BMO Preferred Rate Mastercard®*

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Pros

✓First Year Annual Fee Rebate ($29 annual fee rebated)
✓Purchase protection included

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Cons

✗Foreign Transaction Fee (2.5%)

Our Review

The BMO^MD Preferred Rate Mastercard^MD* is an excellent option for those who want to reduce interest charges or pay off a balance faster.

With this offer, you get a 0% introductory interest rate on balance transfers for 18 months, with a 2% transfer fee and no annual fee for the first year.

The card also offers one of BMO’s lowest interest rates, at 13.99% on purchases, which may be appealing if you occasionally carry a balance on your card.

With the BMO^MD Preferred Rate Mastercard^MD*, you also get:

Extended warranty insurance and purchase protection insurance*
The option to add another cardholder for free*
Zero Liability Protection, which protects you against unauthorized transactions*
A card accepted at more than 30 million merchants worldwide*
Three months of Instacart+ membership plus a $5 monthly Instacart credit with an eligible card*

Rewards

All Spending

0x

pts per dollar

Purchase Protection

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Purchase Protection

Included

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Extended Warranty

+1 year(s)

Interest Rates

Purchase Rate
13.99%
Cash Advance
15.99%
Balance Transfer Promo
0%
Foreign Transaction Fee
2.5%

Terms & Conditions

Card Features

Get a 0% introductory interest rate on balance transfers for 18 months (2% transfer fee applies) and a waiver of the $29 annual fee for the first year*.

Get the lowest interest rate: 13.99% on purchases*
Free* extended warranty insurance and purchase protection insurance
Add another cardholder for free*
Zero Liability Protection: You are protected against unauthorized use of your card*
Card acceptance at more than 30 million merchants worldwide*
Enjoy three months of Instacart+ membership and a $5 monthly Instacart credit when you sign up with your eligible BMO credit card*

FAQ

What is the best BMO low-interest credit card?

The best BMO low-interest credit card is the BMO Preferred Rate Mastercard®*. This credit card is one of the best low-interest credit cards in Canada.