Best BMO credit cards in Canada

The BMO eclipse Visa Infinite Privilege Card might charge a $499 annual fee but it more than makes up for it with its impressive first year value of over $1,500. For starters, there's the welcome bonus;

• 50,000 points when you spend $6,000 in the first 3 months, plus 30,000 points when you spend at least $30,000 in the first 6 months. Receive an additional 40,000 points when you spend at least $75,000 in the first year.

From there, cardholders earn impressive rewards with every purchase:

• Earn 5 BMO Rewards points per $1 spent in essential categories like travel, dining, gas, groceries, and pharmacy*. This bonus applies up to an annual threshold of $50,000.
• Earn 1 BMO Rewards point per $1 spent in these categories after that threshold as been met. Other purchases will earn 1 BMO Rewards point per $1 spent*.

Other impressive features of the eclipse Visa Infinite Privilege include 6 complimentary airport lounge passes through Visa Airport Companion. There's also a $200 lifestyle credit* and robust travel and emergency accident insurance protection.

Disclosures:

• *Terms and conditions apply.
  
  BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

The BMO CashBack^® Mastercard^®* is another handy wallet companion that doesn’t charge an annual fee and still provides high value.  

Cardholders are welcomed with a competitive 5% cash back bonus rate that lasts for their first three months (up to $2,500 in spending for max $125 back)*.

Cash back can be deposited directly into a chequing or savings account, credited to one’s monthly card statement, or invested via the BMO Investorline account.  

As a standard BMO perk, the BMO CashBack® Mastercard®* extends protection against theft and damage to one’s new purchases made with the card*. It will also grant longer warranties on expensive items like electronics (those that already have a manufacturer’s guarantee), which is highly appreciated when something breaks unexpectedly.

All in all, the sum of these benefits makes the BMO card back card a savvy addition to anyone’s wallet.

Disclosures:

• *Terms and conditions apply.
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

The World Elite label means that a credit card is accompanied by extra benefits like total travel and medical protection.

Though the AIR MILES World Elite Card (see below) is a great card for Air Miles devotees, not all Canadians love that rewards program. The BMO Ascend™ World Elite®* Mastercard®* is a good alternative, between all its lucrative introductory bonuses, plus steady BMO points for their everyday spending – which are redeemable on any number of great travel rewards.

Earn 5x the points for every $1 spent on eligible travel purchases*. Earn 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*. Earn 1 point for every $1 spent everywhere else*.

Since it’s a World Elite card, cardholders will also receive complimentary membership in Mastercard Travel Pass provided by DragonPass,* with 4 annual complimentary passes. When added to the up to 90K pts and annual fee waivers, the card’s value to new members is significant.

BMO travel protection features include out-of-country or province medical coverage up to $5,000,000*, plus insurance for rental car collisions as well*. Add in extended warranties and protection for damage and theft on items purchased with the car, and it’s no wonder that applicants will need to show $80,000 or $150,000 in personal or household annual income, respectively, in order to qualify.

Disclosures:

• *Terms and conditions apply.

  BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

  Combining high cashback rates with all the valuable benefits of the World Elite label, the BMO CashBack^® World Elite^®* Mastercard®* is one of the bank’s best. The card has an annual fee of $120 (annual fee waived in the first year*), but the rates at which you can amass cash back outweigh the annual fee by a significant margin. New cardholders start off with a generous welcome bonus (see above). After that the regular cash back earn rates are as follows:  

• Groceries: 5% cash back*, up to $500 spent per month (the highest cash back earn rate on groceries in Canada†; $25 cash back), and then 1% after that*
• Transit: 4% cash back*, up to $300 spent per month ($12 cash back), and then 1% after that*
• Gas and electric vehicle charging: 3% cash back*, up to $300 spent per month ($9 cash back), and then 1% after that*
• Recurring bills: 2% cash back*, up to $500 spent per month ($10 cash back), and then 1% after that*
• Everything else: 1% cash back (unlimited)*

  However, as a World Elite card, the benefits don’t end there. BMO provides 8 days of out-of-province and country medical insurance coverage for up to $2,000,000, plus damage and collision coverage for rental cars*. Purchases made with the card are protected from damage and theft through the first 180 days after purchase*, and any item that has an original manufacturer’s warranty can get it extended by up to two additional years—this is among the best purchase protection and extended warranty coverage in Canada.  

Disclosures:

• *Terms and conditions apply.
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

BMO bought the Air Miles program in July, 2023 and can therefore offer the best Air Miles cards in Canada. They demonstrate this handily with their BMO AIR MILES^®† World Elite^®* Mastercard^®*, which gives new cardholders 3,000 miles and a $120 annual fee waiver for the first anniversary*.  

Cardholders earn air miles at a fast rate of 1 per $12 spent*, which can be redeemed on excellent travel rewards and airfare anywhere in the world. Spending at Air Miles partner stores will earn at an even faster rate of 3 Miles per $1 spent*.

Get 2x the Miles for every $12 spent at any eligible grocery store*. Another notable perk of the BMO AIR MILES®† World Elite®* Mastercard®* is that it includes complimentary membership in Mastercard Travel Pass provided by DragonPass.*

The card’s advantages also include comprehensive travel and medical insurance*, with 15 consecutive days of out-of-province coverage for up to $5,000,000. A standard BMO benefit is the addition of purchase protection and extended warranties on items purchased with the AIR MILES World Elite card.

Disclosures:

• *Terms and conditions apply
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
  
  
  

Though it isn’t primarily known as a balance transfer card, the BMO AIR MILES®† MasterCard®* does provide this option to new cardholders who want to consolidate their credit card debt, pay it off, and earn Air Miles on their everyday purchases.

