Best BMO credit cards in Canada
Fact Checked: Scott Birke
Updated: May 15, 2024
Find your best BMO credit card by category
Bank of Montreal (BMO) is a highly respected Canadian ‘Big Five’ bank, and offers many beneficial financial products including loans, mortgages, investments and of course—BMO credit cards.
There are BMO credit cards to suit the lifestyles of nearly every cardholder profile, including BMO cards with no annual fee, balance transfer offers, BMO rewards and more. Explore the very best BMO offers below, from a list of BMO credit cards organized by their main category,
Best BMO no annual fee credit card
BMO CashBack® MasterCard®
Get 5% cash back in your first 3 months*
Expires
Jun 1, 2024
3%
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
1%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
0.5%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
3%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
1%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
0.5%
20.99%
Purchase APR
22.99%
Cash Advance APR 21.99% for Quebec residents
$0
Annual Fee
Purchase APR
20.99%
Cash Advance APR
22.99%
Annual Fee
$0
Good
Recommended Credit Score
$15,000
Required Annual Personal Income
Recommended Credit Score
Good
Required Annual Personal Income
$15,000
Pros
-
No Annual Fee: A rare find in Canada for a cash back card
-
A generous 3% cash back on groceries (up to $500 monthly)
-
Easily redeem from $1, set up automatic redemptions, or use as a statement credit
-
Additional perks include discounts on rentals, free supplementary cards and show discounts
Cons
-
Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
-
Monthly caps on top earn rates for groceries and recurring payments
-
A 2% balance transfer fee applies
-
The interest rate on the remaining balance transfer amount increases after the introductory period
3%
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
1%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
0.5%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
Cardholders earn 3% (up to a monthly max of $500) cash back on groceries
3%
Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*
1%
Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*
0.5%
20.99%
Purchase APR
22.99%
Cash Advance APR 21.99% for Quebec residents
$0
Annual Fee
Purchase APR
20.99%
Cash Advance APR
22.99%
Annual Fee
$0
Good
Recommended Credit Score
$15,000
Required Annual Personal Income
Recommended Credit Score
Good
Required Annual Personal Income
$15,000
Pros
-
No Annual Fee: A rare find in Canada for a cash back card
-
A generous 3% cash back on groceries (up to $500 monthly)
-
Easily redeem from $1, set up automatic redemptions, or use as a statement credit
-
Additional perks include discounts on rentals, free supplementary cards and show discounts
Cons
-
Outside of groceries and recurring payments, the standard earn rate drops to 0.5%
-
Monthly caps on top earn rates for groceries and recurring payments
-
A 2% balance transfer fee applies
-
The interest rate on the remaining balance transfer amount increases after the introductory period
Best BMO travel rewards credit card
BMO Ascend™ World Elite®* Mastercard®
Get up to 90,000 points and the annual fee waived in your first anniversary for both the primary cardholder and authorized users.*
Expires
May 31, 2024
5x
5x the points for every $1 spent on eligible travel purchases*
3x
3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
1x
1 point for every $1 spent everywhere else*
5x the points for every $1 spent on eligible travel purchases*
5x
3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
3x
1 point for every $1 spent everywhere else*
1x
20.99%
Purchase APR
23.99%
Balance Transfer Rate 21.99% for Quebec residents
23.99%
Cash Advance APR
$150
Annual Fee
2.50%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$150
Foreign Transaction Fee
2.50%
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
High-value welcome offer
-
Flexible airport lounge access
-
BMO Rewards points can be used to cover flight taxes and fees
-
Great for those who frequently rent cars
-
Good for Costco and No Frills shoppers
Cons
-
So-so earn rates relative to its annual fee
-
Points have low redemption value compared to other travel rewards programs
-
Charges foreign transaction fees
-
Relatively high minimum income requirements
5x
5x the points for every $1 spent on eligible travel purchases*
3x
3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
1x
1 point for every $1 spent everywhere else*
5x the points for every $1 spent on eligible travel purchases*
5x
3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
3x
1 point for every $1 spent everywhere else*
1x
20.99%
Purchase APR
23.99%
Balance Transfer Rate 21.99% for Quebec residents
23.99%
Cash Advance APR
$150
Annual Fee
2.50%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$150
Foreign Transaction Fee
2.50%
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
High-value welcome offer
-
Flexible airport lounge access
-
BMO Rewards points can be used to cover flight taxes and fees
-
Great for those who frequently rent cars
-
Good for Costco and No Frills shoppers
Cons
-
So-so earn rates relative to its annual fee
-
Points have low redemption value compared to other travel rewards programs
-
Charges foreign transaction fees
-
Relatively high minimum income requirements
Best BMO cash back credit card
BMO CashBack® World Elite® Mastercard
Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first anniversary*.
