BMO Harris Bank Premium Rewards Mastercard® Credit Card
- Annual fee
- $0 for the first year. After that, $79
- Recommended credit
- Excellent
- Card network
- Mastercard
- Regular purchase APR
- 20.24% to 28.24% variable based on creditworthiness and the Prime Rate
At a glance
The BMO Harris Bank Premium Rewards Mastercard® has many features that can make it an good credit card to have in your wallet. Most of its benefits are available within the first 12 months of opening an account. Cardholders can take advantage of an introductory bonus points offer, 0% introductory APR on balance transfers, and no fee for the first year they have their credit card. Keep reading to learn more about this card’s features.
Our review of the BMO Harris Bank Premium Rewards Mastercard® Credit Card
Are you looking for a credit card that offers a package of attractive benefits? The BMO Harris Bank Premium Rewards Mastercard may be just what you need. From a 0% introductory APR on balance transfers to a tiered point system with an introductory bonus, this card has a lot to offer. However, before you apply, there are some important details you should know.
Earn Rewards Points on Every Purchase
With the BMO Rewards Card, you can earn points on every purchase you make with your credit card. For most purchases, you’ll earn one point for every dollar spent. However, eligible dining, hotel, and airfare purchases will earn you three points per dollar, and gas and grocery purchases will earn you two points per dollar.
Keep in mind that there are limits on how many points you can earn. You can only earn 3X points on purchases totaling up to $2,500 each quarter, and you can only earn points on a maximum of $30,000 in purchases per year. Additionally, BMO rounds purchase amounts to the nearest dollar, so small change can add up over time.
The good news is that your points do not expire as long as your account is open, giving you the opportunity to accumulate a lot of points for a variety of rewards. However, certain transactions, such as gambling and cash advances, will not earn you bonus points.
Bonus Points
The Rewards Mastercard also offers opportunities to earn bonus points. With an introductory bonus of 35,000 points if you spend at least $5,000 within the first 90 days of opening an account, you can quickly rack up points. Additionally, BMO offers a 15% bonus every year on the anniversary date of your account opening.
What Are Your Points Worth?
One drawback of the BMO Premier Rewards Card is that you won’t know the value of your points until you become a cardholder. However, according to the BMO website, the introductory bonus points can be redeemed for $435 in travel credits.
Transfer a Balance for 0% APR for 12 Months
The Premier Rewards Mastercard offers an introductory interest rate of 0% on balance transfers for 12 months, making it an attractive option for those looking to consolidate debt. There are no foreign transaction fees, and the card comes with additional perks such as access to airport lounges through Priority Pass and Mastercard’s Priceless Cities.
Should You Apply?
Overall, the BMO Harris Bank Premium Rewards Mastercard has a lot to offer, especially for those looking for a balance transfer credit card or frequent travelers. With its rewards program and additional perks, it’s worth considering if you can take advantage of its benefits. Explore other BMO Harris card offers to find the right fit for your financial needs.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- Earn 3 points per $1 spent on eligible dining, hotel and airfare, up to $2,500 in combined spend each calendar quarter
- Annual fee waived for first year
- Get a 15% anniversary point bonus every year
- 0% introductory APR for 12 months on balance transfers made within 90 days from account opening
Who this card may suit
- You want to transfer a balance from a high interest credit card and pay it off in 12 months
- You want to earn rewards points for the purchases you make
- You want to join a rewards program that offers opportunities to earn more points
- You don’t want to pay foreign transaction fees when you travel
Rates, fees and terms
| Annual Fee | $0 for the first year. After that, $79 |
|---|---|
| Regular Purchase APR | 20.24% to 28.24% variable based on creditworthiness and the Prime Rate |
| Intro Balance Transfer APR | 0% for 12 months on transfers made within 90 days from account opening date |
| Balance Transfer APR | 20.24% to 28.24% variable based on creditworthiness and the Prime Rate |
| Balance Transfer Transaction Fee | Either $10 or 4% of the amount of each transfer, whichever is greater |
| Cash Advance APR | 32.49% variable based on the Prime Rate |
| Cash Advance Transaction Fee | Either $10 or 5% of the amount of each cash advance, whichever is greater |
| Late Payment Penalty Fee | Up to $39 |
| Return Payment Penalty Fee | Up to $39 |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Excellent Credit.
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BMO Harris Bank Premium Rewards Mastercard® Credit Card
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