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Bank of Montreal (BMO)
Written by Lauren Brown
Last updated on June 26, 2026
Fact Checked
FinlyWealth rating
🏅
4.1
Products they offer:
Best for:
BMO is best for Canadians seeking a well-rounded banking experience that combines a broad range of financial products with the convenience of full-service banking. It’s particularly well-suited for those who prefer managing their finances within a single institution.
Overview
The Bank of Montreal, known as BMO, is the oldest and one of the biggest banks in the country. With a comprehensive range of products, its network extends across both Canada and the United States. Its broad product lineup makes it a popular choice amongst those seeking full-service banking.
At BMO, account types cater to different customer needs and include those for students, seniors and newcomers to Canada. Customers can choose from low-cost banking services to more premium accounts that include additional benefits. Depending on the account type and balance maintained, a fee waiver might be available. Long-term savings rates are less competitive than digital institutions though.
BMO has plenty of credit cards ranging from no-fee options to premium rewards cards. The bank stands out for having one of the best cash back credit cards in Canada. Though BMO has a few Visa credit cards, it partners with Mastercard for its primary network. In terms of lending options, the bank tends to have many promotional rates and even a unique mortgage cash back incentive, making it one of the most comprehensive in Canada.
Pros
- Broad range of banking, lending and investment products
- Access to over 40,000 Allpoint ATMs across Canada
- Wide selection of cash back and rewards credit cards
- Fee waivers available on select chequing accounts
- Established reputation as one of Canada’s largest banks
Cons
- Savings account rates below those of digital-first providers
- Relatively high monthly account fees if you don’t meet the waiver requirements
- Not always the most competitive lending rates
- Some premium account benefits require maintaining a significant balance
Product Reviews
Savings Accounts
OPEN ACCOUNT
on BMO's website
Welcome Bonus
Earn a promotional rate of 4.55%*
Regular Interest
0.55%
Monthly Fee
$0
The BMO Savings Amplifier Account is a no-monthly-fee savings account meant for Canadians seeking flexibility. Unlike traditional savings accounts, it includes unlimited self-service transfers between eligible BMO accounts, making it easy to keep savings separate from everyday spending accounts.
While the account provides greater flexibility than some competing savings accounts, its interest rate remains lower than many of the top savings accounts available in Canada. As a result, it’s a suitable option for those prioritizing convenience and access over maximizing interest earnings.
Earn a promotional rate of 4.55%**
Earn a 0.50%*12 savings interest rate or a promotional rate of 4.55%**
Get a promotional interest rate when you also open a Performance, Premium, AIR MILES®†, Plus or Practical Chequing Account.
Pay no monthly plan fee or minimum deposit
$0 monthly plan fee and $0 minimum deposit required to get started.
Get unlimited self-serve transfers
Make transfers to your other BMO accounts any time, including mobile and online transfers, and ATM.*99
Manage your savings with BMO Savings Goals
Save for a vacation, or a big purchase with our new Mobile Banking feature, BMO Savings Goals.
BMO Savings Builder Account
BMO Savings Builder Account
2.5 Our rating
OPEN ACCOUNT
on BMO's website
Welcome Bonus
N/A
Regular Interest
Up to 0.5%
Monthly Fee
$0
For those who need an added incentive to save, the BMO Savings Builder Account might be the right fit. It rewards customers who consistently grow their balance with a higher interest rate when they add at least $200 each month to the account. It’s an unconventional perk that comes with no monthly account fee.
The account structure appeals to disciplined savers who make regular contributions to their accounts and are working towards a long-term savings goal. If you cannot meet the monthly savings requirement or expect to make frequent withdrawals, the account may not be the right fit. Customers with a sole focus on maximizing interest income may find stronger savings account options elsewhere.
- Earn up to 0.550% with an additional bonus interest rate when your account balance increases by $200 or more each month*17
- No monthly fee
- One no cost transaction per month*23
- One free pre-authorized debit, transfer to BMO account or Interac eTransfer per month with a $5 charge per additional transaction
OPEN ACCOUNT
on BMO's website
Welcome Bonus
N/A
Regular Interest
0.01%
Monthly Fee
$0
The BMO Premium Rate Savings Account is for eligible BMO banking customers looking to keep their savings within the bank. Though its monthly account fee depends on the banking plan you have, it offers seamless integration with eligible BMO chequing accounts. It provides a convenient place to hold cash while keeping both your everyday banking and savings under one roof.
While the account offers convenience, its interest rate is significantly lower than many competing savings accounts available in Canada. It’s most appealing to existing BMO customers who value simplicity and account integration. Those looking to maximize interest income can find better options elsewhere.
- Earn 0.010% interest on all balances*12
- Monthly fee depends on your plan
- Transactions depend on your plan limit*7,*105
- Access your money at any time
- Add the account to your BMO Chequing Account to pay a single fee*1,*3
- Must have a BMO Chequing Account in order to open the account*100
Chequing Accounts
Best for: Great bonus offer and unlimited transactions
OPEN ACCOUNT
on BMO's website
Welcome Bonus
Earn up to a $900 cash bonus* and a Walmart+ membership for up to 12 months*
Monthly Fee
$17.95 (waived with $4,000 balance)
Account Type
Chequing • Personal
The BMO Performance Chequing Account strikes a balance between affordability and flexibility. It includes unlimited transactions and Interac e-Transfers, allowing customers to manage their day-to-day banking without worrying about transaction limits. Customers who maintain a minimum balance of $4,000 can also see a waiver of the monthly fee. When that’s possible, it improves the account’s value proposition, though it may not be realistic for every customer.
Unlike many entry-level chequing accounts, the Performance Chequing Account combines everyday banking features with additional perks like BMO’s Family Bundle program. These features make the account suitable for Canadians who frequently use their account yet don’t want to pay for a premium banking package. Its combination of unlimited banking and fee-waiver potential makes it a top chequing account pick among the major Canadian banks.
Earn up to a $900 cash bonus*
Plus a Walmart+ membership for up to 12 months*
STEP 1
Chequing Account Offer
Earn $700 when you:
- Open and fund a new BMO Performance or Premium Plan Chequing Account by August 6, 2026
- Complete the qualifying criteria by September 30, 2026
1. Set up a recurring direct deposit of $500 or more from your employer, the government, or your pension, and have the first deposit appear by September 30, 2026.
2. Complete one of the following by September 30, 2026:
• Make two (2) bill payments of $50 or more to two (2) different payees through BMO Online Banking or the BMO Mobile Banking app; and
• Set up two (2) pre-authorized debits (PADs) of $50 or more from two (2) different payees.
STEP 2
Savings Account Offer
Earn $150 when you:
- Open a Savings Amplifier Account by August 6, 2026
- Complete the following:
• Deposit a total of $10,000 or more into the Savings Amplifier Account within the first 30 calendar days of opening the account;
• Maintain a daily closing balance of $10,000 or more for 120 calendar days from the date of deposit to earn the 4.65% promotional interest rate** on balances up to $1,000,000;
• After the initial 120-day promotional period, continue to maintain a daily closing balance of $10,000 or more for an additional 90 calendar days to qualify for the $150 cash bonus.
You must complete step one to qualify for step two.
