Am I eligible?
To get this card, you must also:
Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.
What the Critics Are Saying...
- Enoch Omololu, SAVVY New CanadiansLow-interest credit cards are few and far between in Canada. Other than a handful of options, you are stuck with paying at least 19.99% if you do not pay off your balance within the grace period.
- Heidi Unrau, HardbaconIf you pay your credit card balance off in full each month, then move along; nothing to see here. But if you’re stressed about credit card debt or sick of choosing between low-interest or handy card features, you’ve come to the right place. The BMO Preferred Rate Mastercard is a great card for anyon...
- Barry Choi, Money We HaveMy BMO Preferred Rate Mastercard®* review is positive. This card is perfect for those who are looking to eliminate their debt quicker or for those who normally carry a balance on their credit card. The annual fee is waived for the first year and the balance transfer option is great which is why it’s...
- Borche Stefanov, Offerhub.caThanks to its low-interest rates on purchases, cash advances, and balance transfers, this credit card is ideal for people who have various bank accounts and want to transfer their balance to a low-interest rate bank. It is also a great fit for those who are looking for secure purchase protection and...
- Mohamed Konate, My Rate CompassThis card is perfect for people who usually carry a balance and want to save big on interest, and also for people who might have lost their jobs during the COVID-19 crisis. The BMO® Preferred Rate Mastercard®* stands out from the crowd due to the appealing interest rate, which is 7% lower than the m...
Details
| Interest Rates | |
|---|---|
| Regular APR Interest Rate | 13.99% |
| Balance Transfer Interest Rate | 15.99% (0.99% for the first 9 months) |
| Cash Advance Interest Rate | 15.99% |
| Rates & Fees | |
| Annual Fee |
$29.00 Waived on the first year |
| Balance Transfer Fee |
5% Maximum |
| Cash Advance Fee |
$1.00 Minimum of $5 |
| Foreign Transaction Fee |
2.5% Transactions made in a foreign currency will be converted and posted to your account in Canadian currency. |
| Over Limit Fee | $29.00 |
| Late Payment Fee | $0.00 |
| Promotions | |
| Sign up bonus | No |
| Rewards | |
| All Purchases | No |
| Restaurants | No |
| Gas | No |
| Groceries | No |
| Hotels | No |
| Travel | No |
| Pharmacy | No |
| Bills | No |
| Features & Benefits | |
| Additional Card Holders | Yes |
| Travel Accident Insurance | No |
| Car Rental Insurance | No |
| Car Rental Discount | No |
| Extended Warranty | Yes |
| Purchase Protection | Yes |
| Zero Liability | Yes |
| No Foreign Transaction Fees | No |
| Emergency Assistance | No |
| Concierge Service | No |
| Price Protection | No |
| Fraud Protection | Yes |
| Free Credit Scores | No |
| Wireless Payments | Apple Pay |
| Virtual Cards | No |
| Additional Benefits |
15% off admission to Cirque du Soleil shows touring Canada, and 20% off resident shows in Las Vegas |
| Eligibility | |
| Minimum Security Deposit | $0 |
| Minimum Age |
18 years in AB, MB, ON, PE, QA, SK. 19 years in all other provinces. |
| Minimum Personal Income |
$15,000 per year |
| Temporary Residents | No |
| More | |
| Additional comments | - |
| Terms & Conditions | Official Terms & Conditions |
| Suggest a correction |
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