BMO Cashback Mastercard
For Canadians who want a simple way to earn rewards on daily purchases, the BMO Cashback Mastercard is designed to offer accelerated cash back on eligible grocery and recurring bill transactions.
This no-annual-fee credit card is issued by BMO and focuses on everyday use, combining practical rewards with digital tools to help cardholders manage their spending clearly.
With a straightforward cash back structure, this card allows users to earn rewards as they use the card for eligible purchases, provided they meet the bank’s strict credit approval requirements.
Pros and cons of the BMO Cashback Mastercard
The BMO Cashback Mastercard is built for Canadians who want to earn cash back while using a widely accepted credit card for common household expenses.
At the same time, it’s important to understand both its features and its limitations.
Pros
- Earn 3% cash back on eligible grocery purchases (up to $500 per month) and 1% on recurring bill payments (up to $500 per month);
- Includes Extended Warranty and Purchase Protection on eligible items;
- Cash back can be redeemed as a statement credit or deposited directly into a BMO chequing account, savings account, or InvestorLine account;
- No annual fee ($0) for the primary cardholder.
Cons
- A strict credit check is required, and a standard 21.99% purchase interest rate applies if you carry a balance from month to month;
- This card does not include travel insurance coverage or premium travel perks;
- Cash back on purchases outside of the grocery and recurring bill limits drops to a base rate of 0.5%.
App features
Cardholders can manage their account using the BMO Canada App, which includes tools designed to support day-to-day account control:
- Account Management: check balances, review transaction history, and monitor recent activity;
- Bill Payments: schedule and pay bills directly through the app;
- Transfer funds: move money between eligible BMO chequing or savings accounts securely;
- Alerts: set notifications for transactions, approaching credit limits, and payment reminders;
- Customer Support: contact support and access help options through the app.
About the Issuing Bank
BMO Bank was founded in 1817 and is one of the largest banks operating in North America.
It provides services such as personal banking, lending, investments, and wealth management, serving customers across Canada and the United States.
BMO operates a large network of branches and ATMs and continues to invest in digital banking tools to support everyday financial needs.
The bank is also recognized for its workplace practices and initiatives related to diversity and inclusion.
Fees of the BMO Cashback Mastercard
The BMO Cashback Mastercard includes several fees and conditions that cardholders should review carefully:
- The annual fee for this card is strictly $0;
- The annual interest rate for purchases, fees, and other charges is 21.99%;
- The annual interest rate for cash advances and balance transfers is 23.99%, and 21.99% for Quebec residents;
- If the minimum payment is missed twice in a 12-month period, the default interest rate for purchases increases to 25.99%, and cash advances increase to 27.99%;
- For cardholders outside Quebec, the minimum payment includes $10 plus any interest, fees, and monthly installment plan payments, along with any past-due or over-limit amounts;
- If the balance due is $10 or less, the full amount must be paid;
- For Quebec residents, the minimum payment is calculated based on provincial rules, including installment payments, 5% of the balance due, or $10, whichever is higher;
- Foreign currency transactions are converted at the network rate plus a 2.50% markup fee;
- An over-limit fee of $29 applies if your balance exceeds your approved credit limit.
*Rates and fees were updated based on the issuer’s official website as of March 9, 2026.*
Why apply for this card?
The BMO Cashback Mastercard offers a clear way to earn cash back on eligible everyday purchases, without charging an annual fee.
It can be used for regular expenses such as groceries, bills, and general shopping, earning up to 3% cash back in specific categories, while providing access to digital tools for account management.
Before applying, it is important to review the 21.99% purchase interest rate, fees, and terms to understand how costs may apply if balances are carried past the 21-day grace period.
Interested in the BMO Cashback Mastercard and ready to apply securely? You can continue by using the button below.
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Legal Disclaimer: This website is independent and purely informational. We do not guarantee credit approval or card issuance, which are subject solely to the risk analysis of BMO Bank of Montreal. Finvyu Editorial Team.