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BMO® CashBack® Mastercard® review

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Advertiser Disclosure

Annual Fee
$0.00
Interest Rate: Purchases
20.99%
Interest Rate: Purchases
20.99%
Balance Transfer
22.99% (0.99% for the first 9 months)
Balance Transfer
22.99% (0.99% for the first 9 months)
Rewards
0.5 - 3% cashback
Rewards
0.5 - 3% cashback
Signup Bonus
-
Signup Bonus
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8.4/10
Informr score
The BMO® CashBack® Mastercard® currently has an Informr score of 8.4 out of 10. This score is based on our evaluation of 15 sources including reviews from users and the web's most trusted critics.

Am I eligible?


BMO® CashBack® Mastercard® is typically available to those with good credit scores (650 or greater).
To get this card, you must also:
Yes Be at least 18 years of age (AB, MB, ON, PE, QA, SK). 19 in all other provinces.
Yes Be a permanent or temporary resident of Canada
Yes Have a minimum personal income of $15000.

Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.

What the Critics Are Saying...


Money.ca
Money.ca

This BMO Cash Back MasterCard is ideal for consumers looking for a cash back card with no annual fee who spend a lot on groceries and recurring payments. Frequent travellers will also appreciate the discount on rental cars. Certainly, there are premium cards with more bells and whistles, but then yo...

- Sandra MacGregor, Money.ca
GreedyRates.ca
GreedyRates.ca

This BMO Cash Back MasterCard is ideal for consumers looking for a cash back card with no annual fee who spend a lot on groceries and recurring payments. Frequent travellers will also appreciate the discount on rental cars. Certainly, there are premium cards with more bells and whistles, but then yo...

- Sandra MacGregor, GreedyRates.ca
Yore Oyster
Yore Oyster

With a generous welcome bonus of up to 5% cash back earning rate in the first three months and a 0.99% introductory interest rate on balance transfers for nine months, the BMO CashBack Mastercard offers one of the best balance transfer perks available in Canada. The card is ‘also great for cards for...

- Victor, Yore Oyster
SAVVY New Canadians
SAVVY New Canadians

The BMO CashBack Mastercard does fairly well for a no-fee cash back card. If you are looking for more comprehensive insurance coverage, you will have to consider other cards. Also, it does not offer the best cash back rate among no-fee cards, especially if you meet the higher maximum income threshol...

- Enoch Omololu, SAVVY New Canadians
Finder
Finder

The BMO CashBack Mastercard is a basic fee-card that allows you to put the cash you earn towards your investment portfolio or your outstanding bank or credit card balance. It comes with a welcome bonus offer and a low introductory balance rate as well as benefits such as purchase protection and zero...

- Claire Horwood, Finder

Details


Interest Rates
Regular APR Interest Rate 20.99%
Balance Transfer Interest Rate 22.99% (0.99% for the first 9 months)

21.99% for Quebec residents

Cash Advance Interest Rate 22.99%

21.99% for Quebec residents

Rates & Fees
Annual Fee $0.00
Balance Transfer Fee 5%
  • Maximum
  • 2% introductory fee
Cash Advance Fee 1%

Minimum of $5

Foreign Transaction Fee 2.5%

Transactions made in a foreign currency will be converted and posted to your account in Canadian currency.


Over Limit Fee $29.00
Late Payment Fee $0.00
Promotions
Sign up bonus

Get up to 5% cash back on every credit card purchase in your first 3 months, up to a maximum of $2,500 ($125 cash back) in spendings.

Rewards
All Purchases 0.5% cash back
Restaurants No
Gas No
Groceries 3% cash back

Up to a maximum of $500 spent per statement cycle period

Hotels No
Travel No
Pharmacy No
Bills 1% cash back

- On recurring bill payments

- Up to a maximum of $500 spent per statement cycle period

Additional Details


Features & Benefits
Additional Card Holders Yes
Travel Accident Insurance No
Car Rental Insurance No
Car Rental Discount Yes
Extended Warranty Yes
Purchase Protection Yes
Zero Liability Yes
No Foreign Transaction Fees No
Emergency Assistance No
Concierge Service No
Price Protection No
Fraud Protection Yes
Free Credit Scores No
Wireless Payments Apple Pay
Virtual Cards No
Additional Benefits


Eligibility
Minimum Security Deposit $0
Minimum Age

18 years in AB, MB, ON, PE, QA, SK. 19 years in all other provinces.

Minimum Personal Income $15,000 per year


Temporary Residents No
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