Jack Prenter, Founder of Dollarwise
Canada’s best BMO credit cards
The best BMO credit cards are top contenders when it comes to low-interest options and outstanding travel advantages.
Remarkably, about 50% of BMO’s card offerings come without an annual fee.
The diverse range of card attributes ensures there’s likely a perfect fit for everyone, be it a college student aiming to establish a credit history or a frequent traveler.
What is the best BMO credit card?
The best BMO credit card is the BMO CashBack World Elite Mastercard because you get a big 1.5% cashback on eligible purchases, and there’s no limit to how much you can earn. Plus, during your first year, you don’t have to pay the usual yearly fee.
If you travel, you’ll love the free lounge visits at airports and the handy travel insurance. And if your car breaks down? They’ve got you covered with free roadside help.
BMO CashBack World Elite Mastercard
| Annual Fee | $120 |
| Intro Offer | 10% Cashback |
| Annual Rewards | $492 |
Looking for the best credit card from BMO? Check out the BMO CashBack World Elite Mastercard.
Imagine getting 1.5% cash back every time you shop. No more scratching your head over categories or wondering if you’re buying the right stuff. Just spend and save, plain and simple.
The best part? For the first year, there’s no annual fee. That’s $120 you get to keep in your pocket. So you can test-drive all the card’s perks without that extra cost.
Love to travel? This card’s a game changer. Say goodbye to boring layovers and say hello to comfy airport lounges. With this card, you get four free lounge passes every year.
So you can chill, grab a bite, or even catch a quick nap before your flight. And if things go wrong during your travels – lost bags, canceled flights – the card’s got insurance to help sort things out.
If you’re on the road and your car acts up, don’t stress. The card comes with free roadside help. Whether it’s a flat tire or a dead battery, help is just a phone call away.
One more cool thing – there’s no cap on how much cashback you can earn. Spend a lot, save a lot. It’s that simple. That’s why we think this is the best BMO credit card currently.
Best BMO Visa
The best BMO Visa is the BMO Eclipse Visa Infinite Card because it offers a high rate of 5 points for every dollar spent on dining, groceries, gas, and transit purchases.
Additionally, every year you get a $50 lifestyle credit to use however you want.
Travelers will appreciate the included comprehensive travel and medical insurance, ensuring peace of mind on trips. Plus, with its mobile device insurance, it also covers potential damages to your phone or tablet.
BMO Eclipse Visa Infinite
| Annual Fee | $120 |
| Intro Offer | 60,000 points |
| Annual Rewards | $386 |
If you’re on the hunt for a credit card that truly rewards your lifestyle, the BMO eclipse Visa Infinite Card should be at the top of your list. From the get-go, it welcomes you with a hefty bonus, giving you the opportunity to earn up to 60,000 BMO Rewards points in just the first year. Imagine all the amazing things you can redeem with that stash!
Where the card truly shines is in its everyday rewards. Every time you fill up your car, dine out, grab groceries, or commute, you’re raking in 5X the points. That’s right, categories like groceries, dining, gas, and transit aren’t just essentials; they’re your ticket to accumulating points faster than ever.
But life isn’t always about spending and earning. Sometimes, things go awry, like when your mobile device takes a tumble. The BMO eclipse Visa Infinite Card has got you covered there too. With coverage of up to $1,000, it helps ensure that accidents don’t end up being costly affairs.
Travelers, whether occasional or frequent, will find plenty to love. The card comes loaded with essential travel benefits. Worried about medical emergencies while on a trip? The included travel medical insurance provides peace of mind.
And for those who love exploring destinations in the comfort of a rental car, the card offers a car rental collision/loss damage waiver, making sure your adventures remain worry-free.
Best BMO Air Miles Credit Card
The best Air Miles credit card from BMO is the BMO AIR MILES World Elite Mastercard because it offers an average of 1.35% earn rate per dollar spent, allowing you to accumulate Air Miles faster than other options. It also provides premium benefits like complimentary airport lounge access and extensive travel insurance.
BMO AIR MILES World Elite Mastercard
| Annual Fee | $120 |
| Intro Offer | 3,000 Air Miles |
| Annual Rewards | $256 |
If you’re an avid traveler or simply love the idea of earning while you spend, the BMO AIR MILES World Elite Mastercard is a compelling choice that’s hard to overlook. Right out of the gate, earn a whopping 3,000 Air Miles after making your first purchase.
