Best BMO Credit Cards In Canada For October 2025
It's a major Canadian bank that offers several credit cards, but the BMO CashBack World Elite Mastercard is the best BMO credit card available. Not only is it a great cash back card for everyday purchases, but it also includes roadside assistance and solid insurance coverage.
But before making a decision, read through the following review of BMO’s credit card lineup to see which one best matches your spending habits, budget, and coverage needs. We've also highlighted each card’s eligibility requirements, so you can get an idea of what you qualify for before you apply.
Key Takeaways
- The best BMO credit card in Canada is the BMO CashBack World Elite Mastercard, followed by the BMO eclipse Visa Infinite Card.
- BMO offers a variety of credit cards for thrifty to moderate spenders but its premium products aren’t very competitive.
- BMO rewards credit cards earn cash back, AIR MILES, or BMO Rewards points, which an be redeemed for travel, gift cards, merchandise, and more.
- You can apply for a BMO credit card online, in person, or over the phone.
The best BMO cards compared
As one of the five major banks in Canada, BMO stocks a full lineup of credit offerings, including travel and premium credit cards. Because most credit card shoppers care about rewards, we’ve made it easy to compare each card’s earning power by calculating its return rate.
Rewards earned in $CAD / money spent in $CAD x 100 = return rate in %
A 5% return rate equals $5 in points or cash for every $100 you spend, but it’s rare to find a card so rewarding. The 7 best BMO credit cards in Canada don’t earn much but they cover a range of spending needs.
| Category | Credit card | Annual fee | Welcome offer | Features | Average return rate |
|---|---|---|---|---|---|
| Best in Canada | BMO CashBack World Elite Mastercard | $120 |  $150 GeniusCash + Up to $480 cash back in the first year, first year free (terms) | * 13 types of insurance included * Up to 3% cash back | 2.05% |
| Best for travel | BMO eclipse Visa Infinite Card | $120 | $150 GeniusCash + Up to 70,000 bonus points, first year free (terms) | * Up to 70,000 bonus points * Earn up to 5 points per $1 on purchases | 1.61% |
| Best for travel insurance | BMO Ascend World Elite Mastercard | $150 | $125 GeniusCash + Up to 90,000 100,000 bonus points, first year free (terms) | * 14 types of insurance included * Four airport lounge passes included | 1.09% |
| Best for AIR MILES | BMO AIR MILES World Elite Mastercard | $120 | $150 GeniusCash + Up to 9,000 bonus miles, first year free (terms) | * Automatic Onyx elite status * Earn 3 Air Miles per $12 spent | 1.35% |
| Best for business | BMO AIR MILES World Elite Business Mastercard | $149 | Up to 8,000 miles (terms) | * Combine points from up to 22 employees * Redeem points for business products | 1.17% |
| Best for students | BMO CashBack Mastercard for students | $0 | $20 GeniusCash + 5% cash back for the first 3 months (terms) | * Save 7 cents per litre at Shell * Earn 3% back on groceries | 1.01% |
| Best for low interest | BMO Preferred Rate Mastercard | $29 | 0.99% interest on balance transfers for 9 months (terms) | * 0.99% on balance transfers for nine months * 13.99% interest rate on purchases | 0.00% |
| Best for no fee | BMO CashBack Mastercard | $0 | $20 GeniusCash + 5% cash back for the first 3 months (terms) | * 5% cash back for the first three months, up to $2,500 in spend * Up to 3% cash back on purchases | 1.01% |
1. Best BMO credit card in Canada
GC: $150
Rewards:
- 5% cash back on groceries, up to $500 in monthly spend
- 4% cash back on transit, up to $300 in monthly spend
- 3% cash back on gas, up to $300 in monthly spend
- 2% cash back on recurring bills, up to $500 in monthly spend
- 1% cash back on all other purchases
Average return rate: 2.05%
BMO’s primary payment partner is Mastercard, and if their Mastercards have one strength, it’s cash back credit cards.
We named the BMO CashBack World Elite Mastercard one of the best grocery credit cards in Canada because it earns up to 5% back on food purchases. It also earns 1 – 4% back in four other spending categories and you can redeem your cash back on demand as soon as you collect at least $1.
