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HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

This credit card is for you, if...

  • … you prefer savings over extras.

  • want easy access to cost-effective credit.

  • want a credit card with no annual fee.

The BMO Preferred Rate MasterCard®* also gets you:

  • Our lowest no-fee interest rate of 17.5%1

  • Free extended warranty and purchase protection2

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

Additional options:

  • 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

Feel protected wherever you are — with the exclusive insurance and protection that comes with your BMO Preferred Rate MasterCard:

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.
Download insurance certificate (PDF) for full-coverage details.

Purchase Protection

  • Get added protection – items bought with your MasterCard are automatically insured against theft or damage for 90 days from date of purchase.
Download insurance certificate (PDF) for full-coverage details.

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).

    Show criteria

Help Around the World and Lost or Stolen Card Replacement Funds from MasterCard Global Service®

Enjoy peace of mind when travelling 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.

Cardholder Agreement
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.

Ready to apply?

5 easy steps, only 5 minutes, safe & secure
In person
Make an appointment at your local branch
  • Call 1-800-263-2263
    Mon-Sat: 8a.m. - 12a.m. (ET)
    Sun: 10a.m. - 12a.m. (ET)
  • Lost or stolen card?
  • Find a branch near you
BMO MasterCard Eligibility Criteria
  • 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)