Best BMO Credits Cards in Canada for 2024
Sara Skodak
Author
Abid Salahi
Editor10 min read
If your idea of the best credit card comes from BMO, we've rounded up some of the top picks from this institution, especially for those who prefer to align themselves with Mastercard (BMO’s primary network) or Air Miles partnerships.
Below, you'll find something for everyone, whether that be for everyday buyers, travellers, or budget-conscious spenders.
Best Overall BMO Credit Card
BMO CashBack® World Elite® Mastercard®
4.2
Finly Rating
Welcome Bonus
Up to $200
Annual Fee
$120
Interest Rates
20.99% / 23.99%
Why we like it
Why we like it
If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.
Pros & Cons
Pros & Cons
Pros
- Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
- Includes roadside assistance, a rare but valuable benefit for people on the road.
- Provides a comprehensive list of insurance coverage and benefits.
- High first-year value.
Cons
- Does not include restaurant purchases as a reward category, which is one of the most important spending categories.
Product Details
Product Details
Rewards
- 5% cashback on groceries (maximum $25 per statement)
- 4% cashback on daily transit (maximum $12 per statement)
- 3% cashback on gas (maximum $9 per statement)
- 2% cashback on recurring payments (maximum $10 per statement)
- 1% cashback on all other credit card purchases.
Insurance
Coverage
Emergency Out of province Medical
$5M up to 8 days per covered person
Travel Accident
$500,000
Flight Delay
$500 After 4 hours delay
Lost or Stolen Baggage
$500/person, $1000 maximumBaggage Delay
$500/person, $1000 maximum After 6 hours
Hotel Burglary Insurance
$1000.svg)
Car Rental Damage & Theft
$65,000 up to 48 days
Purchase Protection
90 days
Extended Warranty
Up to a year
Benefits
Details
Airport Lounge - Dragon Pass
Pass only, complimentary visits not included
Roadside Assistance
Includes free battery boosts, flat-tire change, lockout service and towing
Car Rental Discount
25% off base rate of participating National Car Rental and Alamo Rent a Car.svg)
Gas Discount
Get up to seven cents off per litre on Shell® fuel
Hotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings
Boingo Wi-Fi hotspot
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
The best thing about the BMO Cashback World Elite Mastercard is that it offers some of the highest cashback rates on groceries and gas compared to other competing credit cards in Canada. Aside from these two high-spend categories, this card also offers solid cashback on transit and recurring payments – making it an ideal credit card for everyday errands and expenses.
It stands out among the other cards mentioned in this post on account of these high rewards, balanced with decent coverage, including flight and baggage delay, emergency out of province medical, and car rental damage and theft insurance.
Not to mention, the card features enticing benefits, such as the airport lounge Dragon Pass, gas, car and hotel discounts, and access to the Boingo Wi-Fi hotspot. The rarest perk of them all, however, has to be this card’s roadside assistance – which features free battery boosts, flat-tire changes, lockout services and towing.
To top it all off, this card comes with a high first year value (partly thanks to its generous cashback welcome bonus), and an annual fee that’s also waived in the first year. The only aspect of the BMO Cashback World Elite Mastercard that you might want to be mindful of is its high annual income requirements.
Best Travel BMO Credit Cards
Let’s take a turn towards the top BMO credit cards in travel:
BMO Ascend™ World Elite®* Mastercard®*
2.8
Finly Rating
Welcome Bonus
Up to 90,000 points and first annual fee waived
Annual Fee
$150
Interest Rates
20.99% / 23.99%, for Quebec 21.99%
Why we like it
Why we like it
The BMO Ascend World Elite Mastercard is perfect for frequent travelers who want a premium card offering high earning rates on travel, dining, and entertainment, plus valuable travel perks like lounge access and comprehensive insurance coverage. If you travel often and can meet the income requirement, this card offers flexibility and peace of mind with both rewards and protection while you're on the go.
