Cash Back
No Annual Fee
Balance Transfer
BMO CashBack Mastercard
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)
Secure RateBuddy connection · Application completed on BMO Bank of Montreal’s site
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 APR | 21.99% |
|---|---|
| Cash Advance APR | 23.99% |
| Annual Fee | $0 |
| Income Required | No specific requirement listed. |
| Recommended Credit Score | — |
Cardholder Reviews
A detailed view of approved RateBuddy community feedback for this card.
Be the first to share a cardholder perspective.
Approved reviews build this card’s score and detailed ratings breakdown.
No approved reviews yet
No public user reviews yet. Share your experience to help others compare this card.
Reviews are moderated before publication. RateBuddy does not publish reviewer email addresses or sensitive financial information.
Filed Under
Cash Back
No Annual Fee
Balance Transfer
Secure RateBuddy connection