15 Best BMO Credit Cards in Canada For 2022

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This is a list of the best BMO credit cards in Canada.

Bank of Montreal, popularly known as BMO has been offering Canadians competitive financial products and services for over 200 years. 

As one of the five big banks in Canada, BMO offers some of the best award-winning credit cards in Canada across different categories. From rewards, cashback, AIR MILES, no-fee, low-interest, lifestyle & travel, students to business credit cards, BMO covers multiple spending habits.  

If you’re looking to apply for a BMO credit card but are not sure which one is perfect for you, this article is for you.

In this post, I present the best BMO credit cards in Canada across different categories to help you determine the best one for your needs and make an informed decision.


Overview of the Best BMO Credit Cards in Canada 

Let’s start with an overview of how the BMO credit cards compare in terms of annual fees and promotions. 

Credit CardAnnual FeePromotions
BMO Rewards Mastercard$010,000 reward points for $1,000 purchases within the first three months of membership. Plus a 1.99% balance transfer introductory interest rate for the first 9 months of membership
BMO eclipse Visa Infinite Card$120 (waived in the first year)Up to 60,000 reward points 
BMO eclipse Visa Infinite Privilege Card$499Up to 90,000 reward points
BMO CashBack Mastercard$0Up to 5% cash back in the initial three months of membership. Plus a 1.99% balance transfer introductory interest rate for the first 9 months of membership.
BMO CashBack World Elite Mastercard$120 (waived in the first year)Up to 10% cash back in the initial three months of membership
BMO AIR MILES Mastercard$0800 AIR MILES Bonus Miles. Plus a 1.99% balance transfer introductory interest rate for the first 9 months of membership
BMO AIR MILES World Elite Mastercard$120 (waived in the first year)2,000 AIR MILES Bonus Miles
BMO Ascend World Elite Mastercard$150 (waived in the first year)Up to 60,000 points
BMO Prepaid Travel Mastercard$6.95N/A
BMO U.S. Dollar MastercardUS $35N/A
BMO Preferred Rate Mastercard$20 (waived in the first year)3.99% introductory balance transfer interest rate within the first 9 months of membership
Students – BMO AIR MILES Mastercard$0800 AIR MILES Bonus Miles
Students – BMO CashBack Mastercard$0Up to 5% cash back in the initial three months of membership
BMO CashBack Business Mastercard$0Up to 10% cash back on eligible purchases for the first three months of membership
BMO AIR MILES No-Fee Business Mastercard$01,000 AIR MILES Bonus Miles

Best BMO Reward Cards 

If you’re looking to earn rewards on your everyday purchases, a reward card is what you need. Below are the best BMO reward credit cards to choose from.

1. BMO Rewards Mastercard

  • Annual fee: $0
  • APR: 20.99% for purchases & 22.99% for cash advances
  • Welcome offer: 10,000 reward points for $1,000 purchases within the first three months of membership. Plus a 1.99% balance transfer introductory interest rate for the first 9 months of membership
  • Income requirement: N/A

The BMO Rewards Mastercard is a no-fee reward card that offers you redeemable points upon making every purchase with the card. 

You can redeem your points for travel, car rentals, hotels, spa treatment, gym membership and vacation packages among others. 

With no minimum income requirement, the card features Zero Liability, Extended Warranty and Purchase Protection, and Mastercard Identity Check for your optimal comfort.

BMO Rewards Mastercard

2. BMO eclipse Visa Infinite Card

  • Annual fee: $120 (waived in the first year)
  • APR: 20.99% for purchases & 23.99% for cash advances
  • Welcome offer: Up to 60,000 points
  • Income requirement: Minimum personal annual income of $60,000, $100,000 household annual income, or declared annual spend of $15,000 

With the BMO eclipse Visa Infinite Card, you will get the following redeemable points when you make purchases:

  • 5x points when you spend on rideshare, takeout etc.
  • 5x points for every $1 you spend on dining, gas, groceries and transit 

Even though the card has a relatively high-income requirement, it offers comprehensive insurance that includes: 

  • Mobile Device Insurance
  • Travel Insurance
  • Purchase Security and Extended Warranty Insurance
  • Visa Zero Liability
BMO eclipse Visa Infinite Card

3. BMO eclipse Visa Infinite Privilege Card

  • Annual fee: $499
  • APR: 20.99% for purchases & 23.99% for cash advances
  • Welcome offer: Up to 90,000 points
  • Income requirement: Minimum personal annual income of $150,000 or household annual income of $200,000

The BMO eclipse Visa Infinite Privilege Card also rewards you with competitive reward points on all your purchases.

