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BMO Rewards® Mastercard®
Credit cards

BMO Rewards® Mastercard®

Updated 01.12.2022

About BMO Rewards® Mastercard®

A BMO Rewards® Mastercard® is a no-fee credit card providing access to the BMO Rewards program. Along with reward-earning opportunities, this credit card provides discounts at BMO’s partner car rental agencies.

From time to time, there are welcome offers for a BMO Rewards® Mastercard® card at BMO, rewarding you with extra BMO Rewards points for spending certain amounts within a specific period and providing a lowered interest rate on balance transfers for a limited time.

BMO Rewards® Mastercard® features

A BMO Rewards® Mastercard® credit card features a 20.99% interest rate on purchases and a 22.99% interest rate on cash advances (21.99% for Quebec residents). With limited-time offers for new applicants, you can get a lowered interest rate on balance transfers for the first several months.

There is no annual fee for a BMO Rewards® Mastercard® credit card.

Limited-time offers for new BMO Rewards® Mastercard® applicants allow you to earn bonus BMO Rewards points for meeting the spending requirements within a given period. 

Along with introductory rewards, you can earn regular rewards for your everyday purchases. That is, every $1 spent with your BMO Rewards® Mastercard® credit card will bring you 1 BMO Rewards point.

The redemption opportunities for your BMO Rewards points include the following:

  • Booking flights, hotels, car rentals, vacation packages, and cruises (with flight fees and taxes included)

  • Buying merchandise and gift cards

  • Making a contribution to a BMO savings or investment account 

  • Applying points directly to eligible purchases

BMO Rewards® Mastercard® cardholders can get discounts at BMO’s partner car rentals, such as National Car Rental and Alamo Rent a Car.

With a BMO Rewards® Mastercard® credit card, you get the following insurance coverages:

  • Up to 90-day purchase protection against theft or damage

  • Extended warranty coverage increasing the original manufacturer’s warranty by up to 1 year

Pros and cons

The advantages of a BMO Rewards® Mastercard® credit card include the following:

  • A zero annual fee

  • Discounts at BMO’s partner merchants 

  • An opportunity to redeem BMO Rewards for travel costs, including flight fees and taxes

  • No yearly minimum income requirements to apply

  • Contactless payment through digital wallets

  • Credit card protection capabilities (the Mastercard Zero Liability Protection policy and ID Theft Protection™)

Here are the disadvantages to keep in mind:

  • Few insurance coverages included

  • The lack of exclusive benefits from Mastercard

How to apply for a BMO Rewards® Mastercard®

BMO accepts applications for a BMO Rewards® Mastercard® credit card online. To proceed, hit the “Apply now” button on the credit card description page and specify if you already have a BMO debit card and a Canadian address. Then, provide the following applicant information:

  • Your first name

  • Your middle name (optional)

  • Your last name

  • Your date of birth

  • Your phone number

  • Your address

  • Your housing status

  • Your monthly payment

  • Month and year since you live there

  • Your social insurance number (optional)

  • Your employment status

  • Your occupation category

  • Your position

  • The company name

  • Month and year since you work there

  • Work phone number

  • Your sources of income

  • Whether you want to add another cardholder

  • Whether you want to add Optional BMO Credit Card Balance Protection Enhanced

Then, review the summary of your application, agree to the terms and conditions, and click “Confirm & apply” to complete your application.

Applying for a BMO Rewards® Mastercard® credit card involves no minimum annual income requirements.

Do BMO Rewards points expire?

As long as your BMO Rewards® Mastercard® credit card account is in good standing, your BMO Rewards points won’t expire.

What happens to my BMO Rewards points in case of the credit card account cancellation?

In case of a canceled credit card account, you will have 90 days to:

  • Redeem your unused points 

  • Reinstate the points by either reinstating the account or opening a new one and linking the BMO Rewards points account (previously attached to the canceled credit card account) to the new account

How to apply BMO Rewards points towards purchases?

To apply your BMO Rewards points towards purchases, sign in to your BMO Rewards account with your BMO Online banking login credentials through the web interface of the BMO Mobile Banking app. Then, go to the “Pay with Points” section, browse your transaction history, choose the purchase you want to redeem your BMO Rewards points for, and specify the number of points to redeem.

Rate
i

Effective interest rate on the product

21.99% - 22.99%

Top offers of the February 2023

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