BMO Preferred Rate Mastercard

First-year $29 annual fee refund for new accounts; reinstatements, product transfers and former cardholders reopening are excluded. Offer can change without notice.

Applications from June 2, 2026: eligible CAD transfers posted during the first 18 statement periods receive 0% until that period ends; 2% fee, minimum transfer $100. BMO balances excluded. Good standing required. Borrowing savings are not estimated.

Available in Quebec with the same standard 13.99% purchase and 15.99% advance APRs. Quebec minimum payments generally use 5% and a $10 floor, subject to installments, arrears and overlimit amounts. Several service fees are exempt; excess payments prioritize higher-rate debt.

2.5% conversion charge on purchases and refunds; a refund does not recover the original conversion charge. Network exchange rates may differ.

Eligible fully charged personal purchases: 90-day theft/damage protection and warranty extension up to one year. Combined lifetime limit $60,000/account; exclusions and registration rules apply.

It depends on whether the extra rewards and benefits you actually use outweigh the $29 annual fee. Use your spending to compare the ongoing value after fees.

The published foreign transaction fee is 2.5%. Exchange rates and other applicable charges can still affect your cost. See the issuer’s terms.

We match eligible spending to each card’s reward rules, account for spending limits and subtract fees. You can check the breakdown and adjust assumptions. Welcome offers and ongoing rewards are shown separately.