BMO Preferred Rate Mastercard
MASTERCARDLow interest for carrying a balance
BMO Preferred Rate Mastercard
6.5Canada Cards ScoreGoodGet a 0% introductory interest rate on Balance Transfers for 18 months
Why get this card
- ✓Low 13.99% purchase rate
Pros
- +Low 13.99% purchase interest rate
Cons
- -$29 annual fee
- -No published earn rate
Earn rates
No earn rates captured.
Welcome offer
Get a 0% introductory interest rate on Balance Transfers for 18 months
- Bonus points
- —
- Minimum spend
- —
- Spend window
- —
- Offer ends
- —
with a 2% transfer fee and we’ll waive the $29 annual fee for the first year.
Fees
- Annual fee
- $29
- Additional card
- —
- Foreign transaction fee
- —
Interest rates
- Purchase APR
- 13.99%
- Cash advance APR
- 15.99%
- Balance transfer APR
- —
- Grace period
- —
- Rate effective date
- —
Benefits & insurance
- Lounge access
- —
- Insurance coverages
- 3
- Extended Warranty Insurance
- Purchase Security Insurance
- Credit Card Balance Protection
Redemption & eligibility
- Reward currency
- —
- Redemption options
- —
- Transfer partners
- —
- Min. personal income
- —
- Min. household income
- —
You must meet minimum income requirements, be a Canadian citizen or permanent resident, and not have declared bankruptcy in the past seven years.
How we scored it
6.5Good- Everyday earn rateWeight 30
No published earn rate
- Welcome valueWeight 25
No current welcome offer
- Annual-fee valueWeight 20
$29 annual fee
- Benefits depthWeight 15
3 insurance coverages
- Interest costWeight 10
13.99% purchase APR
Our editorial rating, computed only from sourced figures. See the full methodology.
Compare with similar cards
Learn before you apply
Frequently asked
- Is the BMO Preferred Rate Mastercard worth it?
- It carries a $29 annual fee. Low 13.99% purchase rate. Compare it against similar cards below before deciding.
- What is the annual fee and interest rate on the BMO Preferred Rate Mastercard?
- The annual fee is $29. The purchase interest rate is 13.99% and the cash advance rate is 15.99%. These are sourced from BMO's official page.
- What rewards does the BMO Preferred Rate Mastercard earn?
- This card does not focus on rewards; see its fees and rates above.
More ways to compare
Official sources
Every figure on this page comes from BMO's own pages. Last checked 2026-06-13.
Cited, never sponsored
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