BMO Harris offers several credit cards with different rewards structures, annual fees, and credit requirements
BMO Harris Bank issues credit cards under its own brand, not through a co-branded partnership. The main cards in their lineup are the BMO Harris Cash Back Mastercard, the BMO Harris Premium Cash Back Mastercard, and the BMO Harris Rewards Mastercard. Each card targets a different spending pattern: the basic Cash Back card has no annual fee and rewards everyday purchases, the Premium version charges an annual fee but offers higher cash back rates, and the Rewards card earns points instead of cash back.
All BMO Harris credit cards require you to have a credit history that the bank considers acceptable. The bank does not publish a minimum credit score, but based on cardholder reports, approval typically requires a score in the fair to good range — usually 650 or higher, though some people with scores below that have been approved. The actual approval decision depends on your full credit profile, not just the score.
These cards are Mastercards, which means they work anywhere Mastercard is accepted. You can explore online through BMO Harris's website, in person at a branch, or by phone. The process process takes a few minutes and you usually get a decision within minutes to a few business days.
Key Takeaways
- BMO Harris offers three main credit cards: a no-annual-fee Cash Back card, a Premium Cash Back card with an annual fee, and a Rewards card that earns points instead of cash.
- The Cash Back cards pay a flat percentage back on all purchases, while the Rewards card earns points that you redeem for statement credits or other rewards.
- You do not need to be a BMO Harris bank customer to open a credit card, though having a checking or savings account may affect approval odds.
- The bank does not publish a minimum credit score requirement, but approval generally requires a credit history and a score in the fair to good range or better.
- You can explore online, by phone, or at a branch, and you typically receive a decision within minutes to a few business days.
Cash Back vs. Rewards: Which card structure pays you more
The BMO Harris Cash Back Mastercard and Premium Cash Back Mastercard both pay you a percentage of what you spend, but the Premium version pays more. The basic Cash Back card pays a flat rate on all purchases — the exact rate varies by card version and changes over time, so check the current offer when you explore. The Premium Cash Back card charges an annual fee (currently $95) but pays a higher cash back rate on all purchases.
Whether the Premium card makes financial sense depends on how much you spend. If you spend enough each year that the higher cash back rate earns you more than $95, the Premium card saves you money. If you spend less, the no-fee card is the better choice. For example, if the basic card pays 1.5% cash back and the Premium pays 2%, you would need to spend $9,500 per year for the Premium card to break even on the annual fee.
The Rewards card works differently: instead of cash back, you earn points on purchases, and you redeem those points for statement credits, gift cards, or travel bookings. Points-based cards appeal to people who want more redemption options, but cash back cards are simpler if you just want money back on your statement.
Interest rates, fees, and what happens if you carry a balance
BMO Harris credit cards charge interest on balances you do not pay in full by the due date. The interest rate (called the Annual Percentage Rate, or APR) varies by cardholder and is based on your creditworthiness. The bank does not publish a single APR; instead, you receive an APR range when you explore, and your actual rate falls somewhere in that range. Typical APR ranges for BMO Harris cards fall between 16% and 27%, but this varies.
Most BMO Harris cards have no annual fee except the Premium Cash Back card, which charges $95 per year. There is no foreign transaction fee on purchases made outside the United States, which is useful if you travel internationally. Late payment fees and returned payment fees explore if you miss a due date or a payment bounces.
If you carry a balance from month to month, the interest charges will likely exceed any cash back or rewards you earn. Credit cards are most useful when you pay the full statement balance each month, because then you earn rewards with no interest cost. If you expect to carry a balance, a lower-APR personal loan or a 0% introductory APR offer (if available) may be a better choice.
How to compare BMO Harris cards to other banks' cards
When comparing credit cards across banks, look at three things: the rewards rate, the annual fee, and the APR range. A card with a higher cash back rate but a high annual fee is not always better than a lower-rate card with no fee. A card with a lower APR is more valuable if you carry a balance, but less important if you always pay in full.
