The perfect BMO bank cards in Canada 2022

• Annual price: $120 (first 12 months of annual price waived)
• Rates of interest: purchases 20.99%, money advances 23.99%, stability transfers 22.99%
• Earn charge: Earn 5% money again on grocery purchases, 4% on transit, 3% on fuel, 2% on recurring invoice funds and 1% on every little thing else
• Welcome bonus: 10% money again for the primary Three months (as much as $200)
• Our favorite perk: Complimentary roadside help with a free fundamental membership within the Dominion Car Affiliation (DAA)
• Extra advantages: Journey insurance coverage safety, together with journey interruption, cancellation or delay; automobile rental unintentional demise and dismemberment, and collision automobile rental protection; out-of-country emergency medical advantages as much as $2 million; buy safety and prolonged guarantee
• Revenue required: $80,000 or $150,000 as a family

Get extra particulars in regards to the BMO CashBack World Elite*

Finest BMO premium rewards bank card 

BMO Eclipse Visa Infinite Privilege*

The BMO Eclipse Visa Infinite Privilege card has a hefty $499 annual price, however the perks and rewards might nicely make it well worth the value of entry. First off, you’ll obtain an annual $200 way of life credit score which you could spend how you would like, successfully chopping down the annual price to $299. Subsequent, this card presents wonderful lounge advantages, together with a Precedence Cross membership with six lounge passes per 12 months (a price of roughly US$300). At this level, further perks, like journey insurance coverage and Visa Infinite advantages, are gravy. When it comes to factors, the BMO Eclipse Visa Infinite Privilege earns 5 BMO Rewards factors per $1 spent on groceries, fuel, journey, eating and drugstores, and 1 level per $1 on every little thing else. With BMO factors price 0.71 of a cent when redeemed for journey, that works out to a return of  3.5% on a variety of bonus classes and 0.5% on every little thing else. Plus, you may enhance your earn charge by 25% once you add a certified person ($99 per further card), which can nicely enchantment to households or {couples} who plan on sharing an account. To seal the deal, there’s the welcome bonus of as much as 90,000 BMO Rewards factors.

Get extra particulars in regards to the BMO Eclipse Visa Infinite Privilege* >

Finest BMO scholar bank card

BMO CashBack Mastercard for College students

For those who’re on a scholar funds, it is a card to contemplate. The coed variant of the BMO CashBack Mastercard earns substantial rewards—like a welcome bonus of 5% money again on all purchases for the primary three months and three% money again on groceries after that—all with out an annual price. You’ll additionally earn 1% on recurring invoice funds and 0.5% on every little thing else. Whenever you do the mathematics and mix all these earnings, you can earn round $368 in money again rewards in your first 12 months (translation: lots of ramen).You’ll know in the event you’re eligible inside minutes and might begin constructing your credit score historical past. The one draw back is that, as with many no-fee playing cards, this card is mild on perks— however it does supply commonplace buy safety and prolonged guarantee.

• Annual price: $0
• Rates of interest: 19.99% purchases, 22.99% for money advances (21.99% Quebec residents) 
• Welcome bonus: Earn as much as 5% money again on all purchases for the primary three months
• Earn charge: Earn 3% money again on grocery purchases, 1% money again on recurring invoice funds and 0.5% money again on every little thing else
• Extra advantages: Prolonged guarantee and buy safety and get 25% off on leases at Nationwide Automotive Rental and Alamo Hire a Automotive places
• Annual earnings required: None

About BMO Rewards

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What’s the worth of BMO Rewards Factors?

The BMO Rewards program follows the same worth construction as different bank-issued factors packages, like TD Rewards and Scotia Rewards. The BMO Rewards program is right for its number of redemption choices, providing you with entry to high-value rewards, and extra versatile payouts like money again in your assertion—nice in the event you discover your individual journey deal or wish to use your rewards to repay an on a regular basis invoice. The worth of every level varies relying on what you’re redeeming for, however the rule of thumb is journey will stay your greatest wager for the best worth in comparison with different redemptions like present playing cards, merchandise or money again.

• Journey: 140 BMO Factors = $1 / 1 BMO Level = $0.0071 (0.71%)
• Cash to spend money on a BMO account: 15,000 BMO Factors = $100 / 1 BMO Level = $0.0067 (0.67%)
• Money to repay your assertion: 200 BMO Factors = $1 / 1 BMO Level = $0.005 (0.5%)
• Present playing cards: Varies, however typically 1 BMO Level = $0.0043 to $0.0054
• Merchandise: Varies, however typically you received’t get as a lot worth for merchandise when in comparison with the journey or funding choices

redeem BMO Rewards factors

All redemptions for BMO Rewards factors undergo their web site, BMORewards.com. There, you’ll have entry to their journey portal, the place you may search instantly for flights, trip packages, inns, vehicles, and cruises, together with their respective factors required for journey redemption.