BMO · Mastercard · None (low-rate card, no rewards program)
Reviewed 2026-07-06 · By The Points Standard editorial team
BMO Preferred Rate Mastercard
Less a low-rate card than a debt-paydown instrument. Move the balance, set an 18-month payment plan, and the 2% transfer fee is the only interest you'll effectively pay.
Standard Score breakdown — Pass
Six weighted components, each rated 0–10. "Contributes" is the rating × weight — add all six and you get the 3.32/10 Standard Score above.
See how the Standard Score works or re-weight it to your priorities.
The numbers
| Annual fee | $29 |
| Welcome bonus | 0% interest on balance transfers for 18 months (2% transfer fee) — the longest 0% window in Canada right now — plus first-year fee waived |
| Est. bonus value | ≈ $0 |
| First-year net value | ≈ $0 |
Earn rates
| All purchases | No rewards — 13.99% purchase rate |
Why it earns its score
- 18-month 0% balance-transfer window at a 2% fee — the longest runway in Canada to pay down card debt
- 13.99% ongoing purchase rate, with cash advances at 15.99% (lower than most cards' 22%+)
- First-year fee waiver makes the debt-paydown year free
Where it loses points
- No rewards of any kind
- $29 fee returns in year two — cancel or downgrade if the balance is gone
- 13.99% is the highest purchase rate among our top low-interest picks
Who it's for
Anyone with existing card debt to attack: 18 months at 0% is the longest interest-free runway currently offered in Canada.
Who should skip it
You have no balance to transfer — the ongoing rate is beaten by both MBNA cards and the Flexi.
Included insurance
Purchase protection (90 days) · Extended warranty (+1 year)
Source: issuer card page · Last reviewed 2026-07-06. Details change often — confirm current terms with the issuer before applying.