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6 Best BMO Mastercards in Canada 2024

BMO Mastercards are renowned for their innovative perks, competitive interest rates, and a spectrum of benefits that cater to various lifestyles. Whether you are a frequent traveler, a savvy shopper, or someone focused on building credit, BMO has designed Mastercards that align with your financial goals. In this comprehensive review, we will navigate through the distinctive attributes of the best BMO Mastercards, shedding light on their rewards programs, travel benefits, security features, and more.

Join us on this journey as we uncover the features that set the best BMO Mastercards apart from the rest, helping you make an informed decision that suits your individual preferences and financial aspirations.

BMO Ascend World Elite Mastercard

bmo ascend world elite mastercard
  • $150 annual fee, 20.99% for purchases, 23.99% for cash advances
    (21.99% for Quebec residents)
  • Welcome Offer: Receive up to 60,000 points and enjoy the annual fee waived in the first year for both the primary cardholder and authorized users.
  • A minimum annual income of $80,000 for individuals or $150,000 for households is required.

Key Features

  • Earn 5 times the points for every $1 spent on eligible travel purchases.
  • Earn 3 times the points for every $1 spent on eligible dining purchases.
  • Earn 3 times the points for every $1 spent on eligible entertainment purchases.
  • Earn 3 times the points for every $1 spent on recurring bill payments.
  • Minimum $80,000 (individual) or $150,000 (household) annual income is required.
  • $150 annual fee. The annual fee is waived in the first year

Additional Benefits of BMO Ascend World Elite Mastercard

  • Accelerate your accumulation of BMO Rewards points by adding another cardholder for just $50 a year.
  • Gain confidence in your purchases with extended warranty coverage and purchase protection.
  • Benefit from complimentary 24-hour access to our experienced concierge staff.
  • Save up to 25% on rentals at participating National Car Rental and Alamo Rent-a-Car locations.
  • Receive a 15% discount on admission to Cirque du Soleil shows touring Canada, and enjoy a 20% discount on resident shows in Las Vegas.

BMO CashBack  Mastercard

bmo cashback mastercard 276x181 desktop

Experience the highest cash back on groceries in Canada without the burden of an annual fee*

  • This claim is supported by a comparison of the non-promotional grocery rewards earn rate on cash-back credit cards with no annual fee as of December 6, 2023.
  • Welcome Offer: Receive up to 5% cash back in your initial 3 months and benefit from a 0.99% introductory interest rate on Balance Transfers for the first 9 months, accompanied by a 2% transfer fee.

Key Features

  • Earn 3% cash back on grocery purchases, allowing you to accumulate more rewards on your favorite foods and essential items.
  • Earn 1% cash back on recurring bill payments, including streaming services, subscriptions, or monthly utilities.
  • Receive 0.5% cash back on all other purchases, ensuring you earn rewards every time you spend.

Additional Benefits of BMO CashBack  Mastercard

  • Boost your cashback earnings by adding another cardholder for free.
  • Enjoy shopping with confidence through extended warranty and purchase protection.
  • Save up to 25% on rentals at participating National Car Rental and Alamo Rent-a-Car locations.
  • Receive a 15% discount on admission to Cirque du Soleil shows touring Canada48, and enjoy a 20% discount on resident shows in Las Vegas.

BMO Preferred Rate Mastercard

bmo preferred rate
  • $29 annual fee, 13.99% for purchases, 15.99% for cash advances
  • Welcome Offer: Enjoy a 0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee∆, and we’ll waive the $29 annual fee for the first year.

Additional benefits of BMO Preferred Rate Mastercard

  • Maximize your savings with a Performance Chequing account. Receive an annual fee rebate of $29 every year when you also have a BMO Performance Chequing account.
  • Add an additional cardholder at no cost.
  • Benefit from extended warranty and purchase protection.
  • Access 24/7 emergency support worldwide.

BMO AIR MILES Mastercard

bmo air miles mastercard
  • $0 annual fee, 20.99% for purchases, 22.99% for cash advances
    (21.99% for Quebec residents)
  • Welcome Offer: Receive 800 AIR MILES Bonus Miles (equivalent to $80 towards purchases with AIR MILES Cash) and benefit from a 0.99% introductory interest rate on balance transfers for 9 months with a 2% transfer fee.

Key Features

  • Earn 3 times the Miles for every $25 spent at participating AIR MILES Partners.
  • Earn double the Miles with 2x the Miles at any eligible grocery store – that’s 2 Miles for every $25 spent.
  • Take advantage of the BMO & Shell Go+ Double the Miles Offer. Double your Shell Go+ Miles on eligible fuel and in-store purchases, giving you 4 times the Miles!

BMO Prepaid Mastercard

bmo prepaid travel mastercard 2
  • $6.95 annual fee, No interest rate for purchases, No interest rate for cash advances
  • Use your card at over 30 million locations in the U.S., Canada, and worldwide. Access cash at over a million ATMs.

Additional benefits of BMO Prepaid Mastercard

  • Benefit from extended warranty and purchase protection.
  • Make purchases anywhere Mastercard is accepted and receive protection against unauthorized use, making it a safer alternative to carrying cash.
  • Use your prepaid credit card at any of the 30 million locations where Mastercard is accepted, and access cash at over a million ATMs.

BMO Student Cash Back Mastercard

bmo cashback mastercard 276x181 desktop 1
  • $0 annual fee, 20.99% for purchases, 22.99% for cash advances
    (21.99% for Quebec residents)
  • Welcome Offer: Earn up to 5% cash back in your first 3 months.

Key Features

  • Earn 3% cash back on grocery purchases, allowing you to accumulate more rewards whether you’re stocking your kitchen or mini-fridge.
  • Earn 1% cash back on recurring bill payments, including mobile phones, streaming services, or subscriptions.
  • Earn cash back on all other purchases, so every time you spend, you earn rewards.

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