Because it’s a cash back card, you won’t have to worry about maximizing rewards points – but using your World Elite Mastercard benefits may require some planning. Try asking your 24/7 complimentary concierge to buy you tickets to Cirque du Soleil with a 20% discount, or find a DragonPass airport lounge for you to visit for $32 USD. And it has a very rare perk: roadside assistance.
Pros:
- Up to 20% off Alamo, Enterprise, and National car rentals
- 13 types of insurance included
- 7% off accommodations at Booking.com
- Up to 7 cents off per litre at Shell
- Cash back rewards on demand
- Free roadside assistance
- World Elite Mastercard benefits
Cons:
- $80,000 personal or $150,000 household income required
- $300 – $500 monthly cap on eligible purchases, after which rewards drop to 1%
2. Best BMO travel credit card
GC: $150
Instant approval: YesCredit estimate:
Annual fee
$120.00
$0
1st year waived
Credit estimate: (560 - 659)Instant approval: Yes
GC: $150
Rewards:
- 5 BMO Rewards points for every $1 spent on dining, groceries, gas, and transit
- 1 point per $1 spent on all other purchases
Average return rate: 1.61%
The BMO eclipse Visa Infinite Card is a flexible travel credit card with high returns in four spending categories, where you'll earn 5 points per $1 spent. Once you’ve collected enough BMO Rewards points, you can trade them for a travel credit or deposit them to a BMO investment account for an average value of 0.67 cents per point (CPP).
Cost of reward in $CAD / cost of reward in points x 100 = value in cents per point (CPP)
If you decide to travel, you can use your Visa Infinite benefits to receive a complimentary food voucher, room upgrade, and in-room Wi-Fi at 900+ properties in the Visa Infinite Hotels Collection.
For even more travel perks and insurance, check out the super-premium BMO eclipse Visa Infinite Privilege Card.
Pros:
- $50 annual lifestyle credit
- 6 types of insurance included
- 10% bonus points for adding an authorized user
- Up to 7 cents off per litre at Shell
- Visa Infinite benefits
Cons:
- $60,000 personal or $100,000 household income required
- $50,000 annual cap on eligible purchases for 5x the points, after which rewards drop to 1 point per $1
3. Best BMO travel insurance credit card
GC: $125
Rewards:
- 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
Average return rate: 1.09%
Not to be outdone, the BMO Ascend World Elite Mastercard includes 14 of the 17 types of insurance available in Canada, including plenty of travel insurance. You can submit claims for cancelled flights, lost luggage, and even damaged rental cars, and save money by covering multiple trips with a single annual fee instead of buying coverage separately. Plus, you can earn up to 5 points per $1 spent on purchases, and the BMO Ascend World Elite Mastercard has the highest welcome bonus, worth $670.
BMO Ascend™ World Elite®* Mastercard®*
| Extended Warranty | 1 year |
| Purchase Protection | 90 days |
| Travel Accident | $500,000 |
| Emergency Medical Term | 21 days |
| Trip Cancellation | $1,500 |
| Trip Interruption | $2,000 |
| Flight Delay | $500 |
| Baggage Delay | $500 |
| Lost or Stolen Baggage | $500 |
| Personal Effects | $750 |
| Hotel Burglary | $1,000 |
| Rental Car Theft & Damage | Yes |
| Rental Car Accident | $200,000 |
| Rental Car Personal Effects | $1,000 |
Please review your insurance certificate for details, exclusions and limitations of your coverage.
Pros:
- 20% off Cirque du Soleil tickets and 15% off resident Las Vegas shows
- Up to 20% off Alamo, Enterprise, and National car rentals
- Up to 7 cents off per litre at Shell
- Up to 7% off accommodations at Booking.com
- Four free DragonPass airport lounge visits
- World Elite Mastercard benefits
- Worldwide acceptance for Mastercard
Cons:
- $80,000 personal or $150,000 household income required
- $10,000 – $15,000 annual cap on eligible purchases in the dining, travel, entertainment, and recurring bill spending categories, after which rewards drop to 1 point per $1
- 23.99% interest on cash advances
4. Best BMO AIR MILES credit card
×1 Award winner GC: $150
1x Award winner Rewards:
- 1 Mile for every $12 spent
- 3x the Miles for every $12 at participating Air Miles partners
- 2x the Miles for every $12 spent at any eligible grocery, liquor, and wholesale stores
Average return rate: 1.35%
The best AIR MILES credit card in Canada, the BMO AIR MILES World Elite Mastercard, boasts the highest miles-earning power in the country. You’ll earn bonus AIR MILES when you shop during promotional events or visit partners like Costco, Shell, or Global Pet Foods.
