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The BMO® Preferred Rate Mastercard® currently has an Informr score of 9.4 out of 10.
This score is based on our evaluation of 5
sources including reviews from users and the web's most trusted critics.
Am I eligible?
BMO® Preferred Rate Mastercard® is typically available to those with
credit scores (650 or greater).
To get this card, you must also:
Be at least 18 years of age (AB, MB, ON, PE, QA, SK). 19 in all other provinces.
Be a permanent or temporary resident of Canada
Have a minimum personal income of $15000.
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...
Thanks 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...
- Borche Stefanov, Offerhub.ca
My 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 o...
- Barry Choi, Money We Have
The BMO Preferred Rate Mastercard has permanently low interest rates so you don’t need to worry when you can’t quite make the full payment on time.
With this card, you get BMO’s preferred interest rate of 11.9%. Credit card lenders typically only allow clients who are in good standing credit-wise to access this rate. And you get this benefit by paying a relatively low fee of $20. Plus, you only need a fair credit score to qualify (in the 575-64...
If you’re in the habit of carrying a balance on your credit card from month to month, a low interest credit card might be the solution to your problems
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