BMO CashBack Mastercard
Get up to 5% cash back in your first 3 months
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📋Card Overview
🎁Welcome Bonus & Eligibility
Welcome Offer
Get up to $650 in value and the annual fees waived in the first year. Plus, get a 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.
✨Key Card Features
- 3% cash back On grocery purchases
- so you can earn more on your favourite foods and the essentials. 1% cash back On recurring bill payments such as streaming services
- subscriptions or monthly utilities. 0.5% cash back On all other purchases
- so you earn every time you spend.
🏆Rewards Program
Cash Back
Earn rewards on every purchase with the Cash Back program. Redeem for travel, merchandise, gift cards, or statement credits.
👤Who Can Apply?
Residency
Canadian residents
Eligibility
Be a Canadian citizen or permanent resident. Have not declared bankruptcy in the past seven years. Have reached the age of majority in the province in which you live (18 years in AB, MB, ON, PE, QC and SK. 19 years in all other provinces). Meet minimum income requirements
🤔Is This Card Right For You?
✅ This card is great for:
- •People who want Cash Back rewards
- •Those who want rewards without paying an annual fee
- •Anyone looking for a generous welcome bonus
❌ Look elsewhere if:
- •You don't spend enough to justify the rewards structure
- •You prefer a different rewards program
⚖️Pros & Cons
Pros
- +No annual fee
- +Generous welcome bonus: Get up to 5% cash back in your first 3 months
- +Cash Back rewards program
Cons
- −High interest rate (21.99%)
🏆Our Verdict
The BMO CashBack Mastercard is an excellent choice for those seeking a no-annual-fee card with solid rewards. The welcome bonus adds immediate value. Ideal for everyday spending without the commitment of an annual fee.
Apply on Issuer Site❓Frequently Asked Questions
What is the annual fee for the BMO CashBack Mastercard?
The BMO CashBack Mastercard has an annual fee of $0. No Annual Fee.
What are the interest rates for the BMO CashBack Mastercard?
The purchase interest rate is 21.99% and the cash advance rate is 23.99%.
Who can apply for the BMO CashBack Mastercard?
Be a Canadian citizen or permanent resident. Have not declared bankruptcy in the past seven years. Have reached the age of majority in the province in which you live (18 years in AB, MB, ON, PE, QC and SK. 19 years in all other provinces). Meet minimum income requirements
What welcome bonus does the BMO CashBack Mastercard offer?
Get up to $650 in value and the annual fees waived in the first year. Plus, get a 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.
Is the BMO CashBack Mastercard worth it?
The BMO CashBack Mastercard is a great no-annual-fee option. The welcome bonus of Get up to 5% cash back in your first 3 months adds significant value. The Cash Back program offers flexibility for redemptions.