For every $1 you spend on gas, groceries, drugstore, dining, or travel, you will get 5x points. Adding authorized card users will earn you 25% more points on your purchases.  

Besides offering mobile device insurance, purchase protection and extended warranty, the BMO eclipse Visa Infinite Privilege Card also offers you exclusive Visa Infinite Privilege benefits, such as:

  • Access to Visa Infinite Luxury Hotel
  • Priority Pass membership 
  • Discount on valet service 
  • Priority Security Lane 
BMO eclipse Visa Infinite Privilege Card

Best BMO Cashback Cards

Like reward cards, cash back credit cards also return a portion of your purchases to help you reduce the cost of your purchases. But with a cash back credit card, you’re getting real cash returned not redeemable points.

Below are the best BMO cash back credit cards to choose from. 

4. BMO CashBack Mastercard

  • Annual fee: $0
  • APR: 20.99% for purchases & 22.99% for cash advances
  • Welcome offer: Up to 5% cash back in the initial three months of membership. Plus a 1.99% balance transfer introductory interest rate for the first 9 months of membership
  • Income requirement: N/A

The BMO CashBack Mastercard is one of the best cashback credit cards in Canada backed by multiple awards.

With no annual fee and income requirements, this card offers you real cash back according to the following:

  • Grocery purchases: 3% cash back
  • Recurring bills: 1% cash back 
  • Every other purchases: 0.5% cash back

With extended warranty and purchase protection, the card also helps you save 25% on car rentals, 20% on Las Vegas shows and 15% on Cirque du Soleil shows.

BMO CashBack Mastercard

5. BMO CashBack World Elite Mastercard

  • Annual fee: $120 (waived in the first year)
  • APR: 20.99% for purchases & 23.99% for cash advances
  • Welcome offer: Up to 10% cash back in the initial three months of membership 
  • Income requirement: Minimum personal annual income of $80,000 or household annual income of $150,000

Unlike the BMO CashBack Mastercard, BMO CashBack World Elite Mastercard has an annual fee and income requirement but rewards you with more competitive cash back as follows:

  • Grocery purchases: 5% cash back
  • Transit spending: 4% cash back
  • Gas purchases: 2% cash back
  • Every other purchase: 1%

Besides offering roadside assistance and travel and medical protection, the BMO CashBack World Elite Mastercard also offers the following exclusive benefits:

  • Access to free Wi-Fi across over 1 million locations worldwide
  • 25% discount on car rentals
  • 24-hour free access to concierge staff
  • And more
BMO CashBack World Elite Mastercard

Best BMO AIR MILES Cards 

AIR MILES are also a form of reward you can use to offset your travel costs. You can redeem them for cash rewards, events or merchandise.

Below are the best BMO AIR MILES credit cards. 

6. BMO AIR MILES Mastercard

  • Annual fee: $0
  • APR: 20.99% for purchases & 22.99% for cash advances
  • Welcome offer: 800 AIR MILES Bonus Miles. Plus a 1.99% balance transfer introductory interest rate for the first 9 months of membership
  • Income requirement: N/A

The BMO AIR MILES Mastercard is one of the best no-fee AIR MILES credit cards in Canada with no minimum income requirement.

The card rewards you with 3x Mils on every $25 you spent at eligible stores and 1 Mile on every other $25 purchase with the card.  

