BMO CashBack Mastercard
Cash Back No Annual Fee Balance Transfer

BMO CashBack Mastercard

BMO Bank of Montreal BMO Bank of Montreal
Welcome Bonus: Up to 5% cash back in your first 3 months
Balance Transfer: 0.99% Balance Transfer for 9 months (2% transfer fee)
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Annual Fee $0
Purchase APR 21.99%
Cash Advance 23.99%
Bonus Value $100

RateBuddy Verdict

The Good
  • Offers a highly competitive 3% cash back rate on groceries without charging an annual fee.
  • Extremely flexible redemption rules allow you to cash out your rewards for as little as $1 at any time.
  • No supplementary card fee, meaning you can add authorized users for free to pool your cash back earnings.
The Trade-offs
  • The 3% grocery rate is strictly capped at $500 in spending per statement period, dropping to 0.5% afterward.
  • The base earn rate on non-category spending is very low at just 0.5%.
  • Does not include any standard travel or mobile device insurance coverage.

Rewards & Earnings

Groceries 3%
Recurring Bills 1%
Base Rate 0.50%
Rewards Summary: Groceries: 3% cash back (up to $500/month); Recurring Bills: 1% cash back; Base Earn: 0.5% cash back; Redemption: Any time starting at $1 or auto-deposit at $25; Instacart: 3 months free + $5/month credit

Welcome Bonus Details

Up to 5% cash back in your first 3 months

Estimated Value: $100

Features & Benefits

No Annual Fee
No annual fee
Extended Warranty Insurance
Doubles manufacturer warranty up to 1 year
Purchase Security Insurance
90 days from date of purchase

Insurance Coverage

Purchase Security: 90 days; Extended Warranty: +1 Year; Travel/Medical: Not Included

Rates, Fees & Eligibility

Purchase APR21.99%
Cash Advance APR23.99%
Annual Fee$0
Income Required No specific requirement listed.
Recommended Credit Score—

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Filed Under

Cash Back No Annual Fee Balance Transfer
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