Expires
Nov 30, 2024
5%
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
4%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
3%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
2%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
1%
Everything Else: 1% cash back, unlimited*
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
5%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
4%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
3%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
2%
Everything Else: 1% cash back, unlimited*
1%
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee
2.90%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
Foreign Transaction Fee
2.90%
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
Valuable sign-up bonus
-
High 5% cash back rate on groceries
-
Free roadside assistance
-
Excellent extended warranty and purchase protection terms
Cons
-
Restrictive spending limits for most cash back categories
-
Sign-up bonus structure is head-scratchingly complicated
-
High minimum income requirements
5%
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
4%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
3%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
2%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
1%
Everything Else: 1% cash back, unlimited*
Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*
5%
Transit: 4% cash back up to $300 spent per month ($12 in cash back)*
4%
Gas: 3% cash back up to $300 spent per month ($9 in cash back)*
3%
Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*
2%
Everything Else: 1% cash back, unlimited*
1%
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee
2.90%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
Foreign Transaction Fee
2.90%
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
Valuable sign-up bonus
-
High 5% cash back rate on groceries
-
Free roadside assistance
-
Excellent extended warranty and purchase protection terms
Cons
-
Restrictive spending limits for most cash back categories
-
Sign-up bonus structure is head-scratchingly complicated
-
High minimum income requirements
Best BMO Air Miles credit card
BMO AIR MILES®† World Elite®* MasterCard®*
Get 2,000 AIR MILES Bonus Miles and BMO will waive the $120 annual fee for the first anniversary*.
3x
Cardholders earn an accelerated 3x the Miles per $12 spent at participating AIR MILES partners*,
2x
2x the Miles for every $12 spent at any eligible grocery store*
1x
reward mile for every $12 in credit card purchases, everywhere you spend*
25%
discount on one worldwide AIR MILES flight redemption during the calendar year.*
Cardholders earn an accelerated 3x the Miles per $12 spent at participating AIR MILES partners*,
3x
2x the Miles for every $12 spent at any eligible grocery store*
2x
reward mile for every $12 in credit card purchases, everywhere you spend*
1x
discount on one worldwide AIR MILES flight redemption during the calendar year.*
25%
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
Offers the largest Air Miles sign-up bonus on the market with a waived annual fee for the first anniversary*
-
High earn rates of up to 3x the Miles on eligible purchases
-
Exclusive travel discounts like 25% off one worldwide AIR MILES flight redemption annually
-
Airport lounge access through complimentary Mastercard Travel Pass membership
-
Comprehensive insurance package which covers medical, trip, flight delay, lost luggage and more
-
Additional Perks include Boingo Wi-Fi, BMO Concierge, digital subscriptions, and cash back promotions
Cons
-
An $80,000 personal/$150,000 household income is needed to qualify
-
Ideal for AIR MILES loyalists, may not suit those with a casual approach
-
The fixed redemption value for flights may not appeal to everyone
-
Optimal value only when frequently shopping at AIR MILES partners
3x
Cardholders earn an accelerated 3x the Miles per $12 spent at participating AIR MILES partners*,
2x
2x the Miles for every $12 spent at any eligible grocery store*
1x
reward mile for every $12 in credit card purchases, everywhere you spend*
25%
discount on one worldwide AIR MILES flight redemption during the calendar year.*
Cardholders earn an accelerated 3x the Miles per $12 spent at participating AIR MILES partners*,
3x
2x the Miles for every $12 spent at any eligible grocery store*
2x
reward mile for every $12 in credit card purchases, everywhere you spend*
1x
discount on one worldwide AIR MILES flight redemption during the calendar year.*
25%
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
Offers the largest Air Miles sign-up bonus on the market with a waived annual fee for the first anniversary*
-
High earn rates of up to 3x the Miles on eligible purchases
-
Exclusive travel discounts like 25% off one worldwide AIR MILES flight redemption annually
-
Airport lounge access through complimentary Mastercard Travel Pass membership
-
Comprehensive insurance package which covers medical, trip, flight delay, lost luggage and more
-
Additional Perks include Boingo Wi-Fi, BMO Concierge, digital subscriptions, and cash back promotions
Cons
-
An $80,000 personal/$150,000 household income is needed to qualify
-
Ideal for AIR MILES loyalists, may not suit those with a casual approach
-
The fixed redemption value for flights may not appeal to everyone
-
Optimal value only when frequently shopping at AIR MILES partners
Best BMO balance transfer card
BMO AIR MILES®† MasterCard®*
4.2
800 AIR MILES
Good
Get 800 AIR MILES Bonus Miles!* That’s enough for $80 towards purchases with AIR MILES Cash*
3 miles
Get 3 Miles for every $25 spent with AIR MILES Partners.