Pros & Cons
Pros & Cons
Pros
- Generous rewards: 5 points per $1 spent on travel, 3 points per $1 spent on dining, entertainment, and recurring bills, and 1 point per $1 on other purchases.
- Lounge access: Includes 4 free annual lounge passes through Mastercard Travel Pass.
- Comprehensive insurance: 14 types of insurance, including emergency medical and trip cancellation coverage.
- First year fee waived: Try the card for a year without paying the $150 annual fee.
Cons
- Low point value: Points are worth only 0.67 cents each, which is lower than other cards.
- High income requirements: Requires $80,000 personal income or $150,000 household income, making it inaccessible for many.
- Limited lounge availability: Users have reported issues with lounge access.
Product Details
Product Details
Rewards
- 5x points per $1 spent on eligible travel purchases (up to $15,000 spent)
- 3x points per $1 spent on eligible dining, recurring bill payment and entertainment purchases (up to $10,000 spent per category)
- 1x point per $1 spent on all other eligible purchases
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 yearEmergency Out of province Medical
21 daysTravel Accident
$500,000
Trip Interruption
$2,000 per insured person
Trip Cancellation
up to $1,500/person, $5000 maxFlight Delay
$500Baggage Delay
$500Lost or Stolen Baggage
$500/person per trip, 1k per account maxHotel Burglary Insurance
$1,000.svg)
Personal Effects
$750
Car Rental Accident
$200,000Car Rental Damage & Theft
yesCar Rental Personal Effects
$1,000
Benefits
Details
Airport Lounge - Dragon Pass
4 complimentary visitsDiscount
Up to 7% discount on Booking.com prepaid hotel or property rental bookingsDiscount
20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las VegasCar Rental Discount
20% off base rate of participating National Car Rental and Alamo Rent a Car and up to 5% on Enterprise Rent-A-CarBoingo Wi-Fi hotspot
1 million Boingo Wifi hotspots worldwide
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
The BMO Ascend World Elite Mastercard is the perfect fit for frequent travellers, daily diners, responsible spenders, and entertainment fans. These ideal cardholder profiles are reflected in the card’s rewards program, with its highest points rate earned on eligible travel purchases (with a cap), and its second highest earn category offering points per dollar spent on eligible dining, recurring bill payments, and entertainment purchases.
To take extra good care of travellers, the BMO Ascend World Elite Mastercard comes with 14 types of coverage, including trip interruption and trip cancellation, car rental accident, car rental personal effects, and personal effects insurance.
As for benefits, like the leading BMO Cashback World Elite Mastercard, the BMO Ascend World Elite Mastercard offers a car rental discount (at a slightly lower percentage), Booking.com discounts, access to the Boingo Wi-Fi hotspot, and perks associated with the Airport Lounge Dragon Pass (specifically complimentary visits, something the BMO Cashback World Elite Mastercard fails to provide). To keep members entertained, the card also offers a discount on admission to Cirque du Soleil shows at differing percentages depending on whether you buy tickets for a Canadian or Las Vegas performance.
Also similar to the BMO Cashback World Elite Mastercard, the BMO Ascend World Elite Mastercard waives its first year fee and requires a high personal and household income.
Therefore, if you like to take trips filled with food, entertainment, and some premium benefits, the BMO Ascend World Elite Mastercard could be your ideal card. You might select this card over the BMO Cashback World Elite Mastercard if you want more comprehensive coverage, complimentary airport lounge visits through the Dragon Pass, and points geared more towards travel, dining, and entertainment. On the other hand, you might stick to the BMO Cashback World Elite Mastercard if you'd rather optimize groceries, transit, and gas, plus take advantage of rare roadside assistance, and earn an overall higher annual value.
