This credit card is for you, if...
… you prefer savings over extras.
...you want easy access to cost-effective credit.
...you want a credit card with no annual fee.
The BMO Preferred Rate MasterCard®* also gets you:
Fees and Rates:
- No Annual fee
- 17.5% Interest rate
Want no frills, just savings? The BMO Preferred Rate MasterCard gives you our biggest savings with no annual fee and a lower interest rate than most other credit cards. Our lower rate means it will cost less if you choose to free up cash for more urgent needs by carrying a balance.
- Pay no annual fee
- Enjoy our lowest interest rate: 17.5% (with no annual fee)1
- Get free extended warranty and purchase protection with your BMO MasterCard:
Items bought with your MasterCard are automatically insured against theft for 90 days. And you save the cost of buying extended warranty insurance – you're already covered2
- Enjoy free Zero Dollar Liability protection for both theft and fraudulent use of your credit card3
- Reduce your credit card interest charges even further from 17.5% to 11.9% with our Low Interest Rate Option ($20/year)4
- FREE additional credit cards
- 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.
- Get added protection – items bought with your MasterCard are automatically insured against theft or damage for 90 days from date of purchase.
Zero Dollar Liability
- In case the unexpected should happen, enjoy free protection from both theft and the fraudulent use of your credit card. If your card is used without your authorization, you will not be liable if you notify us within 24 hours (among other criteria).
If your card is used without your authorization, you will not be liable if: you did not knowingly contribute to the unauthorized use; you used reasonable care to keep your card safe from loss, theft or misuse; you kept your PIN confidential and separate from your card; you notify us by telephone within 24 hours if you learn of the loss, theft or misuse of your card, or if you know or suspect that someone else knows your PIN; there has not been more than one unauthorized use of your card in the last 12 months, and your account is in good standing. If you don't meet these criteria, you will be liable for all charges incurred in connection with the unauthorized use.
Help Around the World and Lost or Stolen Card Replacement Funds from MasterCard Global Service®
Enjoy peace of mind when traveling around the world. You can call us 24 hours a day, 365 days a year and we'll connect you with a representative who speaks your language, and can help with:
- Lost or stolen credit cards
- Emergency replacement cards or up to $1,000 in emergency funds
- Locate an ATM, and more
To save you time, here's a convenient page of resources that outlines everything you need to know about your BMO Preferred Rate MasterCard terms, costs, cardholder rights and benefits.Important Information on Rates and Fees
Key information about your BMO Preferred Rate MasterCard, such as the latest fees, interest rates, grace period, minimum payment, foreign currency conversion, and more.
Billing and Rewards Pricing Policy
Find out about when and how fees are applied to your BMO Preferred Rate MasterCard account, along with other pricing details associated with your card.
A detailed explanation of your rights and responsibilities as a BMO MasterCard cardholder.
A detailed explanation of the specific rules and provisions (including key features and insurance) that govern your BMO Preferred Rate MasterCard.
- Be a permanent Canadian resident
- Have not declared bankruptcy in the past seven years
- Have reached the age of majority in the province in which you live
(18 yrs in AB, MB, ON, PE, QC, SK. 19 yrs all others)