2 miles
Get 2x the Miles for every $25 at grocery stores and supermarkets.
4 miles
Double up your Shell Go+ Miles on eligible fuel and in-store purchases.
Get 3 Miles for every $25 spent with AIR MILES Partners.
3 miles
Get 2x the Miles for every $25 at grocery stores and supermarkets.
2 miles
Double up your Shell Go+ Miles on eligible fuel and in-store purchases.
4 miles
20.99%
Purchase APR
22.99%
Balance Transfer Rate 0.99% introductory interest rate for 9 months (fee applies)*
22.99%
Cash Advance APR 21.99% for Quebec residents
$0
Annual Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$0
Good
Recommended Credit Score
$15,000
Required Annual Personal Income
Recommended Credit Score
Good
Required Annual Personal Income
$15,000
3 miles
Get 3 Miles for every $25 spent with AIR MILES Partners.
2 miles
Get 2x the Miles for every $25 at grocery stores and supermarkets.
4 miles
Double up your Shell Go+ Miles on eligible fuel and in-store purchases.
Get 3 Miles for every $25 spent with AIR MILES Partners.
3 miles
Get 2x the Miles for every $25 at grocery stores and supermarkets.
2 miles
Double up your Shell Go+ Miles on eligible fuel and in-store purchases.
4 miles
20.99%
Purchase APR
22.99%
Balance Transfer Rate 0.99% introductory interest rate for 9 months (fee applies)*
22.99%
Cash Advance APR 21.99% for Quebec residents
$0
Annual Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$0
Good
Recommended Credit Score
$15,000
Required Annual Personal Income
Recommended Credit Score
Good
Required Annual Personal Income
$15,000
Best BMO low interest credit card
BMO Preferred Rate Mastercard®*
Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee and BMO will waive the $29 annual fee in your first anniversary*.
0.99%
0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee and BMO will waive the annual fee on your first anniversary.*
0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee and BMO will waive the annual fee on your first anniversary.*
0.99%
13.99%
Purchase APR
0.99%
Balance Transfer Rate 0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee and BMO will waive the annual fee in your first anniversary
15.99%
Cash Advance APR
$29
Annual Fee
Purchase APR
13.99%
Balance Transfer Rate
0.99%
Cash Advance APR
15.99%
Annual Fee
$29
Good
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$0
Required Annual Household Income
$0
Pros
-
Low-interest rate: Offers a competitive purchase interest rate
-
Introductory balance transfer offer for the first nine months
-
First-year annual fee waiver
-
BMO PaySmart™ Installment plans: Turn new credit card purchases into small, interest-free monthly payments with a small fee.
-
Additional cardholder: You can add an additional cardholder for free
Cons
-
No rewards: Your focus is paying down debt, not collecting miles.
-
Foreign transaction fee: Charges a 2.5% fee on foreign transactions.
-
Balance transfer fee: While normal, it’s a bit painful to have to fork over a 2% fee on balance transfers.
