Anytime a no fee credit card offers a generous sign up bonus, we take notice. And when that welcome bonus is over $100, we get excited and immediately want to share the news.
So, here you go…For a limited time, the
- 10,000 BMO Rewards points after your first purchase and
- 10,000 BMO Rewards points when you spend $1,000 within the first 3 months
20,000 bonus points without any crazy hoops to jump through or high spending requirements you need to meet.
When you consider the fact that 140 BMO Rewards points gives cardholders $1 of travel, those 20,000 welcome points will give you a nice bonus of $142 in travel rewards.
$1 / 140 points = 0.0071
20,000 points * 0.0071 = $142 worth of travel
How does the BMO Rewards Mastercard work?
The BMO Rewards Mastercard allows cardholders to earn 1 point for every dollar they spend. And although a 7 cent return on spending is not the best you can get, the flexible rewards, purchase and travel accident insurance, and discounts on car rentals, makes this card a pretty solid no fee card.
We recently wrote a blog article letting you know how to maximize your BMO Rewards, but in a nutshell these rewards can be used for a number of different things:
- Travel – which does need to be booked through BMO’s travel agent, but they do price match, so if you’re willing to shop around, you could score a really great deal.
- Merchandise – not always the best return on spending, but sometimes the convenience is worth it and once again, shopping around could pay off.
- Gift cards – because who doesn’t LOVE gift cards?
- Experiences – once in a lifetime, bucket list items, are sometimes worth far more than their price tag.
- Statement credits – a new feature which allows you to use your points for cash, 15,000 points for $50.
- Investments – these give you double the value of statement credit options (15,000 points for $100), but you do need to have a BMO Investment Account.
- Charitable donations – because sometimes it feels a little better to give than to receive.
Only 200 gift cards left.
Who this card is good for?
While this deal may not be for everyone, this card could be great for you if:
- you’re just starting out with credit cards and are looking to get your feet wet,
- you don’t use your credit card a lot and can’t justify paying an annual fee, or…
- you are looking for a no fee card to pair with your favorite American Express card.
Whatever the case, this card is hard to pass up.