Considered one of the “Big Five” banks in Canada, BMO offer a wide variety of different credit cards that suit unique spending habits and financial situations. With balance transfer, travel, and cash back credit cards, BMO additionally offer SPC and Air Miles credit cards. These cards allow you to reap the rewards from your spending and receive perks that you can use, whether that is a discount at participating stores, travel rewards, complimentary insurance or low interest rates.
Our guide covers the different types of BMO credit cards that are available, as well as the benefits and rewards offered by each card. We also cover the eligibility requirements and how to apply for a credit card, and finally we answer some frequently asked questions about BMO credit cards.
Compare credit cards on offer from BMO
Types of BMO credit cards available
BMO offer a wide range of credit cards, including rewards, travel, balance transfer, no annual fee, student, Air Miles and cash back credit cards. At the time of writing in May 2018, BMO currently only offer MasterCard credit cards. Here’s a summary of each of the main types of BMO credit cards you can choose from:
- Balance Transfer credit cards
BMO offer a few low interest rate credit cards that typically have zero or low annual fees, and introductory interest rates sitting between 1.99% to 3.99% for up to 9 months. These types of credit cards come with Purchase Security and Extended Warranty on most purchases.
- Travel Rewards credit cards
You can earn plenty of travel related perks with BMO Travel Rewards credit cards, including bonus welcome points, points per dollar spent, zero or low annual fees, complimentary travel and medical insurance and luxury travel perks like airport lounge access. You can use your points toward merchandise or travel. You can also purchase prepaid travel credit cards, which you can load with money before you head out on your trip.
- Cash Back credit cards
Choose from a selection of cash back credit cards that offer perks like introductory rewards points and higher introductory cash back amounts, points per dollar spent, Air Miles reward miles or exclusive deals and access to tickets, movie premiers and sports games. Additionally, all cash back credit cards come with Purchase Security and Extended Warranty.
- No Annual Fee credit cards
BMO offer a selection of no annual fee credit cards that include cash back opportunities, Air Miles, SPC or BMO rewards.
- Air Miles credit cards
BMO offer a range of Air Miles credit cards that allow you to earn Air Miles rewards miles per dollar spent on eligible purchases. Many of these cards give new customers bonus Air Miles rewards miles, as well as complimentary travel insurance and zero or low annual fees. BMO also offer a joint Air Miles SPC credit card that allows you to benefit from collecting both Air Miles as well as SPC discounts at select stores across Canada.
- SPC cards
SPC cards are catered towards students, offering anywhere between 10-15% off purchases at hundreds of retailers across Canada. These student cards come with no annual fees, as well as Purchase Security, Extended Warranty and exclusive deals and access to movie premiers, sports games and concert tickets.
- Business credit cards
BMO offer small business credit cards which can help you rack up BMO rewards points, Air Miles or earn cash back. These cards range in terms of annual fees and interest rates, so browse through the selection before you settle on the card that is right for you and your business.
- US dollar credit cards
BMO offer a US dollar credit card that allows you to avoid paying foreign currency conversion fees by charging you directly in US dollars on your credit card. This card comes with an annual fee, however if you spend over $1,000 US dollars in the calendar year, the annual fee for the following year will be rebated onto your credit card.
The benefits of banking with BMO
Some of the features you can enjoy with a BMO credit card include:
With a BMO credit card, you typically earn 1 point per $1-2 spent on your credit card. You can then use your BMO rewards points to purchase merchandise through the online store or travel related products or services.
BMO Internet and mobile banking
If you have a BMO credit card, you can access your account through the secure BMO Online Banking link located on the website. Furthermore, you can download the BMO app to your smartphone and access your accounts that way too. With these convenient options, you can manage your account, pay bills, send transfers to other accounts in Canada and overseas, request a credit limit increase or apply for another BMO product at any time online or via the handy mobile app.
BMO credit card complimentary extras
All BMO credit cards come with purchase security and extended warranty protection. Premium cards, including black, gold, platinum and elite credit cards, come with additional complimentary extras which may include travel insurance, car rental and collision insurance, airport lounge access, concierge services and other luxury travel benefits.
BMO credit cards security
BMO have a few different security protocols in place including chip technology and MasterCard Secure Code, which offers an additional layer of security when you make purchases online. Furthermore, BMO contact you immediately if there is any unusual or suspicious activity on your credit card account. If you are the victim of fraud, BMO have a team on hand that help you restore your bank balance and financial information.
How to apply for a BMO credit card
If you’ve done your due diligence and have decided you’d like to apply for a BMO credit card, you can begin your secure online application by clicking on the green “Go to site” button. This button will take you to a secure BMO credit card application page, where you will be able to begin the application process if you have all of the necessary documents and details on hand.
Before you get started on your application, ensure that you meet the eligibility requirements for the specific credit card that you are interested in. Eligibility requirements typically vary between credit cards and providers, but generally include the following:
- How old are you? You should be at least the age of majority in your province or territory to apply for your own credit card, which is typically 18 years old.
- What is your Canadian residency status? You usually need to be a Canadian citizen or a permanent resident of Canada to apply for a Canadian credit card.
- What is your credit history like? Ideally, you should have a good to excellent credit score and no recent evidence of defaults or bankruptcy. Some cards will accept fair to poor credit, however check with the provider on the specific card before you apply if you have less than good credit.
Information you will need for your application
If you meet the eligibility requirements for the BMO credit card, you can proceed with your application by collecting the following information:
- Personal information. You’ll need to provide personal information such as your address and your contact information. You’ll also need to verify your identity by providing an accepted form of identification, such as your driver’s licence number or passport number.
- Financial information. You will also need to detail information about your current employment, income and assets like shares or property and your employer’s contact details. If you’re self-employed, you may need to provide information regarding your expenses, liabilities and your accountant’s contact information.
BMO offer a variety of different credit cards that suit unique financial situations and spending habits. Do your research and find a credit card that you can reap rewards from, whether that is collecting Air Miles or paying a low interest rate.
Frequently asked questions about BMO credit cards
We’ve curated a list of the most commonly asked questions about BMO credit cards. If you can’t find the answer to your question here, or if you’d like to leave us some feedback, get in touch with us using the form at the bottom of this page.