STEP 3
My Financial Progress Offer
Earn $50 when you:
- Sign in to BMO Online Banking or BMO Mobile Banking to access My Financial Progress and complete the following:
• Create one (1) Goal in My Financial Progress Plan by September 30, 2026;
• Go to the Planning Tab and apply one (1) Strategy to the plan by September 30, 2026.
You must complete step one to qualify for step three.
Get a Walmart+ membership for up to 12 months* when you:
- Open and fund a new Performance, Premium, Practical or Plus chequing account by August 6, 2026.
- Sign up for or update your existing Walmart+ membership on Walmart.ca by September 30, 2026. You’ll have to select Debit Mastercard as the payment option and enter your new BMO debit card number
Eligibility criteria (open account or switching eligibility)
If you meet the eligibility criteria, the Chequing Account and My Financial Progress cash bonus will be credited to your account by October 31, 2026. The Savings Account cash bonus will be credited by April 30, 2027.
Unfortunately if you already have a chequing account with us from May 21, 2025 to August 6, 2026 you are not eligible for this promotion.
If you close your account before August 6, 2027, you will not be eligible for this promotion.
Each bill payment is required to be paid to a different biller account number. For example, if you are paying a cell phone bill it has to be paid to different accounts numbers to be counted as 2 different bill payments.
- Get accounts for family members without paying an additional monthly fee
- Get a promo interest rate when you add a Savings Amplifier Account
- Up to $40 rebate on the annual fee for eligible BMO credit cards
- OnGuard®† Identity Theft Protection at no charge
- Unlimited transactions
- No-fee Global Money Transfer transactions to up to 50 countries
Transaction Fees | $0.00 per use |
|---|---|
Interac e-transer fee | $0.00 per use |
Number of self-serve transactions | N/A |
Number of Interac e-transfers | Unlimited |
Global Money Transfer | $0.00 per use |
ATM withdrawals | 1 Canadian withdrawal included per month then $2 each in Canada, $5 each outside of Canada |
Credit card fee rebate | $40 |
Rewards scheme | N/A |
Interest on savings | Savings Amplifier Account promotional interest rate 4.65%. Terms apply |
Bank draft cost | $9.95 |
Overdraft fee & interest | $5 per month |
Paperless & Mailed monthly statement | $2.25 per month |
Service features (digital/in-person) | Easy, secure digital banking Move money on the go, track your savings goals and deposit cheques |
Account Fees
Monthly Fee
$17.95
Fee Waiver: Minimum Balance Waiver
$4,000 min. balance
Maintain $4,000 minimum monthly balance to waive the monthly fee
Credit Card Rebate
Up to $40
eStatement
Included
Transactions
Transactions
Unlimited free
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$2
USA
$5
International
$5
International & Currency
Foreign Currency Conversion
2.5%
Other Fees
NSF (Non-sufficient Funds)
$5
Overdraft Protection
$5/month
Overdraft Interest
21% annually (if used)
Bank Draft
$9.95
BMO Premium Chequing Account
BMO Premium Chequing Account
3.9 Our rating
OPEN ACCOUNT
on BMO's website
Welcome Bonus
Earn up to a $900 cash bonus* and a Walmart+ membership for up to 12 months*
Monthly Fee
$30.95 (waived with $6,000 balance)
Account Type
Chequing • Personal
If you want full-service banking with few limitations, the BMO Premium Chequing Account might be for you. It includes unlimited transactions and Interac e-Transfers along with access to BMO’s branch and ATM network. Customers who maintain the required minimum balance can benefit from a fee waiver, making the account attractive if you keep a large cash balance.
In addition to everyday banking, the account includes a range of premium benefits that help distinguish it from lower-tier options. The minimum balance of $6,000 is quite high, so few customers may actually qualify to have their fee waived. For those who can, though, the combination of unlimited banking and added perks provides strong overall value.
Earn up to a $900 cash bonus*
Plus a Walmart+ membership for up to 12 months*
STEP 1
Chequing Account Offer
Earn $700 when you:
- Open and fund a new BMO Performance or Premium Plan Chequing Account by August 6, 2026
- Complete the qualifying criteria by September 30, 2026
1. Set up a recurring direct deposit of $500 or more from your employer, the government, or your pension, and have the first deposit appear by September 30, 2026.
2. Complete one of the following by September 30, 2026:
• Make two (2) bill payments of $50 or more to two (2) different payees through BMO Online Banking or the BMO Mobile Banking app; and
• Set up two (2) pre-authorized debits (PADs) of $50 or more from two (2) different payees.
STEP 2
Savings Account Offer
Earn $150 when you:
- Open a Savings Amplifier Account by August 6, 2026
- Complete the following:
• Deposit a total of $10,000 or more into the Savings Amplifier Account within the first 30 calendar days of opening the account;
• Maintain a daily closing balance of $10,000 or more for 120 calendar days from the date of deposit to earn the 4.65% promotional interest rate** on balances up to $1,000,000;
• After the initial 120-day promotional period, continue to maintain a daily closing balance of $10,000 or more for an additional 90 calendar days to qualify for the $150 cash bonus.
You must complete step one to qualify for step two.
STEP 3
My Financial Progress Offer
Earn $50 when you:
- Sign in to BMO Online Banking or BMO Mobile Banking to access My Financial Progress and complete the following:
• Create one (1) Goal in My Financial Progress Plan by September 30, 2026;
• Go to the Planning Tab and apply one (1) Strategy to the plan by September 30, 2026.
You must complete step one to qualify for step three.
Get a Walmart+ membership for up to 12 months* when you:
- Open and fund a new Performance, Premium, Practical or Plus chequing account by August 6, 2026.
- Sign up for or update your existing Walmart+ membership on Walmart.ca by September 30, 2026. You’ll have to select Debit Mastercard as the payment option and enter your new BMO debit card number
Eligibility criteria (open account or switching eligibility)
If you meet the eligibility criteria, the Chequing Account and My Financial Progress cash bonus will be credited to your account by October 31, 2026. The Savings Account cash bonus will be credited by April 30, 2027.
Unfortunately if you already have a chequing account with us from May 21, 2025 to August 6, 2026 you are not eligible for this promotion.
If you close your account before August 6, 2027, you will not be eligible for this promotion.
Each bill payment is required to be paid to a different biller account number. For example, if you are paying a cell phone bill it has to be paid to different accounts numbers to be counted as 2 different bill payments.
