BMO CashBack Mastercard: Check everything you need to know

05/03/2025 • Marcos Vinicius • Credit Cards

Are you looking for a credit card that not only puts cash back into your wallet but also boasts a plethora of other benefits? The BMO CashBack Mastercard might just be the perfect choice for you.

This credit card is ideal for those who want to maximize their shopping experiences and keep earning cash rewards on every purchase.

With no annual fee and a simple cash back reward structure, this card allows you to earn as you spend, making everyday shopping a lot more rewarding.

3% cash back on groceries.
1% on recurring bill payments.
0.5% on all other purchases.

Lets dive deep into what makes the BMO CashBack Mastercard a must-have in your wallet.

Benefits of the BMO CashBack Mastercard

The BMO CashBack Mastercard offers an array of benefits designed to enhance your financial management and boost your savings effortlessly.

Generous Cash Back Rewards

Cash back rewards of 3% on grocery purchases help you save on essential expenses. Plus, enjoy 1% on recurring bills and unlimited 0.5% on other purchases, with no expiry on your rewards.

Flexible Redemption

Redeem cash back at your convenience with a minimum of $1. Apply towards statement credits, invest in BMO accounts, or supplement your savings— the choice is yours!

Additional Savings Perks

Save up to 7 cents per litre on Shell fuel and enjoy discounts with car rental services like National Car Rental and Alamo.

Purchase Protection & Warranty

Items bought with your card are protected against damage or theft with a 90-day purchase insurance and a doubled original warranty for up to a year.

Enhanced Security & Access

Benefit from worldwide acceptance and top-notch security features, ensuring peace of mind wherever you shop.

Who Should Consider the BMO CashBack Mastercard?

The BMO CashBack Mastercard is tailored for individuals who prioritize earning rewards from everyday expenses while maintaining good financial habits.

It is also an attractive option for those with a varied credit history seeking approval for a convenient financial tool.

Budget-conscious individuals.
Families who frequently purchase groceries.
Anyone who makes regular bill payments.
Individuals seeking ease in credit card approval despite previous credit setbacks.

With its versatile benefits, this card helps you manage expenses effectively while enjoying the perks of cash back and exclusive savings.

Pros and Cons of the BMO CashBack Mastercard

A closer look at the advantages and disadvantages of the BMO CashBack Mastercard reveals its suitability for many consumer profiles, albeit with some limitations for certain needs.

Pros

No Annual Fee
Forget about yearly charges eating into your cash back rewards.
High Cash Back on Groceries
Earn substantial returns on one of the largest household expenses.
Cash Back Flexibility
Redeem your rewards on your terms and without hassle.
Fuel and Rental Discounts
Save additional dollars on travel and everyday commutes.
Comprehensive Security
Purchase protection, extended warranty, and fraud coverage ensure worry-free shopping.

Cons

Lower Cash Back for General Purchases
Only 0.5% rewards on non-grocery and non-recurring payments.
Limited Travel Insurance Benefits
Smaller range of travel insurance features compared to premium cards.

Why We Recommend the BMO CashBack Mastercard

The BMO CashBack Mastercard stands out with its rewarding cash back structure, no annual fees, and flexibility in reward redemption, making it suitable for diverse spending habits.

Additionally, its accessibility to individuals with a less-than-perfect credit score means more people can benefit from its compelling features.

High cash back rates on grocery purchases.
No expiry on earned cash back.
No annual fees, maximizing your cash back potential.
Inclusive for those managing credit rebuilding.
Solid return on investments and savings through strategic reward application.

How to Apply for the BMO CashBack Mastercard

Ready to start earning cash back with every purchase? Applying for the BMO CashBack Mastercard is quick and simple.

Access to the card website

Visit the BMO official website to apply online.
Call BMO Customer Support at 1-800-263-2263 for assistance.
For the hearing-impaired, contact via third-party relay services.

Frequently Asked Questions

What is the cash back rate on various purchases?

You earn 3% back on groceries, 1% on recurring bills, and 0.5% on all other purchases.

Is there an annual fee?

No, the BMO CashBack Mastercard has no annual fee.

How do I redeem cash back rewards?

Rewards can be redeemed as a statement credit or deposited into BMO accounts and investment lines.

Are there any limits on cash back?

There are no caps or restrictions on how much cash back you can earn.

How to contact customer service?

You can reach customer service 24/7 at 1-800-263-2263, with special support for hearing-impaired clients.

Final Considerations

For those seeking a reliable credit card that combines practical rewards with substantial security features, the BMO CashBack Mastercard is an excellent choice.

Its benefits cater to a wide range of everyday needs and offer peace of mind, with no annual fees to contend with.

At Uyotem, we see the BMO CashBack Mastercard as a top contender for budget-savvy consumers, especially those navigating financial hurdles.