BMO Rewards Mastercard Review
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Earn more points on everyday purchases and collect them faster with a generous welcome bonus.
Earn a bonus of up to 20,000 BMO Rewards points. Earn 10,000 BMO Rewards points when you make your first eligible purchase, and earn 10,000 BMO Rewards points when you spend a minimum of $1,000 on eligible purchases in the first three months. Apply by May 3, 2020. Plus, get a rate of 1.99% on balance transfers for 9 months. A 1% fee applies to transferred balances.19.99%
Purchase Interest Rate
$0
Annual Fee
1.99% for the first 9 months (then 22.99%)
Balance Transfer Rate
Details
| Product Name | BMO Rewards Mastercard |
|---|---|
| Reward | Get 1 BMO Reward point for every $1 spent on eligible purchases, and get 2 BMO Rewards points for every $1 spent at participating National Car Rental and Alamo Rent A Car locations. |
| Welcome Offer | Earn a bonus of up to 20,000 BMO Rewards points. Earn 10,000 BMO Rewards points when you make your first eligible purchase, and earn 10,000 BMO Rewards points when you spend a minimum of $1,000 on eligible purchases in the first three months. Apply by May 3, 2020. Plus, get a rate of 1.99% on balance transfers for 9 months. A 1% fee applies to transferred balances. |
| Purchase Interest Rate | 19.99% |
| Cash Advance Rate | 22.99% |
| Balance Transfer Rate | 1.99% for the first 9 months (then 22.99%) |
| Interest Free Period | Up to 21 days |
| Go to site More Info |
30-second take
- 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.
The basics
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, and get 2 BMO Rewards points for every $1 spent at participating National Car Rental and Alamo Rent A Car locations.
- Welcome bonus. Earn a bonus of up to 20,000 BMO Rewards points. Earn 10,000 BMO Rewards points when you make your first eligible purchase, and earn 10,000 BMO Rewards points when you spend a minimum of $1,000 on eligible purchases in the first three months. Apply by May 3, 2020.
- Balance transfer offer. Get a rate of 1.99% on balance transfers for 9 months. A 1% fee applies to transferred balances.
- Purchase protection. Protect the items you buy on your card with extended warranty and insurance coverage.
The perks
- Car rental discounts. Get up to a 25% discount 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 19.99% on purchases and 22.99% 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.
Bottom line
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.