Back

BMO Preferred Rate Mastercard®*  🇨🇦

BMO PrefRate Mastercard RGB – for online
Apply Now
BMO Preferred Rate Mastercard®*  🇨🇦
Welcome Bonus
Get 0.99% interest for up to 9 months on balance transfers
Annual Fee
$29
First Year Annual Fee Rebate (terms apply)
  • Low-interest
  • Balance Transfer
  • Accepted at Costco
Interest rates
Purchase Rates
13.99 %
Cash Advance Rates
15.99 %
Balance Transfer Rates
15.99 %
See all cards from BMO
BMO PrefRate Mastercard RGB – for online
BMO Preferred Rate Mastercard®*
Get 0.99% interest for up to 9 months on balance transfers
Apply Now

Offer

  • Welcome offer: Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee* and we’ll waive the $29 annual fee for the first year.*
  • Enjoy our lowest interest rate of 13.99% on purchases*
  • Purchase Protection and Extended Warranty*

Fees & Conditions

Personal Income $0
Household Income $0
Annual Fee $29
First Year Annual Fee Rebate
First Additional Card $0
Foreign Transaction Fee 2.5%
Purchase Rates 13.99%
Cash Advance Rates 15.99%
Balance Transfer Rates 15.99%
Balance Transfer
Balance Transfer Intro Duration 9 month(s)
Balance Transfer - Promotional Rate 0.99%
Balance Transfer Fees 2 %

Advantages

Costco

Insurance

Travel Insurance

Insurance Name
Included
Amount
Duration
Travel Medical Insurance
Travel medical insurance up to 54 years old
Travel medical insurance up to 64 years old
Travel medical insurance 65+
Trip Cancellation Insurance
Trip Interruption Insurance
Common Carrier Travel Accident Insurance
Flight Delay Insurance
Delayed Baggage Insurance
Lost/Stolen Baggage Insurance
Auto Rental Loss/Insurance
Hotel/Motel Burglary Insurance

There may be a daily maximum amount depending on the type of fees paid

Other Insurance

Insurance Name
Included
Amount
Duration
Extended Warranty
1 year
Purchase Protection
90 day(s)
Mobile Device Insurance
Price Protection

Our review

The BMO Preferred Rate Mastercard is a Bank of Montreal credit card that offers:

  • 0.99% introductory interest rate on Balance Transfers for 9 months
  • First-year annual fee waiver

There is no minimum income requirement for this BMO credit card.

You can use this low-interest credit card at Costco because it is a Mastercard credit card.

Finally, you’ll receive insurance on purchases charged to your BMO Preferred Rate Mastercard.

Milesopedia Links

Frequently Asked Questions

Alternative Cards

CIBC Select Visa front en
CIBC Select Visa* Card  🇨🇦
Get 0% interest for up to 10 months†
First year value : $29
Best of April 2024
  • Digital Exclusive Offer
  • Balance Transfer Offer
  • Low-interest
Apply Now
Learn More
Best balance transfer credit card in 2024

Transfer your credit card balance – Get 0% interest for up to 10 months with a 1% transfer fee† and a first year annual fee rebate†

Check full offer details below†

Transfer your credit card balance and get 0% interest for up to 10 months with a 1% transfer fee†
  • Transfer up to 50% of your assigned credit limit†
  • If you choose to carry a balance and you make your minimum payments on time, a balance transfer could save you money on interest
  • Take advantage of this 0% introductory interest rate on balance transfers for your first 10 months. You’ll only have to pay a 1% fee† when you transfer your balance from another card to the CIBC Select Visa Card
  • This balance transfer offer is only available at the time of your online application.† Simply tick the checkbox to select the balance transfer option when you’re filling out your application

Once you take advantage of this offer, you will have a promotional rate balance on your account. As a result, you will lose your interest-free grace period on new purchases unless you pay your amount due, including any promotional rate balances, in full each month. While you will enjoy the promotional rate on the balances you transfer by using this offer, new purchases will be subject to the purchase interest rate.

Save on gas with CIBC and Journie Rewards

Link and use your CIBC Select Visa Card with Journie Rewards to save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†

This is a digital-exclusive offer.† To be eligible for this offer, you must apply for a new eligible card using the “Apply Now” link available on this webpage.†

Legal

† Terms and Conditions apply

Annual Fee
  • Primary card $29
  • Additional card $0
Annual Income Required
  • Individual $0
  • Household $15,000
Conversion fees
  • 2.5 %
Interest Rates
  • Purchase Rates 13.99 %
  • Cash Advance Rates 13.99 %
  • Balance Transfer Rates 13.99 %
Milesopedia Links
Value
  • Year 1 $29
  • Year 2+ $-29
Best For

Advantages

  • Annual Credit
  • VIP Lounges
  • Concierge
  • Wifi
  • Travel credit

Travel Insurance

Insurance Name
Included
Amount
Duration
Travel Medical Insurance
Travel medical insurance up to 54 years old
Travel medical insurance up to 64 years old
Travel medical insurance 65+
Trip Cancellation Insurance
Trip Interruption Insurance
Common Carrier Travel Accident Insurance
Flight Delay Insurance
Delayed Baggage Insurance
Lost/Stolen Baggage Insurance
Auto Rental Loss/Insurance
Hotel/Motel Burglary Insurance
Scotia Value En
Scotiabank Value® Visa* Card  🇨🇦
0% introductory interest rate on Balance Transfers for the first 10 months
Ends Oct 31, 2024
  • Low-interest on cash advances
  • Low-interest
Apply Now
Learn More
  • 0% introductory interest rate on Balance Transfers for the first 10 months (12.99% after that; annual fee $29). Plus no annual fee in the first year. Offer ends 31 Oct 2024.
  • Save up to hundreds of dollars a year on interest
  • Low interest rate of 12.99%
  • Pay down higher interest rate balances faster
  • Transfer higher rate balances and save even more
Legal

*Conditions apply.

Annual Fee
  • Primary card $29
  • Additional card $0
Annual Income Required
  • Individual $12,000
  • Household $12,000
Conversion fees
  • 2.5 %
Interest Rates
  • Purchase Rates 12.99 %
  • Cash Advance Rates 12.99 %
  • Balance Transfer Rates 12.99 %
Milesopedia Links
Value
  • Year 1 $0
  • Year 2+ $-29
Best For

Advantages

  • Annual Credit
  • VIP Lounges
  • Concierge
  • Wifi
  • Travel credit

Travel Insurance

Insurance Name
Included
Amount
Duration
Travel Medical Insurance
Travel medical insurance up to 54 years old
Travel medical insurance up to 64 years old
Travel medical insurance 65+
Trip Cancellation Insurance
Trip Interruption Insurance
Common Carrier Travel Accident Insurance
Flight Delay Insurance
Delayed Baggage Insurance
Lost/Stolen Baggage Insurance
Auto Rental Loss/Insurance
Hotel/Motel Burglary Insurance
3.5 Milesopedia Rating