Almost every financial institution in Canada offers credit cards to its customers. The major credit card- issuing companies— Visa and Mastercard— issue different types of cards. Canadians can choose from over 200 different cards: In addition to the companies mentioned above, plus Discovery and American Express, which are also popular in the country, companies such as Canadian Tire and Sears, issue their own credit cards.
To get a credit card account with any bank, one must first open an account there. Most credit card companies provide the option of paying one’s bills online; to do so, one needs to register with them. That done, the customer logs in and goes to the online bill paying section of the site, where he pays with his card or through PayPal. Once the payment is made, an online receipt appears, to be printed for the account holder’s records.
As with credit cards everywhere, those in Canada offer bonus points to those who spend a certain amount of money on certain things. This article will be exclusively about BMO (Bank of Montreal) cards.
This prominent Canadian bank offers MasterCard rewards. To apply, a customer can choose personal, small business, or student, and (optionally) narrow the search to AIR MILES®† Rewards, ELITE Travel Rewards, CashBack® Rewards, No Annual Fee, Low Rate Option, US Dollar, and Prepaid (or any combination of these). The choices of cards are:
- BMO Gold Air Miles offers a 25 percent discount on all flights; 1,000 AIR MILES bonus reward; double the reward at Shell 3, National Car Rental and Alamo Rent A Car; and a Collision Damage Waiver under BMO Travel Protection.
- BMO Air Miles requires no annual fee, rewards a mile for every $20 spent on the card, and provides 1.5x reward miles at Shell 2, National Car Rental and Alamo Rent A Car.
- BMO World Elite is for travelers; it provides medical coverage in case one gets sick while traveling in a foreign country; 1 BMO ELITE Rewards point for every dollar spent; and exclusive access to entertainment events like theater and concerts. Priority Pass membership gives the holder access to VIP lounges at airports around the world. All flight charges are covered by these packages. Reward points earned on this card never expire.
- BMO Premium CashBack returns one percent on every purchase made, and three percent at Shell 2, National Car Rental and Alamo Rent A Car. Free BMO Roadside Assistance is also provided for.
- BMO Preferred Rate is also free of any annual charges. Its returns are lower than those on Premium CashBack.
- BMO Prepaid Travel is paid in advance, and has zero liability to protect the holder from unauthorized use of the card.
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