Account Features | |
|---|---|
Transaction fees | $0.00 per use |
INTERAC e-Transfer fee | $0.00 per use |
Number of self-serve transactions | N/A |
Number of INTERAC e-Transfers | Unlimited |
Global Money Transfer | $0.00 per use |
ATM withdrawals | Unlimited worldwide |
Credit card fee rebate | $150.00 |
Rewards scheme | N/A |
Interest on savings | Savings Amplifier Account promotional interest rate 4.65%. Terms apply. |
Bank draft cost | $0 |
Overdraft fee & interest | $0 |
Paperless & Mailed monthly statement | $2.25 per month |
Service features (digital/in-person) | Easy, secure digital banking |
- Get accounts for family members without paying an additional monthly fee
- Get a promo interest rate when you add a Savings Amplifier Account
- Up to $150 rebate on the annual fee for an eligible BMO credit card
- Preferred U.S. foreign exchange rate
- Unlimited transactions and worldwide for non-BMO ATM withdrawals at no cost
- OnGuard®† Identity Theft Protection at no charge
- No-fee Global Money Transfer transactions to up to 50 countries
Account Fees
Monthly Fee
$30.95
Fee Waiver: Minimum Balance Waiver
$6,000 min. balance
Maintain a monthly balance of $6,000 to waive the full monthly fee
Credit Card Rebate
Up to $150
eStatement
Included
Transactions
Transactions
Unlimited free
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$0
USA
$0
International
$0
International & Currency
Foreign Currency Conversion
2.5%
Other Fees
NSF (Non-sufficient Funds)
$10
Overdraft Protection
$0/month
Overdraft Interest
21% annually (if used)
Bank Draft
$0
Best for: Best overall student chequing account
BMO Student Chequing Account
BMO Student Chequing Account
4.6 Our rating
OPEN ACCOUNT
on BMO's website
Welcome Bonus
Earn up to a $200 Tech reward from Best Buy*
Monthly Fee
$0
Account Type
Chequing • Student
Giving students everyday banking access, the BMO Student Chequing Account comes without a monthly fee. It offers unlimited debit transactions and Interac e-Transfers, so it’s easy to manage your spending and pay bills without worrying about transaction limits. Combined with access to BMO's branch and ATM network, the account offers a practical banking solution for student life.
BMO provides unlimited day-to-day banking for students looking to minimize costs without sacrificing flexibility. While some competing student accounts include additional premium banking benefits, the BMO Student Chequing Account remains a solid choice for students who want straightforward banking.
- Open a new BMO Student Chequing Account and get a tech reward from Best Buy worth up to $200*
- Offer expires November 3, 2026
How to redeem Best Buy rewards
Follow these three easy steps:
- Open an account: Open a Student Chequing Account and make sure you are enrolled in a university, college or vocational school.
- Meet eligibility: Complete the required steps to unlock your reward.
- Redeem your reward: Receive an email within 3 weeks with your reward options and make your selection.
- $0 monthly fee while you're a full-time student, and for up to one year after graduation
- Unlimited everyday transactions, including debit purchases and INTERAC e‑Transfers
- One free non-BMO ATM withdrawal per month in Canada; $2 for additional withdrawals
- Unlimited free Global Money Transfers
- Up to $40 annual rebate on eligible BMO credit card annual fees
- Overdraft protection available for $5/month per linked account
- No minimum balance required
Account Fees
Monthly Fee
$0
Credit Card Rebate
Up to $40
eStatement
Included
Transactions
Transactions
Unlimited free
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$2
USA
$5
International
$5
International & Currency
Foreign Currency Conversion
2.5%
Other Fees
NSF (Non-sufficient Funds)
$5
Overdraft Interest
21% annually (if used)
Bank Draft
$9.95
Best for: Newcomers to Canada
OPEN ACCOUNT
on BMO's website
Welcome Bonus
Earn up to $900* cash
Monthly Fee
$17.95 (waived with $4,000 balance)
Account Type
Chequing • Personal
The BMO NewStart Program helps newcomers establish their finances in Canada. Eligible participants can receive banking products including a chequing account and a credit card. By combining several financial tools, including BMO SmartProgress™, into a single package, the program simplifies the process of starting fresh in a new country.
Few banking programs offer the same level of support for newcomers. The inclusion of a credit card without an established Canadian credit history can help participants begin building credit, and the broader banking package includes perks like a credit card annual fee rebate, free BMO Global Money Transfers and a Family Bundle. For newcomers looking for a comprehensive banking solution, the BMO NewStart Program delivers on value.
BMO Performance Chequing Account: Newcomers get up to a $900* cash bonus and a Walmart+ membership for up to 12 months*. Also, no monthly plan fees for 2 years*.
Eligibility: To qualify for any special offer pertaining to the BMO NewStart program as set out above, a customer must be a permanent resident or foreign worker who arrived in Canada within the last five (5) years. Proof that status was obtained within the last five (5) years is required as evidenced by their Canadian Permanent Resident Card, Confirmation of permanent residency or work permit (IMM 1442).
What to Expect from the Newcomer Performance Bank Account:
- Earn up to 900* cash bonus
- Family Bundle Bonus
- Enjoy unlimited monthly transactions, including Interac e-transfers (3,000 daily maximum), with no monthly Plan fee for two years with the Performance Plan
- Up to $40 rebate on the annual fee for BMO Credit Cards
- Send BMO Global Money Transfers with no-fee
- Protect your documents in a safety deposit box and get a $60 cash bonus
- Get personalized financial advice at a branch near you
- Explore our financial wellness tool, BMO SmartProgress™
- Non-BMO ATM withdrawals per month: 1 Canadian withdrawal included. Then 2 each in Canada, $5 each in the U.S., $5 each outside Canada and the U.S.
- Standard overdraft protection: $5/month
Pros
- Generous welcome bonus
- Unlimited transactions
- Credit card rebates
- No-fee global money transfers
Cons
- Minimum balance requirement
- ATM fees
Account Fees
Monthly Fee
$17.95
Fee Waiver: Newcomer Rebate
$4,000 min. balance
No monthly plan fee for 2 years with a minimum balance of $4,000
Credit Card Rebate
Up to $40
eStatement
Included
Transactions
Transactions
Unlimited free
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$2
USA
$5
International
$5
International & Currency
Foreign Currency Conversion
2.5%
Other Fees
NSF (Non-sufficient Funds)
$5
Overdraft Protection
$5/month
Overdraft Interest
21% annually (if used)
Bank Draft
$9.95
OPEN ACCOUNT
on BMO's website
Welcome Bonus
N/A
Regular Interest
Up to 0%
Monthly Fee
$17.95
Account Type
Chequing • Personal
The BMO Blue Rewards Chequing Account combines everyday banking with the ability to earn rewards on eligible debit card purchases. Customers receive unlimited transactions and Interac e-Transfers while earning Blue Points on their spending. It’s a unique option compared to other chequing accounts from the major Canadian banks.
While customers can earn additional Blue Points for keeping a certain balance in the account, the bank doesn’t waive the monthly fee on this account if you maintain the minimum balance. As a result, the overall value you receive from this account will depend on how much you spend and how you use your rewards.
The account is a strong fit for existing BMO customers who value rewards and plan to take advantage of the included benefits. That said, Canadians focused on minimizing banking costs may find better value in accounts that offer fee waivers or have a lower monthly fee.
- Earn 2x Blue Points on every $2 of eligible groceries, gas, wholesale club and EV charging spending and earn 1x Blue Points on everything else9
- Get 500 Bonus Points monthly when you maintain a minimum balance of $4,000 every day106
- BMO Family Bundle available allowing no fee banking for your household’s family members90, 107
- Save more than $150 annually with free access to OnGuard® Identity Theft Protection74
- No limit on transactions52
- Free Interac e-Transfers39
Account Fees
Monthly Fee
$17.95
eStatement
Included
ATM Fees
Own Network
$0
Canadian ATMs
$2
International
$5
BMO Plus Chequing Account
BMO Plus Chequing Account
3.3 Our rating
OPEN ACCOUNT
on BMO's website
Welcome Bonus
N/A
Regular Interest
Up to 0%
Monthly Fee
$12.95 (waivable)
Account Type
Chequing • Personal
Made for Canadians who need more than a basic banking package, the BMO Plus Chequing Account offers a generous monthly transaction allowance. It’s ideal for those who use their account frequently but don’t require unlimited transactions each month. Customers can also have the monthly fee waived by maintaining a minimum balance.
