As one of the largest banks in Canada, BMO offers a wide range of personal finance products, including over a dozen credit cards. With such a wide variety of offerings, you shouldn't have a problem finding a card that matches your spending habits and meets your needs.
To help you start your search, we’ve listed four of our favourite BMO rewards cards. From premium options to a no fee card or even a business card option, we’ve got you covered. Read through what makes these cards shine and start earning BMO Rewards points!
Key Takeaways
- BMO’s premium credit card options typically have an annual fee and steep income requirements.
- BMO’s no fee credit card option is great for students or newcomers who are building credit.
- BMO also offers several business cards, including the BMO Ascend World Elite Business Mastercard.
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Top BMO rewards credit cards side-by-side
With options to earn BMO Rewards, Air Miles, and good old-fashioned cash back, these four premium BMO credit cards have a lot to offer:
| BMO credit card | Welcome bonus | Annual fee & income requirements | Rewards | Apply now |
|---|---|---|---|---|
| BMO eclipse Visa Infinite* Card |  $150 GeniusCash + Up to 70,000 bonus points, first year free (terms) | * $120 * $60,000 personal, or $100,000 household | * 5 BMO Rewards points for every $1 spent on dining, groceries, gas, and transit * 1 point per $1 spent on all other purchases | Apply now |
| BMO Ascend™ World Elite®* Mastercard®* | $125 GeniusCash + Up to 90,000 100,000 bonus points, first year free (terms) | * $150 * $80,000 personal, or $150,000 household | * 5 points per $1 spent on travel * 3 points per $1 spent on dining, entertainment, and recurring bills * 1 point per $1 spent on all other purchases | Apply now |
| BMO eclipse rise Visa* Card | $125 GeniusCash + Up to 20,000 bonus points (terms) | * $0 * None | * 5 BMO Rewards points for every $2 spent on dining, groceries, and reccurring bills * 1 point per $2 spent on all other purchases | Apply now |
| BMO® Ascend World Elite®* Business Mastercard®* | $100 GeniusCash + Up to 70,000 100,000 bonus points (terms) | * $149 * $80,000 personal, or $150,000 household | * 4 points per $1 on gas, office supplies, and cell phone/internet bills * 1.5 points per $1 spent on all other purchases | Apply now |
The best overall rewards card
GC: $150
The BMO eclipse Visa Infinite Card has some of the best earn rates of any BMO credit card. We’re talking 5 points per $1 spent on everyday purchases, such as dining, groceries, gas, and transit, along with 1 point per $1 on all other purchases.
The card also starts you off with a nice welcome bonus, a valuable insurance package, and valuable perks like:
- Visa Infinite perks, including Luxury Hotel and Dining Series access
- 10% bonus rewards if you add an authorized user to your account
- An annual $50 lifestyle credit
A top rewards card for insurance
GC: $125
If you're a frequent traveller, the BMO Ascend World Elite Mastercard might be more your speed, offering a solid rewards earn rate combined with one of the best insurance packages of any BMO card. You’ll enjoy peace of mind knowing you have very extensive insurance coverage – 14 types, in fact, including medical emergency, hotel burglary, travel accident, and much more.
Of course, with a focus on travel, this credit card also has a few other impressive perks:
- Four lounge passes in Mastercard Travel Pass
- World Elite Mastercard benefits, including 24/7 concierge service
- Fuel and rental car discounts
The best no fee rewards card
You don’t have to pay an arm and a leg for a great BMO credit card. The BMO eclipse rise Visa Card has no annual fee and offers a high earn rate on select categories, making it an attractive card for someone new to credit cards or looking to build credit.
The card offers a decent welcome bonus of 20,000 points to start you off. Then, you’ll earn 5 points per $2 on dining, groceries, and recurring bills, along with 1 point per $1 on all other purchases. It also comes with:
- Seven cents off per litre at Shell
- Mobile device coverage
- Annual points bonus if you make a full year of on-time payments
Best business rewards card
×1 Award winner GC: $100
1x Award winner If you’re looking for a business credit card with helpful management tools, consider the BMO Ascend World Elite Business Mastercard, which gives you up to 4 points per $1 spent on gas, office supplies, cell phone, and internet bills. You'll also earn 1.5 points per $1 on all other purchases.
Of course, as a premium business credit card, you'll also enjoy some high-end perks and benefits, such as:
- The ability to pool points with your personal BMO credit card
- The opportunity to add employees and get liability protection
- Seven cents off per litre at Shell
- Mastercard Travel Pass lounge access with two passes
- 3 types of insurance
Top BMO rewards credit cards head-to-head
So, that's a rundown of what these BMO credit cards have to offer, but how do they compare to each other?
Welcome bonus
While a credit card welcome bonus is a one-time deal, it can still add significantly to the card's value, especially in the early days.
Here's how the estimated value of these BMO cards' welcome bonuses stack up:
The BMO Ascend World Elite Mastercard and BMO® Ascend World Elite®* Business Mastercard®* are tied with welcome offers valued at an impressive $670, while the BMO eclipse rise Visa Card's lags pretty far behind with its $134 value.
Annual fee
Premium credit cards generally have a similarly premium annual fee, and these four cards are no different. Three of these BMO cards charge an annual fee, while the BMO eclipse rise Visa Card is the only no fee option.
As you can see, both Ascend cards have relatively high fees. Luckily, all of these BMO credit cards waive the annual fee for the first year you have the card, giving you the chance to take them for a test drive before laying down any cold hard cash.
Average rate of return
If you're looking for the maximum return on your spending, it can be a little tricky to figure out, given that different rewards programs and redemption options have different values. Also, a lot depends on your personal spending patterns.
To estimate the average rate of return for each credit card, we run it through an algorithm that calculates what rewards you would earn for a typical $2,000 monthly spend, split sensibly between a number of everyday spending categories. Of course, your mileage may vary.
The BMO eclipse Visa Infinite Card takes the lead at 1.61%, but the BMO eclipse rise Visa Card coming in a pretty close second, with an average rate of return of 0.87%.
BMO Rewards overview
Here's a quick overview of the BMO Rewards program, what you can get with it, and the BMO Rewards points value.
How to earn BMO Rewards
The only way to earn BMO Rewards is with BMO credit cards. To learn how many points you’ll get with a BMO card, check its earning rates for specific categories.
The best BMO cards will allow you to earn up to 5 points per $1 spent on select categories.
How you can redeem BMO Rewards
BMO Rewards are flexible, offering you a wide range of ways to use your points, with fairly consistent BMO Rewards points value. Your redemption options include travel, investments, experiences, gift cards, merchandise, and statement credits.
FAQ
Are BMO rewards worth it?
BMO Rewards can be worth it, especially if you redeem your BMO points for travel, investments, or experiences, which offer the highest values. Unfortunately, this program offers significantly less value for when you redeem points for statement credits.
What is the best rewards credit card in Canada right now?
The best rewards card in Canada is the American Express Cobalt Card. Users can earn as much as 5 points per $1 on everyday spending categories. This card’s average rate of return is a very impressive 4.5%.
How much are 70,000 BMO points worth?
The value of 70,000 points depends on how you choose to redeem them. For the best value, redeem the points for travel, where they’ll be worth $469. Avoid redeeming them for merchandise, as they'd only be worth $315.
Is a BMO CashBack credit card good?
BMO has a few cash back credit card options: a basic no fee and premium World Elite Mastercard. The premium card is the better of the two, offering high earn rates, solid insurance, and a nice welcome bonus.
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