- No rewards breakdown available
Get a 0% introductory interest rate on Balance Transfers for 18 months with a 2% transfer fee and we'll waive the $29 annual fee for the first year.
The BMO Preferred Rate Mastercard does not offer rewards or cash back points, as it is designed specifically as a low-interest card.
The BMO Preferred Rate Mastercard stands out as the top choice because it offers a low ongoing purchase interest rate and a significant introductory offer for balance transfers, making it ideal for those looking to consolidate debt.
Pros:
- Low ongoing purchase interest rate
- 0% introductory rate on balance transfers for 18 months
Cons:
- Annual fee of CA$29 after the first year
- No rewards program
The BMO Preferred Rate Mastercard is best suited for individuals seeking a low ongoing interest rate on purchases and those looking to consolidate debt through a competitive introductory balance transfer offer. However, potential users should note that it does not offer rewards or a welcome bonus, which may be a consideration for those prioritizing rewards programs.