BMO
Enjoy up to $100,000 credit limits, competitive 20.99% interest rate, and strong cashback perks with no annual fee on the BMO Cashback Mastercard.
The BMO Cashback Mastercard is designed for Canadians seeking a generous credit limit coupled with valuable everyday rewards. You can get approved for limits up to $100,000, making it one of the highest-limit cards in the country. The card charges a 20.99% interest rate on purchases and proudly offers no annual fee, so you keep more of your earnings. This card also comes with an attractive cashback structure and useful insurance perks, making it a solid option for savvy spenders.
How to Apply for the BMO Cashback Mastercard
Applying for the BMO Cashback Mastercard is straightforward. First, ensure you meet the minimum income and credit score requirements. Next, visit BMO’s website to start your application. Fill out your personal, employment, and financial details accurately. Submit your application online and wait for approval, which may arrive quickly if you qualify.
Top Benefits
One major advantage of this card is the high credit limit, providing flexibility for larger purchases while helping you maintain a healthy credit utilization ratio. Additionally, the no-fee structure means you won’t pay annually to keep the card active, maximizing your cashback potential.
Cardholders also earn cashback on a range of everyday purchases—groceries, bills, and more—helping you save on regular expenses. The card offers useful insurance coverage for purchases and extended warranties, boosting your peace of mind with every transaction.
Potential Downsides
While the interest rate is standard for Canadian credit cards, carrying a balance month-to-month can be costly if you’re not able to pay in full. Also, some high-value rewards and perks, available on premium cards with annual fees, are not present on this no-fee option.
The maximum credit limit is not guaranteed for all applicants, as your offer depends on factors like your income, credit score, and existing debts. Therefore, some may receive a much lower limit.
The Verdict
For Canadians wanting a high-limit credit card with no annual fee and strong cashback returns, the BMO Cashback Mastercard stands out. The application is easy, rewards are practical, and the limits are among the most generous available. If your financial history is in good standing, this card can bring great benefits to your wallet.