Those who transfer an outstanding balance from another credit card or bank (outside of BMO) will get 0.99% introductory interest rate for 9 months (fee applies)* (2% fee applies to balance amount transferred)*. Few strategies are as effective for reducing compounding interest charges. The card helps those who want to earn Air Miles quickly and reduce their travel expenses.

At Air Miles sponsors like Sobeys, cardholders will earn 3x the Miles for every $25 spent at participating AIR MILES Partners*. Earn 2x the Miles for every $25 spent at any eligible wholesale clubs, membership-based retailers and alcohol retailers* and 1x the Mile for every $25 that you spend with your credit card everywhere else.

With $0 spent on its annual fee (and $0 for supplementary card).

It’s easy to sign up supplementary cardholders. Extend them the benefits above, but there’s also car rental discounts* alongside purchase protections including extended warranties and damage coverage*.

Disclosures:

• Limited time offer: Get 1,500 AIR MILES Bonus Miles!* That’s enough for $150 towards purchases with AIR MILES Cash*
• *Terms and conditions apply
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

For people who routinely carry part of their outstanding balance from month to month, interest charges are a constant concern. Saving money is more about reducing interest, in this case, then it is earning cash back or rewards.

BMO offers a pertinent solution with their BMO Preferred Rate MasterCard®*, which can immediately help applicants transfer their balances and then pay 0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee and BMO will waive the annual fee on your first anniversary.* (2% transfer fee applies)*. With most cards charging interest at 20% or more, this alone can put money right back into your pocket.

Even without the promotional balance transfer rate, BMO keeps interest on purchases and cash advances at a competitive 13.99% and 15.99% respectively.

Standard among BMO cards is complimentary damage and theft protection for new items bought with the Preferred Rate card, plus extended manufacturers’ warranties by up to 1 more year*. These benefits are all available to cardholders for the low annual fee of $29 (waived on the first anniversary when you opt for the introductory balance transfer offer*).

Disclosures:

• *Terms and conditions apply

• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information

With the BMO eclipse Visa Infinite* Card, you can earn on dining, groceries, gas, and transit. The minimum annual individual income for this card is $60,000 and for a household it is $100,000. This makes it a great option for anyone out there building their career, and looking to boost their credit.

When you sign up you can earn a welcome bonus.

This credit card is an awesome option for hustling millennials building wealth and looking to earn perks along the way. For those of you that are busy, this credit card helps you earn while you spend.

Disclosures:

• *Terms and conditions apply.
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

Here's your step-by-step guide to snagging that shiny new BMO credit card faster than you can say "double-double":

1. 1.

   Eligibility check: Make sure you're 18+ (19+ in some provinces) and a Canadian resident. No need for a maple syrup blood test, though!

2. 2.

   Credit check: Take a quick look at your credit score. It doesn't need to be perfect, but the higher it is, the better your chances. Think of it as your financial report card.

3. 3.

   Card shopping: Compare the best BMO cards. From cash back to travel rewards, they've got more flavors than an ice cream shop!

4. 4.

   Application: Found your perfect plastic match? Hit that "Apply Now" button. It's like swiping right, but for your wallet.

5. 5.

   Info required: Fill out the application form. They'll ask for basics like your name, address, and income. Pro tip: Have your SIN ready – they'll need it to check your credit.

6. 6.

   If successful, activate: When your card arrives, give BMO a quick call or hop online to activate it. It's like waking up Sleeping Beauty, but for your finances.

7. 7.

   Start swiping: Congratulations! You're now officially part of the BMO credit card crew. Use it wisely, rack up those rewards, and watch your financial progress soar!

Remember, getting a credit card is like adopting a pet – it comes with responsibilities. Use it wisely, pay it off regularly, and it'll be your new best friend in your journey to financial awesomeness!

BMO offers a variety of credit cards, including Mastercard options, which are widely accepted at merchants around the world. When you use your BMO credit card, interest is charged on any unpaid balance that remains after the due date each month. The interest rate you'll pay varies depending on the specific card you have and the type of transaction.

Typically, BMO credit card interest rates are competitive for purchases, with rates potentially higher for cash advances and balance transfers. Some premium cards may have higher rates, while basic cards might offer lower rates.

To make the most of BMO's rewards and benefits programs, you'll need to meet certain criteria, such as minimum spending requirements or maximum reward caps, depending on the card. These programs can include cash back, travel rewards, or points that can be redeemed for various goods and services.

BMO offers cards tailored to different financial situations and needs. Your eligibility for specific cards will depend on factors such as your credit score, income, and overall financial profile. To find the best BMO credit card for your situation, it's recommended to review the features, benefits, and requirements of each available card. This approach will help you identify the card that not only suits your needs but also aligns with your qualification criteria, maximizing your chances of approval and satisfaction with your chosen card.

BMO offers a variety of reward types with its credit cards. These options include AIR MILES, BMO Rewards, and cash back. 

1. 1.

   BMO Rewards: BMO Rewards is available to eligible BMO credit cardholders, including those with BMO Ascend and BMO eclipse cards. The program allows cardholders to earn points that can be redeemed for various rewards such as deposits into BMO deposit and investing accounts, shopping with eligible partners, travel, and charitable donations.

2. 2.

   AIR MILES: AIR MILES is one of the most popular loyalty programs in Canada, with over 10 million active collector accounts across the country. BMO is the exclusive credit card partner of AIR MILES.

3. 3.

   Cash back: BMO also offers a number of exceptional cash back credit cards, including the BMO CashBack® Mastercard® (best no annual fee card, Money.ca Credit Card Awards) and BMO CashBack® World Elite®* Mastercard®* (best cash back).