BMO No Annual Fee Credit Cards
No annual fee, earn up to 5% cashback, intro rate 0.99% for 9 months on balance transfers. Flexible redemption and no annual cost make it ideal.
If you are looking for a credit card that keeps costs at zero while offering cashback or reward points, BMO’s no annual fee options are appealing. For example, the BMO CashBack Mastercard lets you earn up to 5% cash back on your first three months, which is a generous initial offer compared to other no-fee cards. Purchases have a standard 21.99% interest rate, all with zero annual fee, making it a great pick for Canadians who don’t want to pay just to carry a card.
Application Steps
- Check if you meet the credit criteria, such as age and residency requirements.
- Gather your personal and financial information (ID, employment details).
- Apply online through the BMO portal for a quick approval decision.
- If approved, activate your card and set up online banking for easy management.
Pros of BMO No Annual Fee Cards
No annual fee means you save year after year while still enjoying rewards or cashback on everyday purchases. Flexible rewards redemption is a big plus since you can take cash, invest, or use points for travel, giving real options on how to benefit. The introductory interest rate on balance transfers, at 0.99% for 9 months, helps save money if you’re moving balances from other higher-rate cards.
Cons of BMO No Annual Fee Cards
While BMO’s cashback rates are competitive for no-fee cards, the standard purchase interest rate is 21.99%, which can add up if you carry a balance. Cashback bonuses drop after the intro period, and there may be limited insurance perks compared to premium cards with annual fees.
Final Verdict
If you want to maximize everyday rewards or cashback and keep annual costs at zero, BMO’s no annual fee credit cards are a solid choice. They offer flexibility, value, and ease without hidden surprises for Canadian consumers.
