Rated by the CreditCardGuru Editorial Team
A straightforward low-interest workhorse: the 13.99% purchase rate and 0.99% intro balance transfer can save far more in interest than any rewards card would earn back.
| No rewards earned on purchases | 0% |
Welcome offer: Up to $29 cash back ($29 annual fee waived in the first year plus a 0.99% introductory interest rate on balance transfers for 9 months).
First year waived.
Rates and offers change. Every rate, fee, welcome offer and benefit on this page was accurate when last reviewed, but BMO can change or withdraw any of them at any time — sometimes without notice. Confirm the current terms on BMO's own website before you apply.
Eligibility is theirs to decide. Approval, credit limits, interest rates and welcome offers depend on your credit history and BMO's own criteria. Bonuses often exclude anyone who has held the card before, and usually require a minimum spend within a set period.
This is not advice. The reviews and ratings here are our editorial opinion, not financial, tax or legal advice, and not a recommendation for your circumstances. Speak to a qualified professional before making a financial decision.
How we make money. CreditCardGuru may earn a commission when you apply through links on this page. It never affects our ratings or what we write — see our advertiser disclosure and rating methodology.
CreditCardGuru is not affiliated with BMO. Trademarks belong to their respective owners.
Written by
CreditCardGuru Editorial Team
Rewards & Cards Research
Our editorial team independently researches and rates every credit card in Canada using a transparent, data-driven methodology. We update card terms continuously and never let issuer relationships influence our ratings.
Cite this page
“BMO Preferred Rate Mastercard Review (2026)” — CreditCardGuru, https://creditcardguru.ca/cards/bmo-preferred-rate-mastercard, updated June 7, 2026.
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