The 7 Best BMO Credit Cards in Canada

Best BMO Credit Cards in Canada
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    BMO is renowned for its extensive range of credit card options designed to meet the diverse needs of Canadian consumers. Whether you’re seeking the best travel credit card, cash back, or low-interest rates, BMO has curated a selection of credit cards that cater to every lifestyle and financial goal.

    In this comprehensive overview, we will navigate through the top BMO credit cards, highlighting their unique features, benefits, and advantages. Discover how BMO’s credit card offerings empower cardholders with convenient and secure payment options, exceptional rewards programs, and exclusive perks.

    1. BMO CashBack Mastercard – Best Free BMO Cash Back Credit Card

    [Offer productType=”CreditCard” api_id=”5f298ccf68c746304bee1258″]

    The BMO CashBack Mastercard offers a range of benefits that make it an attractive choice for savvy shoppers. One of its key features is the generous cash back program, allowing cardholders to earn rewards on their everyday purchases. With 3% cash back on grocery purchases, 1% cash back on recurring bill payments, and 0.5% cash back on all other purchases, this card provides opportunities to earn cash rewards on a wide range of expenses.

    Not only does the BMO CashBack Mastercard offer excellent rewards, but it is also one of the best free credit cards, making it a cost-effective choice for cardholders. This feature ensures that you can enjoy the benefits of the card without any additional financial burden.

    In addition to the cashback rewards, the card offers exclusive discounts and privileges. Cardholders can save up to 25% on rentals at participating National Car Rental and Alamo Rent a Car locations, making it easier to travel and explore. Furthermore, the card provides access to discounted admission for Cirque du Soleil shows touring Canada, as well as 20% off resident shows in Las Vegas. These added perks make the BMO CashBack Mastercard a well-rounded option for those seeking not only cash rewards but also additional savings and experiences.

    The BMO CashBack Mastercard offers an appealing combination of cash back, no annual fee, and exclusive discounts, making it a desirable choice for Canadian consumers looking to maximise their spending power and enjoy additional perks.

    EligibilityDescription
    Credit Score (estimated)600
    Annual IncomeNone
    OtherBe a Canadian resident and have reached the age of majority in you province or territory.

    2. BMO Ascend World Elite Mastercard – Best BMO Credit Card for Travel

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    The BMO Ascend World Elite Mastercard is an exceptional credit card that offers a range of benefits to frequent travellers and entertainment enthusiasts.

    One of the standout features of this card is its impressive rewards program. Cardholders earn 5 points for every $1 spent on eligible travel purchases, making it an excellent choice for those who frequently book flights, hotels, and other travel-related expenses. Additionally, cardholders earn 3 points for every $1 spent on eligible dining and entertainment purchases, as well as recurring bill payments. For all other purchases, cardholders earn 1 point for every $1 spent.

    The BMO Ascend World Elite Mastercard also offers exclusive perks for travellers, including complimentary membership in Mastercard Travel Pass provided by DragonPass, which includes four annual complimentary passes. Moreover, cardholders can access over 1 million Wi-Fi hotspots worldwide without any additional charges or roaming fees.

    The BMO Ascend World Elite Mastercard is one of the best travel credit cards that provides exceptional rewards, travel insurance and exclusive perks, making it an excellent choice for frequent travellers and individuals who enjoy dining out and entertainment.

    EligibilityDescription
    Credit Score (estimated)760
    Annual Income$80,000 (individual) or
    $150,000 (household)
    OtherBe a Canadian resident and have reached the age of majority in you province or territory.

    3. BMO AIR MILES Mastercard – Best Free Credit Card for AIR MILES

    [Offer productType=”CreditCard” api_id=”5f3158de92ec22115033b2b5″]

    The BMO AIR MILES Mastercard is a fantastic credit card for those seeking to collect AIR MILES and reap the benefits of this popular loyalty program.

    One of the standout features of this card is its accelerated earning potential. Users earn 3 times the Miles for every $25 spent at participating AIR MILES Reward Partners, allowing for swift accumulation of rewards. Additionally, cardholders earn 2 times the Miles for every $25 spent at eligible grocery stores, and 1 Mile for every $25 spent on all other purchases. This means that every purchase brings users closer to their desired rewards.

    What makes the BMO AIR MILES Mastercard even more appealing is its lack of an annual fee. Cardholders can take advantage of the card’s benefits without any additional cost, making it a cost-effective choice for collecting Miles.

    Furthermore, this credit card provides valuable added protection for purchases. Users enjoy automatic insurance against theft or damage for 90 days from the date of purchase, adding an extra layer of security. With its generous welcome offer, accelerated earning potential, no annual fee, competitive interest rates, and added purchase protection, this credit card provides an all-around excellent experience for cardholders.