BMO eclipse Visa Infinite Privilege* Card
3
Finly Rating
Welcome Bonus
Up to 120,000 points
Rewards Rate
1x - 5x points
Annual Fee
$499
Interest Rates
20.99% / 23.99%, for Quebec 21.99%
Why we like it
Why we like it
The BMO Eclipse Visa Infinite Privilege Card is ideal for those who want to maximize rewards on essential categories like travel, dining, groceries, and gas, while enjoying premium benefits. With a generous welcome bonus, lifestyle credit, and comprehensive insurance, this card is designed for frequent travelers who are willing to pay for luxury perks like lounge access and exclusive Visa Infinite privileges. The 25% rewards boost for authorized users adds further value for families or couples who want to rack up points faster.
Pros & Cons
Pros & Cons
Pros
- Generous rewards: Earn 5x points on travel, dining, groceries, gas, and drugstore purchases.
- $200 lifestyle credit: Annual credit that can be used on any purchase over $200.
- 25% bonus points with authorized user: Adding an authorized user increases your rewards by 25%.
- Comprehensive insurance: Includes 12 types of coverage, including emergency medical and trip interruption insurance.
- 6 lounge visits: Complimentary Priority Pass membership with 6 free airport lounge visits annually.
Cons
- High annual fee: The card has a steep $499 annual fee, which is not waived in the first year.
- High income requirements: Requires $150,000 personal or $200,000 household income, limiting eligibility.
- Low point value: Points are valued at only 0.67 cents, reducing their overall worth.
- Additional card fees: Adding authorized users costs $75 per year per user.
Product Details
Product Details
Rewards
- 5x points per $1 spent on grocery, dining, gas, drugstore and travel related purchases (maximum $100,000 in spending)
- 1x point per $1 spent on all other eligible purchases
Insurance
Coverage
Purchase Protection
120 daysExtended Warranty
2 yearsEmergency Out of province Medical
22 daysEmergency Medical Over 65
3 daysTravel Accident
$500,000Trip Interruption
$5,000Trip Cancellation
$2,500Flight Delay
$1,000Baggage Delay
$500Lost or Stolen Baggage
$1,000Hotel Burglary Insurance
$2,500Car Rental Damage & Theft
yes
Mobile Device Insurance
$1,000
Benefits
Details
Airport Lounge - Dragon Pass
Visa Airport Companion membership and 6 complimentary airport lounge visits per year
Anniversary Credit
$200 anniversary lifestyle credit
Extra points
Earn 25% more points on all purchases when you add an authorized user to your account.svg)
Concierge Services
Visa Infinite Privilege Concierge like having a personal assistant on speed dial
Visa Infinite Exclusive Benefits
Visa Infinite luxury hotel collection, dining series and wine country
Golf Benefit
Troon Rewards Golf benefits like discounts at over 95 resorts and courses around the world plus access to select private clubs across the U.SDiscount
Priority Security Lane, airport parking and valet service discounts at select Canadian airports
Eligibility
Credit Score
GoodAnnual Income
$150,000 personal or $200,000 household
If you don’t mind pulling a little more cash out of your pocket, the BMO Eclipse Visa Infinite Privilege Card comes with optimized insurance coverage, plenty of travel-oriented perks, and valuable rewards on both travel and everyday expenses.
Starting with the rewards, earn generous points per dollar spent on grocery, dining, gas, drugstore, and travel purchases – complete with a high spending cap. While the earn rate on travel purchases matches that from the BMO Ascend World Elite Mastercard, you could get slightly higher points on dining with the BMO Eclipse Visa Infinite Privilege Card – if dining and traveling are your top priorities.
In terms of insurance, technically the BMO Eclipse Visa Infinite Privilege Card features less coverage categories than the BMO Ascend World Elite Mastercard, but most of the BMO Eclipse Visa Infinite Privilege Card’s categories have a higher coverage. Plus, the card also includes mobile device and emergency medical over 65 insurance.