While the account offers solid everyday banking value, it lacks the premium benefits and unlimited transaction features available with some higher-tier accounts. It’s most suitable for those customers with moderate banking needs who want to keep their cost down while still maintaining access to full-service banking
- Monthly fee waived with $3,000 minimum balance
- Benefit from a no additional cost Canadian and US dollar savings account
- Get up to 25 no cost transactions52, 104 and Interac e-Transfers monthly39, 101
- No limit on eligible public transit transactions104
- Overdraft protection available for $5 per month20
Account Fees
Monthly Fee
$12.95
eStatement
Included
ATM Fees
Own Network
$0
Canadian ATMs
$2
International
$5
BMO Practical Chequing Account
BMO Practical Chequing Account
2.95 Our rating
OPEN ACCOUNT
on BMO's website
Welcome Bonus
Get a cash bonus for as much as $150!*‡
Regular Interest
Up to 4.65%
Monthly Fee
$4
Account Type
Chequing • Personal
The BMO Practical Chequing Account is a straightforward option for Canadians with basic banking needs. The account includes a set number of monthly transactions and access to BMO’s branch and ATM network. It’s suitable for customers who primarily use their account for occasional purchases and prioritize a lower monthly fee versus unlimited banking transactions.
The account’s limited transaction allowance means it may not be the best choice for customers using their account frequently. Those who make regular debit purchases may find better value in a higher-tier account that offers additional transactions and greater flexibility.
To qualify for the Chequing Account Bonus Offer, you must:
1) Open a new Chequing Account with an Eligible Bank Plan during the Offer Period, May 21, 2026 – August 6, 2026;
AND
2) Provide a valid email address¹ at the time of opening the Chequing Account. If the Chequing Account is a joint account, this requirement is met if one of the accountholders provides a valid email address¹;
AND
3) Make a deposit of any amount to the Chequing Account by August 6, 2026;
AND
4) Set up one (1) recurring direct deposit of $500 or more from your employer, the government, or your pension, and have the first deposit appear in the Chequing Account by September 30, 2026;
5) Complete one (1) of the following Eligible Transactions (defined below) from the Chequing Account and have the transaction appear in the Chequing Account by September 30, 2026:
a. Make two (2) bill payments of $50 or more to two (2) different payees through BMO Online Banking or the BMO Mobile Banking app;
b. Set up two (2) pre-authorized debits (PADs) of $50 or more from two (2) different payees
Eligible Transactions
• Bill payment: Make two (2) bill payments of $50 or more to two (2) different payees through BMO Online Banking or the BMO Mobile Banking app from your Chequing Account by September 30, 2026. Exclusions: A transfer from your Chequing Account to pay a BMO credit card or a BMO line of credit does not qualify as an Eligible Transaction.
• Pre-authorized debit (PAD): Set up two (2) PADs of $50 or more from two (2) different payees from your Chequing Account and have at least one (1) PAD from each payee appear in the Chequing Account by September 30, 2026. A PAD includes, but is not limited to, a pre-authorized bill payment to a service provider such as a utility bill, gym membership, or PAD to a BMO mortgage, BMO loan, BMO line of credit, or contribution to a BMO investment account. Exclusions: A PAD that is not paid and returned for any reason including non-sufficient fund, funds-not-clear, stop payment does not qualify as an Eligible Transaction.
Available until August 6, 2026
- Earn up to 4.65% with the Savings Amplifier Account promotional interest rate**
- 12 transactions per month 52, 104
- Free Interac eTransfers
- No cost withdrawals at BMO ATMs
- No limit on eligible public transit transactions104
- Overdraft protection available for $5 per month20
Account Fees
Monthly Fee
$4
eStatement
Included
ATM Fees
Own Network
$0
Canadian ATMs
$2
International
$5
Credit Cards
APPLY NOW
on BMO's website
Welcome Bonus
Get up to $1,600 in value including up to 100,000 points. Plus, get a 0% introductory interest rate on Balance transfers for 12 months.
Annual Fee
$150 $0
Interest Rates
21.99% / 23.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.5/5
The BMO Ascend World Elite Mastercard is perfect for frequent travelers who want a premium card offering high earning rates on travel, dining, and entertainment, plus valuable travel perks like lounge access and comprehensive insurance coverage. If you travel often and can meet the income requirement, this card offers flexibility and peace of mind with both rewards and protection while you're on the go.
Pros
- Generous rewards
- Lounge access
- Comprehensive insurance
- first-year fee rebate
Cons
- Low point value
- High income requirements
- Limited lounge availability
Rewards
- 5x points per $1 spent on eligible travel purchases (up to $15,000 spent)
- 3x points per $1 spent on eligible dining, recurring bill payment and entertainment purchases (up to $10,000 spent per category)
- 1x point per $1 spent on all other eligible purchases
Insurance
Coverage
Purchase Protection
90 days
Extended Warranty
Double up to 1 year
Travel Medical Insurance (64 & under)
$5M up to 21 days
Common Carrier Travel Accident Insurance
$500,000/person
Trip Interruption
$2K/person, $10K/trip
Trip Cancellation
$1,500/person, $5K/trip
Flight Delay
$500 after 4 hoursBaggage Delay
$500/person, $1K/trip
Lost or Stolen Baggage
$500/person, $1K/trip
Hotel Burglary Insurance
$1,000.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Car Rental Damage & Theft
$65,000 up to 48 days
Benefits
Details
Airport Lounge - Dragon Pass
4 complimentary visits
Discount
Up to 7% discount on Booking.com prepaid hotel or property rental bookingsDiscount
20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas
Car Rental Discount
20% off base rate of participating National Car Rental and Alamo Rent a Car and up to 5% on Enterprise Rent-A-CarDiscount
FlexiRoam: Stay connected around the world without a SIM card and get up to 15% off a Global Data Roaming plan plus up to 3GB of data, free.Discount
Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
APPLY NOW
on BMO's website
Welcome Bonus
5% cash back for the first 3 months, up to $2,500 in spend*
Annual Fee
$0
Interest Rates
21.99%* / 23.99%*□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.2/5
This is a great basic cashback credit card for those that prefer no annual fees while getting one of the highest cashback rates on groceries. You also have the additional benefit of redeeming cashback at any point without needing to wait.
Pros
- No annual fee
- Impressive grocery cashback
- Multiple discounts
Cons
- Low base earn rate
- Limited insurance
Rewards
- 3% cash back on grocery purchases (maximum $15 per statement)
- 1% cash back on recurring payments like bills or subscriptions (maximum $5 per statement)
- 0.5% cash back on all other purchases
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 year
Benefits
Details
Car Rental Discount
Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool.Discount
Get 20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas.Hotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.Discount
Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
GoodAnnual Income
N/A
APPLY NOW
on BMO's website
Welcome Bonus
Up to 10% cash back and 0% introductory interest rate on balance transfers
Annual Fee
$0
Interest Rates
20.99% / 23.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.1/5
A genuinely good free card. You get 1.5% cash back on gas, office supplies, and telecom with no annual fee — that’s rare. The 10% introductory cash back for the first three months is unusually generous for a no-fee card, making it worth picking up even just for the welcome period. The 0.75% base rate on other purchases is modest, and there are annual caps on the bonus categories, but the math still works for most small businesses. If you want cashback without paying for it, this is one of the best options available. Just don’t expect travel perks or premium insurance — it’s purely about the cash back.
