$29 Annual fee, first year waived The BMO Preferred Rate Mastercard is a basic credit card. It’s a fine entry-level choice if you already bank with BMO and are looking to open your first credit card, but otherwise there’s limited appeal.
BMO offers Balance Protector on this card, which is an opt-in feature that can help to protect you in unforeseen circumstances.
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Bonuses & Fees
Currently, there is a welcome offer of 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee and the $29 annual fee will be waived for the first year on the BMO Preferred Rate Mastercard.
Earning Rewards
There is no earning potential on this card right now.
Insurance Coverage
The BMO Preferred Rate Mastercard offers a doubling of the manufacturer’s warranty up to one additional year as well as provides 90 days of purchase protection.