New cardmembers can earn 0% balance transfer rate for 18 months and first-year annual fee waiver, worth roughly $29, by completing the steps below.
How to earn it
0% introductory interest rate on balance transfersComplete eligible balance transfers within the promotional period. Introductory rate applies for 18 months from account opening.
First-year annual fee waiverOpen a new account and receive a waiver of the $29 annual fee for the first year.
2% balance transfer feeA one-time balance transfer fee of 2% applies to transferred balances.
Available to new BMO Preferred Rate Mastercard cardholders who meet the offer requirements. Existing cardholders and previous holders of this card may not be eligible. Terms and conditions apply.
How you earn
0% introductory interest rate on balance transfers for 18 months
13.99% interest rate on purchases
15.99% interest rate on cash advances
Low annual fee of $29
Save the annual fee every year when paired with an eligible BMO Performance Chequing Account
No points, cashback, or travel rewards program
Designed for cardholders focused on minimizing interest costs rather than earning rewards
Built-in perks & coverage
Extended Warranty Insurance
Doubles the original manufacturer's warranty period on eligible purchases for up to one additional year when the full purchase price is charged to the card.
Purchase Security Insurance
Eligible purchases made with the card are protected against theft, loss, or accidental damage for 90 days from the purchase date.
24/7 Mastercard Assistance
Access emergency assistance services 24 hours a day, 7 days a week while travelling.
Zero Liability Protection
Protection against unauthorized purchases made with your card when fraud occurs.
Mastercard Identity Check
Additional online shopping security through Mastercard's authentication and fraud prevention service.
BMO Alerts
Receive customizable alerts for purchases, large transactions, international usage, and account activity.
Car Rental Discounts
Save up to 30% on eligible Avis rentals and up to 35% on eligible Budget rentals when booking with the card.
Free Additional Cardholder
Add an authorized user to the account at no additional annual fee.
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Optional Roadside Assistance
Eligible cardholders can purchase optional roadside assistance coverage.
BMO PaySmart Installment Plans
Convert eligible purchases into fixed monthly installment payments through BMO PaySmart.
Credit Score Access
Free access to BMO Credit Coach, allowing cardholders to monitor their credit score with no impact on their credit file.
Digital Card Management
Lock and unlock your card, report it lost or stolen, and manage account settings through BMO Digital Banking.
The verdict
What we like
Low interest rates
Excellent balance transfer promotion
Low annual fee
First-year annual fee waiver
Purchase security and extended warranty coverage
No minimum income requirement
Worth noting
Annual fee
No rewards program
Lacks significant travel benefits
Limited insurance coverage
Foreign transaction fees apply
Few premium cardholder perks
Issuer terms apply. ClearFin is not affiliated with this provider. How we make money.