One of the standout features of this card is the fee-free first year it offers. The usual annual fee of $120 is completely waived, allowing you to enjoy all the premium benefits without that initial outlay.
Frequent flyers will appreciate the comprehensive travel insurance coverage that comes with it.
Plus, the luxury of airport lounges becomes a reality with the free membership in MasterCard Airport Experiences by LoungeKey.
Best BMO Business Credit Card
The best BMO business card is the BMO AIR MILES World Elite Business Mastercard because you get a welcome bonus of 3,000 AIR MILES. It offers a competitive rate, yielding up to 3 AIR MILES for every $12 spent. Additionally, cardholders benefit from 13 distinct types of insurance.
BMO AIR MILES World Elite Business Mastercard
| Annual Fee | $149 |
| Intro Offer | 3,000 Air Miles |
| Annual Rewards | $222 |
The BMO AIR MILES World Elite Business Mastercard makes spending worthwhile. For every $12 you spend, you get up to 3 AIR MILES.
And if you’re new to the card? There’s a welcome gift of 3,000 AIR MILES waiting for you.
Traveling is a bit easier, too, because the card comes with good travel insurance. So if something goes wrong on a trip, there’s a backup plan.
Plus, with the Air Miles Onyx status, card users get some extra perks. It’s a card that tries to give a bit more for what you spend and do.
BMO Ascend World Elite MasterCard
The BMO Ascend World Elite MasterCard is a credit card that offers several benefits for those who enjoy traveling and dining out. When you make your first purchase with the card, you receive 10,000 BMO Rewards points.
For every dollar spent on travel, dining, and entertainment, cardholders earn 2 points. On the other hand, almost all other purchases will get you 1.78 points per dollar spent. One of the standout features is the lack of foreign exchange fees on worldwide purchases.
This card also provides comprehensive travel insurance, making your trips safer and more secure. Additionally, cardholders can enjoy exclusive perks such as airport lounge access and a free membership in MasterCard’s Airport Experiences program.
The accumulated points can be used for flights, merchandise, or even converted to cash back.
However, there are a few drawbacks. After the first year, there’s an annual fee of $120. To qualify for the card, you need an individual income of $80,000 or a household income of $150,000. The 1.78 points earn rate, which applies to most everyday purchases, is on the lower side.
Furthermore, there are only limited categories where you can earn extra points. Some frequent travelers might also find that the BMO Rewards program doesn’t offer the best value for them. Lastly, there aren’t any special introductory interest rates for balance transfers or new purchases.
BMO Cashback MasterCard
The BMO Cashback MasterCard is a popular choice for those who frequently shop for groceries. With no annual fee, it offers a generous 3% cashback on grocery purchases.
Additionally, you can earn 1% cashback on recurring bill payments and 0.5% on all other purchases. Not only that, this card provides added perks like purchase protection, extended warranty coverage, and exclusive access to MasterCard’s Priceless Experiences.
However, it’s not without its drawbacks. To be eligible, you need to have an annual income of at least $15,000. The cashback rate for non-grocery and non-bill purchases is on the lower side. Travelers should note that there’s a 2.5% foreign currency conversion fee.
Moreover, the card is limited to BMO customers only. Some might also find that other cashback cards in the market offer better earning rates.
BMO Preferred Rate MasterCard
The BMO Preferred Rate MasterCard is an appealing choice for many due to its competitive interest rate. It boasts an annual percentage rate (APR) of 12.99% on purchases, which is lower than several other credit cards out there.
One of its standout features is that cardholders don’t need to pay an annual fee, saving them money each year. For those looking to transfer balances from other cards, there’s a promotional offer: an enticing 3.99% interest rate for the first 9 months.
In addition, when you use this card to shop, there’s a sense of security. It provides 90-day insurance against theft or damage for new purchases. Moreover, if you buy something with a warranty, this card can double that warranty period, offering up to an extra year of coverage.
However, it’s not all sunshine and rainbows. The BMO Preferred Rate MasterCard has its limitations. For instance, if you’re someone who enjoys collecting points or cash back, this card might not be for you as it lacks a robust rewards program.
Also, new cardholders shouldn’t expect any signup bonuses, which many other cards offer. Travelers, too, might want to think twice.
