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Fact Checked: Scott Birke

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Updated: January 12, 2024

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Best BMO credit cards

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware this post may contain links to products from our partners. We may receive a commission for products or services you sign up for through partner links.

Fact Checked: Scott Birke

šŸ—“ļø

Updated: January 12, 2024

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware that some (or all) products and services linked in this article are from our sponsors.

Find your best BMO credit card by category

Bank of Montreal (BMO) is a highly respected Canadian ā€˜Big Fiveā€™ bank, and offers many beneficial financial products including loans, mortgages, investments and of courseā€”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 CashBackĀ® MastercardĀ®*

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 and 0.5% (no monthly max) on all other eligible purchases

0.5% Cardholders can earn 0.5% (no monthly max) on all other eligible purchases

20.99% Purchase APR

22.99% Cash Advance APR

$0 Annual Fee

Fair Recommended Credit Score

$15,000 Required Annual Personal Income

Welcome Offer Ends May 31, 2024

Get 5% cash back in your first 3 months and 0.99% on balance transfers for 9 months

Learn more
  • Why we chose the BMO CashBackĀ® MastercardĀ®*

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    The BMO CashBackĀ® MastercardĀ®* is another handy wallet companion that doesnā€™t charge an annual fee and still provides high value. Cardholders are welcomed with a competitive 5% cashback bonus rate that lasts for their first three months (up to $2,500 in spending for max $125 back)*, which returns to the rate of 0.5-3% on all their purchases depending on category after the promotional period*. In addition, get $50 cash back if you spend $6,000 in your first year*. Cash back can be deposited directly into a chequing or savings account, credited to oneā€™s monthly card statement, or invested via the BMO Investorline account. As a standard BMO perk, the BMO CashBackĀ® MastercardĀ®* extends protection against theft and damage to oneā€™s new purchases made with the card*. It will also grant longer warranties on expensive items like electronics (those that already have a manufacturerā€™s guarantee), which is highly appreciated when something breaks unexpectedly. All in all, the sum of these benefits makes the card a savvy addition to anyoneā€™s wallet.

    *Terms and conditions apply.

    Learn more by reading our complete BMO CashBackĀ® MastercardĀ®* review.

Best BMO travel rewards credit card

The BMO Ascendā„¢ World EliteĀ®* MastercardĀ®*

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*

20.99% Purchase APR

23.99% Balance Transfer Rate

23.99% Cash Advance APR

$150 Annual Fee

2.50% Foreign Transaction Fee

Good Recommended Credit Score

Welcome Offer Ends May 31, 2024

Get up to 60,000 points and the annual fee waived in the first year

Learn more
  • Why we chose the BMO Ascendā„¢ World EliteĀ®* MastercardĀ®*

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    The World Elite label means that a credit card is accompanied by extra benefits like total travel and medical protection. Though the AIR MILES World Elite Card (see below) is a great card for Air Miles devotees, not all Canadians love that rewards program. The BMO Ascendā„¢ World EliteĀ®* MastercardĀ®* is a good alternative, with cardholders able to earn up to $762* between all its lucrative introductory bonuses, plus steady BMO points for their everyday spending ā€“ which are redeemable on any number of great travel rewards.

    Cardholders will earn 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* 1 point for every $1 spent everywhere else.*. Since itā€™s a World Elite card, cardholders will also receive complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passesā€”a $128 USD value. When added to the 60,000-point bonus* and annual fee waivers, the cardā€™s value to new members is up to $762*.

    BMO travel protection features include out-of-country or province medical coverage up to $2 million*, plus insurance for rental car collisions as well*. Add in extended warranties and protection for damage and theft on items purchased with the car, and itā€™s no wonder that applicants will need to show $80,000 or $150,000 in personal or household annual income, respectively, in order to qualify.

    *Terms and conditions apply

    Learn more by reading our complete BMO Ascendā„¢ World EliteĀ®* MastercardĀ®* review

Best BMO cash back credit card

BMO CashBackĀ® World EliteĀ®* MastercardĀ®*

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*

20.99% Purchase APR

23.99% Balance Transfer Rate

23.99% Cash Advance APR

$120 Annual Fee

2.90% Foreign Transaction Fee

Good Recommended Credit Score

Welcome Offer

Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.5

Learn more
  • Why we chose the BMO CashBackĀ® World EliteĀ®* MastercardĀ®*

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    Combining high cashback rates with all the valuable benefits of the World Elite label, the BMO CashBackĀ® World EliteĀ®* MastercardĀ®* is one of the bankā€™s best. The card has an annual fee of $120 (waived in first year)*, but the rates at which you can amass cash back outweigh the annual fee by a significant margin. New cardholders start off with a generous welcome bonus (see above). After that the regular cash back earn rates are as follows:

    ā€¢ Groceries: 5% cash back*, up to $500 spent per month (the highest cash back earn rate on groceries in Canadaā€ ; $25 cash back), and then 1% after that*

    ā€¢ Transit: 4% cash back*, up to $300 spent per month ($12 cash back), and then 1% after that*

    ā€¢ Gas and electric vehicle charging: 3% cash back*, up to $300 spent per month ($9 cash back), and then 1% after that*

    ā€¢ Recurring bills: 2% cash back*, up to $500 spent per month ($10 cash back), and then 1% after that*

    ā€¢ Everything else: 1% cash back (unlimited)*

    However, as a World Elite card, the benefits donā€™t end there. BMO provides eight days of out-of-province and country medical insurance coverage for up to $2 million, plus damage and collision coverage for rental cars*. Purchases made with the card are protected from damage and theft through the first 180 days after purchase*, and any item that has an original manufacturerā€™s warranty can get it extended by up to two additional yearsā€”this is among the best purchase protection and extended warranty coverage in Canada.

    *Terms and conditions apply

    ā€ Statement based on a comparison of the non-promotional grocery rewards earn rate on Canadian cash back credit cards as of Jan. 4, 2023.

    Learn more by reading our complete BMO CashBackĀ® World EliteĀ®* MastercardĀ®* review.

Best BMO Air Miles credit card

BMO AIR MILESĀ®ā€  World EliteĀ®* MastercardĀ®*

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* and a flat 1 Mile for every $12 in credit card purchases at all other merchants*. O

20.99% Purchase APR

23.99% Balance Transfer Rate

23.99% Cash Advance APR

$120 Annual Fee

Good Recommended Credit Score

$80,000 Required Annual Personal Income

Welcome Offer

Get 2,000 AIR MILES Bonus Miles!

Learn more
  • Why we chose the BMO AIR MILESĀ®ā€  World EliteĀ®* MastercardĀ®*

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    BMO bought the Air Miles program in July, 2023 and can therefore offer the best Air Miles cards in Canada. They demonstrate this handily with their BMO AIR MILESĀ®ā€  World EliteĀ®* MastercardĀ®*, which gives new cardholders who spend $3,000 in the first three months a bonus of 2,000 Air Miles and a $120 annual fee waiver in the first year*. Cardholders earn air miles at a fast rate of 1 per $12 spent*, which can be redeemed on excellent travel rewards and airfare anywhere in the world. Spending at Air Miles partner stores will earn at an even faster rate of 3 Miles per $1 spent*. Get 2x the Miles for every $12 spent at any eligible grocery store*. Those who spend $4,000 per month on the card will earn at least 6,000 Air Miles in their first year. Thatā€™s already enough for a flight from Montreal all the way to Paris. Another notable perk of the BMO AIR MILESĀ®ā€  World EliteĀ®* MastercardĀ®* is that it includes complimentary membership in Mastercard Travel Pass provided by DragonPass.* The cardā€™s advantages also include comprehensive travel and medical insurance*, with 15 consecutive days of out-of-province coverage for up to $2 million. A standard BMO benefit is the addition of purchase protection and extended warranties on items purchased with the AIR MILES World Elite card.

    *Terms and conditions apply

    Learn more by reading our complete BMO AIR MILESĀ®ā€  World EliteĀ®* MastercardĀ®* review.

Best BMO balance transfer card

BMO AIR MILESĀ®ā€  MastercardĀ®*

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.

20.99% Purchase APR

22.99% Balance Transfer Rate 0.99% for first 9 months

22.99% Cash Advance APR

$0 Annual Fee

Fair Recommended Credit Score

$15,000 Required Annual Personal Income

Welcome Offer

Get 800 AIR MILES Bonus Miles and a 0.99% introductory interest rate on balance transfers for 9 months (2% fee applies)

Learn more
  • Why we chose the BMO AIR MILESĀ®ā€  MastercardĀ®*

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    Though it isnā€™t primarily known as a balance transfer card, the BMO AIR MILESĀ®ā€  MasterCardĀ®* does provide this option to new cardholders who want to consolidate their credit card debt, pay it off, and earn Air Miles on their everyday purchases. Those who transfer an outstanding balance from another credit card or bank (outside of BMO) will pay just 0.99% interest on this amount for nine months (2% fee applies to balance amount transferred)*. Few strategies are as effective for reducing compounding interest charges. The card helps those who want to earn Air Miles quickly and reduce their travel expenses.