AIR MILES credit cardholders can collect Cash Miles and Dream Miles; you can trade Cash Miles for in-store discounts and vouchers and Dream Miles for flights, car rentals, vacation packages, and other travel. Don’t forget to take your card on vacation so you can take advantage of the Mastercard Travel Pass.
Pros:
- 25% off one Air Miles reward flight per year
- 24/7 credit score monitoring with CreditView
- Up to 20% off Alamo and National car rentals, and up to 4% off Enterprise
- 14 types of insurance
- Up to 7 cents off per litre at Shell
- Up to 7% off accommodations on Booking.com
- Automatic Air Miles Onyx status
- World Elite Mastercard benefits
Cons:
- $80,000 personal or $150,000 household income required
- Lower rewards than other premium cards
5. Best BMO business credit card
Rewards:
- 1 mile for every $12 spent
- 4x the miles at participating Air Miles partners
Average return rate: 1.17%
The BMO AIR MILES World Elite Business Mastercard’s most useful feature is its fantastic credit card insurance – including the ever-useful purchase protection coverage – which adds an estimated $397 of value. As a business credit card, it can also gather AIR MILES from up to 22 employee cards at once, which you can redeem for gas, office supplies, and building materials.
Pros:
- Up to 22 additional credit cards
- 13 types of insurance included
- Up to 7 cents off per litre at Shell
- Five complimentary virtual doctor visits through Maple
- Worldwide acceptance for Mastercard
- World Elite Mastercard benefits
Cons:
- $80,000 personal, $150,000 household, or $250,000 of business income required
- $50 additional card fee
6. Best BMO student credit card
Rewards:
- 3% cash back on groceries (up to $500 per month)
- 1% cash back on recurring bill payments (up to $500 per month)
- 0.5% cash back on all other purchases
Average return rate: 1.01%
The #1 student credit card in Canada may not earn much, but the BMO CashBack Mastercard for students has the lowest annual fee of any card on this list, as well as no income requirements. Using the BMO CashBack Mastercard for students, post-secondary students between the ages of 18 and 24 can start building their credit scores and earn cash back on groceries, recurring bills, and general spending.
Pros:
- 20% off Cirque du Soleil tickets and 15% off resident Las Vegas shows
- Up to 20% off Alamo, Enterprise, and National car rentals
- Up to 7% off accommodations at Booking.com
- Cash back rewards on demand
- Worldwide acceptance for Mastercard
Cons:
- Only 2 types of insurance included
- Only 0.5% cash back on general spending
- Must be a Canadian post-secondary student between 18 – 24 to apply
7. Best BMO low interest credit card
Rewards: None
Average return rate: 0.00%
The BMO Preferred Rate Mastercard boasts low interest rates, low income requirements, and a low annual fee. Canadians looking to consolidate their debt will find the introductory 0.99% balance transfer fee indispensable – just make sure to use it within nine months of signing up.
Pro Tip: See how much you could save by paying off a balance on the BMO Preferred Rate Mastercard instead of another card using our credit card interest calculator.
Pros:
- 15.99% interest on balance transfers
- 15.99% interest on cash advances
- 13.99% interest on purchases
Cons:
- Only 2 types of insurance included
- No rewards
8. Best BMO cash back card with no fee
Rewards:
- 3% cash back on groceries (up to $500 per month)
- 1% cash back on recurring bill payments (up to $500 per month)
- 0.5% cash back on all other purchases
Average return rate: 1.01%
If your primary goal with a credit card is to earn cash back without paying a fee, take a look at the BMO CashBack Mastercard. Unlike some rewards cards, you get to decide when you cash out your rewards – no waiting for your card’s anniversary date.
