BMO Rewards Mastercard
Annual Fee
$0.00
Interest Rate
19.99%
Balance Transfer
1.99%*
Cash Advance
22.99%
Credit Score
Good
Rewards
1.00%*
- Welcome Offer: Get up to 20,000 BMO Rewards welcome points
- Get a 1.99% introductory interest rate on Balance Transfers for 9 months, 1% fee applies to balance amounts transferred.
- Get 1 BMO Rewards point for every $1 spent.
- Earn 2x BMO Rewards points at participating National Car Rental and Alamo Rent A Car locations.
- Get up to 25% off your next car rental at National Car Rental and Alamo Rent A Car locations worldwide.
- Earn faster with additional cardholders
- Redeem points for travel, merchandise, gift cards or charitable donations
- Dining and Entertainment Reservations and Recommendations
- Extended Warranty: save the cost of buying optional extended warranty insurance on your next purchase by paying with your BMO credit card. This coverage doubles the original manufacturer’s warranty period up to a maximum of one additional year.
- Purchase Protection: get added protection – items bought with your card are automatically insured against theft or damage for 90 days from date of purchase.
You must be a Canadian resident
You must be the age of majority in your province/territory of residence.
Summary
The BMO Rewards Mastercard allows its holders to earn BMO Rewards Points to redeem for merchandise, gift cards or charitable donations, or to pay down their credit card balance. This card comes with a welcome offer of 20,000 points and a 1.99% introductory interest rate on Balance Transfers for the first 9 months!
Our Review
BMO Rewards Mastercard
The BMO Rewards Mastercard allows its holders to earn BMO Rewards Points for all their purchases, to redeem for travel rewards, merchandise, gift cards or charitable donations, or to pay down their credit card balance. Although this card is geared towards travel rewards, it’s important to note that it doesn’t include travel insurance coverage unlike many travel cards. However, the card comes with no annual fee, and offers perks such as rental car discounts, purchase protection and extended warranty. A big benefit to this card is the welcome offer: not only do you get 20,000 points upon becoming a member, but you may also benefit from an introductory interest rate on Balance Transfers of 1.99% for the first 9 months.This card comes with a welcome offer of 20,000 points and a 1.99% introductory interest rate on Balance Transfers for the first 9 months! All in all, this card is a decent no-fee option, but its lack of travel insurance coverage does make it less competitive as a travel rewards card.
As per our rating system, this card scored 18/25 on rewards, 18/25 on interest rates and balance transfers, 10/25 on perks and insurance, and 25/25 on annual fees. Therefore, the total smart score of this card is 71/100.
Pros
- Welcome Offer: Get up to 20,000 BMO Rewards welcome points
- No annual fee
- Get a 1.99% introductory interest rate on Balance Transfers for 9 months, 1% fee applies to balance amounts transferred.
- Get 1 BMO Rewards point for every $1 spent.
- Earn 2x BMO Rewards points at participating National Car Rental and Alamo Rent A Car locations.
- Get up to 25% off your next car rental at National Car Rental and Alamo Rent A Car locations worldwide.
- Earn faster with additional cardholders
- Redeem points for merchandise, gift cards or charitable donations
- Travel rewards can be redeemed with no blackout periods or airline restrictions.
- Dining and Entertainment Reservations and Recommendations
Cons
- This card does not offer travel insurance coverage.
- Redeeming points for merchandise will cost a lot more points relative to the value of the reward.