The BMO Preferred Rate Mastercard stands out as an excellent choice for those looking for a balance transfer credit card with a low interest rate and added benefits. Despite charging an annual fee, the competitive 13.99% interest rate, along with other features, make it a compelling option.
Pros
- Annual fee rebate: The $29 annual fee is rebated for the first year
- Additional cardholder protection: The Zero Dollar Liability provides protecting against against unauthorized purchases.This card also includes free extended warranty which doubles the manufacturer’s warranty up to one year and purchase protection
Cons
- Higher promotional balance transfer rate: This card has a higher promotional rate for balance transfers compared to other balance transfer credit cards
