BMO CashBack® Mastercard® credit card full review
BMO CashBack® Mastercard® credit card offers more than just a generous cash back reward. Keep reading to know all about it!
by Aline Augusto
No annual fee with BMO CashBack® Mastercard® credit card
If you think the BMO CashBack® Mastercard® credit card offers you only a good and flexible reward program, you are mistaken. Its rates and fees are just as good as other features. So, if you are searching for cash back on your favorite grocery stores in Canada without paying any annual fees, take a minute to read our BMO CashBack® Mastercard® card review!
|Credit Score||Fair – Good – Excellent|
|Regular APR||From 19.99% to 22.99%|
|Welcome bonus||Up to 5% cash back in the first 3 months|
|Rewards||From 0.5% to 3% cash back|
All you need to know about the BMO CashBack® credit card
This cash back rewarding card has earned some prizes in 2021 due to its fees and reward program.
If you are searching for good offerings from a credit card without expensive fees and rates, you should take a look at this BMO CashBack® Mastercard®.
You can earn cash back on your everyday purchases in grocery stores, streaming services, and more. See below:
- 3% cash back on grocery stores up to $500 spent per statement cycle period;
- 1% cash back on recurring payments, like streaming services (terms apply);
- 0.5% on all other purchases.
Also, the cash back redemption is flexible, with no expiration date and no minimum amount.
Plus, this Mastercard® offers an Intro APR of 1.99% on balances for nine months. As an intro bonus, you can earn up to 5% cash back in the first three months.
Finally, all of that with a $0 annual fee.
But, to apply for this credit card, it is recommended that you have a good credit score with a $15,000 minimum income.
Moreover, it lacks some perks like travel insurance.
BMO CashBack® Mastercard® card benefits and drawbacks
Although this card offers a welcome bonus, cash back on all purchases, with no annual fee, the base reward is quite low: 0.5% cash back.
Also, there aren’t many insurance options like other cards.
Plus, it requires minimum income and a good credit score for the application.
On the other hand, this Mastercard® features flexibility and convenience on the reward program. And, it provides you with an extended warranty.
- No annual fee
- Welcome bonus and intro offer
- Cash back reward program
- Extended Warranty
- It requires a good credit score and a minimum income
- It doesn’t offer travel insurance
- Low rate on the base reward
Credit score recommended for the application
It is recommended that you have a good credit score for the application, as well as present a minimum income of $15,000.
Learn how to apply for a BMO CashBack® Mastercard®
If you fulfill the requirements for the application, you can learn how to apply for a BMO CashBack® Mastercard® credit card. Then, check out our next post!
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