BMO · Mastercard
13.99% on purchases for $29 a year, waived in the first year. No rewards, which is the point.
Rates and features verified 2026-08-18Full terms and conditionsHow we research cards
What we like, and what we don’t
Worth having
- 13.99% on purchases, about eight points below a standard card
- The $29 fee is waived in the first year
- 0% on balance transfers for 18 statement periods, one of the longest promotions available
- No fee for additional cards
- Simple, with no programme to learn and nothing to optimise
Watch out for
- It earns no rewards at all
- The 0% balance transfer offer carries a 2% transfer fee and reverts to 15.99%, not to 13.99%
- The $29 fee returns in year two
- No travel insurance and no purchase protection
- BMO does not publish the rate on its own product page, it comes from the disclosure document
What this card earns
- What we value a point at
- Not published by the issuer
The earning fine print
No rewards program. Pure low-rate card. Cash advance fee 1.00% or minimum $5.00. Foreign currency conversion stated as 2.50% for purchases and minus 2.50% for refunds.
The welcome offer
- Also included
- The first-year annual fee is waived
What the offer actually requires
Current offer: first-year annual fee waived, plus a 0% promotional interest rate on balance transfers for 18 statement periods with a 2% transfer fee. BMO does not publish an end date for this offer.
Fees and interest rates
- Annual fee
- $29 waived the first year
- Additional card
- Free
- Foreign transaction fee
- 2.5%
- Purchase APR
- 13.99%
- Cash advance APR
- 15.99%
- Balance transfer APR
- 15.99%
- Balance transfer promo
- 0% for 18 months
- Balance transfer fee
- 2%
Who can get this card
- Minimum personal income
- Not published by the issuer
Insurance and benefits
- Purchase protection
- Included
- Extended warranty
- Included
What the benefits really mean
Extended Warranty doubles the original manufacturer's warranty up to a maximum of one additional year; Purchase Security covers eligible items for 90 days against theft or damage. Optional BMO Credit Card Balance Protection up to $20,000 of balance coverage. Travel insurance available only as a paid optional add-on. Additional cardholders are free. The 0% balance transfer promotion carries a 2% transfer fee and reverts to 15.99%, not to the 13.99% purchase rate. The $29 annual fee is only waived in year one. BMO's product page renders its fee and rate fields from an API that returned 'ERROR API VALUE NOT FOUND' on fetch. The numbers here come from the cost-of-borrowing disclosure, not the marketing page. BMO states a minimum income requirement applies but publishes no figure.
Our verdict
Eighteen statement periods at 0% is the longest balance transfer promotion in this comparison, and that is the reason to look at this card. On $8,000 of transferred debt, eighteen months of no interest against a 2% transfer fee of $160 is a very good trade if you actually clear the balance in the window.
Read the reversion rate before you plan around it. The promotion does not fall back to the 13.99% purchase rate, it falls back to 15.99%, which is a detail BMO does not emphasise. As an ongoing card it earns nothing and costs $29, so it only makes sense for somebody who carries a balance. If you pay in full, this is the wrong card.
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Where this came from. BMO Preferred Rate product page (benefits, free additional cardholder, eligibility), BMO credit card terms and conditions popup ($29 waived first year; 0% for 18 statement periods with 2% fee), and BMO cost-of-borrowing insert CC190-COB-EN (06-26) for 13.99% purchases, 15.99% cash advances/balance transfers, $29 annual fee, 2.50% FX and the 1%/$5 cash advance fee.. We take every figure from the issuer’s own pages, never from another comparison site, and we leave a field blank rather than guess at it.