This is BMO's low-rate card, and its main job right now is moving debt: 0% on balance transfers for 18 statement periods, longer than the 10 months on CIBC's Select Visa or the 12 on MBNA's True Line. Outside the promotion it charges 13.99% on purchases and 15.99% on cash advances and balance transfers, against 21.99% on purchases with BMO's no-fee CashBack Mastercard.
I'd point it at someone with a card balance to clear over a year and a half. The trade-offs are a 3% transfer fee, a $29 fee from year two (rebated every year if you hold a BMO Performance chequing account), and nothing back: no points, no cash back, and only purchase cover for insurance.
Welcome offer
BMO's welcome offer is a 0% introductory interest rate on balance transfers for 18 months, with a 3% fee on each transfer, plus the $29 annual fee refunded for the first year, verified on BMO's page on October 15, 2026. BMO calls it Canada's best balance transfer introductory rate and term, based on its own comparison of Canadian cards as of February 23, 2026. The offer is for new customers who applied on or after September 15, 2026, and BMO prints no end date.
The 18 months are counted in statement periods from the day the account opens, not from each transfer, so a balance moved in the 12th statement period gets only the remaining 6 at 0%. Whatever is left when the period ends is charged the standard cash advance rate of 15.99%. Each transfer costs 3% (BMO's own example: $30 on $1,000), the minimum transfer is $100, and balances from other BMO cards cannot be moved.
Move the debt right after approval so it gets the full 18 statement periods, then divide the balance by 18 and pay at least that much each month. While a transferred balance remains, BMO charges interest on new purchases unless you pay the full account balance, so keep everyday spending on another card.
Fees & eligibility
The card costs $29 a year, refunded for the first year under the current offer, and additional cardholders are free. If you also hold a BMO Performance chequing account, BMO rebates the $29 every year (a minimum annual spend requirement applies). BMO asks that you are a Canadian citizen or permanent resident of the age of majority with no bankruptcy in the past seven years, and says minimum income requirements apply without printing a figure.
Purchases carry 13.99% interest and cash advances and balance transfers 15.99%, with no separate Quebec rate. Two missed minimum payments in 12 months raise those to 25.99% and 27.99% for at least 12 months. Purchases get a grace period of at least 21 days when you pay in full, there is none on cash advances or balance transfers, and foreign currency purchases carry a 2.5% conversion fee.
The fee pays for itself once you carry enough debt. Against the 21.99% purchase rate on BMO's no-fee CashBack Mastercard, the 8-point gap saves $8 a year for every $100 of balance carried, so the $29 fee is covered once your average balance is above roughly $363.
Perks & benefits
The perks lean toward keeping costs down. The headline is the 0% balance transfer offer for 18 statement periods, and the $29 annual fee rebate every year for BMO Performance chequing customers can make the card free to keep. BMO PaySmart installment plans split eligible purchases of $100 or more into monthly payments.
Car rentals get up to 30% off Avis base rates and up to 35% off Budget base rates when you prepay with the card, or at least 10% off when you book with it. Additional cardholders are free. There is no lounge access, no travel credit and no travel insurance; BMO sells single-trip and multi-trip travel plans separately.
Insurance
Insurance is limited to extended warranty and purchase protection, from BMO's Mastercard certificate underwritten by CUMIS General Insurance Company. Items bought in full with the card are covered against theft or damage for 90 days, and the manufacturer's warranty is doubled up to a maximum of 1 extra year.
Both share a $60,000 lifetime limit, and they pay only after any other insurance you have. There is no travel insurance of any kind: the product page says so plainly and points to BMO's paid travel plans instead. Credit Card Balance Protection, up to $20,000 of balance cover, is a separate optional enrolment.
My take
I'd get this card to clear existing card debt over 18 months at 0%; if you pay in full every month, I'd skip it for a no-fee rewards card.
Eighteen statement periods at 0% is longer than CIBC Select's 10 months or MBNA True Line's 12, and with the first-year fee refunded, the transfer fee is the main cost. On a balance you would otherwise carry at 21.99%, a one-time 3% fee is small next to a year and a half of interest.
The downsides: the 3% fee is triple CIBC Select's 1%, the clock runs from account opening rather than from the transfer, and anything left over moves to 15.99% with no grace period. There are no rewards, so once the debt is gone I'd only keep it if a Performance chequing account makes the fee disappear.
The good
- 0% on balance transfers for 18 statement periods
- 13.99% purchase rate
- Fee refunded in year one, and every year with Performance chequing
The catch
- 3% balance transfer fee
- Leftover transfers move to 15.99%, with no grace period
- No rewards and no travel insurance