BMO CashBack Mastercard
Get up to 5% cash back in your first 3 months with no annual fee, plus enjoy low balance transfer rates and flexible redemption options on your spending.
The BMO CashBack Mastercard stands out as a practical choice for anyone seeking to earn rewards from daily purchases without the worry of annual fees. With a welcome offer of up to 5% cash back in your first 3 months, cardholders maximize returns early on. The card features a 21.99% purchase interest rate and 23.99% for cash advances (21.99% for Quebec residents), and a $0 annual fee. A credit check is required, but income requirements are modest compared to some premium cards. Flexible redemption options make managing rewards simple and convenient.
Steps to Apply for BMO CashBack Mastercard
- Visit the BMO credit cards website
- Select the CashBack Mastercard to begin the application
- Fill out personal information including income and employment details
- Consent to a credit check and submit the form
- Wait for instant approval or additional follow-up
Main Advantages
The biggest highlight is the excellent welcome offer of up to 5% cash back for three months, letting users earn significant value on early spending. No annual fee means cost savings over time.
Cardholders benefit from the ability to redeem cash back for as little as $1 or set up recurring redemptions, providing flexibility in how and when you use your rewards.
Downsides to Consider
The standard cash back rate after the introductory period is lower than some premium cards, so ongoing rewards may taper off for larger spenders.
Foreign transaction fees and high interest rates on balances carried month to month could outweigh rewards if the balance isn’t paid in full.
Verdict: Is the BMO CashBack Mastercard Worth It?
If you value simplicity, no annual fee, and a generous welcome cash back, the BMO CashBack Mastercard is an excellent starter or everyday card. For big spenders, consider premium options, but this card delivers great perks for practical, budget-minded users.