With Zero Liability and Mastercard Identity Check, the BMO AIR MILES Mastercard offers you the following discounts: 

  • 25% off on car rentals
  • 20% off on Las Vegas resident shows 
  • 15% off on Cirque du Soleil shows
BMO AIR MILES Mastercard

7. BMO AIR MILES World Elite Mastercard

  • Annual fee: $120 (waived in the first year)
  • APR: 20.99% for purchases & 23.99% for cash advances
  • Welcome offer: 2,000 AIR MILES Bonus Miles 
  • Income requirement: Minimum personal annual income of $80,000 or household annual income of $150,000 

The BMO AIR MILES World Elite Mastercard is an awarding-winning AIR MILES credit card that helps you maximize your rewards on purchases. 

With this card, you will earn 3x Miles on every $12 purchase at eligible stores and 1 Mile on every other $12 purchase with the card.

When you use your AIR MILES to travel across North America, you will get a 15% discount. This is in addition to other exclusive benefits, such as: 

  • Access to free Wi-Fi across over 1 million locations worldwide
  • BMO AIR MILES World Elite Travel and Medical Protection
  • 24-hour free access to concierge staff
  • And more
BMO AIR MILES World Elite Mastercard

Best BMO Lifestyle & Travel Credit Cards

Lifestyle & travel credit cards are designed to help you minimize costs and maximize comfort on things that matter to you. If this sounds like a good fit for your needs, BMO has you covered with some of the best lifestyle & travel credit cards in Canada.

Here’s an overview of each of them.

8. BMO Ascend World Elite Mastercard

  • Annual fee: $150 annual fee (waived in the first year)
  • APR: 20.99% for purchases & 23.99% for cash advances
  • Welcome offer: Up to 60,000 points 
  • Income requirement: Minimum personal annual income of $80,000 or household annual income of $150,000 

If you have up to $80,000 personal or $150,000 household annual income and don’t mind paying an annual fee, the BMO Ascend World Elite Mastercard could be your perfect option under this category.

The card offers some of the competitive rewards you can expect from a lifestyle & travel credit card in Canada. Below is the reward structure of the card across different purchases: 

  • Every $1 purchase on eligible travel purchases = 5x points 
  • Every $1 purchase on eligible entertainment, dining, and recurring bill purchases = 3x  points
  • Every other $2 purchase = 1x point

Besides that, the BMO Ascend World Elite Mastercard also offers:

  • 4 free annual passes
  • Free membership in Mastercard Travel Pass
  • 25% discount on car rentals
  • 20% discount on Las Vegas resident shows 
  • 15% discount on Cirque du Soleil shows 
  • 24-hour free access to concierge staff
  • Comprehensive insurance
  • And more
BMO Ascend World Elite Mastercard

9. BMO Prepaid Travel Mastercard

  • Annual fee: $6.95
  • APR: None 
  • Welcome offer: N/A
  • Income requirement: N/A

If you’re looking for a big bank-based prepaid card in Canada, you can’t make the wrong choice with the BMO Prepaid Travel Mastercard.

Like other prepaid cards in Canada, this card has no interest rate for purchases & cash advances. But unlike other prepaid cards, this card charges an annual fee as highlighted above. 

Nevertheless, the BMO Prepaid Travel Mastercard gives you the same security and convenience accessible on BMO credit cards.

The card also comes with an extended warranty and purchase protection, Zero Liability and Mastercard Identity Check.

BMO Prepaid Travel Mastercard

10. BMO U.S. Dollar Mastercard

  • Annual fee: US $35
  • APR: 20.99% for purchases & 22.99% for cash advances
  • Welcome offer: N/A
  • Income requirement: N/A

Do you shop frequently with US dollars? The BMO U.S. Dollar Mastercard could be your perfect option. With no exchange fees, this card helps you save costs on your US dollar purchases in and outside Canada. 

While it charges an annual fee of $35, the fee will be rebated in the following year when you spend a minimum of $1,000 in US dollars annually. 

Besides free supplementary card access, the card also features the following exclusive benefits that aren’t available on other US dollar credit cards in Canada:

  • 25% discount on car rentals
  • 20% discount  on Las Vegas resident shows 
  • 15% discount on Cirque du Soleil shows 
  • Extended warranty and purchase protection
  • Zero Liability
BMO U.S. Dollar Mastercard

Best BMO Low-Interest Cards 

In addition to the BMO Prepaid Travel Mastercard, BMO discussed above, BMO also has a dedicated low-interest card known as the BMO Preferred Rate Mastercard. Below is an overview of the card. 

