BMO Rewards Mastercard Review
Earn more points on everyday purchases and collect them faster with a generous welcome bonus.Get a bonus of 10,000 BMO Rewards points when you spend $1,000 in the first 3 months. Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
Up to 1 points per $1 spent
|Welcome Offer||Get a bonus of 10,000 BMO Rewards points when you spend $1,000 in the first 3 months.|
|Rewards||Get 1 BMO Reward point for every $1 spent on eligible purchases.|
|Purchase Interest Rate||20.99%|
|Cash Advance Rate||22.99% (21.99% for Quebec residents)|
|Balance Transfer Rate||0.99% for the first 9 months (then 22.99%)|
|Interest Free Period||Up to 21 days|
- Think about this card if you’re looking to top up your points with a welcome bonus but don’t want to pay an annual fee.
- Choose something else if you’d rather have a low interest rate or want more benefits.
- There are no annual income requirements for this card.
If you want a decent return on points without having to pay an annual fee, then the BMO Rewards Mastercard could be a good fit for you.
- Earn rewards points. Get 1 BMO Reward point for every $1 spent on eligible purchases.
- Welcome bonus. Get a bonus of 10,000 BMO Rewards points when you spend $1,000 in the first 3 months.
- Balance transfer offer. Get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
- Purchase protection. Protect the items you buy on your card with extended warranty and insurance coverage.
- Car rental discounts. Get a discount of up to 25% off at National Car Rental and Alamo Rent A Car locations. Plus, earn 2 BMO Rewards points for every $1 spent at participating locations.
- Zero liability coverage. Rest easy knowing you’re protected against fraudulent charges on your account.
- Enhanced security. Use your Mastercard SecureCode to protect your purchases online.
- Optional benefits. Pay more for roadside assistance, balance protection or credit card alerts.
- Free additional cards. Avoid paying extra when you add cards to your account.
- Easy to qualify. You won’t have to make a certain income to qualify for this card.
What to watch out for
- Low return. You’ll get a higher return on points with premium cards like the BMO Rewards Mastercard.
- High interest. You’ll pay 20.99% on purchases and 22.99% (21.99% for Quebec residents) on cash advance transactions.
- Few benefits. You won’t receive additional benefits like travel insurance, airport lounge access or mobile phone insurance.
What should I know before I apply
How to apply
- Click “Go to site” on this page to be directed to the BMO Rewards Mastercard application.
- Complete the application, which includes providing your name, email address, social insurance number and birth date.
- Review and submit your application.
The BMO Rewards Mastercard is a good fit for customers who want a decent return on points for no annual fee. This card comes with a welcome offer, an introductory balance transfer rate and other perks like car rental discounts and purchase protection.