BMO Rewards Credit Cards
Competitive welcome bonuses, earn points on everyday purchases, options with no annual fee and premium perks for frequent travellers. Interest rates as low as 0.99% intro for balance transfers.
BMO Rewards Credit Cards offer a suite of options for Canadians looking to get more value from their credit card spending. From no annual fee cards to premium travel cards, there is a BMO Rewards card for every type of spender.
Each BMO Rewards card has specific benefits. For example, the BMO eclipse rise Visa Card comes with a $0 annual fee and a 0.99% intro rate on balance transfers for nine months. For those with higher spending, the BMO eclipse Visa Infinite sees up to $1,150 in value and no annual fee in the first year.
Higher-tier options like the BMO Ascend World Elite Mastercard offer up to $1,600 in value, fee waived for the first year, and a longer introductory 0% balance transfer period. These cards also usually require a certain minimum income to qualify. Standard purchase interest is 21.99% and cash advance rate is 23.99% (or 21.99% for Quebec residents).
How to Apply for a BMO Rewards Credit Card
1. Determine your eligibility by checking the card’s minimum income or spend requirement.
2. Gather your government ID and personal income information.
3. Complete the card application form online.
4. Wait for approval, usually within minutes for most applicants.
5. Activate and start using your card to earn rewards points.
Pros of BMO Rewards Credit Cards
One main advantage is the variety of cards available for different budgets and lifestyles, including both no-fee and premium cards. Welcome bonuses and balance transfer promotions help new users save on interest and earn rewards faster.
Cardholders can redeem points for travel, merchandise, or even investment contributions, providing flexible options to maximize the value of earned rewards.
Cons of BMO Rewards Credit Cards
Higher-tier cards require significant annual individual or household income, which can be a barrier for some applicants. Standard interest rates are typical for major Canadian credit cards but could be costly if you carry a balance.
Additionally, some premium cards have high annual fees after the first year, so the benefits must outweigh the cost for the card to be worthwhile long-term.
Final Verdict
BMO Rewards Credit Cards are strong contenders for Canadians who want flexible rewards, competitive bonuses, and both entry-level and premium options. Carefully consider your spending habits and the card’s features before applying to get the best match for your goals.