11. BMO Preferred Rate Mastercard

  • Annual fee: $20 (waived for the first year)
  • APR: 12.99% for purchases & 15.99% for cash advances
  • Welcome offer: 3.99% introductory balance transfer interest rate for the first 9 months of membership
  • Income requirement: N/A

The BMO Preferred Rate Mastercard is one of the best low-interest credit cards in Canada with a relatively low annual fee that’s waived in the first year.

The card sets itself apart from the competition with 12.99% interest on purchases, 15.99% interest on cash advances and a 3.99% introductory balance transfer interest rate for the first 9 months of membership.

Besides extended warranty and purchase protection, the card also offers Zero Liability, 

24/7 emergency support and Mastercard Identity Check.

Learn more: 21 Best Low Interest Credit Cards in Canada

BMO Preferred Rate Mastercard

Best BMO Student Cards

If you’re a Canadian or international student and are looking for a tailored credit card for students, BMO has just the right card for you. Below are the best BMO student credit cards to consider. 

12. Students BMO AIR MILES Mastercard

  • Annual fee: $0
  • APR:  20.99% for purchases & 22.99% for cash advances
  • Welcome offer: 800 AIR MILES Bonus Mile
  • Income requirement: N/A

With no annual fee and competitive AIR MILES Bonus Mile, the Students – BMO AIR MILES Mastercard is worth checking out.

This card rewards you with 3x Miles on every $25 purchase at an eligible store and 1 Mile on every other $25 purchase.

The interesting part is that you can redeem your AIR MILES for over 800 options ranging from travel, gift cards, merchandise, entertainment, leisure, etc. 

With an extended warranty and purchase protection and a series of discounts, this card could be your perfect option if:

  • You’re a Canadian citizen, permanent resident or international student
  • You’re schooling at a recognized post-secondary school
  • You’re between the ages of 18 to 24 
  • You earn annual income from family allowance, employment, student loan, grant or scholarship
Students – BMO AIR MILES Mastercard

13. Students – BMO CashBack Mastercard

  • Annual fee: $0
  • APR: 20.99% for purchases & 22.99% for cash advances
  • Welcome offer: Up to 5% cash back in the first three months of membership
  • Income requirement: N/A

If you’re a student looking to earn cash back on your purchases, the Students – BMO CashBack Mastercard is one of the top options to consider.

This award-winning card rewards you with real cash back on the following purchases: 

  • Grocery purchases = 3% cash back
  • Recurring bill payments = 1% cash back
  • Every other purchase = 0.5% cash back

With Zero Liability, Mastercard Identity Check, extended warranty and purchase protection, and a series of discounts, this card is worth considering.

That said, the card has the same requirements as the Students – BMO AIR MILES Mastercard discussed above.

Students – BMO CashBack Mastercard

Best BMO Business Cards

Do you operate a sole proprietorship, partnership, corporation or unincorporated association? BMO has the perfect credit cards for you. Check them out below. 

14. BMO CashBack Business Mastercard

  • Annual fee: $0
  • APR: 19.99% on purchases & 22.99% interest on advances
  • Welcome offer: Up to 10% cash back for three months on a cellphone, internet bills payments, office supplies and gas purchases
  • Income requirement: N/A

The BMO CashBack Business Mastercard is one of the best business credit cards in Canada due to its competitive rewards with no annual fees.

Besides the above welcome offer, the credit card also rewards you upon making the following purchases: 

  • Shell/pump purchases: 1.75% cash back
  • Purchases on cellphone, gas, internet bills and office supplies: 1.5%
  • Every other purchase: 0.75%

Overall, you will get 1%-25 automatic rebates when you shop with the card at eligible stores. Interestedly, you can add up to 22 card users and maximize your cash back earnings.

Finally, this card has Zero liability with 90-day purchase protection and extended warranty protection.

BMO CashBack Business Mastercard

15. BMO AIR MILES No-Fee Business Mastercard

  • Annual fee: $0
  • APR: 19.99% on purchases & 22.99% on cash advances 
  • Welcome offer: Up 1,000 AIR MILES Bonus Miles 
  • Income requirement: N/A

If you prefer earning rewards in AIR MILES, the BMO AIR MILES No-Fee Business Mastercard could be your best option.