The best part about the BMO Eclipse Visa Infinite Privilege Card is its benefits list. While both the BMO Eclipse Visa Infinite Privilege Card and the BMO Ascend World Elite Mastercard offer airport lounge perks, the BMO Eclipse Visa Infinite Privilege Card features a Visa Airport Companion membership and extra complimentary annual airport lounge visits. On the BMO Eclipse Visa Infinite Privilege Card, you’ll also find concierge services, additional points on all purchases when an authorized user is added to your account, Troon Rewards Golf benefits, and most importantly, an anniversary lifestyle credit that can be used on any purchase over $200.
You’ll want to note, however, that the BMO Eclipse Visa Infinite Privilege Card has an even higher annual income requirement (in comparison to the BMO Ascend World Elite Mastercard) to qualify. When you take the high annual fee into account as well (which isn’t waived in the first year), some users may find this card difficult to apply for.
All in all, if you want better travel coverage, better dining earn rates, better lounge access, and more benefits overall, the BMO Eclipse Visa Infinite Privilege Card could be your top pick over the BMO Ascend World Elite Mastercard.
Best Travel BMO Credit Card Honourable Mention
BMO AIR MILES® World Elite®* Mastercard®*
3.6
Finly Rating
Welcome Bonus
Up to 300 AIR MILES Bonus Miles
Annual Fee
$120
Interest Rates
20.99% / 23.99%, for Quebec 21.99%
Why we like it
Why we like it
The BMO Air Miles World Elite Mastercard is ideal for frequent Air Miles collectors looking for premium travel benefits and a strong rewards rate. With up to 3,000 bonus miles, a 25% annual flight discount, and automatic Onyx status, this card offers substantial value for those who frequently shop at Air Miles partners and travel often. Its comprehensive insurance coverage and first-year fee waiver also add to its appeal, though the high income requirement may limit its accessibility.
Pros & Cons
Pros & Cons
Pros
- Increased rewards: Earn 1 mile per $12 spent, tripled when shopping at participating Air Miles partners and doubled at eligible grocery, liquor, and wholesale stores.
- Travel perks: Includes a 25% discount on one Air Miles reward flight booking per year.
- Air Miles Onyx status: Automatic Air Miles Onyx status with exclusive benefits.
- Comprehensive insurance: 14 types of insurance coverage, including travel, trip cancellation, and rental car insurance.
- First-year fee waived: Try the card for free in the first year.
Cons
- High income requirements: Requires $80,000 personal or $150,000 household income, making it inaccessible for many.
- Lower rewards compared to other premium cards: While it offers good Air Miles rewards, other cards may provide more flexible or higher rewards.
Product Details
Product Details
Rewards
- 3x Miles points per $12 spent at participating AIR MILES Partners
- 2x Miles points per $12 spent on eligible grocery, liquor and wholesale store purchases
- 1x Mile point per $12 spent on all other eligible purchases
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 yearTrip Cancellation
$2,500Trip Interruption
$2,000Emergency Out of province Medical
15 daysTravel Accident
$500,000Flight Delay
$500Baggage Delay
$200Lost or Stolen Baggage
$750Hotel Burglary Insurance
$500Personal Effects
$750Car Rental Accident
$200,000Car Rental Damage & Theft
yesCar Rental Personal Effects
$1,000
Benefits
Details
Airport Lounge - Dragon Pass
Pass only - complimentary visits not includedDiscount
Save up to 7% on your Booking.com prepaid hotel or property rental bookingsDiscount
Up to 7 cents off per litre on Shell® fuel if you are an AirMiles collectorCar Rental Discount
20% off base rate of participating National Car Rental and Alamo Rent a Car and up to 5% on Enterprise Rent-A-CarDiscount
Get 20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las VegasDiscount
Annual 25% discount on one worldwide AIR MILES flight redemption.svg)
Status lift
Automatic Air Miles Onyx status
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
If your focus is Air Miles, you might want to opt for the BMO Air Miles World Elite Mastercard for all your travel needs.
