Cash Back
No Annual Fee
Student
Student BMO CashBack Mastercard
BMO Bank of Montreal
Current Welcome Offer
Get 5% cash back in your first 3 months!
Annual Fee
$0
Purchase APR
21.99%
Cash Adv. APR
23.99%
Welcome Bonus
~$100
RateBuddy Verdict
The Good
- Charges no annual fee, making it the perfect low-risk tool for students to begin building their credit history.
- Offers a highly competitive 3% cash back rate on groceries, which is excellent for stretching a student budget.
- Cash back can be redeemed at any time, giving students flexible access to their rewards.
The Trade-offs
- The base earn rate for non-category spending (like textbooks or transit) is very low at just 0.5%.
- Does not include any mobile device insurance, which is a highly sought-after perk for students.
Rewards & Earnings
Groceries 3.00%
Base Rate 0.50%
Rewards Summary: Groceries: 3% cash back; Recurring Bills: 1% cash back; Base Earn: 0.5% cash back; Redemption: Any time to a BMO account or statement credit; Instacart: 3 months free + $5/month credit
- Groceries: 3.0%
- Recurring Bill Payments: 1.0%
- All Other Purchases: 0.5%
Welcome Bonus Details
Get 5% cash back in your first 3 months!
Estimated Value: $100.00
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
Additional Perks
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Insurance Coverage
Purchase Security: 90 days; Extended Warranty: +1 Year; Travel/Medical: Not Included
Rates & Fees Details
| Purchase APR | 21.99% |
|---|---|
| Cash Advance APR | 23.99% |
| Annual Fee | $0 |
| Income Required | No specific requirement listed. |