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BMO Preferred Rate Mastercard®*

Everything you need to know about the BMO Preferred Rate Mastercard®*, an entry-level low interest credit card option issued by BMO.

Updated on: May 3, 2024

Annual fee

$29

Interest rates:

13.99% purchase 15.99% cash advance 15.99% balance transfer

Perks & benefits:

0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee 13.99% interest rate on purchases

Insurance:

Basic

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.

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 anniversary on the BMO Preferred Rate Mastercard®*.

Earning Rewards

There is no earning potential on this card right now.

Redeeming Rewards

Perks & Benefits

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.

†Terms and conditions apply. BMO is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information.

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