With this card, you’ll earn the most points on money spent at participating Air Miles Partners programs, followed by Miles points per dollars spent on eligible grocery, liquor, and wholesale store purchases.
You’ll also be tapping into 14 types of comprehensive insurance, including trip interruption and trip cancellation, car rental accident, and flight and baggage delay.
Regarding benefits, you’ll be awarded the airport lounge Dragon pass (although complimentary visits aren’t included like they are on other competing cards), discounts on Booking.com, Shell fuel, car rentals, Cirque du Soleil admission, and one worldwide Air Miles flight redemption, plus an automatic upgrade to the Air Miles Onyx status.
While the card does come with high income requirements, it’s nice that the annual fee is waived in the first year of membership.
So, if you collect Air Miles you may want the BMO Air Miles World Elite Mastercard since it caters specifically to your loyalty program of choice, and comes with extensive coverage and perks.
Best BMO Credit Cards For Everyday Expenses
If you’re less of a traveller and more of an everyday spender, the following BMO credit cards might speak to you:
BMO CashBack® World Elite® Mastercard®
4.2
Finly Rating
Welcome Bonus
Up to $200
Annual Fee
$120
Interest Rates
20.99% / 23.99%
Why we like it
Why we like it
If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.
Pros & Cons
Pros & Cons
Pros
- Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
- Includes roadside assistance, a rare but valuable benefit for people on the road.
- Provides a comprehensive list of insurance coverage and benefits.
- High first-year value.
Cons
- Does not include restaurant purchases as a reward category, which is one of the most important spending categories.
Product Details
Product Details
Rewards
- 5% cashback on groceries (maximum $25 per statement)
- 4% cashback on daily transit (maximum $12 per statement)
- 3% cashback on gas (maximum $9 per statement)
- 2% cashback on recurring payments (maximum $10 per statement)
- 1% cashback on all other credit card purchases.
Insurance
Coverage
Emergency Out of province Medical
$5M up to 8 days per covered personTravel Accident
$500,000Flight Delay
$500 After 4 hours delayLost or Stolen Baggage
$500/person, $1000 maximumBaggage Delay
$500/person, $1000 maximum After 6 hoursHotel Burglary Insurance
$1000Car Rental Damage & Theft
$65,000 up to 48 daysPurchase Protection
90 daysExtended Warranty
Up to a year
Benefits
Details
Airport Lounge - Dragon Pass
Pass only, complimentary visits not includedRoadside Assistance
Includes free battery boosts, flat-tire change, lockout service and towingCar Rental Discount
25% off base rate of participating National Car Rental and Alamo Rent a CarGas Discount
Get up to seven cents off per litre on Shell® fuelHotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookingsBoingo Wi-Fi hotspot
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
Back from the top of our list, the BMO Cashback World Elite Mastercard is one of the best contenders in this category.
A cashback alternative to the BMO Eclipse Visa Infinite Card (which we’ll cover next), this card offers various high-earning rewards categories on groceries, daily transit, gas, and recurring payments (a category not specified by the BMO Eclipse Visa Infinite Card). However, this card lacks a dining category, which is one of the most important spending categories (something that you’ll see the BMO Eclipse Visa Infinite Card makes up for).
It also offers more extensive coverage than the BMO Eclipse Visa Infinite Card, adding lost or stolen baggage, baggage delay, hotel burglary, and flight delay insurance to the mix.
Overall, you’ll probably pick the BMO Cashback World Elite Mastercard over the BMO Eclipse Visa Infinite Card if you prefer cashback, better coverage, specialized rewards on recurring payments, and a slightly higher overall value.
BMO eclipse Visa Infinite* Card
3.6
Finly Rating
Welcome Bonus
Up to 60,000 points and first year fee waived
Annual Fee
$120
Interest Rates
20.99% / 23.99%, for Quebec 21.99%
Why we like it
Why we like it
This card is ideal for individuals who want to maximize rewards on everyday purchases like dining, groceries, and transit while benefiting from a generous welcome bonus and lifestyle credit. However, the point value and high income requirements may be limiting for some.