Pros
- No annual fee
- Generous welcome bonus
- Competitive cashback
- Business accounting software integration
Cons
- Low base earn rate
- Spending caps
- Limited bonus categories
- Foreign transaction fees
- Lacks travel benefits
- Lacks travel coverage
- High purchase interest rate
Rewards
- Earn 1.75% cash back on eligible gas purchases when you pay at the pump or shop in store at Shell®±4 (up to a maximum of $2,500 per account)
- Earn 1.5% cash back on eligible on gas, office supplies and cellphone and internet bill payments2 (up to $1,000 of spending in each category per statement cycle)
- Earn 0.75% cash back on all other card purchases5
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 year
Benefits
Details
.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Gas Discount
Get up to 7 cents off per litre on all your Shell®± fuel – just for being a BMO cardholder[7]
Eligibility
Credit Score
GoodAnnual Income
N/A
APPLY NOW
on BMO's website
Welcome Bonus
Get up to $650 in value*
Annual Fee
$139 $0
Interest Rates
21.99% / 23.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.1/5
If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.
Awards & Recognition
Best Roadside Assistance Card Credit Card
2026
Pros
- Impressive cashback rates
- Rare roadside assistance
- Comprehensive insurance and benefits
- High first-year value
Cons
- Lacks restaurant optimization
- Low monthly cashback caps
Rewards
- 5% cash back on groceries (capped at $500 spending per statement, maximum of $25 in cashback per statement cycle)*
- 4% cash back on daily transit (capped at $300 spending per statement, maximum of $12 in cashback per statement cycle)*
- 3% cash back on gas (capped at $300 spending per statement, maximum of $9 in cashback per statement cycle)*
- 2% cash back on recurring payments (capped at $500 spending per statement, maximum of $10 in cashback per statement cycle)*
- 1% cash back on all other eligible purchases*
Insurance
Coverage
Travel Medical Insurance (64 & under)
$5M up to 8 days per covered person*Common Carrier Travel Accident Insurance
$500,000Flight Delay
$500 After 4 hours delay*Lost or Stolen Baggage
$500/person, $1,000 maximum*Baggage Delay
$500/person, $1,000 maximum After 6 hours*Hotel Burglary Insurance
$1,000Car Rental Damage & Theft
$65K MSRP up to 48 days*Purchase Protection
90 daysExtended Warranty
1 year
Benefits
Details
Airport Lounge - Dragon Pass
Complimentary membership in Mastercard Travel Pass provided by DragonPass. As a member enjoy lounge access for a fee of just US$32 per person, per visit.*
Roadside Assistance
Complimentary Roadside Assistance Program*; Including battery boosts, flat-tire change, lockout service and towing – a $75/year value.*Car Rental Discount
Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool.*Discount
Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
APPLY NOW
on BMO's website
Welcome Bonus
Up to $840 in value (8,000 AIR MILES bonus miles) in the first year[2]
Annual Fee
$149 $0
Interest Rates
20.99% / 23.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.2/5
The premium tier of BMO’s AIR MILES business cards, and really only worth it if you actively shop at AIR MILES partners like Shell, Sobeys, or IGA — where you earn 4x the standard rate. The 8,000-mile welcome bonus (worth up to $840) and first-year fee rebate give you a strong start. You also get airport lounge access, travel insurance, and healthcare benefits that the no-fee version lacks entirely. At $149/year after the first year, you need consistent partner spending to come out ahead. The base earn rate away from partners is still low, so this card rewards loyalty to the AIR MILES network more than raw spending volume.
Pros
- Impressive partner optimization
- Bonus Mile opportunities
- First-year fee rebate
- Comprehensive insurance
- Airport lounge perks
- Complimentary virtual healthcare visits
- Shell fuel discounts
- Additional employee cards available
Cons
- High annual fee
- Low base earn rate
- Less flexible rewards
- Fees for additional cards
- Bonus Mile spending requirements
- High interest rates
Rewards
- Get 1 Mile for every $12 you spend1
- Get 4x the Miles when you use your card at participating AIR MILES partners1
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 yearTrip Interruption
$2,000Trip Cancellation
$1,500Common Carrier Travel Accident Insurance
$500,000Baggage Delay
$500Flight Delay
$500Hotel Burglary Insurance
$1,000Lost or Stolen Baggage
$500.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Personal Effects
$1,000Car Rental Damage & Theft
Included
Car Rental Accident
$200,000Car Rental Personal Effects
$1,000
Benefits
Details
Gas Discount
Get up to 7 cents off per litre on all your Shell®± fuel – just for being a BMO cardholder[7]Airport Lounge - Dragon Pass
Complimentary membership in Mastercard Travel Pass provided by DragonPass, enjoy lounge access for a fee of just US$32 per person, per visit.
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
Welcome Bonus
Get 20,000 Bonus Points, a 9-month 0.99% introductory interest rate on balance transfers with a 2% transfer fee*, and earn rewards from over 400 brands.*
Annual Fee
$0
Interest Rates
21.99% / 23.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3/5
The BMO Blue Rewards Mastercard is a solid contender for cardholders who shop frequently at participating Blue Rewards partners. For no annual fee, the card also offers decent point-potential on common purchases like gas and groceries, including unique categories like wholesale and alcohol purchases. Ultimately though, niche budget-conscious customers will get the most value out of this option.
Pros
- No annual fee
- Generous welcome bonus
- High partner purchase optimization
- Roadside assistance
Cons
- Niche optimization
- Standard balance transfer rate after promo period
Rewards
- Earn 5 Points for every $1 spent at participating Blue Rewards Partners*
- Earn 1 Point for every $1 spent on groceries, gas, electric vehicle charging, wholesale and alcohol purchases*
- Earn 0.5 Points for every $1 spent on everything else*
- Earn additional Points on top of your credit card Points when you use your physical or digital Blue Rewards Member Card at checkout*
- Get even more Blue Points when you add an extra cardholder for free*
- Redeem any amount of Points to reduce what you pay out of pocket when using a combination of your BMO Blue Rewards credit card and Points*
- Redeem your Points for entertainment, merchandise, eGift Cards, in-store purchases and more*
- Unlock exclusive offers at top brands through Blue Rewards offers*
Insurance
Coverage
Extended Warranty
Extension of original manufacturer’s warranty up to 1 year*Purchase Protection
90 days*
Benefits
Details
Car Rental Discount
Save up to 20% on National Car Rental and Alamo Rent A Car and up to 5% on Enterprise Rent-A-Car at locations worldwide using the Car Rental Booking tool.*Roadside Assistance
Complimentary Roadside Assistance Program*; Including battery boosts, flat-tire change, lockout service and towing.*Discount
Get 20% off admission to Cirque du Soleil shows in Canada, and 15% off resident shows in Las Vegas*Discount
Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
GoodAnnual Income
N/A
APPLY NOW
on BMO's website
Welcome Bonus
Get up to $1,600 in value, no annual fees for the first year, and a 0% introductory interest rate on balance transfers for 12 months with a 2% transfer fee*.