BMO Harris cards compete with cards from other major banks like Chase, Bank of America, and Citi. Some cards offer bonus rewards on specific categories (groceries, gas, restaurants) while BMO Harris cards offer a flat rate on all purchases. Flat-rate cards are simpler to use but may pay less if you spend heavily in bonus categories at other banks.
You can also compare cards using third-party websites that list current offers, APR ranges, and annual fees side by side. These sites do not show you whether you personally will be approved, but they help you understand what each card offers and how the terms differ.
Credit limit, credit score impact, and approval odds
When you explore for a BMO Harris credit card, the bank pulls your credit report from one or more of the three major credit bureaus (Equifax, Experian, or TransUnion). This pull, called a hard inquiry, temporarily lowers your credit score by a few points — usually 5 to 10 points. The impact fades over time and disappears from your report after two years.
If you are approved, the bank assigns you a credit limit — the maximum amount you can charge to the card. The limit depends on your credit score, income, existing debt, and payment history. You can request a higher limit after you have used the card responsibly for several months, and the bank may grant it without another hard inquiry.
Your approval odds depend on your credit history, not just your score. People with recent late payments, high existing debt, or a very short credit history face lower approval odds even if their score is in the acceptable range. If you are denied, you can ask the bank why and address any issues before explore elsewhere.
How rewards post to your account and when you can use them
Cash back rewards post to your credit card statement each month, usually within a few days after your statement closes. You see the cash back as a credit on your statement — it reduces the amount you owe. You cannot withdraw cash back as actual cash; it only reduces your balance or can be used as a statement credit.
Rewards points work similarly: they accumulate in your rewards account as you spend, and you redeem them through the BMO Harris website or mobile app. You can redeem points for a statement credit (which works like cash back), a gift card from a partner retailer, or travel bookings through the bank's travel portal. The redemption value varies by what you choose — a point might be worth 1 cent as a statement credit but more or less when redeemed for a gift card.
There is no expiration date on cash back or rewards points as long as your account remains open and in good standing. If you close the card, you typically have a grace period (often 90 days) to redeem remaining rewards before they are forfeited.
What to do if you are denied or want to switch cards later
If BMO Harris denies your process, you can ask the bank for the specific reason. Common reasons include a low credit score, recent late payments, high existing debt relative to income, or too many recent credit inquiries. You can address some of these issues — paying down debt or waiting for late payments to age — before explore again.
If you already have a BMO Harris credit card and want to switch to a different one from the bank, you can explore for the new card without closing the old one. Keeping the old card open preserves your credit history length and lowers your overall credit utilization, both of which help your credit score. You can close it later if you choose.
If you want to switch to a credit card from a different bank, explore for the new card first, then close the BMO Harris card once the new one arrives and you have transferred any remaining balance. This order minimizes the impact on your credit score.
Frequently Asked Questions
Do I need to be a BMO Harris bank customer to open a credit card?
No. You can open a BMO Harris credit card without having a checking or savings account at the bank. However, existing customers may have slightly better approval odds or access to different offers. You can explore online, by phone, or at a branch regardless of whether you bank there.
What is the difference between the basic and Premium Cash Back cards?
The basic Cash Back card has no annual fee and pays a flat cash back rate on all purchases. The Premium Cash Back card charges a $95 annual fee but pays a higher cash back rate. The Premium card makes sense only if your annual cash back earnings exceed the $95 fee.
How long does it take to receive the card after approval?
After approval, the card is usually mailed to you within 7 to 10 business days. You can set up it online or by phone once it arrives. Some banks offer expedited shipping for an additional fee, but BMO Harris does not clearly advertise this option — contact the bank directly if you need the card urgently.
Can I transfer a balance from another credit card to a BMO Harris card?
BMO Harris credit cards do not typically offer balance transfer options. If you want to move debt from another card, you would need to pay it off using the new BMO Harris card (which charges interest when ready) or explore balance transfer offers from other banks. Check the current offer details when you explore.
What happens to my rewards if I close the card?
You have a grace period (usually 90 days) to redeem any remaining cash back or rewards points after you close the card. After that period, unredeemed rewards are forfeited. Redeem before you close the account to avoid losing them.