The card imposes a 2.5% fee on foreign transactions, and it doesn’t provide any specific perks for those who frequently jet off to new destinations. All in all, while it has several advantages, it might not be the best fit for everyone.
BMO Air Miles MasterCard
The BMO Air Miles MasterCard is a no-annual-fee credit card that lets you earn 1 Air Mile for every $20 you spend. New cardholders can enjoy a welcome bonus of up to 800 Air Miles.
Additionally, when you shop at participating partners, you can earn 3 times the Air Miles, giving you a chance to accumulate points faster. The card also offers purchase protection and an extended warranty.
For those who want more, there’s an option to get MasterInclusive™ travel insurance. However, it’s worth noting that this card’s earn rate is lower than some other Air Miles credit cards. It doesn’t come with travel insurance, and if you’re not into collecting Air Miles, the benefits might seem limited.
This card may not be the best choice for those looking for flexible reward redemption options. Also, if you make purchases in foreign currencies, be prepared for a 2.5% fee on those transactions.
BMO Air Miles MasterCard for Students
The BMO Air Miles MasterCard for Students is a popular choice for students, primarily because it comes with no annual fee. For every $20 you spend, you earn 1 Air Mile. What’s even better is that when you shop at certain partner stores, you get to double these Air Miles.
If you’re a new cardholder, you’ll receive a welcome bonus of 800 Air Miles, which is a nice head start. This card also offers purchase protection and an extended warranty on items bought with it. Plus, students can benefit from special perks and offers tailored just for them.
However, it’s essential to be aware of some of the card’s limitations. Your rewards are limited to Air Miles, which might not be as flexible as other reward options.
If you don’t pay off your balance in full, you’ll face a high interest rate. To get this card, you need a good credit score. It might not be the best choice for students who travel abroad often, as there’s a 2.5% fee on foreign transactions.
Lastly, if you’re looking for travel-related perks like lounge access or travel insurance, this card doesn’t offer those.
BMO Cashback Business MasterCard
The BMO Cashback Business MasterCard is a popular choice for businesses that are looking for a credit card with no annual fee. It offers an attractive 1.5% cashback rate on eligible purchases, and the best part is that there’s no cap on how much cashback you can earn.
One of its standout features is the inclusion of the MasterCard Easy Savings Program, which can help businesses save even more. Additionally, cardholders get the benefit of purchase protection and an extended warranty.
The card also provides access to BMO’s suite of Cash Management Tools, making financial tracking and management easier. For businesses that have multiple employees making purchases, there’s an option to get Employee Cards that come with controlled spending limits, ensuring better financial oversight.
However, there are a few downsides to consider. The card has a relatively high-interest rate, with 19.99% on purchases and 22.99% on cash advances.
International business owners should also note that there’s a 2.5% fee on foreign currency transactions. When it comes to redeeming rewards, you’re limited to cashback only, which might not be the best fit for businesses that are looking for travel rewards or other types of benefits.
Getting approved for the card requires a good credit score, and unfortunately, there aren’t any introductory or promotional offers available.
So, while the BMO Cashback Business MasterCard has several perks, it’s essential to weigh the pros and cons to determine if it’s the right fit for your business.
BMO Air Miles No Fee Business MasterCard
The BMO Air Miles No Fee Business MasterCard is a card tailored for businesses looking to earn AIR MILES without the burden of an annual fee.
On every $20 spent, cardholders earn 1 AIR MILE, with the advantage of doubling these rewards when purchasing from AIR MILES partner businesses. As a cherry on top, there’s a welcome bonus that kicks in after the first purchase.
This card also offers some peace of mind, as it comes with both purchase protection and an extended warranty. Additionally, businesses can benefit from the MasterCard Easy Savings program.
However, there are some drawbacks. The card’s acceptance might be limited when you travel overseas because of its MasterCard affiliation.
The rate at which you earn AIR MILES is relatively low for transactions outside of partner businesses. For those who travel frequently, the travel insurance coverage might not be comprehensive enough.
There are no offers for balance transfers, and to be eligible, one must have a good to excellent credit score. Lastly, the rewards program is exclusively focused on the AIR MILES, which might not be everyone’s preference.
BMO World Elite Business MasterCard
The BMO World Elite Business MasterCard is a rewarding option for businesses. When you use this card, you earn 5 BMO Rewards points for every dollar spent on gas, office supplies, and payments for cell phones and the internet.