Annual Fee
$150 $0
Interest Rates
21.99% / 23.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660Good
725⁎Very Good
760⁎Excellent
3.2/5
The BMO Blue Rewards World Elite Mastercard caters to a specific high-income clientele. This competitor is a solid premium contender for those who make frequent Blue Rewards partner purchases, complete with valuable travel perks like lounge access. Still, the reward system is less flexible compared to other similar tier cards.
Pros
- Annual fee rebate
- Generous welcome bonus
- High partner purchase optimization
- Roadside assistance
- Lounge access
Cons
- Annual fee
- High income requirements
- Niche rewards system
Rewards
- Earn 10 Points for every $1 spent at participating Blue Rewards Partners*
- Earn 2 Points for every $1 spent on groceries, gas, electric vehicle charging, wholesale and alcohol purchases*
- Earn 1 Point for every $1 spent on everything else*
- Earn additional Points on top of your credit card Points when you use your physical or digital Blue Rewards Member Card at checkout*
- Unlock exclusive offers at top brands through Blue Rewards offers*
Insurance
Coverage
Extended Warranty
Doubles the original manufacturer’s warranty up to an extension of 1 year*Purchase Protection
Up to 90 days from date of purchase*Travel Medical Insurance (64 & under)
Out-of-province/out-of-country emergency medical insurance up to $5 million per insured person, per trip - up to 15 consecutive days.*Trip Interruption
Up to $2,000 per insured person, per trip (maximum of $10,000)*Trip Cancellation
Up to $1,500 per insured person, per trip (maximum of $5,000)*Car Rental Damage & Theft
Rental period of up to 48 consecutive days with an MSRP of up to $65,000*Common Carrier Travel Accident Insurance
Up to $500,000 per insured person*Flight Delay
Up to $500 per trip for all insured persons with a flight delay of over 4 hours*Baggage Delay
Up to $500 per insured person, to a maximum of $1,000 per trip*Lost or Stolen Baggage
Up to $500 per insured person to a maximum of $1,000 per trip*Hotel Burglary Insurance
Up to $1,000 for all insured persons*
Benefits
Details
Airport Lounge - Dragon Pass
Airport lounge access with complimentary membership in Mastercard Travel Pass provided by DragonPass, plus 4 free passes per calendar year.*
Global Data Roaming plan
Get up to 15% off a Global Data Roaming plan and up to 3GB of data without any additional charges with FlexiRoam.*Car Rental Discount
Save up to 20% on National Car Rental and Alamo Rent A Car and up to 5% on Enterprise Rent-A-Car at locations worldwide using the Car Rental Booking tool.* Plus car rental collision/loss damage insurance*Roadside Assistance
Complimentary Roadside Assistance Program*; Including battery boosts, flat-tire change, lockout service and towing.*Discount
Get 20% off admission to Cirque du Soleil shows in Canada, and 15% off resident shows in Las Vegas*Discount
Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
Very GoodAnnual Income
$80,000 personal or $150,000 household
APPLY NOW
on BMO's website
Welcome Bonus
Get up to 25,000 bonus points in your first anniversary!*
Annual Fee
$0
Interest Rates
21.99%* / 23.99%*□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.5/5
The BMO Eclipse Rise Visa is an excellent choice for those who want to earn rewards without paying an annual fee. It offers solid bonus categories like dining, groceries, and bills, and includes rare perks such as mobile device insurance. The card is ideal for newcomers or those looking to build their credit while enjoying the benefits of a no-fee rewards card with simple, everyday earnings. If you frequently spend in the bonus categories, this card provides good value without any added costs.
Pros
- No annual fee
- Impressive bonus categories
- Mobile device insurance
- Generous welcome bonus
- Annual bonus points
- Fuel savings
Cons
- Low base earn rate
- Low point value
Rewards
- 5x points per $2 spent on eligible dining, groceries and recurring bill payments (up to $5,000 spent per category)
- 1x point per $2 spent on all other eligible purchases
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 year
Mobile Device Insurance
$1,000
Benefits
Details
Extra points
2,500 bonus points per year for paying full credit card bill on time for 12 consecutive monthsExtra points
Another 2,500 bonus points for redeeming at least 12,000 points annually towards your statement balance with Pay with PointsDiscount
Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
GoodAnnual Income
N/A
APPLY NOW
on BMO's website
Welcome Bonus
Get up to $2,300 in value including up to 200,000 points. Plus, get 0%s introductory interest rate on Balance transfers for 12 months.
Annual Fee
$599
Interest Rates
21.99% / 23.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660Good
725⁎Very Good
760⁎Excellent
3/5
The BMO Eclipse Visa Infinite Privilege Card is ideal for those who want to maximize rewards on essential categories like travel, dining, groceries, and gas, while enjoying premium benefits. With a generous welcome bonus, lifestyle credit, and comprehensive insurance, this card is designed for frequent travelers who are willing to pay for luxury perks like lounge access and exclusive Visa Infinite privileges. The 25% rewards boost for authorized users adds further value for families or couples who want to rack up points faster.
Pros
- Generous rewards
- Annual lifestyle credit
- Authorized user bonus points
- Comprehensive insurance
- Lounge access
Cons
- High annual fee
- High income requirements
- Low point value
Rewards
- Earn 5x the BMO Rewards points on groceries, dining, drugstore purchases, gas and travel.*
- Get 1 BMO Reward for every $1 spent on everything else.*
Insurance
Coverage
Purchase Protection
120 daysExtended Warranty
triples up to 2 yearsTravel Medical Insurance (64 & under)
$5M up to 22 days/personTravel Medical Insurance (65 to 75)
$5M up to 3 days/personCommon Carrier Travel Accident Insurance
$500,000/personTrip Interruption
$5,000/person, $25,000 tripTrip Cancellation
$2,500/person, $5,000 tripFlight Delay
$1,000Baggage Delay
$500/person, $1K/tripLost or Stolen Baggage
$1,000/person, $2,500/tripHotel Burglary Insurance
$2,500Car Rental Damage & Theft
$85,000 up to 48 daysMobile Device Insurance
$1,000
Benefits
Details
Airport Lounge - Dragon Pass
Visa Airport Companion membership and 6 complimentary airport lounge visits per year
Anniversary Credit
$200 anniversary lifestyle creditExtra points
Earn 25% more points on all purchases when you add an authorized user to your account.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Concierge Services
Visa Infinite Privilege Concierge like having a personal assistant on speed dial
Visa Infinite Exclusive Benefits
Visa Infinite luxury hotel collection, dining series and wine country
Golf Benefit
Troon Rewards Golf benefits like discounts at over 95 resorts and courses around the world plus access to select private clubs across the U.S
Priority Travel
Priority Security Lane, airport parking and valet service discounts at select Canadian airportsDiscount
Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
Very GoodAnnual Income
$150,000 personal or $200,000 household
APPLY NOW
on BMO's website
Welcome Bonus
Get up to $1,150 in value including up to 70,000 Bonus points, monthly streaming statement credit, $50 statement credit, and no annual fee in your first year.*
Annual Fee
$120 $0
Interest Rates
21.99% / 23.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.6/5
This card is ideal for individuals who want to maximize rewards on everyday purchases like dining, groceries, and transit while benefiting from a generous welcome bonus and lifestyle credit. However, the point value and high income requirements may be limiting for some.
