How to apply for the BMO US Dollar Mastercard

Applying for the BMO US Dollar Mastercard is fairly simple for Canadian residents, but it’s important to prepare in advance because this card works differently from regular Canadian-dollar credit cards. Below is a clear, step-by-step guide, plus recommendations, cancellation info, and a short FAQ at the end.

Step-by-step application process

Step 1: Check the basic requirements
Before applying, make sure you meet the usual conditions for Canadian credit cards:

• Be a resident of Canada
• Be of legal age in your province
• Have an active credit history
• Have stable income

BMO does not publish an official minimum credit score, but a fair to good credit profile is generally expected.

Step 2: Consider opening a US-dollar bank account (USD)
This card must be paid in US dollars.

• BMO offers USD accounts that can be linked directly to the card.
• You may also use a USD account from another Canadian bank, as long as it supports credit-card payments.
• Check monthly fees and minimum balance requirements, since these affect the real cost of using the card.

It is not always mandatory to open the account before applying, but it is strongly recommended.

Step 3: Prepare your personal and financial information
You will usually need:

• Full name and Canadian address
• Social Insurance Number (often requested)
• Employment details and approximate income
• Phone number and email address

Step 4: Submit your application

You can apply:

• Online through BMO’s official website
• In a BMO branch with an advisor
• By phone via customer service

Online is typically the fastest option and may provide instant preliminary approval.

Step 5: Wait for approval and receive the card

• Delivery usually takes 7 to 14 business days.
• In some cases, BMO may request additional documents.

Step 6: Activate and set up the card

After receiving it:

• Activate it online or by phone
• Link it to your USD bank account
• Set up automatic payments in USD to avoid missed payments and interest

Who this card is best for

This card is most suitable for:

• People who travel to the United States frequently
• Canadians who shop often at US online stores or pay for USD-based services
• Users who can spend at least USD 3,000 per year to get the annual fee refunded
• People who pay their balance in full every month

How to cancel the BMO US Dollar Mastercard

If you decide the card no longer fits your needs:

1. Pay the full outstanding balance in USD
2. Call BMO customer service or visit a branch
3. Request full cancellation of the card
4. Confirm that no pending charges or subscriptions remain
5. Ask for confirmation that the account is closed

Try to cancel before a new annual fee is charged.

Practical tips before applying

• Estimate your yearly USD spending to see if you will reach the USD 3,000 rebate threshold
• Include the cost of maintaining a USD bank account in your comparison
• Avoid carrying balances, since interest rates are high
• Use this card mainly for USD purchases, not as your everyday card

FAQ

Can I pay this card from a Canadian-dollar (CAD) account?
No. Payments must be made from a US-dollar account.

Does the card offer points or cashback?
No, it does not include a rewards program.

Is this a good first credit card?
Not really. It requires managing a USD account and offers no rewards.

What happens if I don’t spend USD 3,000 in a year?
You will be charged the full USD 49 annual fee.

If you want, I can also compare this card with other no-FX-fee or rewards cards available in Canada to help you choose the best option.

conclusion

The BMO US Dollar Mastercard is a practical option for Canadians who spend regularly in US dollars and want to avoid foreign transaction fees. While it lacks rewards and requires a USD bank account, it can be cost-effective for frequent US shoppers or travelers who pay their balance in full and reach the annual spending threshold to waive the fee.

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