    At Air Miles sponsors like Sobeys, cardholders will earn 3x the Miles for every $25 spent at participating AIR MILES Partners*. Get 2x the Miles for every $25 spent at any eligible grocery store*, and 1 Air Mile per $25 elsewhere*. With $0 spent on annual fee, if you manage to spend just $1,000 per month on the card, youā€™ll earn up to 1,280 Air Miles in the first year when you include the Welcome Offer bonus. This is the equivalent value of a round-trip flight from Montreal to Toronto. Finally, itā€™s easy and free to sign up supplementary cardholders. Extend them the benefits above, but thereā€™s also car rental discounts* alongside purchase protections including extended warranties and damage coverage*.

    *Terms and conditions apply

    Learn more by reading our complete BMO AIR MILESĀ®ā€  MastercardĀ®* review.

Best BMO low interest credit card

BMO Preferred Rate MastercardĀ®*

0.99% 0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee and a first year annual fee waiver

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 waive the first year annual fee

15.99% Cash Advance APR

2.00% Balance Transfer Fee

$29 Annual Fee Waived with balance transfer offer or BMO Performance chequing account

Good Recommended Credit Score

Welcome Offer

Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee5 and BMO will waive the $29 annual fee for the first year.6

Learn more
  • Why we chose the BMO Preferred Rate MastercardĀ®*

    +

    For people who routinely carry part of their outstanding balance from month to month, interest charges are a constant concern. Saving money is more about reducing interest, in this case, then it is earning cash back or rewards. BMO offers a pertinent solution with their BMO Preferred Rate MasterCardĀ®*, which can immediately help applicants transfer their balances and then pay an introductory interest on Balance Transfers of 0.99% for nine months (2% transfer fee applies)*. With most cards charging interest at 20% or more, this alone can put money right back into your pocket.

    Even without the promotional balance transfer rate, BMO keeps interest on purchases and cash advances at a competitive 13.99% and 15.99% respectively. Standard among BMO cards is complimentary damage and theft protection for new items bought with the Preferred Rate card, plus extended manufacturersā€™ warranties by up to one more year*. These benefits are all available to cardholders for the low annual fee of $29 (waived in the first year)*.

    *Terms and conditions apply

    Learn more in our BMO Preferred Rate MastercardĀ®* review.

Best BMO card for everyday spending

BMO eclipse Visa Infinite* Card

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.

20.99% Purchase APR

23.99% Cash Advance APR

$120 Annual Fee One Hundred And Twenty

Good Recommended Credit Score

$60,000 Required Annual Personal Income

Welcome Offer Ends May 31, 2024

Get up to 60,000 points worth $400 in travel rewards

Learn more
  • Why we chose the BMO eclipse Visa Infinite* Card

    +

    With the BMO eclipse Visa Infinite* Card, you can earn on dining, groceries, gas, and transit. The minimum annual individual income for this card is $60,000 and for a household it is $100,000. This makes it a great option for anyone out there building their career, and looking to boost their credit.

    When you sign up you can earn a welcome bonus of up to 60,000 BMO Rewards points* and have the $120 annual fee waived for the first year*. Youā€™ll get 30,000 BMO Rewards welcome bonus points when you spend a minimum of $3,000 in the first three month of card activation.

    Cardholders also get an additional 2,500 bonus points in each subsequent month that you spend at least $2,000, beginning 4 months from the account open date and ending 15 months from the account open date (as long as your account is in good standing). Youā€™ll earn 5x the rewards points for every $1 spent on dining, groceries, gas, and transit*. Earning bonus points on these essential categories is an awesome way to earn and make the most of your everyday spending. On everything else, youā€™ll earn 1 point for every $1 you spend*.

    This credit card is an awesome option for hustling millennials building wealth and looking to earn perks along the way. For those of you that are busy, this credit card helps you earn while you spend.

    *Terms and conditions apply

    Learn more in our BMO eclipse Visa Infinite* Card review.

Summary: BMO credit card comparison chart

BMO credit card Best for Link
BMO CashBackĀ® MastercardĀ® No annual fee Apply Now
BMO Ascendā„¢ World EliteĀ®* MastercardĀ®* Travel rewards Apply Now
BMO CashBackĀ® World EliteĀ®* MastercardĀ®* Cash back Apply Now
BMO AIR MILESĀ®ā€  World EliteĀ®* MastercardĀ®* AIR MILES Apply Now
BMO AIR MILESĀ®ā€  MastercardĀ®* Balance transfer Apply Now
BMO Preferred Rate MastercardĀ®* 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.

About our author

Em Norton
Em Norton, Staff Writer

Em Norton is a Staff Writer for Money.ca. Em holds a B.A. in Professional Writing from York University where their studies focused on publishing and editing. Em has been writing professionally since 2019 and has previously been published by IN Magazine, Xtra Magazine, Money Under 30, Money After Graduation, Our Canada and more. Though often found writing about money, generational divides and pop culture here at Money.ca, Em also dabbles in poetry and prose. In their spare time, Em can be found playing with their black cat, doing yoga and reading books at an excessive pace.

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