Low Interest
Balance Transfer
BMO Preferred Rate Mastercard
BMO Bank of Montreal
Current Welcome Offer
Waived $29 annual fee for the first year + 0% intro rate on Balance Transfers
Annual Fee
$29
$0
1st Year Free
Purchase APR
13.99%
Cash Adv. APR
15.99%
Welcome Bonus
~$29
RateBuddy Verdict
The Good
- Offers a significantly lower interest rate (13.99%) compared to the standard 21.99% on most credit cards.
- Excellent balance transfer promotion offering 0% interest for the first 9 months (with a low 0.99% transfer fee).
- The $29 annual fee is fully waived in the first year.
- If you hold a BMO Performance Chequing account, the annual fee is rebated every year.
The Trade-offs
- Does not earn any cash back, travel points, or standard rewards.
- Lacks any form of travel insurance or mobile device coverage.
Rewards & Earnings
Base Rate 0.00%
Rewards Summary: Base Earn: None; This card is designed to minimize interest charges rather than earn rewards. Account Rebate: $29 annual fee is rebated every year with a BMO Performance Chequing account.
Welcome Bonus Details
Waived $29 annual fee for the first year + 0% intro rate on Balance Transfers
Estimated Value: $29.00
Features & Benefits
First-Year Fee Waived
Annual fee waived in the first year
Introductory 0% APR on Balance Transfers
0% introductory rate on Balance Transfers for 9 months
Extended Warranty Insurance
Doubles manufacturer warranty up to 1 year
Purchase Security Insurance
90 days from date of purchase
Low Purchase Interest
13.99% Purchase APR
Annual fee rebate with selected account
Rebated annually with BMO Performance Chequing Account
Additional Perks
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Insurance Coverage
Purchase Security: 90 days; Extended Warranty: +1 Year; Travel/Medical: Not Included
Rates & Fees Details
| Purchase APR | 13.99% |
|---|---|
| Cash Advance APR | 15.99% |
| Annual Fee | $29 |
| Income Required | No specific requirement listed. |