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CBS Commercial Break 1 - December 8 2019BMO Preferred Rate Mastercard � $ annual fee � %. for purchases � %. for cash advances. 0% introductory APR on purchases for 15 months from account opening date. After that, a variable APR applies, currently % - %, based on your. The BMO Preferred Rate Mastercard offers members a low-interest rate of % on purchases and cash advances. Cardholders can also take advantage of the %.