BMO CashBack® Mastercard®

BMO CashBack® Mastercard®: interest rates, available limits, cashback and bonuses. Full conditions for obtaining a credit card online. The procedure for registration and receipt online or at a bank branch. Features.


About BMO CashBack® Mastercard®

A BMO CashBack® Mastercard® is a no-fee credit card with regular interest rates and cash-back earning opportunities. Along with cash-back, BMO CashBack® Mastercard® cardholders can get discounts at BMO’s partners.

With special offers for new applicants in place, a BMO CashBack® Mastercard® can bring you cash back for your everyday purchases in the first months at an accelerated rate.

BMO CashBack® Mastercard® features

A BMO CashBack® Mastercard® credit card provides a 20.99% interest rate on purchases and a 22.99% interest rate on cash advances (21.99% for Quebec residents).

There is no annual fee for this credit card, and issuance of an additional card is free.

For grocery purchases made with your BMO CashBack® Mastercard®, you will earn 3% cash back on the first $500 spent per statement period and 0.5% unlimited cash back after that. 

For recurring bill payments made with your BMO CashBack® Mastercard®, you can earn 1% cash back on the first $500 spent per statement cycle period and 0.5% unlimited cash back after that.

Other purchases will bring you 0.5% unlimited cash back.

With special offers for new applicants, BMO CashBack® Mastercard® cardholders can earn cash back at an accelerated rate in the first several months.

Once you’ve earned sufficient cash back dollar amount, you can redeem it at any time for just $1 towards any of the following:

  • A credit to your monthly account statement 

  • A deposit to your chequing or savings account 

  • A contribution to your InvestorLine account

You can also set up automatic deposits provided your cash back balance is at least $25.

Along with cash-back earning opportunities, a BMO CashBack® Mastercard® credit card provides benefits at BMO’s partner merchants, including:

  • Up to 25% discounts for car rentals at National Car Rental and Alamo Rent a Car

  • Discounts for admission to Cirque du Soleil shows in Canada and Las Vegas

Insurance coverages included in a BMO CashBack® Mastercard® credit card are up to 90-day purchase protection and extended warranty coverage, extending the original manufacturer’s warranty by up to 1 year.

Pros and cons

Here are the definite advantages of a BMO CashBack® Mastercard® credit card: 

  • A zero annual fee

  • Free issuance of additional cards

  • Cash back earning opportunities

  • Benefits and discounts from BMO’s partners

  • No yearly minimum income requirements to apply

  • Contactless payment through digital wallets

  • Zero Liability Protection

Here are the disadvantages to be aware of:

  • Few insurance coverages included

  • The lack of exclusive benefits from Mastercard

How to apply for a BMO CashBack® Mastercard®

You can apply for a BMO CashBack® Mastercard® credit card online. Click the “Apply now” button on the credit card description page and proceed with an application form. In the very beginning, you will need to specify whether you already have a BMO credit card and if you have a Canadian address. Next, fill out the form with the following details:

  • Your first name

  • Your middle name (optional)

  • Your last name

  • Your date of birth

  • Your phone number

  • Your address

  • Your housing status

  • Your monthly payment

  • Month and year since you live there

  • Your social insurance number (optional)

  • Your employment status

  • Your occupation category

  • Your position

  • The company name

  • Month and year since you work there

  • Work phone number

  • Your sources of income

  • Whether you want to add another cardholder

  • Whether you want to add Optional BMO Credit Card Balance Protection Enhanced

Once you’ve provided all the applicant information required, review the summary of your application, agree to the terms and conditions, and click “Confirm & apply” to complete your application.

What types of recurring bill payments qualify for earning 1% cash back?

Examples of recurring bill payments that can bring you 1% cash back are a monthly Internet bill payment, cell phone bill payment, and gym membership fee payment.

How do I keep track of my cash back account balance? You can see how much cash back you have earned in your BMO Cash Back account, BMO Online Banking account, BMO Mobile Banking app, or on your monthly BMO credit card statement.
Can I add more insurance coverages to my BMO CashBack® Mastercard® credit card? You can enrich insurance coverage included in your BMO CashBack® Mastercard® credit card with Optional BMO Credit Card Balance Protection Enhanced. This insurance policy provides coverage of your credit card balance in case of unexpected life situations like death, total disability, or job loss.

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20.11.2022
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Last update 01.12.2022