Pros & Cons
Pros & Cons
Pros
- Earn up to 60,000 BMO Rewards points.
- 5x points on dining, groceries, gas, and transit.
- $50 annual lifestyle credit.
- 10% bonus points when adding an authorized user.
- First-year annual fee waived.
Cons
- Low point value of 0.67 cents per point.
- High income requirements ($60,000 personal or $100,000 household).
- Only 6 types of insurance coverage included.
Product Details
Product Details
Rewards
- 5 points per $1 spent in restaurants, fast foods, coffee shops, food delivery, grocery, gas and daily transit (up to 250,000 points)
- 1 point per $1 spent on all other purchases
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 yearMobile Device Insurance
$1,000Travel Accident
$500,000Emergency Out of province Medical
15 daysCar Rental Damage & Theft
yes
Benefits
Details
Visa Infinite Exclusive Benefits
Exclusive luxury hotel collection, unique dining and wine eventsGolf Benefit
Troon Rewards Golf benefits like discounts at over 95 resorts and courses around the world plus access to select private clubs across the U.SGas Discount
Up to 7 cents off per litre on Shell® fuel if you are an AirMiles memberAnniversary Credit
Get a $50 anniversary lifestyle credit
Eligibility
Credit Score
GoodAnnual Income
$60,000 personal or $100,000 household
Whether most of your expenses come from dining, groceries, gas, daily transit or all of the above, the BMO Eclipse Visa Infinite Card has a superb points system in place for these categories (just pay attention to the points cap).
The focus on this card is of course the rewards, but you’ll also receive some standard coverage, including mobile device insurance, plus perks like gas discounts, Troon Rewards Gold benefits, and an anniversary lifestyle credit (although it’s only a fraction of the value of the BMO Eclipse Visa Infinite Privilege Card’s lifestyle credit).
The first year fee is waived, but the income requirements for a successful application are high (although not as high as they are for the BMO Cashback World Elite Mastercard).
Therefore, you’ll probably pick the BMO Eclipse Visa Infinite Card if your top priority is earning points on your day-to-day errands and if you want higher dining rewards.
BMO eclipse Visa Infinite Privilege* Card
3
Finly Rating
Welcome Bonus
Up to 120,000 points
Rewards Rate
1x - 5x points
Annual Fee
$499
Interest Rates
20.99% / 23.99%, for Quebec 21.99%
Why we like it
Why we like it
The BMO Eclipse Visa Infinite Privilege Card is ideal for those who want to maximize rewards on essential categories like travel, dining, groceries, and gas, while enjoying premium benefits. With a generous welcome bonus, lifestyle credit, and comprehensive insurance, this card is designed for frequent travelers who are willing to pay for luxury perks like lounge access and exclusive Visa Infinite privileges. The 25% rewards boost for authorized users adds further value for families or couples who want to rack up points faster.
Pros & Cons
Pros & Cons
Pros
- Generous rewards: Earn 5x points on travel, dining, groceries, gas, and drugstore purchases.
- $200 lifestyle credit: Annual credit that can be used on any purchase over $200.
- 25% bonus points with authorized user: Adding an authorized user increases your rewards by 25%.
- Comprehensive insurance: Includes 12 types of coverage, including emergency medical and trip interruption insurance.
- 6 lounge visits: Complimentary Priority Pass membership with 6 free airport lounge visits annually.
Cons
- High annual fee: The card has a steep $499 annual fee, which is not waived in the first year.
- High income requirements: Requires $150,000 personal or $200,000 household income, limiting eligibility.
- Low point value: Points are valued at only 0.67 cents, reducing their overall worth.
- Additional card fees: Adding authorized users costs $75 per year per user.
