Bank of Montreal Harris proposes a balance transfer option on its BMO Preferred Rate Mastercard.
Thus, a customer can receive a 3.99% introductory rate on balance transfers for nine months with a 1% transfer commission.
A customer should remember that a BMO balance transfer could reduce his credit rating by raising the single-card utilization and lowering the length of credit history. However, a BMO balance transfer can also increase a client's credit score if it helps him pay off liabilities faster.