BMO CashBack Mastercard
- APR
- 21.99% – 23.99%
- Annual Fee
- $0
- Rewards
- Up to 3.0%
The BMO CashBack Mastercard offers no annual fee with 3% cashback on groceries and 1% on recurring bills, making it ideal for everyday spending.
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Our Verdict
This card is a practical choice for those who want to earn cashback without annual fees.
Pros
- No annual fee
- 3% cashback on groceries
- 1% on recurring bills
- Cashback on all purchases
- Widely accepted Mastercard
Cons
- Higher APR of 21.99% to 23.99%
- 0.5% cashback on other purchases
- Limited bonus categories
- No additional benefits like travel rewards
Offering 3% cashback on groceries and 1% on recurring bills, the BMO CashBack Mastercard is designed for those who prioritize everyday spending rewards. Without an annual fee, it appeals to budget-conscious consumers looking for simple rewards. However, the APR ranges from 21.99% to 23.99%, which is quite high, making it less favorable for those who might carry a balance.
In terms of usability, this Mastercard is widely accepted across Canada, ensuring convenience. However, the card only offers 0.5% cashback on all other purchases, which may not be attractive for those with varied spending. Unlike other cards that offer bonus categories or travel rewards, this card sticks to basic cashback, limiting its appeal to frequent travelers.
Our editorial team suggests checking the official BMO site for additional details on terms and conditions. The straightforward cashback structure is beneficial but may not suffice for users seeking more diverse rewards. Overall, this card works best for users who are disciplined about paying their balance in full each month to avoid high-interest charges.
Watch Out
Consider the high APR if you carry a balance, as it may lead to significant interest charges.
Best For
Best for consumers who primarily spend on groceries and want to avoid annual fees.
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