Product Details
Product Details
Rewards
- 5x points per $1 spent on grocery, dining, gas, drugstore and travel related purchases (maximum $100,000 in spending)
- 1x point per $1 spent on all other eligible purchases
Insurance
Coverage
Purchase Protection
120 daysExtended Warranty
2 yearsEmergency Out of province Medical
22 daysEmergency Medical Over 65
3 daysTravel Accident
$500,000Trip Interruption
$5,000Trip Cancellation
$2,500Flight Delay
$1,000Baggage Delay
$500Lost or Stolen Baggage
$1,000Hotel Burglary Insurance
$2,500Car Rental Damage & Theft
yesMobile Device Insurance
$1,000
Benefits
Details
Airport Lounge - Dragon Pass
Visa Airport Companion membership and 6 complimentary airport lounge visits per yearAnniversary Credit
$200 anniversary lifestyle creditExtra points
Earn 25% more points on all purchases when you add an authorized user to your accountConcierge Services
Visa Infinite Privilege Concierge like having a personal assistant on speed dialVisa Infinite Exclusive Benefits
Visa Infinite luxury hotel collection, dining series and wine countryGolf Benefit
Troon Rewards Golf benefits like discounts at over 95 resorts and courses around the world plus access to select private clubs across the U.SDiscount
Priority Security Lane, airport parking and valet service discounts at select Canadian airports
Eligibility
Credit Score
GoodAnnual Income
$150,000 personal or $200,000 household
Aside from its added travel perks, the BMO Eclipse Visa Infinite Privilege Card offers similar high points per dollar spent as its BMO Eclipse Visa Infinite Card counterpart on categories like groceries, dining purchases, gas, and drugstore purchases.
You can also up your point earnings on all purchases when you add an authorized user to your account. Not to mention, the welcome bonus, which allows you to earn multiple points when you meet certain spending goals set for different time frames within the first year of membership.
Ultimately, you’ll likely choose the BMO Eclipse Visa Infinite Privilege Card if you want to spend more money for great point rates on everyday expenses, and top-tier travel benefits.
BMO CashBack® Mastercard®
2.5
Finly Rating
Welcome Bonus
5% cash back for the first 3 months, up to $2,500 in spend
Annual Fee
$0
Interest Rates
20.99% / 22.99%, for Quebec 21.99%
Product Details
Product Details
Rewards
- 3% cash back on grocery purchases (maximum $15 per statement)
- 1% cash back on recurring payments like bills or subscriptions (maximum $5 per statement)
- 0.5% cash back on all other purchases
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 year
Benefits
Details
Car Rental Discount
20% off base rate of participating National Car Rental and Alamo Rent a Car and up to 5% on Enterprise Rent-A-CarGas Discount
Save up to 7 cents per litre at Shell stations when linked with Air Miles
Eligibility
Credit Score
GoodAnnual Income
N/A
Remarkable for its earn rate on grocery purchases, the BMO Cashback Mastercard is a simpler everyday spending option amongst its competitors. Aside from its grocery earning rate, its reward categories aren’t very high, but you can get more cashback in your first few months of membership and a low introductory interest rate on balance transfers, all at no annual cost.
With this straightforward card, your coverage is limited to purchase protection and extended warranty insurance. You’ll also only have a couple of benefits, specifically car rental and gas discounts.
Really, you’ll only select this card if you’re an everyday spender who’s also looking to save on fees.
Best Budget-Friendly BMO Credit Cards
Speaking of saving on fees, sometimes the best cards are the ones that help you save some money while you spend some money. Here’s a quick look at the best BMO credit cards with low to no annual fees, and low interest perks.
BMO Preferred Rate Mastercard®
3
Finly Rating
Welcome Bonus
0.99% introductory interest rate on balance transfers
Rewards Rate
No Rewards
Annual Fee
$29
Interest Rates
13.99% / 15.99%
Why we like it
Why we like it
If you plan to carry a balance on your credit card, this card offers a very low interest rate. However, there are other cards with no annual fee and slightly lower interest rates that you might want to consider as well.
