BMO® Preferred Rate MasterCard®* | Shop Canada's Best Credit Cards | Compare Credit Cards |

BMO® Preferred Rate MasterCard®*

Card Details

Network: Mastercard
Provider: BMO Bank of Montreal
Type: Low Interest, Balance Transfer
Credit Required: Good Credit

Offers & Rewards

3.99% Introductory rate on Balance Transfers for 9 months*

Fees & Rates

Intro Balance Transfer Rate:
3.99% for 9 months
Purchases: 12.99%
Cash Advances:  12.99%
Balance Transfers:  12.99%
Annual Fee: $20.00

  • Welcome Offer: Get a 3.99% introductory interest rate on Balance Transfers for 9 months with a 1% transfer fee* and we’ll waive the $20 annual fee for the first year*
  • Enjoy our lowest interest rate of 12.99% on purchases and cash advances*
  • Free extended warranty and purchase protection*
  • Zero Dollar Liability: protects you from unauthorized use of your credit card*
  • Worldwide acceptance at over 30 million locations*

*Terms and conditions apply

Editor's Review

If you're tired of paying sizeable interest rates on your credit card, the BMO® Preferred Rate MasterCard® will give you the break you're seeking. An annual fee of $20 comes with the card, and you have to be making at least $15,000 a year to be approved. The 3.99% introductory interest rate on balance transfers for the first nine months will make meeting those pre-requisites worth it though. With an interest rate of 12.99% on purchases and cash advances, this is the lowest interest rate BMO offers for any of their credit cards.  

So, if you have a card balance of $5,000, factoring in the introductory rate, the subsequent 12.99% interest rate, and the fee, you will save $580 in the first year. If you’re someone who has existing credit card debt or is tired of interest rates eating up your money, this card will do wonders. This MasterCard also offers an extended warranty, zero liability, and purchase protection to give you full transaction coverage. It's a card that provides financial relief when you most need it.

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