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BMO CashBack® Mastercard®*

BMO CashBack® Mastercard®*

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Network Provider
Mastercard
Provider
BMO Bank of Montreal
Types
Rewards
Balance Transfer
No Fee
Annual fee
$0
Purchase interest rate
19.99%
Cash advance rate
22.99% 21.99% for Quebec residents
Balance transfer rate
1.99% 22.99% after 9 months
Credit Needed
Good (650-749)

Card description

Welcome offer: Get 5% cash back in your first 3 months*

  • Then get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases!*
  • Now earn the highest cash back on groceries in Canada without paying an annual fee!†
  • Get a 1.99% introductory interest rate on Balance Transfers for 9 months, 1% fee applies to balance amounts transferred* 
  • No Annual fee*
  • Want to get your cash back ASAP? Now you can redeem your cash back anytime through direct deposit, as a credit on your statement or into your BMO InvestorLine account*
  • Extended Warranty* 
  • Purchase Protection* 
  • Receive a discount on car rentals*
  • Minimum 15K individual income*

BMO is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information.

*Terms and conditions apply
†Based on a comparison of the non-promotional grocery rewards earn rate on cash back credit cards with no annual fee as of Aug 20, 2020. 

Card Features

  • Extended Warranty
  • Purchase Protection
  • Rental Car Discounts

About This Card

The BMO CashBack® Mastercard®* is a no-fee, cash-back rewards credit card available to people with an above-average credit score.

This card has a competitive offer for new cardholders: 5% on groceries, which is the highest earn rate on groceries than any other card at the moment, 4% on transportation, 3% on gas or EV charging, 2% recurring bill payments, and unlimited 1% cashback on anything else.  

However, the offer ends once you spend $300 in each of these categories. Then you go back to the regular earn rate of 1%.

There's also a balance transfer offer when you apply. You can transfer a balance from another credit and pay only 1.99% interest on it for nine months. There is a 1% fee tacked onto the balance amount transferred. After the nine-month period, the interest on the balance goes up to 22.99%.

The BMO CashBack® Mastercard®* also offers users various add-on features, like identity theft assistance, BMO travel insurance options, CreditDefence, BMO Roadside Assistance and BMO Credit Card Balance Protection — though these perks do cost additional fees.

In addition to its $0 annual fee, the BMO CashBack® Mastercard®* offers users competitive rates. It has a purchase interest rate of 19.99% and a cash advance rate of 22.99%.

 

Why get the BMO CashBack® Mastercard®*?

Get extended warranties -  All CashBack users automatically get extended warranty benefits, which means you’ll get a one-year extension on the warranty for every item you buy with the card. The only exception is when the original warranty exceeds five years.

Protection for purchases -  CashBack has your back when it comes to theft. You'll be protected in instances of unauthorized use, and are saddled with zero liability. Each card is also embedded with a PIN-protected microchip to ensure optimum protection, and an added layer of security for online shopping, thanks to Mastercard SecureCode.

Discounts on rental cars - Users can get up to 25% off of rentals at both Alamo Rent a Car and National Car Rental. The discount will vary by rental date, location, and vehicle type.

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