Annual fee
CA$29
Rewards rate
The BMO Preferred Rate Mastercard is primarily designed as a low-interest, low-fee card for reducing debt rather than a rewards-focused card.
Welcome Bonus
0.99% for 9 months
Apply Now →on BMO's website
- No rewards breakdown available
Welcome Bonus:
Get a 0% introductory interest rate on Balance Transfers for 9 months with a 0.99% transfer fee.
Reward Rate:
The BMO Preferred Rate Mastercard is primarily designed as a low-interest, low-fee card for reducing debt rather than a rewards-focused card.
The BMO Preferred Rate Mastercard is the best option for those focused on managing debt with its low interest rates and promotional balance transfer offer.
Pros:
- Low interest rate
- 0.99% introductory balance transfer rate
Cons:
- Annual fee applies
- Limited rewards
The BMO Preferred Rate Mastercard is particularly suitable for individuals seeking to manage existing debt, as it offers low interest rates and a promotional balance transfer option. Its annual fee is modest, making it a practical choice for those prioritizing cost-effective debt repayment over rewards.