen or permanent resident. Have not declared bankruptcy in the past seven years. Have reached the age of majority in the province in which you live
🤔Is This Card Right For You?
✅ This card is great for:
- •People who want N/A rewards
- •Anyone looking for a generous welcome bonus
❌ Look elsewhere if:
- •You want a no-annual-fee card
- •You don't spend enough to justify the rewards structure
- •You prefer a different rewards program
⚖️Pros & Cons
Pros
- +Generous welcome bonus: Get a 0% introductory interest rate on Balance Transfers for 9 months with a 0.99% transfer fee and we'll waive the $29 annual fee for the first year.
- +Free additional cards
Cons
- −Limited premium benefits for the annual fee
🏆Our Verdict
The BMO Preferred Rate Mastercard offers a balanced mix of rewards and benefits for the $29 annual fee. The welcome bonus helps justify the first-year cost. Consider your spending habits to determine if this card aligns with your financial goals.
Apply on Issuer Site❓Frequently Asked Questions
What is the annual fee for the BMO Preferred Rate Mastercard?
The BMO Preferred Rate Mastercard has an annual fee of $29. Get the $29 annual fee rebated every year when you also have a BMO Performance chequing account..
What are the interest rates for the BMO Preferred Rate Mastercard?
The purchase interest rate is 13.99% and the cash advance rate is 15.99%.
Who can apply for the BMO Preferred Rate Mastercard?
Be a Canadian citizen or permanent resident. Have not declared bankruptcy in the past seven years. Have reached the age of majority in the province in which you live
What welcome bonus does the BMO Preferred Rate Mastercard offer?
Get a 0% introductory interest rate on Balance Transfers for 9 months with a 0.99% transfer fee and we'll waive the $29 annual
Is the BMO Preferred Rate Mastercard worth it?
The BMO Preferred Rate Mastercard is worth considering if you can maximize its rewards. The welcome bonus of Get a 0% introductory interest rate on Balance Transfers for 9 months with a 0.99% transfer fee and we'll waive the $29 annual fee for the first year. adds significant value. The N/A program offers flexibility for redemptions.