Pros
- Generous rewards
- Annual lifestyle credit
- Authorized user bonus points
- first-year fee rebate
Cons
- Lower point value
- High income requirements
- Limited insurance
Rewards
- Earn 5x the BMO Rewards points on groceries, dining, gas and transit.*
- Get 1 BMO Reward for every $1 spent on everything else.*
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 yearMobile Device Insurance
$1,000Common Carrier Travel Accident Insurance
$500,000Travel Medical Insurance (64 & under)
$5M up to 15 daysCar Rental Damage & Theft
$65K up to 48 days
Benefits
Details
Visa Infinite Exclusive Benefits
Exclusive luxury hotel collection, unique dining and wine eventsGolf Benefit
Troon Rewards Golf benefits like discounts at over 95 resorts and courses around the world plus access to select private clubs across the U.SAnniversary Credit
Get a $50 anniversary lifestyle creditConcierge Services
Discount
Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
GoodAnnual Income
$60,000 personal or $100,000 household
Our choice for: Low interest
APPLY NOW
on BMO's website
Welcome Bonus
Get a 0% introductory interest rate on Balance Transfers for 18 months with a 2% transfer fee and no $29 annual fee for the first year.*
Rewards Rate
No Rewards
Annual Fee
$29 $0
Interest Rates
13.99%* / 15.99%*
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.5/5
If you plan to carry a balance on your credit card, this card offers a very low interest rate. However, there are other cards with no annual fee and slightly lower interest rates that you might want to consider as well.
Pros
- Low interest rates
- Balance transfer welcome bonus
Cons
- Annual fee
- Lacks significant benefits
Rewards
No rewards earned on this card
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
Doubled up to 1 year
Benefits
Details
Discount
Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
GoodAnnual Income
N/A
Our choice for: Spending in USD
Welcome Bonus
N/A
Rewards Rate
0%
Annual Fee
$49 USD
Interest Rates
21.99% / 23.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
Pros
- Seamless USD spending
- Potential annual fee rebate
Cons
- No benefits
- Lacks significant coverage
- Rebate has spending requirements
Rewards
- Avoid fluctuating exchange rates. Make your purchases in U.S. dollars and pay your credit card statement in U.S. funds.
- When your purchases total U.S. $3,000 or more in a year, next year's annual fee is rebated to your card.21
- This card does not earn any rewards.
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 year
Eligibility
Credit Score
GoodAnnual Income
N/A
Our choice for: Porter airline travelers
APPLY NOW
on BMO's website
Welcome Bonus
Get up to 40,000 VIPorter points and a 35% off flight voucher.*
Annual Fee
$89 $0
Interest Rates
21.99% / 23.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.8/5
This is one of the only credit cards in Canada that directly earns you VIPorter points and gives you premium travel benefits like priority security screening, early boarding and priority re-accommodation for flight delays on Porter (and its partners) flights. For frequent Porter travelers, this is a great low-fee card that can fast track your VIPorter status and earn even more travel benefits, although the rewards may be a bit lackluster.
Pros
- First-year fee rebate
- Generous welcome bonus
- High value Porter redemptions
Cons
- Low spending caps
- Flight discount spending requirement
- Limited redemption opportunities
Rewards
- Earn 2 points for every $1 spent on eligible Porter purchases via flyporter.com (up to $10,000 in spending annually)
- Earn 1 point for every $1 spent on eligible gas and transportation purchases (up to $3,000 in spending annually combined)
- Earn 1 point for every $1 spent on eligible groceries and dining purchases (up to $5,000 in spending annually combined)
- Earn 1 point for every $1 spent on eligible hotel accommodation purchases (up to $3,000 in spending annually)
- Earn 0.5 points for every $1 spent everywhere else
- Primary cardholders will receive an annual discount of 35% on a Porter flight booking after spending a minimum of $25,000 in eligible purchases. On the anniversary date of your card, the calculation of the purchases will reset to zero and primary cardholders must qualify again for the new annual period (The flight voucher allows up to 3 companions to accompany the primary cardholder at a 35% discount on the flight booking’s base fare).
Insurance
Coverage
Extended Warranty
1 yearPurchase Protection
90 daysTravel Medical Insurance (64 & under)
Up to $5M per insured person, per trip, for 8 days per tripCommon Carrier Travel Accident Insurance
Up to $500,000 per insured personFlight Delay
Up to a maximum of $500 per trip for all insured persons combinedBaggage Delay
Up to $500 per insured person to a maximum of $1,000 per trip for all insured persons combinedLost or Stolen Baggage
Up to $500 per insured person to a maximum of $1,000 per trip for all insured persons combinedHotel Burglary Insurance
Up to $1,000 per occurrence for all insured persons combinedCar Rental Damage & Theft
Rental period up to 48 days, with a Manufacturer’s Suggested Retail Price (MSRP) of up to $65,000
Benefits
Details
Priority Travel
Priority check-in, security, and early boarding for up to 8 companions travelling on the same bookingCar Rental Discount
Save up to 20% on National Car Rental®†† and Alamo Rent A Car®†† and up to 5% on Enterprise Rent-A-Car®†† at locations worldwide using the Car Rental Booking toolDiscount
Get 20% off admission to Cirque du Soleil shows touring Canada* and 15% off resident shows in Las VegasHotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada *Discount
Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
GoodAnnual Income
N/A
Our choice for: Premium card for frequent Porter airline travelers
APPLY NOW
on BMO's website
Welcome Bonus
Get up to 70,000 VIPorter points and a round-trip companion pass.* Plus receive $1,000 in Qualifying Spend.*
Annual Fee
$199 $0
Interest Rates
21.99% / 23.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.5/5
This is easily the best credit card in Canada for frequent Porter airline (and its partners) travelers. Earning 2x VIPorter points on common everyday purchases like groceries, dining and transportation is a massive benefit, allowing you to rack up points really fast and enjoy travel via Porter and it's airline partners. The premium benefits of this card make your travels smooth as you get priority security screening, early boarding and priority re-accommodation for flight delays, one complimentary checked bag, a carry-on bag with every fare type (including Basic), and complimentary PorterClassic seat selection.
Awards & Recognition
Best Airline Loyalty Credit Card
2026
Pros
- First-year fee rebate
- Generous welcome bonus
- Solid everyday earning opportunities
- Impressive Porter redemptions
- Comprehensive coverage
- Valuable travel perks
Cons
- Higher annual fee
- Companion pass spending requirement
- Limited redemption opportunities
- Spending caps
- High income requirements
Rewards
- Earn 3 VIPorter points for every $1 spent on eligible Porter purchases via flyporter.com (up to $20,000 in spending annually)
- Earn 2 VIPorter point for every $1 spent on eligible gas and transportation purchases (up to $5,000 in spending annually combined)
- Earn 2 VIPorter point for every $1 spent on eligible groceries and dining purchases (up to $10,000 in spending annually combined)
- Earn 2 VIPorter point for every $1 spent on eligible hotel accommodation purchases (up to $5,000 in spending annually)
- Earn 1 VIPorter point for every $1 spent everywhere else
- Primary cardholders will receive an annual companion pass after spending a minimum of $50,000 (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) within the first 365 days after the account open date. On the anniversary date of your card, the calculation of the purchases will reset to zero and primary cardholders must qualify again for the new annual period.
