Have you ever felt embarrassed by sudden changes in exchange rates at times when you are shopping or are a visitor in the U. S.? The BMO U. S. Dollar Mastercard is here to void such instances, it affords a solution for managing your USD costs with ease. 

Whether you use the card to frequently travel or patronize stores of retailers sourced from the United States, this card will make it easy for you. Now let’s look at the specifics to see how this card can enhance your shopping and travelling.

Main features of the BMO U.S. Dollar Mastercard 

The BMO U. S. Dollar Mastercard is provided by an issuer that is the Bank of Montreal – a major bank in Canada that is considered to be rather reliable and customer-oriented. They are very useful for clients, who travel to the United States or order goods from American sellers often. 

One of the options is to use U. S. dollars for the payment, so there will be no question for the constantly fluctuating exchange rates when buying something. It is a world card and this means that wherever your journeys shall take you; the card shall have your back..

Understanding the annual fee 

Now one of the most important things which reflect in every credit card is the term ‘annual fee’ or ‘annual charge’. In the case of the BMO U. S. Dollar Mastercard, the annual fee is the range of U. S. $ 49. But there is fashion to have this fee rebated. 

If in any year you make a total of U. S. $3000 or more in any one year, following year’s fee is rebated to your card. That means it is possible to fully use all the options of this card and have no stress about the annual fee if it is charged. 

Deciphering credit limits

As for credit limit, BMO analyzes the client’s financial status to understand if the limit provided meets the client’s need. Indeed, this process includes credit score check; the current methods of payments used; loans repayments; and the benefits to be expected in repayment of the loans.

Advantages of the BMO U.S. Dollar Mastercard

• Annual Fee Rebate: Dine for U. S.$3000 and above in a year and the annual fee for the following year will be refunded.
• No Exchange Rate Surprises: Ensure that you pay in cash and avoid such hitches such as changing of the Dollar to another equivalent amount.
• Worldwide Acceptance: Accept your card at more than thirty million outlets acceptance in the worldwide.

Standout advantage

The most pronounced benefit of having the BMO U. S. Dollar Mastercard is the fact that you cannot have to guess when the rates will change, because they will not. This card is however beneficial for anyone that has to travel to the U. S. often, or buys products from the US-based retailers. 

Addressing potential drawbacks

• Annual Fee: The card attracts an annual fee of U. S. $49 and this may not be suitable for everyone depending with his or her preference.
• Interest Rates: The interest rate on the card is of 20. 99 for purchases and 22 for withdrawal. high interbank fees of 99% for cash advances.
• U. S. Dollar Payments: It shall be noted that all payments are to be made in U. S. dollars which may not be very convenient for some of the cardholders.

Standout disadvantage

The major con associated with the BMO U. S. Dollar Mastercard is its cost in form of the annual fee. The fee could however be discouraging to people who do not transact frequently enough to meet the threshold of the rebate which is a U. S $49. 

Eligibility criteria 

Below is the requirement one has to meet when applying for BMO U. S. Dollar Mastercard: First, one has to be a Canadian and belong to that nation whereby they provide a Canadian address upon registration. You should be of the age of majority in your province or territory this usually sum up to either 18 or 19 years of age. 

A good credit history is also important since BMO will be running a credit check on you to determine your suitability for the loan. Further, you’ll have to corroborate your credit worth, which includes employment details and or financial statement to prove ability to handle credit.

How to apply for the BMO U.S. Dollar Mastercard

Simply and clearly, the BMO is to get clients quick access to hassle-free transactions in U. S. dollars. In cases where you want to get a loan using an online form, or the App available online, or go directly to BMO several branches you it is easy to do so. 

Via website

Begin by accessing the BMO website and moving to the credit card category. You can view more information on the specifically on BMO U. S. Dollar Mastercard here. Next to the vacancy details, there is the “Apply Now” button that is to be clicked in order to start the application. 

That is often when you are asked to provide your name, your address, and maybe your employment details. You are also expected to reveal your income and other details on the financial aspect of your life. The online application involves assessment of credit status and this is why one has to submit his/her Social Insurance Number (SIN).

Through the mobile application

For the mobile users solely, it can even be easier to apply for BMO U. S. Dollar Mastercard through BMO mobile application. First, an individual has to download the BMO mobile app either from the Google Play Store or the Apple App Store. 

After installation, you should go to the BMO online banking and establish a new account if you do not have it or if you should use your old one by login. Go to credit cards and choose the BMO U. S. Dollar Mastercard card. First of all, the app helps you to complete the application profile, where you need to provide your and your family’s data, employment history, and financial situation. 

Through the store/branch

Go to the nearest BMO branch and describe to any employee you will find there your desire to apply for the BMO U. S. Dollar Mastercard. They will be more than willing to explain to you how you can be able to apply for the nursing program. Again, you will need to complete the personal details, employment history, credit card details and any other information that might be required in the online or app-based applications. 

Also, during this process, there is credit check that you have to go through. Applying through in-branch is advantageous because it has a possibility of getting a real fill-and-face conversation that enables the applicant to be attended, provided specific clarifications, and help on parts of the application that he or she did not understand.