The BMO Preferred Rate Mastercard credit card is recommended for routine purchases, as it features low annual fees and interest rates. Furthermore, it features a series of integrated features that guarantee practicality, convenience and security for its users.


See more information about this card below!

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Who is the credit card for BMO Cashback World Elite Mastercard?

The BMO Preferred Rate Mastercard is recommended for people who want to preserve their financial health and save to reach their goals, without spending a lot of money on their credit card.

However, to have your request for this resource approved, you must meet the minimum income requirements and have a credit score estimated at 560 or more. Additionally, it is important that you have not declared bankruptcy in the last seven years.

Credit card benefits BMO Cashback World Elite Mastercard

The benefits that the BMO Preferred Rate Mastercard presents are designed to provide convenience and protection to users of this credit card, ensuring that their financial demands are met.

See some of these advantages below:

  • You can add another cardholder for free;
  • There is extended warranty and purchase protection for BMO Preferred Rate Mastercard users;
  • 24-hour emergency support anywhere in the world;
  • The Zero Responsibility program protects you if there is a loss of money related to fraud;

BMO Alerts keeps an eye on large, suspicious purchases, helping you confirm whether you actually made those transactions.

Credit card limit

The BMO Preferred Rate Mastercard credit card has a limit that will be defined according to the applicant’s personal analysis. To establish this limit, factors such as your income, your existing debts and your credit history will be analyzed, which allows for greater customization to meet each client’s financial objectives.

BMO Cashback World Elite Mastercard: fees and charges

The BMO Preferred Rate Mastercard offers a lower interest rate than other cards on the market, including the MBNA True Line Gold Mastercard.

Note some of their fees below:

  • This card has an annual fee of $29.00;
  • However, if you sign up for it by May 31, 2024, you will be eligible for the annual fee waiver offer during the first year of using the card.
  • It features a $13.99% fee for purchases;
  • Displays a fee of $15.99% for cash withdrawals;
  • If card payments are delayed, the interest rate for purchases, fees and other expenses will be 20.99%;
  • Still thinking about the situation above, cash withdrawals and balance transfers will have a fee of 23.99%.

A reminder: the brand of this card is Mastercard and it works internationally, being accepted in several countries.

How to apply for a credit card?

To help you apply for your own BMO Preferred Rate Mastercard, we’ve put together a simple and accessible step-by-step guide. Check below!

  1. First of all, you need to check if you are eligible for this feature and then you need to inform if you already have a BMO debit card and a Canadian address;
  2. After that, just click on “Continue to Application”;
  3. You must read the terms containing important information about the credit card in question, and then consent to what is being said;
  4. After carefully reading these details and agreeing to the terms, you need to fill in your full name and your birthday;
  5. Click “Next”;
  6. The next piece of information to fill in is your contact details;
  7. Click “Next”;
  8. Please provide your full address;
  9. Click “Next”;
  10. Provide your social security number;
  11. Click “Next”;
  12. Enter your professional details;
  13. Click “Next”;
  14. In the “Features” tab, you can add additional features to your card, such as Optional Enhanced BMO Credit Card Balance Protection, which protects you in the event of unexpected events such as death, total disability and job loss;
  15. Ready! Now just request your card!

BMO card issuers will review your information and approve your request within a few business days.

Opinion about the BMO Cashback World Elite Mastercard

The BMO Preferred Rate Mastercard is a great option for people who want to avoid extra, higher costs but still want to enjoy the credit card experience. With it, you can save more money, preserving your financial health.

Another point is that a person with an average score can have access to this card, as long as they have not declared bankruptcy in the last seven years.

On the other hand, it does not feature a purchase-based rewards system, which may not be attractive to consumers.

Click the button below to be redirected to the official website responsible for applying for a credit card BMO Cashback World Elite Mastercard.