Comparing Best BMO Credit Cards 2024

BMO offers some of the best credit cards in Canada that earn BMO or AIR MILES rewards or cashback. Many credit cards come with additional perks, such as complimentary airport lounge passes, travel-related insurance, discounts, and other features.

BMO credit cards let you earn reward points for your everyday spending. These points can be redeemed for travel, shopping, investments, gift cards, or statement credits through the BMO Rewards website. BMO credit cards also have generous welcome bonuses that can help you get more value from your card.

If you prefer cash back, BMO offers some of the best cash back credit cards in Canada. BMO credit cards offer up to 5% cash back on everyday purchases, many of which are available for students and newcomers.

BMO also offers special-use credit cards, including low-interest, no-fx fee, and prepaid credit cards. Below, you can find the best BMO credit cards, compare them with others, and pick the best one for your needs.

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To choose the best credit card, you should consider its rewards, annual fee, welcome bonus, other perks, and other costs, including interest rate and overdraft fees. If you are looking for a special-use credit card, such as a low interest rate, you should pick one based on other factors.

The credit card rewards determine how much value you get from your credit card. Credit card rewards can be earned on different spending categories such as groceries, gas, transit, etc. Some spending categories offer more or less rewards depending on the credit card. The best credit card should bring the most value based on your spending habits.

BMO Rewards

These are the most common rewards for BMO credit cards. BMO reward is a flexible program that allows you to redeem your points in different ways from gift cards to travel bookings.

AIR MILES Rewards

BMO acquired AIR MILES in July 2023. Since its acquisition, BMO has offered two credit cards with AIR MILES rewards. AIR MILES offers two redemption paths: Dream Miles and Cash Miles.

Cashback

Cashback is the most simple type of reward. Cashback has a fixed value, which makes it easy to work with. BMO has two cashback credit cards. The basic one offers up to 3% cash back on common spending categories, while the premium credit card offers up to 5% cash back.

An annual fee directly lowers the value you get from rewards. The higher the annual fee, the more rewards you should get to compensate for it. No annual fee credit cards may be a great choice as the first or additional credit cards. Generally, credit cards with moderate annual fees suit the majority of people. Cards with high annual fees also have other perks that may not have a clear monetary value. For example, your credit card may have extensive insurance or airport and flight perks. You should carefully study the card to see whether the perks are worth the card's annual fee.

Current welcome bonuses can help you get months or even years' worth of bonuses upon getting the credit card. People even use a credit card churning strategy to get the most out of the welcome bonuses without paying annual fees.

You can contact BMO for all your credit card inquiries in several ways. You can call their toll-free number 1-800-263-2263 or visit one of their branches in person. Customers who use BMO Online Banking can also get in touch through email by logging into their accounts.

Report a lost or stolen BMO credit card: 1-800-361-3361.

Report a lost or stolen BMO credit card from outside North America:514-881-3845.

There are two ways how to activate BMO credit cards:

• Mobile Banking App: Sign in to your mobile banking account using your credentials. Select manage cards from the menu. Tap activate my card and follow the activation instructions.
• Online Activation Page: If you don't already have online banking, visit the online activation page and enter your card details to activate it.