BMO CashBack Mastercard for Students
- APR
- 21.99% – 23.99%
- Annual Fee
- $0
- Rewards
- Up to 3.0%
This no-annual-fee student credit card offers up to 3% cashback on groceries and a 5% introductory bonus in the first three months.
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Our Verdict
Ideal for students looking to earn rewards without annual fees, but high interest rates may deter those carrying a balance.
Pros
- No annual fee
- Up to 3% cashback on groceries
- 5% introductory bonus for first 3 months
- Easy approval for students
Cons
- High APR of 21.99%
- Limited cashback categories
- May not benefit heavy spenders
With no annual fee, the BMO CashBack Mastercard for Students is a practical choice for young consumers. Cashback rewards reach up to 3% on groceries, plus a 5% bonus during the first three months. This makes it attractive for students who frequently shop for essentials.
That said, the high APR of 21.99% can be a significant drawback for anyone who may carry a balance, making this card less appealing for those looking to minimize interest costs. Compared to alternatives like the Scotiabank Scene Visa, which offers rewards on entertainment, the BMO card is more limited in cashback categories.
Customer feedback highlights its straightforward application process, but some users have noted that customer service can be slow to respond. Overall, the card is best suited for students who pay off their balance each month to avoid high interest while earning cashback on regular purchases. For more details, visit BMO's official page at BMO.
Who It's For
This card is particularly suited for students who want to earn cashback without an annual fee and are diligent about paying off their balances.
Watch Out
Be cautious of the high APR if you plan to carry a balance, as interest charges can add up quickly.
Summary
The BMO CashBack Mastercard for Students offers rewarding cashback features without an annual fee, but students should be wary of the high interest rates.
Best For
Best for students who want to earn cashback on everyday purchases without incurring annual fees.
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What Customers Say
Cardholders appreciate the cashback rewards but are concerned about the high interest rates.
