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BMO CashBack® Mastercard® credit card full review: should you get it?

Discover all the advantages of BMO CashBack® Mastercard®, the card indicated as one of the best of 2021, according to experts.

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BMO CashBack® Mastercard® credit card: excellent welcome bonus and great rewards for daily purchases

BMO CashBack® Mastercard® credit card
BMO CashBack® Mastercard® credit card review. Source: BMO

Here is the BMO CashBack® Mastercard® Credit Card, a great cashback option for those who live in Canada. In fact, a credit card without the main fees and a very interesting rewards program to earn money every day.

In the table below, check out a summary of the main features of the BMO CashBack® Mastercard® credit card.

BMO logo

BMO CashBack® Mastercard® card: check out how to apply!

5% cashback on everyday purchases and incredible discounts on car rentals and events: learn how to have the BMO CashBack® Mastercard® card in your wallet.

Credit ScoreFrom fair to excellent (over 660)
Annual Fee$0
Regular APR19.99%
Welcome bonus5% cashback for the first three months and 1.99% balance transfer fees for the first 9 months
Rewards3% cash back on grocery purchases, 1% on accounts, 0.5% on other purchases

BMO CashBack® Mastercard® credit card: learn more about this financial product

Pay for goods by credit card through a smartphone in a coffee shop.
Learn more about the card’s pros and cons! Source: Adobe Stock.

One of the best credit cards available to anyone living in the Great White North? In fact, we are not the ones saying this. In 2021, BMO CashBack® Mastercard® received three awards for standing out from the competition for its advantages.

Check it out below:

  • Best No Fee Cashback Card for Shopping (MoneySense™);
  • The Best No Fee Refund Card (RATESBOTCA®);
  • Best credit card for balance transfer (Geniuscreditcar®).

Thus, we are talking about a credit product that is very well regarded among specialists in the field. This card’s cash back program covers all types of purchases. In addition, points from this reward can be redeemed in three ways:

  • Extra credits for your next balance;
  • Current or savings account BMO;
  • Balance on InvestorLine, the investment broker of BMO Wealth Management.

You can claim your rewards whenever you want. However, a $1 fee will be charged for such withdrawal. To earn even more points, you can add another cardholder for free to your card.

Other important advantages are discounts of up to 25% on car rentals at “National Car Rental” and “Alamo Renta Car”. Plus, you still get 15% off “Cirque du Soleil” tickets and 20% off a show in Las Vegas.

Finally, BMO CashBack® Mastercard® is also a card concerned with your security. You will be notified if there are any suspicious transactions with your card.

In addition, you will not be held responsible for transfers or purchases that you do not recognize.

BMO CashBack® Mastercard® credit card features

Now is the moment of truth: learn about the main advantages and disadvantages of having a BMO CashBack® Mastercard® in your wallet:

What are the benefits? 

  • Excellent cashback program, with rewards on virtually every purchase;
  • No annual fee;
  • Welcome bonus;
  • Armored card: extremely efficient security system.

What are the drawbacks?

  • Requires minimum annual income of $15,000;
  • Cash back program with a monthly limit of $500 depending on the category;

What credit score do you need to get the BMO CashBack® Mastercard® credit card?

To claim your BMO CashBack® Mastercard®, you will need at least a fair score. This means your credit score is at or above 660, which is considered a median value.

How does the BMO CashBack® Mastercard® card application process work?

Have you decided to apply for this card? Great! However, there is one condition: to apply, you must not have declared bankruptcy in the last 7 years.

If you meet this requirement, click on the link below and learn all about how to get your BMO CashBack® Mastercard®.

BMO logo

BMO CashBack® Mastercard® card: check out how to apply!

5% cashback on everyday purchases and incredible discounts on car rentals and events: learn how to have the BMO CashBack® Mastercard® card in your wallet.

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