0.99%
0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee and BMO will waive the annual fee on your first anniversary.*
0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee and BMO will waive the annual fee on your first anniversary.*
0.99%
13.99%
Purchase APR
0.99%
Balance Transfer Rate 0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee and BMO will waive the annual fee in your first anniversary
15.99%
Cash Advance APR
$29
Annual Fee
Purchase APR
13.99%
Balance Transfer Rate
0.99%
Cash Advance APR
15.99%
Annual Fee
$29
Good
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$0
Required Annual Household Income
$0
Pros
-
Low-interest rate: Offers a competitive purchase interest rate
-
Introductory balance transfer offer for the first nine months
-
First-year annual fee waiver
-
BMO PaySmart™ Installment plans: Turn new credit card purchases into small, interest-free monthly payments with a small fee.
-
Additional cardholder: You can add an additional cardholder for free
Cons
-
No rewards: Your focus is paying down debt, not collecting miles.
-
Foreign transaction fee: Charges a 2.5% fee on foreign transactions.
-
Balance transfer fee: While normal, it’s a bit painful to have to fork over a 2% fee on balance transfers.
Best BMO card for everyday spending
BMO Eclipse Visa Infinite
Get up to 60,000 points worth $400 in travel rewards, a $50 lifestyle credit and the $120 annual fee waived in the first year - that's a $570 value in your first anniversary!*
Expires
May 31, 2024
5x
the points for every $1 spent on groceries, gas, dining in and out and transit.*
10%
Earn 10% more points when you add an authorized user to your account.*
$50
annual lifestyle credit to spend however you want*
the points for every $1 spent on groceries, gas, dining in and out and transit.*
5x
Earn 10% more points when you add an authorized user to your account.*
10%
annual lifestyle credit to spend however you want*
$50
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee One Hundred And Twenty - annual fee waived in the first year
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
Very Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
Pros
-
Excellent welcome offer: Get up to 60,000 points and a $50 lifestyle credit
-
Good earn rate in top spending categories
-
First year annual fee waiver* (Value: $120)
-
Includes new mobile device insurance: Up to $1,000 in coverage**
-
Annual $50 lifestyle credit to spend however you like*
-
Includes comprehensive travel insurance
-
Access to exclusive Visa Infinite benefits
Cons
-
High minimum annual income: Minimum $60,000 (individual) or $100,000 (household)
-
Insurance doesn't include trip cancellation coverage
5x
the points for every $1 spent on groceries, gas, dining in and out and transit.*
10%
Earn 10% more points when you add an authorized user to your account.*
$50
annual lifestyle credit to spend however you want*
the points for every $1 spent on groceries, gas, dining in and out and transit.*
5x
Earn 10% more points when you add an authorized user to your account.*
10%
annual lifestyle credit to spend however you want*
$50
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99% for Quebec residents
$120
Annual Fee One Hundred And Twenty - annual fee waived in the first year
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$120
Very Good
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
Pros
-
Excellent welcome offer: Get up to 60,000 points and a $50 lifestyle credit
-
Good earn rate in top spending categories
-
First year annual fee waiver* (Value: $120)
-
Includes new mobile device insurance: Up to $1,000 in coverage**
-
Annual $50 lifestyle credit to spend however you like*
-
Includes comprehensive travel insurance
-
Access to exclusive Visa Infinite benefits
Cons
-
High minimum annual income: Minimum $60,000 (individual) or $100,000 (household)
-
Insurance doesn't include trip cancellation coverage
Summary: BMO credit card comparison chart
BMO credit card | Best for | Link |
---|---|---|
BMO CashBack® Mastercard® | No annual fee | Apply Now |
BMO Ascend™ World Elite®* Mastercard®* | Travel rewards | Apply Now |
BMO CashBack® World Elite®* Mastercard®* | Cash back | Apply Now |
BMO AIR MILES®† World Elite®* Mastercard®* | AIR MILES | Apply Now |
BMO AIR MILES®† Mastercard®* | Balance transfer | Apply Now |
BMO Preferred Rate Mastercard®* | Low interest | Apply Now |
BMO eclipse Visa Infinite* Card | Everyday spending | Apply Now |
BMO is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information.
Em Norton is a Staff Writer for Money.ca. Em holds a B.A. in Professional Writing from York University and has been writing professionally since 2019. Em's work has previously been published by Room Magazine, IN Magazine, Our Canada and more.
BMO credit cards
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