    EligibilityDescription
    Credit Score (estimated)660
    Annual IncomeNone
    OtherBe a Canadian resident and have reached the age of majority in you province or territory.

    4. BMO CashBack World Elite Mastercard – Best BMO Credit Card for Cash Back

    [Offer productType=”CreditCard” api_id=”5f31593392ec22115033b2b6″]

    The BMO CashBack World Elite Mastercard is an excellent choice for individuals looking to save money on grocery shopping. With its attractive features and benefits, this card stands out as a top contender in the market.

    One of the most enticing aspects of this card is the generous welcome offer. But even once it’s over, you get interesting rewards. When it comes to grocery shopping, the BMO CashBack World Elite Mastercard offers an impressive 5% cash back. This is the highest cash back earn rate for groceries in Canada, making it an exceptional choice for those who spend a significant portion of their budget on groceries.

    This card also offers 4% cash back on transit, 3% on gas, 2% on recurring bill payments and 1% on all other purchases. Furthermore, the redemption process is straightforward, allowing cardholders to access their cash back rewards at any time and starting from as little as $1.

    Aside from the grocery benefits, this card also offers attractive perks such as discounts on car rentals at participating National Car Rental and Alamo Rent A Car locations, as well as a complimentary Roadside Assistance Program. You also get collision damage waiver benefits on rental cars, as well as 8 days of emergency medical coverage of up to $5 million when you travel. These additional features further enhance the value of the card and provide savings opportunities beyond grocery shopping.

    The BMO CashBack World Elite Mastercard is one of the best grocery credit cards in Canada. With its lucrative cash back rates, easy redemption process, and additional perks, this card offers significant value for consumers and can help them maximise their savings.

    EligibilityDescription
    Credit Score (estimated)725
    Annual Income$80,000 (individual) or
    $150,000 (household)
    OtherBe a Canadian resident and have reached the age of majority in you province or territory.

    5. BMO Student CashBack Mastercard – Best BMO Credit Card for Students

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    The BMO Student CashBack Mastercard is an exceptional choice for students seeking a credit card that offers great rewards and benefits. With its student-friendly features, this card provides an excellent opportunity for students to earn cash back on their everyday purchases while building a healthy credit history. The absence of an annual fee is a significant advantage for students on a tight budget. They can take advantage of the rewards and benefits without worrying about additional costs.

    Students earn 3% cash back on grocery purchases, making it an ideal option for those who frequently shop for food and supplies. Furthermore, the card offers 1% cash back on recurring bill payments, which can be advantageous for students who often have monthly expenses such as phone bills or streaming subscriptions. Even on all other purchases, students can enjoy unlimited 0.5% cash back, ensuring that every dollar spent brings a little something back.

    The BMO Student CashBack Mastercard is an outstanding credit card for students. With its enticing welcome offer, generous cash back rewards on groceries and recurring bills, no annual fee, and reasonable interest rates, it provides students with a valuable tool for managing their finances and building credit responsibly.

    EligibilityDescription
    Credit Score (estimated)600
    Annual IncomeNone
    OtherBe a Canadian resident and have reached the age of majority in you province or territory.
    Be enrolled in a Canadian post-secondary institution.

    6. BMO eclipse Visa Infinite Privilege – Best Premium BMO Credit Card

    [Offer productType=”CreditCard” api_id=”5ff3cef15b6ac16a9cdc8c6a”]

    The BMO eclipse Visa Infinite Privilege card offers an exceptional range of benefits for people with high income and high expenses such as frequent travellers, making it the best premium credit card and an excellent choice for airport lounge enthusiasts.

    First, the BMO Eclipse Visa Infinite Privilege card rewards cardholders for their spending habits. They earn 5 points for every $1 spent on groceries, dining, drugstore purchases, gas, and travel. Plus, when you add an authorized user to your account, you receive an additional 25% more points. Accumulated points can be redeemed for a variety of merchandise and travel rewards, including flights, hotels, and car rentals.

    One of the standout perks of this card is the Visa Airport Companion membership, providing cardholders with access to airport lounges around the world. With six complimentary airport lounge visits per year, valued at over $250 USD, travellers can relax in style before their flights. Whether it’s enjoying complimentary refreshments, comfortable seating, or exclusive amenities, these airport lounges offer a tranquil sanctuary amidst the hustle and bustle of the airport. With its enticing features, this card allows cardholders to enjoy a luxurious and comfortable airport experience.

    To enhance the overall value, this card offers a $200 annual lifestyle credit, which can be utilized as per the cardholder’s preference. Additionally, the mobile device insurance coverage of up to $1,000 provides peace of mind for tech-savvy travellers.