You can even select how you get your cash back. Options include depositing your cash back into a BMO chequing account, depositing it into your Investorline account, or applying as a statement credit.
Pros:
- No annual fee
- Save up to 7 cents per litre at Shell
- Flexibility with redeeming cash back
Cons:
- Only earns 0.5% cash back outside of bonus categories
- Limited insurance included
Compare all BMO credit cards
How we get our rankings
We rounded up every BMO credit card in Canada and picked the top seven by examining 126 credit card features in seven major categories:
- Rewards
- Fees
- Interest
- Insurance
- Perks
- Acceptance
- Approval
The creditcardGenius algorithm calculated each card’s returns based on $2,000 of monthly spending by the average Canadian. We then ranked them from most to least rewarding.
Learn more about the Genius Rating methodology
Pros and cons of BMO credit cards
Market research suggests BMO no longer ranks among the top five credit card issuers in Canada, but that doesn’t mean it’s not the right choice for many Canadians.
The best parts of owning a BMO credit card are:
- Over $300+ worth of insurance (for premium cards)
- Three flexible rewards programs: AIR MILES, BMO Rewards, and cash back
- A wide selection of Mastercard credit cards
- Low to moderate annual fees
- Low to moderate income requirements on non-premium cards
But you’ll have to learn to live with:
- A small selection of uncompetitive premium products
- Low to middling return rates, even with premium cards
- Low-value rewards point programs
- Small insurance packages on non-premium cards
- Standard interest rates on most cards
All in all, BMO credit cards target mostly moderate and thrifty spenders. If you can meet the high credit score and income requirements of a World Elite Mastercard or Visa Infinite Privilege credit card, there are more competitive options out there.
How do BMO credit cards work?
BMO offers a variety of cards that have appeared on many of our "best-of" lists. If you opt for a BMO rewards credit card, you have three choices: cash back, AIR MILES, or BMO Rewards.
How does cash back work?
Cash back credit cards collect a percentage of the total cost of all your purchases and return it to your pocket. You could receive your rewards as a statement credit on demand or as a cash voucher paid out once per year.
It’s rare for cash back cards to earn as much as travel credit cards or to collect more than 4% at more than one to two types of stores; most cards average 1 – 2%.
How VIPorter Rewards work
Two BMO cards include automatic VIPorter advanced status and earn VIPorter Rewards points, plus discounts on Porter flights. Once you’ve accumulated VIPorter Rewards points for everyday purchases, you can redeem them for flights with Porter, Air Alaska, and Air Transat.
Air Miles vs. BMO Rewards
Before we launch into our comparison, we want to point out that the AIR MILES rewards program is open to the general public, not just BMO credit cardholders. Create a free account (or get approved for an AIR MILES credit card), and you can start earning Cash Miles, Dream Miles, or a custom mix of the two on every purchase. To earn points with the BMO Rewards program, you must have an eligible BMO credit card.
Here’s how the programs compare:
| BMO Rewards | Air Miles | |
|---|---|---|
| Ways to earn points | * BMO credit card | * BMO credit card * Shopping at partner retailers * Air Miles online store * BMO banking products |
| Average point value | * Up to 0.67 CPP | * Cash Miles: 10.53 CPP * Dream Miles: up to 20 CPP |
| Redemption options | * Pay with points travel * Financial rewards * Gift cards * Merchandise * Redeem at retailers | * Cash Miles: cash vouchers and in-store discounts * Dream Miles: flights, activities, hotels, car rentals, and vacation packages |
| Pros | * Seven ways to redeem points * Member-exclusive shopping deals * No blackout dates, seat restrictions, or dynamic pricing on travel rewards | * Extensive list of online partners * Six ways to collect Miles and six ways to redeem them * Free for anyone to join * Miles can be gifted or pooled |
| Cons | * BMO credit card required * No transfer partners * Much lower point value for the majority of redemption options | * Limited number of in-store partners * Can’t buy or convert miles * Miles expire after 24 months of inactivity |
Be cautious when redeeming your points for gift cards, experiences, or merchandise – the only way to get the maximum value is to do your homework. Using our formula for determining cents per point means you don’t have to settle for anything less than 0.60 CPP!
