Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Annual fee | $0 |
|---|---|
| Late payment fee | up to $41 |
| Foreign transaction fee | 3% |
| Cash advance fee | Either $10 or 5% of the amount of each |
| Balance transfer fee | Either $10 or 5% of the amount of each |
| Grace period | 25 days |
Analysis
On the record for Secured Credit Card, Premium Rewards, Escape and Wealth Management Credit Cards: no annual fee, filed by BMO Bank.
What this filing discloses
This page covers the agreement BMO Bank filed for Secured Credit Card, Premium Rewards, Escape and Wealth Management Credit Cards. The filing runs two pages.
The filing is explicit about an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. It is silent on a purchase rate, a cash advance rate and a balance transfer rate.
The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.
Collateral and the deposit
This is a secured agreement — the credit line is collateralised by a deposit. The disclosure table captured on this page covers pricing only; the mechanics of the deposit live in the body of the document.
Fees, and what triggers them
There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.
Taking cash against the card means a cash advance fee of $10 or 5% of the advance, whichever is greater. $200 is the crossover point where the percentage overtakes the $10 minimum.
Transfers are charged $10 or 5% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. Shifting $2,000 across attracts something like $100 in fees on day one.
Spending abroad costs an extra 3% — about $90 on $3,000 of purchases, independent of interest.
That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.
When a payment is late
$41 is the disclosed ceiling on a late payment fee, placing it near the 89th percentile of the set.
The no-interest path
Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.
Against the rest of BMO Bank's filings
4 separate BMO Bank filings appear in the corpus.
What is outside the disclosure
This page cannot tell you a purchase rate and penalty pricing, because the filing's disclosure table as read does not contain them.
What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.
Where the authority sits
The filed PDF is linked from this page and runs two pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.
In short
All of this rests on figures read from the filing with less than full confidence, which is reason enough to check the document before relying on any of it.
The source document
This page is a reading of one document: the cardholder agreement BMO Bank filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by BMO Bank, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from BMO Bank
This is the only agreement from BMO Bank in the database with enough disclosed terms to publish. See the issuer's full filing list.
Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed purchase APR among cards in the same groups.