About Bank of Montreal The honor of being the oldest bank that was established in Canada goes to the Bank of Montreal. It was established in 1817 and is at present the fourth largest in Canada in terms of deposits holding. It has more than 900 branches around the country and also has a presence in the United States. It has its brand name as BMO Harris or Harris Bank in that country. It is also part of many associations for bankers in Canada like Canadian Bankers Association (CBA) and Canada Deposit Insurance Corporation (CDIC). The bank provides a variety of services to its customers like personal finances, business banking and also corporate and institutional services. These are in addition to the regular services offered by banks in Canada. The company is also involved in the credit card industry and is part of the MasterCard and its cirrus network.
Apply Today! Capital One - Platinum MasterCard®; 9.99% Guaranteed for 3 Years (as long as you pay your bills on time)!
Credit cards offered by Bank of Montreal The BMO offers its premium AIR MILES MasterCard brand of credit cards to its customers. The card’s main attraction is the reward points on offer. The customer gains a single point for every $20 he spends purchasing through the credit card. Also, the card does not charge any annual fee for the card. The card has a tie up with big brands and offers special reward points on purchases of that brand. It however charges an exorbitant interest rate of 19 per cent on its customers.
The bank also offers the BMO Gold AIR MILES MasterCard for its customers. The bank however charges an annual fee of $99 for the card. The card however, gives more reward points by the ratio of one point to every $15 purchase the customer makes using the card. The card also has double reward points and even triple reward points on select brands and even triple reward point on some brands. The card also gives AIR MILES points and discounts on airline tickets. It also charges a high interest rate of nearly 20 per cent. These cards, despite their features are hard on the pocket on account of their high interest rates.
BMO Low Interest Credit Card The bank of Montreal offers a low interest card for customers who cannot afford high interest rates. BMO Low Interest Credit Card however does not boast of many features like the other cards offered by bank of Montreal. The low interest credit card has interest rates lower than the MasterCard cirrus cards. The low interest however means that the card does not offer other benefits.
These cards are suitable for students and for people who are prone to defaulting on their payments and incurring interest on the amounts. The BMO Low Interest Credit Card may be chosen based on the purpose and the usage of the credit card and depends on the customer also. The low interest rates are sometimes utilized by customers to rotate loans in other cards through these low interest cards. The BMO Low Interest Credit Cards are popular among a select group of customers for their cost effectiveness. What is BMO Low Interest Credit Card