    While the BMO eclipse Visa Infinite Privilege card does have a hefty annual fee, its comprehensive range of benefits, including the Visa Airport Companion membership and free airport lounge visits, make it an excellent choice for those who appreciate luxury and convenience during their travels.

    EligibilityDescription
    Credit Score (estimated)760
    Annual Income$150,000 individual or
    $200,000 household
    OtherBe a Canadian resident and have reached the age of majority in you province or territory.

    7. BMO U.S. Dollar Mastercard – Best BMO Credit Card for US Shoppers

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    The BMO U.S. Dollar Mastercard is an exceptional choice for U.S. shoppers, offering a range of benefits and features that make it a great companion for both everyday purchases and international travel.

    One of the standout advantages of this card is the ability to avoid fluctuating exchange rates. By making purchases in U.S. dollars and paying your credit card statement in U.S. funds, you can bypass the uncertainty of currency conversions and enjoy greater control over your spending.

    Furthermore, the card’s low $35 USD annual fee makes it an affordable option, especially considering the Fee Rebate offer. By spending just $1,000 USD in a year, you can waive the annual fee for the following year, providing an excellent opportunity for savings.

    The BMO U.S. Dollar Mastercard also offers valuable perks such as free extended warranty and purchase protection, providing peace of mind when making important purchases. Additionally, the Zero Dollar Liability feature ensures protection against unauthorized use of the credit card, enhancing security for cardholders. For those who frequently travel, the 24-hour, out-of-country emergency assistance with GlobalAssist™ is a valuable asset. This feature offers support and guidance in unexpected situations, providing reassurance wherever you are in the world.

    The BMO U.S. Dollar Mastercard stands out as one of the best USD credit cards in Canada, combining convenience, security, and cost-effectiveness to enhance the shopping experience both at home and abroad.

    EligibilityDescription
    Credit Score (estimated)600
    Annual IncomeNone
    OtherBe a Canadian resident and have reached the age of majority in you province or territory.

    The Bottom Line

    In conclusion, BMO offers a diverse range of credit cards that cater to various needs and preferences of Canadian consumers. Whether you’re looking for the best cash back credit card, travel benefits, or specialised perks, BMO has a card that suits your lifestyle and financial goals.

    With BMO’s diverse credit card offerings, you can find a card that aligns with your spending habits, preferences, and financial goals. Make sure to compare credit cards and make an informed decision to maximise your rewards, save money, and enjoy exclusive benefits.

    FAQs about BMO Credit Cards

    What is the best BMO credit card?

    BMO offers a range of cards tailored for different purposes, including travel, shopping, and student needs. We’ve highlighted excellent options to help you find the perfect BMO credit card that suits your specific needs.

    How do I pay my BMO credit card from another bank?

    Paying off your BMO credit card balance from another bank is an easy task. All you need to do is follow the steps down below.
    Step 1: Sign into BMO Online Banking and select your credit card under the Accounts tab.
    Step 2: Choose ”Account options” and then ”Automatically pay your credit card bill.
    Step 3: Select the bank account you’d like to make your payments from – either a BMO account or an account from another bank.
    Step 4: Select ”Choose a payment ”. You can choose to pay the minimum balance owing or the outstanding balance – it’s up to you. Your request can take up to 24 hours to process.

    Can I use my BMO credit card in the United States?

    Yes, you can use any BMO credit card at any store in the United States that accepts Visa or Mastercard transactions.

    Do BMO credit cards cover car rental insurance?

    Not all BMO credit cards come with car rental insurance. However, specific BMO credit cards intended for travel, like the BMO Ascend World Elite Mastercard, do provide car rental insurance. On the other hand, some BMO credit cards offer significant discounts on car rentals. Furthermore, all BMO credit cardholders can benefit from the BMO Roadside Assistance Program, one of the best roadside assistance programs in Canada

    How long does it take to get a BMO credit card?

    Your BMO credit card can take up to two weeks to arrive. Usually, your BMO credit card will be sent in a plain envelope, so make sure to look out for that. After your card arrives, you’ll need to activate it before using it.

    How do I apply for a BMO credit card?

    You have two convenient options to apply for a BMO credit card: online or by visiting one of their local branches. If you choose to visit a branch, remember to bring all the required documents for a smooth application process. You will need two pieces of valid identification.

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    Otis De Marie is a journalist with a diverse portfolio covering business, technology, artificial intelligence, and personal finance. After studying creative literature at the Amsterdam International Community School, Otis has contributed to several notable publications including Brussels Morning, The Brussels Times, Hardbacon, and WallStreetWindow.