BMO Preferred Rate Mastercard

About BMO

In June 1817, Austin Cuvillier was one of the ten original businesspeople who established BMO. By the year 1822, the bank had transitioned from the position of a private corporation owned by a select few individuals to that of a public company owned by 144 individuals, having maintained the status it had enjoyed from its inception as a private company. At this point, people started referring to it by its current name in official documents.

Today, BMO is a dominant player in commercial banking and has maintained a position in the top ten list of business lenders in the United States. We are in a strong position to provide help to customers in important industries.

And despite the fact that the majority of our commercial banking staff is located in key Midwestern states, approximately two thirds of newly originated loans are for markets that we serve on a national scale.

Why choosing BMO Preferred Rate Mastercard

Looking for a credit card that offers more than just the basics? The BMO Preferred Rate Mastercard might be just what you need. Let’s break down what makes it stand out.

First off, if you’re thinking about transferring a balance from another card, this one’s a winner for the first nine months. You’ll enjoy an incredibly low 0.99% interest rate on that transferred balance. There’s a small one-time fee of 2% of the total amount, but that’s a pretty sweet deal. After those initial nine months, the rate goes up to 15.99%, which is still quite reasonable.

Now, about that annual fee – yes, there is one, but here’s the good news: for your first year with the card, that $29 fee is waived. That’s a nice little welcome gift.

When it comes to using the card for purchases, you’ll get a competitive interest rate of 13.99%. That rate is usually reserved for folks with top-notch credit scores, so it’s a perk worth noting.

Travel plans in your future? You’ll appreciate the 24/7 global emergency support that comes with this card. It’s like having a safety net wherever you go.

But that’s not all. The BMO Preferred Rate Mastercard goes a step further by offering some additional perks for a modest annual fee:

• BMO Credit Card Balance Protection: This comprehensive protection plan is there to help if unexpected events like disability, job loss, or even death affect your ability to make payments on your BMO credit card. It can cover your credit card balance up to $20,000. The cost is based on your total statement balance, with a rate of $1.00 per $100.00, plus applicable taxes.
• BMO Roadside Assistance: As an added bonus, you’ll get complimentary roadside assistance. This covers useful services like battery boosts, tire changes, unlocking your vehicle, and even towing.

So, in a nutshell, the BMO Preferred Rate Mastercard isn’t just your run-of-the-mill credit card. It’s all about flexibility and security, making it a great choice for various financial needs. If that sounds like what you’re looking for, it might be time to give it a closer look.

So you don’t have any doubts about this card, it’s an excellent option as it allows you to transfer balances from cards with higher interest rates to cards with lower interest rates. This enables you to pay less on interest and saves a significant amount of money over the course of the loan. The BMO Preferred Rate Mastercard is an excellent choice for you if you prefer to keep things straightforward and would also like to take advantage of a competitively low interest rate.