BMO Cashback Mastercard: High Credit Limits & No Annual Fee in Canada

The BMO Cashback Mastercard is an outstanding choice for Canadians looking for a high credit limit with appealing cashback benefits. With a maximum limit of up to $100,000 and a competitive interest rate of 20.99%, this no-annual-fee card makes daily shopping lucrative and flexible.

This Mastercard is accessible to a broad range of applicants, and with online applications, getting started is seamless. The card is well-suited for those who want both big spending power and ongoing rewards for everyday purchases, especially groceries.

How to Apply: Step by Step

1. Visit the BMO website to access the application.
2. Fill in your personal and financial details.
3. Verify your identity with required documentation.
4. Submit your application for review.
5. Receive approval and start using your card once delivered.

Pros of the Card

The BMO Cashback Mastercard stands out for its high credit limit, no annual fee, and excellent cashback rates. Earn three percent back on groceries and enjoy peace of mind with purchase protection and extended warranty insurance.

The balance transfer option with a low introductory rate is another great advantage, making it easier to manage existing debts affordably.

Cons to Consider

Despite its benefits, the standard interest rate of 20.99% can be costly if balances are not paid off monthly. Rewards categories are competitive but capped compared to premium cards.

There’s also a two-percent transfer fee for all balance transfers, so factor this into your decision if you frequently use that feature.

Verdict: Our Independent Review

With its combination of a high credit limit and robust cashback rewards, the BMO Cashback Mastercard is a top choice in Canada for responsible spenders. It meets the needs of users who want big purchasing power with simple, automatic cashback rewards and no annual cost. Apply confidently if you can pay your balance in full each month to maximize the benefits.