For other eligible business expenses, you’ll earn 3 points per dollar. New cardholders get a boost with a welcome bonus of 35,000 points once they meet the spending criteria. Travelers will appreciate the annual $200 credit that can be used for flights, hotels, or car rentals.
The card also offers a complimentary LoungeKey membership, granting two free passes to airport lounges each year. If you’re making purchases outside of Canada, there are no foreign transaction fees, which can lead to savings.
The card also includes extensive travel and purchase insurance, ensuring your peace of mind. If you have employees, you can get additional cards for them at no extra cost.
However, the card does come with an annual fee of $175. To be eligible for this card, there’s a relatively high income requirement, with individuals needing to earn at least $80,000 annually or households earning $150,000.
For those who travel often, the limited two free LoungeKey passes may not offer the best value. Lastly, the higher earning rates are limited to specific business categories.
BMO Rewards MasterCard
The BMO Rewards MasterCard is a no-annual-fee credit card that automatically enrolls users in the BMO Rewards program. For every dollar spent using this card, users earn 1 BMO Rewards point, and they can even double their points when they spend on travel, dining, or entertainment.
A bonus is that you can get additional cardholders without any extra cost. As for protection, the card offers purchase protection and an extended warranty.
Those who travel can opt for travel insurance at a special discounted rate. Furthermore, the card’s MasterCard backing means it’s accepted almost everywhere globally.
However, the card does have its drawbacks. The points you earn can only be redeemed through BMO Rewards, limiting flexibility.
When compared to some other cards, its rewards earning rate is on the lower side. It doesn’t come with comprehensive travel insurance, and there aren’t any exclusive benefits or perks for cardholders.
Moreover, to qualify, one needs to have a minimum annual income of $15,000. Lastly, some people might prefer getting cash back instead of collecting reward points.
BMO CashBack MasterCard for Students
The BMO CashBack MasterCard for Students is a good choice for those looking to start their credit journey without any annual fees. This card lets students earn 1% cashback on all their purchases, which is a simple and straightforward reward system.
Additionally, for the first three months, there’s an attractive offer where students can earn a boosted 5% cashback rate on all purchases, although this is capped at $100.
Besides cashback, cardholders also benefit from purchase protection and extended warranty on items bought with the card. Plus, there’s an added perk of getting discounts at certain retailers through MasterCard’s Priceless Cities program.
However, there are a few things to consider. When compared to other student credit cards, the BMO CashBack MasterCard’s 1% cashback rate might seem a bit low.
There aren’t any bonus categories where students can earn a higher cashback rate, which some might find limiting. Moreover, it doesn’t come with the extensive perks and benefits that premium cards offer.
Lastly, if you’re someone who loves to travel or is looking for travel insurance coverage, this card might not be the best fit as it doesn’t offer any travel rewards or insurance.
BMO eclipse Visa Infinite Privilege Card
The BMO Eclipse Visa Infinite Privilege Card is a credit card that offers a range of benefits for those who spend on dining, groceries, gas, travel, and drugstore purchases.
Cardholders can earn a generous 5 BMO Rewards points for every dollar spent on dining and groceries. For gas, travel, and drugstore expenses, they’ll earn 2 points per dollar, and 1 point per dollar on all other purchases.
If a cardholder spends at least $5,500 in a month, they receive a 25% boost in points. Additionally, this card offers travel enthusiasts a complimentary Priority Pass membership, which includes 6 free lounge visits each year.
Users also benefit from a comprehensive travel insurance package and an annual travel credit of $200.
However, there are some drawbacks to consider. The card carries a high annual fee of $499. It’s also not accessible to everyone, as it requires a minimum personal income of $150,000 or a household income of $200,000.
For international purchases, there’s a foreign transaction fee of 2.5%. Moreover, if travel rewards don’t appeal to you, the card’s value diminishes.
How did we rank the best BMO credit cards?
We collected an enormous amount of data for every credit card in our system, with 100+ pieces of data for each card.
Using this data, and what we believe is an average breakdown of monthly spending habits, we’re able to predict the rewards that you would earn using each credit card. We then consider other reviews, our personal experience and the commission that we earn on referrals to decide how to rank them.
Factors in our data include:
- rewards
- annual fees
- welcome bonuses
- interest rates
- perks
- insurance
Our goal is to be as impartial as possible and as a business the referral fees we earn do play a small role in our rankings, or whether a card is included on the site at all.