Guide to BMO Credit Cards in Canada

Before applying for a BMO credit card, answer three questions.

First, decide what kind of rewards you want. Cash back is easiest to understand. BMO Rewards points offer more redemption flexibility. Blue Points may appeal to people who like partner-based rewards. VIPorter points are best for people who fly Porter often enough to use the program.

Second, decide whether an annual fee is worth it. A premium card may offer higher earn rates, stronger insurance or travel perks, but only if you use the benefits enough to offset the fee. A no-fee card may be better if you want a simpler card or are still building credit.

Third, be honest about whether you carry a balance. If you pay in full every month, rewards and perks can matter. If you carry a balance, interest charges can erase the value of rewards quickly, so a lower-interest card may be the better starting point.

A BMO credit card may make sense if you already bank with BMO, want to keep your financial products with one issuer or want access to one of BMO’s rewards systems. BMO’s lineup covers most major credit card needs, including cash back, flexible rewards, travel perks, student cards, low-interest cards and partner-based rewards.

The main advantage is choice. BMO has simple no-fee cards, premium cards with stronger benefits and several rewards currencies to choose from. That gives cardholders more ways to match a card to their spending habits.

The drawback is that BMO’s lineup can get confusing quickly. BMO Rewards, Blue Rewards and VIPorter are different programs, and points from one program do not work the same way as points from another. Before applying, make sure you know what the card earns, how redemptions work and whether you will actually use the rewards.

BMO CashBack

BMO cash-back cards earn a percentage of eligible purchases back as cash rewards. This is the simplest BMO rewards option because the value is easy to understand and compare.

Choose BMO cash back if you want low-effort rewards and do not want to manage a points program. The tradeoff is that cash-back cards may offer fewer travel perks than BMO’s premium travel and rewards cards.

BMO Rewards

BMO Rewards is BMO’s flexible points program. Cards like the BMO eclipse Visa Infinite and BMO Ascend World Elite Mastercard earn BMO Rewards points, which can be redeemed in multiple ways.

Choose BMO Rewards if you want points but do not want to be locked into one airline. Pay attention to redemption values, though, because flexible points are not always worth the same amount across every redemption option.

Blue Rewards

Blue Rewards is BMO’s successor to AIR MILES. BMO Blue Rewards credit cards earn Blue Points, which can be redeemed for travel, in-store rewards, eGift cards, merchandise and more.

Choose Blue Rewards if you already shop with participating partners or liked the AIR MILES model of partner-based rewards. If you do not want to think about partners, a cash-back card may be a better fit.

VIPorter points

BMO’s VIPorter cards are co-branded Porter Airlines cards. They earn VIPorter points and offer Porter-specific travel benefits.

Choose a VIPorter card only if you fly Porter often enough to use the airline benefits. For general travel rewards, compare these cards against BMO Rewards and Blue Rewards options.

BMO cardholder perks vary widely by card, so do not assume every BMO credit card comes with the same benefits. No-fee cards may offer lower costs and simpler rewards, while premium cards may include stronger insurance, travel benefits, airport lounge access or partner-specific perks.

Some BMO World Elite cards offer Mastercard Travel Pass membership through DragonPass and a set number of complimentary lounge passes. These perks can add value for frequent travellers, but they matter less if you rarely fly or do not travel through airports with participating lounges.

BMO’s travel-oriented cards may also include insurance benefits, such as emergency medical coverage, trip interruption or cancellation coverage, flight delay coverage, baggage protection, rental car coverage or mobile device insurance. Coverage varies by card, and exclusions, age limits, trip-length limits and purchase requirements can apply.

Blue Rewards cardholders may get more value from partner-based earning and redemption opportunities, while VIPorter cardholders may benefit more from Porter-specific perks like checked baggage, carry-on benefits, seat selection or companion-pass offers. Those benefits are only useful if they match how you already travel or shop.

BMO may not be the best fit if you want one simple card recommendation and do not care which bank issues it. Some BMO cards are strong, but the lineup is broad enough that choosing between rewards currencies can add work.

BMO may also be less appealing if you want a card tied to a loyalty program you already use outside BMO, such as Aeroplan, Avion, Scene+ or PC Optimum. In that case, compare BMO cards against the best cards in the specific rewards program you actually want.

If you expect to carry a balance, rewards should not be the deciding factor. Compare low-interest and balance-transfer cards first, then think about rewards once the debt is under control.