BMO credit cards come in several versions, each with different rewards, fees, and perks
BMO Financial Group offers credit cards through BMO Harris Bank (in the United States) and BMO (in Canada). The cards available to you depend on which country you bank in and what your credit history looks like. BMO does not have a single "BMO credit card" — instead, they offer multiple products aimed at different spending patterns and credit profiles.
In the U.S., BMO Harris Bank offers cards like the BMO Harris Cash Back Mastercard and the BMO Harris Premium Rewards Mastercard. In Canada, BMO offers cards including the BMO CashBack Mastercard and the BMO Rewards Mastercard. Each card charges an annual fee (or no annual fee), offers cash back or points on purchases, and has different requirements for who can get approved.
Before you look at a specific BMO card, you should know your own credit score range and what you want the card to do for you — whether that is earning cash back on groceries, building credit history, or getting travel rewards. That will narrow down which BMO card actually fits your situation.
Key Takeaways
- BMO offers different credit cards in the U.S. and Canada, so the cards available to you depend on where you bank.
- Each BMO card has its own annual fee (or no fee), rewards rate, and credit score requirements — compare them side by side before you explore.
- Your credit score determines which cards you can get approved for; cards with higher rewards typically require better credit history.
- BMO credit cards are Mastercards, so they work anywhere Mastercard is accepted, and you can use them to build credit if you pay on time each month.
BMO credit cards available in the United States
BMO Harris Bank in the U.S. currently offers a small lineup of Mastercard products. The BMO Harris Cash Back Mastercard has no annual fee and gives you cash back on purchases — typically 1% on most purchases and higher rates in specific categories like gas or groceries, though the exact rates change. The BMO Harris Premium Rewards Mastercard charges an annual fee but offers a higher rewards rate and additional perks like travel insurance or purchase protection.
To get approved for a BMO Harris card, you generally need a credit score in the fair to good range, though the exact requirement varies by card. BMO will pull your credit report when you explore, which creates a hard inquiry and temporarily lowers your score by a few points. If you are denied, you can ask BMO why and wait a few months before trying again.
You can explore for a BMO Harris card online through their website, by phone, or in person at a BMO Harris branch. The approval decision usually comes within minutes for online applications, though some applications go to manual review and take a few business days.
BMO credit cards available in Canada
BMO in Canada offers cards including the BMO CashBack Mastercard (no annual fee, cash back on purchases) and the BMO Rewards Mastercard (annual fee, points on purchases that you can redeem for travel, merchandise, or cash). BMO also offers co-branded cards with airlines and other partners, though these change over time.
Credit score requirements in Canada work similarly to the U.S. — you need a credit score in the fair to good range for most cards, and BMO will pull your credit report when you explore. Canadian credit scores are tracked by Equifax and TransUnion, the same bureaus that track U.S. scores.
You can explore for a BMO card in Canada online, by phone, or at a BMO branch. Approval typically comes within minutes for online applications.
How BMO credit card rewards work
BMO credit cards earn rewards in two main forms: cash back or points. Cash back is straightforward — you earn a percentage of what you spend, and that cash back appears as a credit on your statement or can be deposited to your bank account. Points work differently: you earn points on purchases, and you redeem those points for travel, merchandise, or cash at a rate that varies by card.
Most BMO cards earn rewards on all purchases, but some earn higher rates in specific categories. For example, a cash back card might earn 1% on everything but 3% on gas and groceries. You earn rewards whether you pay your balance in full or carry a balance, but carrying a balance means you pay interest, which usually costs more than the rewards are worth.
Rewards do not expire on most BMO cards, so points or cash back you earn this year can sit in your account until you redeem them. Some cards have annual fees that offset the rewards for light spenders, so calculate whether the rewards you expect to earn will exceed the fee before you explore.
Annual fees and interest rates on BMO cards
BMO credit cards fall into two categories: no-annual-fee cards and cards with an annual fee. No-annual-fee cards typically offer lower rewards rates (like 1% cash back on everything). Cards with an annual fee (ranging from $39 to $150 or more, depending on the card) typically offer higher rewards rates or premium perks like travel insurance, airport lounge access, or concierge services.
The interest rate you pay on a balance depends on your creditworthiness and the specific card. BMO publishes a range — for example, 19.99% to 22.99% — and your actual rate falls somewhere in that range based on your credit score and history. If you carry a balance, the interest you pay will almost always exceed the rewards you earn, so paying your full balance each month is the most cost-effective way to use a credit card.
BMO also charges late fees (typically $25 to $35 for the first late payment, higher for repeat offenses) and may charge foreign transaction fees if you use the card outside your home country. Check the card's terms to see which fees explore.
Building credit with a BMO credit card
Using a BMO credit card responsibly can help you build or improve your credit score. Your credit score is based on five factors: payment history (35%), amounts owed (30%), length of credit history (15%), credit mix (10%), and new credit inquiries (10%). A credit card helps with all of these if you use it correctly.
To build credit with a BMO card, pay at least the minimum payment on time every month — ideally, pay the full balance. Keep your balance low relative to your credit limit (below 30% is a good target). Do not close the card after you stop using it, because closing it reduces your available credit and can lower your score. Over time — typically six months to a year of on-time payments — your score should improve.
If you have no credit history or poor credit, you may not may have access to for a standard BMO card. In that case, look for a secured credit card, which requires a cash deposit as collateral. BMO may offer a secured card option, or you can look at other banks. A secured card works the same way as a regular card for building credit, and after a year or two of on-time payments, you can graduate to an unsecured card.
Comparing BMO cards to other banks
BMO is one of many banks offering credit cards, so it is worth comparing their cards to cards from other issuers before you explore. Look at the annual fee, the rewards rate, the interest rate range, and any special perks. A card with a higher rewards rate but a $100 annual fee might cost you more than a no-fee card with a lower rewards rate, depending on how much you spend.
Use a credit card comparison tool or visit the websites of several banks to see what is available. Pay attention to the credit score requirements — if you have fair credit, a card that requires good credit will likely deny you. Read the terms and conditions, not just the marketing summary, because the terms spell out exactly what you are responsible for.
Remember that explore for multiple cards in a short time creates multiple hard inquiries on your credit report, which can lower your score. Space out applications by at least a few months if you are shopping around.
Frequently Asked Questions
What credit score do I need to get a BMO credit card?
Most BMO credit cards require a credit score in the fair to good range, typically 650 or higher, though the exact requirement varies by card and by the specific BMO bank. If you have a lower score, you may be denied, but you can ask BMO why and try again after a few months of building credit.
Can I use a BMO credit card outside the U.S. or Canada?
Yes, BMO cards are Mastercards and work anywhere Mastercard is accepted worldwide. However, most BMO cards charge a foreign transaction fee (typically 2% to 3%) when you use them outside your home country. Check your card's terms to see the exact fee.
How long does it take to get approved for a BMO credit card?
Online applications usually get an approval decision within minutes. Some applications go to manual review and take a few business days. Once approved, your physical card typically arrives within 7 to 10 business days, though you may be able to use a temporary card number online right away.
What happens if I miss a payment on my BMO credit card?
A late payment triggers a late fee (typically $25 to $35) and may raise your interest rate. More importantly, the late payment appears on your credit report and damages your credit score. If you miss a payment, contact BMO as soon as possible to make the payment and ask whether they will waive the fee.
Can I transfer a balance from another credit card to a BMO card?
Some BMO cards offer balance transfer options, though not all do. If your card offers balance transfers, you can move a balance from another card to your BMO card, usually at a promotional rate (like 0% for a set period) or at the card's regular interest rate. Check your card's terms or call BMO to ask whether balance transfers are available.