With no annual fee, this card rewards you with 1.25x Miles on every $20 purchase at eligible Shell stations and 1 Mile on every other $20 purchase. 

You can also add up to 22 additional card users to maximize your rewards. In addition, the card offers 1%-25% rebates when you make purchases at eligible stores through Mastercard Easy Savings.

With Liability Waiver Program, Zero liability, Extended Warranty and Purchase Protection, you can rely on this card for your business everyday transactions.

BMO AIR MILES No-Fee Business Mastercard

Best BMO No-Fee Cards 

If you’re looking for a no-fee credit card in Canada, below are some of the best BMO no-fee credit cards to consider which were discussed above.

CardAnnual feeInterest
BMO CashBack Mastercard$019.99% on purchases & 22.99% on cash advances
BMO AIR MILES Mastercard$019.99% on purchases & 22.99% on cash advances
BMO Rewards Mastercard$019.99% on purchases & 22.99% on cash advances
Students – BMO CashBack Mastercard$019.99% on purchases & 22.99% on cash advances
BMO CashBack Business Mastercard$019.99% on purchases & 22.99% on advances

Related: Best No-Fee Credit Cards in Canada


Which BMO Credit Card is Perfect for You?

As you can see, the best BMO cards vary across different categories ranging from rewards, cashback, no-fee, low-interest, and so on.

This means that you need to first evaluate your situation and spending habits to determine which of the above best BMO cards is perfect for you.

When narrowing down your selection, consider the following factors to make a cost-effective decision:

  • Annual fee
  • Interest rates
  • Reward structure
  • Welcome offer
  • Income eligibility

Ultimately, the best BMO credit card for you is the one that best aligns with your spending needs and habits. Overall, you can’t make the wrong choice with any of the above BMO credit cards.

BMO Credit Cards Requirements 

As BMO credit cards vary, so do their requirements. However, the following are the general or common requirements of BMO cards. 

  • Be a Canadian citizen or permanent resident
  • Reach your province or territory age of majority
  • Possess a Social Insurance Number
  • Have no bankruptcy declaration history in the previous seven years

Besides the above requirements, some BMO credit cards require you to have minimum personal or household annual income to qualify.


How to Apply for a BMO Card

Depending on which BMO card you’re going with, you can apply through the following ways:

  • Online: Visit the BMO credit cards page here and click on your preferred card to apply
  • By phone: Call the BMO representative on 1-844-385-5055
  • In-person: Visit any BMO nearest branch and apply in-person. You can find a branch and book an appointment here

Some FAQs on the Best BMO Cards in Canada

What credit score is needed for BMO Mastercard?

BMO doesn’t disclose information about the required credit score for any of its cards. However, having a good-excellent credit score will boost your approval chances.

What are the benefits of BMO Mastercard?

As BMO has different Mastercard cards, so do their benefits vary. However, some of the common benefits of BMO Mastercards include: Competitive rewards, Competitive welcome offers, Comprehensive insurance coverage and Add-ons (such as roadside assistance and credit alert).

What are the drawbacks of BMO Mastercard?

The drawbacks of a BMO Mastercard depend on the card you’re using because BMO has several Mastercard branded cards. Nevertheless, one major drawback of BMO Mastercard products is their average interest rates (excluding BMO low-interest Mastercard). In addition, some BMO Mastercard products have low rewards, high annual fees and income requirements.


Final Thoughts

BMO has some of the best credit cards in Canada, but choosing the right one for your needs can be hard. Hopefully, this post has helped you narrowed down the best BMO credit card that is perfect for your spending habits.

With different categories to choose from, you can apply for more than one BMO card or combine them with another card from a different credit card issuer.

Regardless of the BMO credit card you’re going with, ensure it suits your spending habits and needs. Which BMO card are you going with? Kindly let me know in the comment section. 

Simon is a CPA by day and a Personal Finance Blogger by night. With over a decade experience in financial services, he's passionate about personal finance, investing and helping people take control of their financial life.

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