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BMO Preferred Rate Mastercard® Review
The Bottom Line
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.
Our choice for: Low interest
APPLY NOW
on BMO's website
Welcome Bonus
0.99% interest rate on balance transfers for 9 months*
Rewards Rate
No Rewards
Annual Fee
$29
Interest Rates
13.99%* / 15.99%*
Rewards
No rewards earned on this card
Insurance
Coverage
Purchase Protection
90 days
Extended Warranty
Doubled up to 1 year
Eligibility
Credit Score
GoodAnnual Income
N/A
**Terms and conditions apply.
Each balance transfer is subject to a fee of 2% which will be charged to your account on the date the balance transfer is posted to your Account.
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. Check here for full details and current product information.
Card Details
Interest Rates
Purchase APR
13.99%*
Cash Advance APR
15.99%*
Balance Transfer APR
15.99%*
Promotional Balance Transfer Rate
Promotional Rate
0.99%*
Promotional Period
9 months*
Transfer Fee
2%⁕
* Terms and conditions apply. Each balance transfer is subject to a fee of 2% which will be charged to your account on the date the balance transfer is posted to your Account.
Fees
Annual Fee
$29
Additional Cards
$0
Eligibility
Minimum Individual Income
N/A
Minimum Household Income
N/A
Credit Score Estimate
Good
Type
Card Type
Credit
Reward Type
None
Pros & Cons
Pros
- Low interest rate
- Nice welcome offer for balance transfer
Cons
- Annual fee while there are similar cards that don't have that fee with them
- No benefits other than the most basic purchase protection and extended warranty
APPLY NOW
on BMO's website