There are quite a few good BMO credit cards in Canada, but some stand out above the rest for their impressive rates, complimentary memberships, and low annual fees. I constantly keep up with the latest options and policy changes and make my recommendations below based on years of experience.
I recommend the BMO Cashback Mastercard as the best BMO credit card in Canada due to its no annual fee, 3% cash back rate on groceries, and promotional cash back. It is one of the most flexible BMO credit cards, and it comes with a welcome bonus of $125.
What Are BMO Credit Cards?
The Bank Of Montreal – also known as BMO – is one of the ‘Big 5 Banks’ of Canada, with over 800 branches in the US and Canada. BMO services over 7 million customers and operates as BMO Financial Group and BMO Harris Bank in the US.
BMO offers various credit cards for Canadians, including cash back, travel, low-interest, and even no-annual-fee credit cards. They also offer many good options for students looking to build a credit history, and people looking to skip currency exchange fees when purchasing abroad or online.
Without further ado, here are the best BMO credit cards Canada has to offer.
The Best BMO Credit Cards
- BMO CashBack Mastercard: Best for cash back on groceries with no annual fee
- BMO CashBack World Elite Mastercard: Best for cashback overall
- BMO AIR MILES Mastercard: Best for air miles with no annual fees
- BMO Preferred Rate Mastercard: Â Best for low-interest rate and low annual fees
- BMO Eclipse Visa Infinite Card: Best for lifestyle (gas, groceries, and dining out) purchases and bonus points
- BMO U.S. Dollar MasterCard: Best for purchases in U.S dollars
How Do BMO Credit Cards Work?
BMO offers a variety of credit cards best suitable for different purposes, including obtaining rewards and saving on interest and fees. They also have credit cards tailored to specific demographics, such as students or those with not-so-great credit scores. These are called student credit cards and secured credit cards, respectively.
As of this article's writing, BMO has 13 personal credit cards on offer.
BMO Credit Cards FAQs
How Should You Choose A BMO Credit Card?
Choosing the right BMO credit card for you would depend on what you want to achieve with a credit card. Below is a list of all the BMO cards on offer and their different value propositions:
- No Fee Cards
- BMO CashBack Mastercard – Best for no-fee cashback rewards
- BMO Air Miles Mastercard – Best for no fee air miles rewards
- BMO Rewards Mastercard – Best for no fee BMO rewards
- Low Interest/Low Fee Cards
- BMO Preferred Rate Mastercard – Best for no-fee cashback rewards
- BMO Prepaid Travel Mastercard – Best for no fee air miles rewards
- BMO Rewards Mastercard – Best for no fee BMO rewards
- CashBack
- BMO CashBack World Elite Mastercard – Best for cashback overall
- BMO CashBack Mastercard – Best for no-fee cashback rewards
- Rewards
- BMO Eclipse Visa Infinite Card – Best for lifestyle travel and BMO Rewards
- BMO Ascend World Elite Mastercard – Best for BMO Rewards and Travel
- BMO Eclipse Visa Infinite Privilege Card – Best for lifestyle travel and BMO RewardsÂ
- BMO Rewards Mastercard – Best for no fee BMO rewards
- Air Miles
- BMO Air Miles Mastercard – Best for no fee Air MilesÂ
- BMO Air Miles World Elite Mastercard – Best for Air Miles Travel
- Students
- Student BMO CashBack Mastercard – Best for Student no fee Cashback
- Student BMO AIR MILES Mastercard – Best for Student no fee Air Miles
How Do You Apply For A BMO Credit Card?
To obtain a BMO credit card, you must be considered eligible. Eligibility requirements differ by credit card, but they typically include the following:
- You must be a Canadian citizen or permanent resident
- You have not declared bankruptcy in the past seven years
- You have attained the age of majority in your province of residence
- You meet a minimum individual or household income requirement
Which Credit Bureau Does BMO check?
BMO checks credit reports from either Equifax or TransUnion credit bureaus.
Can I Have More Than One BMO Credit Card?
Yes, there are no limits on how many BMO credit cards you can have.
How Do I Redeem My BMO Rewards?
Cash back rewards can be redeemed through a direct deposit into a BMO account or a credit to the BMO credit card statement. They can also be redeemed anytime as long as a minimum of $1 cashback has been accumulated.
Other forms of rewards can be redeemed from the official BMO website. BMO reward points can be redeemed for over 800 products and services, from gift cards to electronic gadgets to kitchen accessories.