Cost of reward in $CAD / cost of reward in points = value in cents per point (CPP)
How to choose the right BMO credit card for you
If you’re still on the fence about which BMO credit card to apply for, try asking yourself these questions:
- How much of an annual fee can my spending justify? Premium credit cards offer amazing perks and rewards but are offset by their hefty annual fees – usually at least $120 a year. Make sure you can get enough value out of the card’s rewards to at least match the annual fee’s dollar amount every year. Don’t forget to factor in the value of additional perks like roadside assistance, purchase protection, and extended warranty.
- What kind of rewards are best for me? Narrow your list of choices down by choosing a rewards category that best suits your lifestyle and spending habits. If you don’t travel much, a cash back or low interest rate card might be better for you. If you love to travel, a rewards card will likely get you more value.
- What are my biggest spending categories? The key to maximizing your rewards is picking a credit card with high-earning spending categories that match your spending habits. Do you spend more money on groceries, gas, or eating out? By assessing your spending habits, you can find the card that aligns with your shopping habits, so you earn the most rewards.
- Do I travel frequently? If you answered yes, you might search out a card that gives you rewards for loyalty programs you use or perks like airport lounge access, comprehensive travel insurance, or priority status at the airport.
- Do I carry a balance on my credit card? If you frequently do, check out a credit card that has a low interest rate so you’re not paying significant amounts of interest every month.
These questions should help you choose which type of BMO credit card is best for you, then you can further narrow down your choices with your credit score, annual income, and desired exclusive perks.
Pro Tip: Use the creditcardGenius quiz to help you discover the best overall credit card for your circumstances.
How to apply for a BMO credit card
Applying for a BMO credit card looks the same as applying for any other credit card:
- Check the eligibility requirements to avoid rejection and unnecessary hard credit score checks.
- Gather your required documents, including your contact information and proof of your identity, income, and residence.
- Submit your application over the phone, online, or in person at your local BMO bank.
- Wait up to several weeks for approval for your new credit card (although most online applications are approved or denied instantly).
Specialty products like student or business credit cards may require additional documents like proof of enrollment or ownership. Good luck!
FAQ
Which BMO card is the best?
The BMO CashBack World Elite Mastercard, is earns the title of the best BMO card because it takes the top spot in three competitive categories: highest estimated insurance value, highest rate of return, and highest estimated benefits value.
Are BMO credit cards good?
BMO offers a variety of rewarding no fee and cash back credit cards for moderate spenders, but their premium products lag behind market leaders. If you’re in the market for an Air Miles credit card, BMO is your only option.
How much are 60,000 BMO Rewards points worth?
If you do your homework, you could redeem 60,000 BMO Rewards points for up to $432 off an activity or experience on the BMO Rewards website, or trade them for a $402 travel credit at a guaranteed rate.
What credit score do you need for a BMO Mastercard?
BMO Mastercard credit score requirements vary by the type of credit card – regular or student Mastercards require a low to moderate credit score (300 – 559) while World or World Elite Mastercards require a good credit score (660+).
What is the minimum income for a BMO Mastercard?
BMO Mastercard income requirements range from $0 for a student credit card to at least $80,000 of annual personal income for a World Elite Mastercard. All World Elite Mastercards, even non-BMO options, generally have higher income requirements.
Which is better, TD or BMO?
TD and BMO tied at 9th place for overall customer satisfaction in a 2023 J.D. Power study. The BMO CashBack Mastercard beat TD in the no fee credit card category, but TD outperformed BMO for product satisfaction.
Does BMO offer Visa cards?
Yes, BMO offers three Visa cards: the BMO eclipse rise Visa Card, BMO eclipse Visa Infinite Card, and BMO eclipse Visa Infinite Privilege Card. Annual fees range from $0 for the basic card to $599 for the Visa Infinite card.
Editorial Disclaimer: The content here reflects the author's opinion alone. No bank, credit card issuer, rewards program, or other entity has reviewed, approved, or endorsed this content. For complete and updated product information please visit the product issuer's website. Our credit card scores and rankings are based on our Rating Methodology that takes into account 126+ features for each of 229 Canadian credit cards.
