BMO CashBack MasterCard review

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Advertiser Disclosure

Interest Rate: Purchases
19.99
Balance Transfer
22.99 (1.99% for the first 9 months)
Rewards
1% cashback
Signup Bonus
-


9.6/10
Informr score
The BMO CashBack MasterCard currently has an Informr score of 9.6 out of 10. This score is based on our evaluation of 3 sources including reviews from users and the web's most trusted critics.

Am I eligible?


BMO CashBack MasterCard is typically available to those with good credit scores (650 or greater).
To get this card, you must also:
Yes Be at least 18 years of age (AB, MB, ON, PE, QA, SK). 19 in all other provinces.
Yes Be a permanent or temporary resident of Canada
Yes Have a minimum personal income of $15000.

Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.

What the Critics Are Saying...


creditcardGenius

If you're someone who wants to be able to access your cash back rewards when it suits you – and not once a year when the bank decides – the BMO CashBack Mastercard could be the card for you.

- creditcardGenius
GreedyRates.ca

Though it’s a solid offer for those who are new to cash back cards, there are other, more lucrative cards out there for potential cardholders who are willing to pay more for wider benefits and supplemental insurance options, and who have the credit score and minimum income necessary to do so.

- GreedyRates.ca
Wallet Savvy

This card is great for those who aren't particularly interested in travel rewards but would much rather earn cash back to use as they please. We give this card two thumbs up as it offers unlimited cash back reward at constant rate of 1% with minimal fine print.

- Wallet Savvy

Details


Interest Rates
Regular APR Interest Rate 19.99%
Balance Transfer Interest Rate 22.99% (1.99% for the first 9 months)
Cash Advance Interest Rate 22.99%
Rates & Fees
Annual Fee $0.00
Balance Transfer Fee 3%

- Maximum

- 1% introductory fee

Cash Advance Fee $3.50

$5.00 fee charged at a financial institution/ATM outside Canada.

Foreign Transaction Fee 2.5%

Transactions made in a foreign currency will be converted and posted to your account in Canadian currency.


Over Limit Fee $29.00
Late Payment Fee $0.00
Promotions
Sign up bonus

Get up to 4% cash back on every credit card purchase in your first 4 months, up to a maximum of $3,125 in spendings.

Rewards
All Purchases 1% cash back
Restaurants No
Gas No
Groceries No
Hotels No
Travel No
Pharmacy No
Bills No
Features & Benefits
Additional Card Holders Yes
Travel Accident Insurance No
Car Rental Insurance No
Car Rental Discount Yes
Extended Warranty Yes
Purchase Protection Yes
Zero Liability Yes
No Foreign Transaction Fees No
Emergency Assistance No
Concierge Service No
Price Protection No
Fraud Protection Yes
Free Credit Scores No
Wireless Payments Apple Pay
Eligibility
Minimum Security Deposit $0
Minimum Age

18 years in AB, MB, ON, PE, QA, SK. 19 years in all other provinces.

Minimum Personal Income $15,000 per year


Temporary Residents No
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Additional comments
Terms & Conditions Official Terms & Conditions
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Critic Reviews


creditcardGenius

With this card, you get your rewards when you want (or need) it

creditcardGenius

If you're someone who wants to be able to access your cash back rewards when it suits you – and not once a year when the bank decides – the BMO CashBack Mastercard could be the card for you.

Read full review

If you're someone who wants to be able to access your cash back rewards when it suits you – and not once a year when the bank decides – the BMO CashBack Mastercard could be the card for you.

Read full review

Less

GreedyRates.ca

The card’s cash back structure is quite basic

GreedyRates.ca

Though it’s a solid offer for those who are new to cash back cards, there are other, more lucrative cards out there for potential cardholders who are willing to pay more for wider benefits and supplemental insurance options, and who have the credit score and minimum income necessary to do so.

Read full review

Though it’s a solid offer for those who are new to cash back cards, there are other, more lucrative cards out there for potential cardholders who are willing to pay more for wider benefits and supplemental insurance options, and who have the credit score and minimum income necessary to do so.

Read full review

Less

Wallet Savvy

Cashback might not be as lucrative a deal

This card is great for those who aren't particularly interested in travel rewards but would much rather earn cash back to use as they please. We give this card two thumbs up as it offers unlimited cash back reward at constant rate of 1% with minimal fine print.

Read full review

This card is great for those who aren't particularly interested in travel rewards but would much rather earn cash back to use as they please. We give this card two thumbs up as it offers unlimited cash back reward at constant rate of 1% with minimal fine print.

Read full review

Less

User Reviews


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