- No rewards breakdown available
The welcome offer for the BMO Preferred Rate Mastercard includes a 0% introductory interest rate on balance transfers for 18 months with a 2% transfer fee, plus the $29 annual fee waived for the first year.
The BMO Preferred Rate Mastercard does not offer a cash-back or points rewards program, as it is designed as a low-interest card rather than a rewards card.
The BMO Preferred Rate Mastercard is a solid option for those looking to save on interest charges, featuring a low annual fee and a 0% introductory rate on balance transfers, making it a practical choice for managing debt.
Pros:
- Low annual fee
- 0% introductory rate on balance transfers
Cons:
- No rewards program
- Higher cash advance interest rate
The BMO Preferred Rate Mastercard is well-suited for individuals seeking to minimize interest expenses, particularly those who may carry a balance and benefit from the card's low annual fee and introductory 0% rate on balance transfers. It is a practical option for consumers focused on efficient debt management rather than rewards or bonuses.