Comparison

BMO CashBack® Mastercard® vs. Conexus Cash Back Mastercard® card: Which is the best?

Do you need a cashback card with no annual fees? Then find out which one is best: BMO CashBack® Mastercard® or Conexus Cash Back Mastercard®!

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by Victória Lourenço

Published on 12/19/2021

BMO CashBack® Mastercard® and Conexus Cash Back Mastercard®: card comparison

Check out our comparison! Source: Freepik (onlyyouqj).
Check out our comparison! Source: Freepik (onlyyouqj).

There are many cashback credit cards with no annual fees out there, and it can be hard to find the best one. Also, many cards that don’t have an annual fee offer very few perks in return. However, it is possible to find one that best fits your spending needs. In this post, we will help you decide which one is best: BMO CashBack® Mastercard® or Conexus Cash Back Mastercard®.

Moreover, the BMO card can be for you if you need a cashback card with a good rewards rate and extra perks, such as a good welcome bonus. Also, you do not need a very high credit score to try to qualify for it. On the other hand, the Conexus card can have a lower interest rate, and it also has no annual fee. Moreover, you can even get travel rewards with the points you earn when you spend with this card.

So, if you want to know more about the features of these two great credit cards, keep reading our comparison!

Cartão Conexus Cash Back Mastercard

How to apply for Conexus Cash Back Mastercard®?

If you live in Canada, you have probably already heard about Conexus. Now, it features a Cash Back Mastercard® credit card that gives you 1 point for each dollar spent!

Cartão BMO Cash Back Mastercard

How to apply for BMO CashBack® Mastercard®?

Are you searching for a credit card that rewards you on purchases in your favorite grocery stores in Canada? Then, learn how to apply for BMO CashBack® Mastercard®!

BMO CashBack® Mastercard®Conexus Cash Back Mastercard®
Sign-up bonus5% cashback in the first 3 months of account opening on every purchase.N/A.
Annual fee$0.$0.
Rewards*3% cash back on grocery stores or supermarkets.

1% cashback on ongoing bill payments.

0.5% unlimited cash back on every other purchase.

*Terms apply.
2 points for every $1 spent at gas stations.

1 point for every $1 spent on every other purchase.

*Terms apply.
Other perks*Extra cashback if you add another cardholder for free.

Extended warranty and purchase protection.

A 1.99% intro interest rate on balance transfers is available for 9 months with a 1% fee for transfers.

*Terms apply.
You can replace and repair your cellphone for up to $1,000 if it gets stolen, lost, or damaged accidentally.

Get alerts on your phone if there are any fraudulent activities on your card.

*Terms apply.
APR19.99% to 22.99%.19.90%.

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BMO CashBack® Mastercard®

Find out more about this credit card. Source: BMO.
Find out more about this credit card. Source: BMO.

The BMO CashBack® Mastercard® credit card has a reasonable cashback rewards rate that ranges from 0.5% to 3% cashback. You can get 3% cash back on purchases made at grocery stores or supermarkets, 1% cashback on ongoing bill payments, and 0.5% on all other purchases. However, there is a monthly spending cap of $500 for each grocery purchase and ongoing bill payments. But even with this, you can get the best out of this cashback card.

Moreover, the current welcome offer is a 5% cashback bonus available during your first 3 months of account opening. Also, some terms apply to this welcome bonus, such as the 5% rate considers qualified purchases of up to $2,500 total.

In addition, it can be very simple to redeem your cash back rewards with this credit card. You can redeem your cashback at any time for as little as $1. Also, if you want to estimate your rewards before applying for the card, you can do that. On BMO’s website, you can estimate your monthly spending regarding each cashback category. Then, you can see the total amount of cashback you can earn in your first year!

Also, regarding safety, this credit card offers the technology of locking and unlocking your card if it gets stolen or lost. Moreover, you get zero liability for any purchases you did not authorize on your card. Plus, BMO alerts you if there are any suspicious activities on your card.

Conexus Cash Back Mastercard®

Check out the features of this credit card. Source: Conexus.
Check out the features of this credit card. Source: Conexus.

The Conexus Cash Back Mastercard® credit card has no annual fee and a great rewards redemption feature. You can earn 1 point for every $1 you spend with the card. Also, you get double the points when you spend at gas stations. And you can redeem these points as cashback on your card, or you can transfer them as a credit to your Conexus account.

Moreover, you can get travel rewards through your points, including purchases related to cruises, events, dining, flights, accommodation, and even spas! Also, you can use the tools offered by the card to create a budget and better control your finances.

In addition, you can get purchase protection and an extended warranty as a cardholder. You can get purchase protection for 90 days after your purchase if your purchase gets stolen or damaged. Also, the extended warranty offers double the purchase warranty for up to 12 additional months.

And there is not much information about the credit score needed to qualify for this credit card. However, it is best to have a good credit score when applying for a card. Also, you can increase your score by making your monthly payments on time. You can set up automatic payments to help you with this.

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Benefits of BMO CashBack® Mastercard®

  • There is no annual fee.
  • This card offers very flexible redemption of your cashback rewards.
  • You can get other perks, such as discounts on Cirque du Soleil tickets.
  • The rewards rate offered can be very good. It ranges from 0.5% to 3%.
  • There is a relatively generous welcome bonus of 5% cashback in your first 3 months of account opening.
  • As a new cardholder, you can get 1.99% intro interest on balance transfers for 9 months with a 1% fee for transfers.

Benefits of Conexus Cash Back Mastercard®

  • You can turn your points into travel rewards, including flights, accommodation, spas, and more!
  • Your rewards points double when you make purchases at gas stations.
  • There is no annual fee.
  • You can earn 1 point for each dollar you spend with the card.

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Disadvantages of BMO CashBack® Mastercard®

  • There is a spending cap of $500 for grocery purchases and $500 for ongoing bill payments.
  • The cashback rewards rate for all purchases outside of the 3% and 1% rewards is only 0.5%.

Disadvantages of Conexus Cash Back Mastercard®

  • There are few extra perks to this card.
  • Some other similar cards offer a higher rewards rate.

BMO CashBack® Mastercard® or Conexus Cash Back Mastercard® card: which you should choose?

Both the BMO CashBack® card and the Conexus Cash Back card are great cashback credit card options that come with no annual fee. However, you might want to choose only one of them. If that is the case, you can analyze your spending and see which is best for your lifestyle. For example, the BMO CashBack® Mastercard® card can be best for those who want a higher cash back rewards rate. And the Conexus Cash Back Mastercard® card can work well for those who like travel rewards.

Moreover, you can get the best of the cashback rewards of the BMO CashBack® card. There is a 5% welcome bonus for new cardholders and a rewards rate that ranges from 0.5% to 3%. However, these rewards may come with some spending caps.

On the other hand, the Conexus Cash Back Mastercard® card offers one Conexus point for every dollar you spend with the card. Also, you get double the points if you buy at gas stations. The catch is that you can redeem these points for travel rewards related to flights, accommodations, spas, and more!

Therefore, the BMO CashBack® card is for those who like to spend an average amount of money on everyday purchases. You can get a good cash back rewards rate and some other perks. And with the Conexus Cash Back card, you can turn your points into travel rewards.

However, if you still want to look for other cashback card options, check out our post about the Discover it® Cash Back card. It has a good cash back rewards rate, and you can get an amazing welcome bonus. So, check out our post below with a full review!

Cartões Discover it

Discover it® Cash Back credit card full review

The Discover it® Cash Back credit card can be a great card for those who love cashback rewards! So, check out our post with a full review of this Discover card!

About the author

Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by

Aline Barbosa

Senior Editor

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