Insurance
Coverage
Extended Warranty
1 yearPurchase Protection
90 daysTravel Medical Insurance (64 & under)
Up to $5M per insured person, per trip, for 21 days per tripCommon Carrier Travel Accident Insurance
Up to $500,000 per insured personTrip Cancellation
Up to $1,500 per insured person, per trip (maximum of $5,000 per trip for all insured persons combined)Trip Interruption
$2,000 per insured personFlight Delay
Up to a maximum of $500 per trip for all insured persons combinedBaggage Delay
Up to $500 per insured person, to a maximum of $1,000 per trip for all insured persons combined, for the purchase of essential itemsLost or Stolen Baggage
Up to $500 per insured person to a maximum of $1,000 per trip for all insured persons combinedHotel Burglary Insurance
Up to $1,000 per occurrence for all insured persons combinedCar Rental Damage & Theft
Rental period up to 48 days, with a Manufacturer’s Suggested Retail Price (MSRP) of up to $65,000
Benefits
Details
Airport Lounge - Dragon Pass
Complimentary membership in Mastercard Travel Pass provided by DragonPass. As a member enjoy lounge access for a fee of just US$32 per person, per visit.*.svg?dpl=dpl_2ffHSTvJo1hojctS14hRkmXzJzsG)
Free first checked bag
1 complimentary checked bag as well as 1 complimentary carry-on bag on all Porter fare types up to 8 companions travelling on the same booking
Companion Voucher
A round-trip companion pass per yearPriority Travel
Priority check-in, security, and early boarding for up to 8 companions travelling on the same bookingCar Rental Discount
Save up to 20% on National Car Rental®†† and Alamo Rent A Car®†† and up to 5% on Enterprise Rent-A-Car®†† at locations worldwide using the Car Rental Booking toolHotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada*
Mastercard On-Demand and Subscription Services
Discount
Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
APPLY NOW
on BMO's website
Welcome Bonus
Up to 100,000 bonus BMO Rewards Points ($669 value)[1]
Annual Fee
$149 $0
Interest Rates
18.99% / 23.99%
RECOMMENDED CREDIT SCORE
300Poor
560⁎Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.2/5
BMO’s strongest business points card, with 4x on gas, office supplies, and telecom — categories where most businesses naturally spend. That translates to roughly 2.7% return in those categories, which is competitive. The welcome bonus of up to 100,000 points (~$670 value) and first-year fee rebate make the first year especially strong. You also get airport lounge access and solid travel insurance. The weak spot is the 1.5x base rate on everything else and the annual spending caps on bonus categories. At $149/year, it works well for businesses that spend meaningfully on fuel, supplies, and phone/internet. Less compelling if your spending is spread across categories this card doesn’t bonus.
Pros
- Impressive optimization
- Generous welcome bonus
- First-year fee rebate
- Airport lounge access
- Comprehensive coverage
- Shell fuel discounts
- Additional employee cards
Cons
- High annual fee
- Low base earn rate
- Annual spending caps
- High income requirements
- Low point values
- Additional cardholder fees
- Limited bonus categories
Rewards
- Get 4 points for every $1 you spend on gas, office supplies, cell phone and internet bill payments3,4
- Get 1.5 points for every $1 you spend on all other card purchases3,4
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 yearTrip Interruption
$2,000Trip Cancellation
$2,500Common Carrier Travel Accident Insurance
$500,000Baggage Delay
$500Flight Delay
$500Hotel Burglary Insurance
$1,000Lost or Stolen Baggage
$1,000Personal Effects
$1,000Car Rental Damage & Theft
IncludedCar Rental Accident
$200,000Car Rental Personal Effects
$1,000
Benefits
Details
Gas Discount
Get up to 7 cents off per litre on all your Shell®± fuel – just for being a BMO cardholder[9]Airport Lounge - Dragon Pass
complimentary membership to Mastercard Travel Pass provided by DragonPass, plus 2 free lounge passes a year.
Eligibility
Credit Score
FairAnnual Income
$80,000 personal or $150,000 household
Our choice for: Highest cashback for students
APPLY NOW
on BMO's website
Welcome Bonus
5% cash back for the first 3 months, up to $2,500 in spend
Annual Fee
$0
Interest Rates
21.99% / 23.99%□
RECOMMENDED CREDIT SCORE
300⁎Poor
560⁎Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.8/5
We consider this card to be the best student credit card in Canada for it's competitive cashback rewards (3% on groceries, 1% on recurring bills), no annual fee and a generous welcome bonus. Plus, cashback redemption is flexible so no need to wait a year each time you want to get your cashback paid out.
Pros
- No annual fee
- Solid cashback optimization
- Shell fuel discounts
- Hotel booking discounts
- Entertainment discounts
Cons
- Low base earn rate
- Limited insurance
Rewards
- 3% cash back on grocery purchases (maximum $15 per statement)
- 1% cash back on recurring payments like bills or subscriptions (maximum $5 per statement)
- 0.5% cash back on all other purchases
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 year
Benefits
Details
Car Rental Discount
Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool.Discount
Get 20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas.Hotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.Discount
Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card. Terms apply.
Eligibility
Credit Score
PoorAnnual Income
N/A
Customer Experience
3/5
Though it has an extensive branch network, BMO’s customer feedback remains mixed. On Trustpilot, the bank has a rating of 1.3 out of 5 stars based on over a thousand customer reviews. Common complaints are about “exceptionally poor” customer service with issues surrounding online banking. This is, however, similar to the other major banks in Canada. Customer feedback also suggests that many issues require an in-person branch visit.
Not all feedback is negative for the bank. Several reviewers made note of the knowledge and professionalism of staff members. While BMO does provide the convenience and resources expected from one of Canada’s largest banks, recurring customer complaints weigh on its customer experience score.
Rating Methodology
How We Rate Bank of Montreal (BMO)
Our ratings are based on a comprehensive evaluation of each financial institution across multiple categories. We assess the quality and competitiveness of their products, fees, interest rates, customer experience, and overall value proposition.
Overall Rating
A weighted average reflecting the institution's performance across all evaluated categories.
Product Offerings
Evaluates the breadth and quality of available products including credit cards, savings accounts, and chequing accounts.
Fees & Rates
Compares monthly fees, interest rates, and fee waiver options against industry standards.
Customer Experience
Assesses the quality of customer support, digital banking tools, and overall user experience.
Rating Scale: All ratings are on a scale of 0 to 5, where 5 represents exceptional performance and 0 represents significant concerns. Ratings are reviewed and updated regularly to reflect changes in products, pricing, and services.
Frequently Asked Questions
Yes, you can. BMO allows customers to open many different types of accounts online, though you need to provide all personal information including your identification details and a Social Insurance Number. Some customers may still need to visit a branch depending on the account type.
BMO is the oldest bank in Canada, founded in 1817 in Montreal. Today it is the fourth largest bank in Canada when ranked by size.