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Is the BMO Preferred Rate Mastercard Worth It Honest Review \u0026 BreakdownLow interest rate option � Preferred Rate card: Purchases and fees: Student Cards, Preferred Rate MasterCard. No fee. U.S. Dollar MasterCard. BMO Credit Cards. See offers from BMO below Low Interest � 0% APR � Balance Transfers � Cash Back � Rewards � Gas Rewards � Travel & Airline � Hotel � Small. You'll get a low rate of % for 9 months on balance transfers, with a transfer fee of 2%. A perfect way to save on interest. 2 things to note about balance.