Pros & Cons
Pros & Cons
Pros
- Low interest rate
- Nice welcome offer for balance transfer
Cons
- Annual fee while there are similar cards that don't have that fee with them
- No benefits other than the most basic purchase protection and extended warranty
Product Details
Product Details
Rewards
No rewards earned on this card
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
Doubled up to 1 year
Eligibility
Credit Score
GoodAnnual Income
N/A
For a small annual fee (rebated in the first year), with the BMO Preferred Rate Mastercard, you can take advantage of low interest rates, specifically on cash advances and purchases, plus an extremely low introductory interest rate on balance transfers for the first several months of membership.
There are no rewards or benefits on this card, meaning it's strictly designed for low interest. However, you will have standard coverage like extended warranty and purchase protection insurance.
So, the BMO Preferred Rate Mastercard would be best suited to cardholders who might carry a balance and want to make sure their interest rates remain low.
BMO CashBack® Mastercard®
2.5
Finly Rating
Welcome Bonus
5% cash back for the first 3 months, up to $2,500 in spend
Annual Fee
$0
Interest Rates
20.99% / 22.99%, for Quebec 21.99%
Product Details
Product Details
Rewards
- 3% cash back on grocery purchases (maximum $15 per statement)
- 1% cash back on recurring payments like bills or subscriptions (maximum $5 per statement)
- 0.5% cash back on all other purchases
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 year
Benefits
Details
Car Rental Discount
20% off base rate of participating National Car Rental and Alamo Rent a Car and up to 5% on Enterprise Rent-A-CarGas Discount
Save up to 7 cents per litre at Shell stations when linked with Air Miles
Eligibility
Credit Score
GoodAnnual Income
N/A
Overall, the BMO Cashback Mastercard’s interest rates aren’t considered low like the BMO Preferred Rate Mastercard, but the substantially low balance transfer welcome bonus rate is certainly something to keep in mind.
The most budget-conscious part about this card is actually its lack of an annual fee, allowing cardmembers to get a solid cashback rate on groceries (capped per statement), some cashback on recurring purchases, and minimal cashback on all other purchases. While the base rate cashback is considered low in comparison to other BMO cards, the card’s no cost membership is what makes up for it. You can also accumulate some good cashback rates in the first few months, as stated by the welcome bonus.
While the BMO Preferred Rate Mastercard has no benefits, the BMO Cashback Mastercard provides car rental discounts at participating National Car Rental, Alamo Rent a Car, and Enterprise Rent-a-Car, plus some awesome savings at Shell gas stations when linked with Air Miles. Like the BMO Preferred Rate Mastercard, the BMO Cashback Mastercard is also equipped with extended warranty and purchase protection insurance.
Really, this card is the best cost-effective option that still gets you some everyday purchase rewards, a low-interest balance transfer bonus, a couple of benefits, and standard coverage.
Frequently Asked Questions
What’s the income requirement for BMO World Elite?
Typically, the income requirement for BMO World Elite credit cards is a minimum $80,000 personal annual income and a minimum $150,000 household annual income. These requirements are quite exclusive and might make the World Elite tier less accessible to some applicants.
Always double check the income requirements linked to each specific card by checking the credit card’s terms and conditions.
What credit score do you need for the BMO World Elite Mastercard?
For the most part, it’s estimated that you’ll need a “good” credit score to get your hands on a BMO World Elite Mastercard. A “good” credit score is a score of about 660. Considering this is merely an estimation, please use this information as a helpful guideline.
Is the BMO World Elite Mastercard the same as Ascend?
The BMO Ascend World Elite Mastercard is simply an upgraded version of the BMO World Elite tier. The Ascend version has better perks like the Dragon Pass with complimentary lounge visits, and more comprehensive travel insurance.