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BMO Harris Bank offers several credit card options designed for different spending patterns and financial goals. Whether you're looking to earn cash back, travel rewards, or build credit, understanding how these cards work and what they offer is essential before you apply.
BMO Harris credit cards are issued by BMO Harris Bank, one of the largest banks in the United States. Like any credit card, they allow you to borrow money for purchases and pay it back over time—with interest charged if you carry a balance. The specific features, rewards, and terms depend on which card you choose.
Key differences exist between BMO Harris cards, just as they do across the credit card market. Some cards emphasize cash back rewards, while others focus on travel benefits, introductory offers, or building credit for those with limited history.
Most BMO Harris credit cards offer rewards in the form of cash back or points. Here's how this typically functions:
The value you receive depends on your spending habits and how actively you use rewards. A card with strong grocery rewards only helps if you actually shop for groceries. Similarly, travel rewards are worthless if you don't redeem them before they expire (or if redemption options are limited in your situation).
Several variables shape whether a specific BMO Harris card makes sense for your finances:
| Factor | Why It Matters |
|---|---|
| Annual fee | Some cards charge yearly fees; others don't. Higher fees may be justified only if you use the card's benefits actively. |
| Interest rate (APR) | If you carry a balance, the APR determines how much interest you'll pay. Your creditworthiness affects what rate you'll qualify for. |
| Spending categories | Cards reward certain purchases more generously. Does the card reward what you actually buy? |
| Credit requirements | Some cards require good or excellent credit; others are designed for people building credit. Your credit profile determines eligibility. |
| Foreign transaction fees | If you travel internationally, these fees can add up quickly—or be waived entirely, depending on the card. |
| Bonus structure | Introductory bonuses only benefit you if you can meet spending requirements and actually use the rewards before they expire. |
Before applying, consider:
Your credit profile: Check what credit tier you likely fall into (excellent, good, fair, poor). This affects both approval odds and the terms you'll receive. You can review your credit report for free annually.
How you use credit: If you pay your balance in full each month, high interest rates matter less, and rewards become more valuable. If you carry balances, a lower APR may outweigh rewards entirely.
Your spending patterns: Track where your money actually goes over a few months. Does the card's rewards structure align with your real expenses?
Fee tolerance: Determine whether an annual fee could be offset by rewards or benefits you'll actually use. This varies widely by person.
Redemption flexibility: Some cards offer flexible redemption options; others lock you into specific programs. Understand what happens to rewards you don't use.
"A rewards card is always better than a no-rewards card." Not necessarily. If you carry high balances and pay interest, that interest often exceeds any rewards you earn. A lower-APR card might serve you better.
"I'll qualify for any card I apply for." Credit cards have eligibility requirements based on your credit score, income, and credit history. Your approval—and the terms you receive—depend on your individual profile.
"Introductory offers are free money." They're valuable only if you can use them. A bonus requiring $5,000 in spending doesn't help if you can't organically spend that amount without overextending yourself.
Read the card's terms carefully:
Your specific outcome depends on how you use the card and your financial discipline. A card that's excellent for one person might not work for another.
