⭐ 3.3/5🏦 BMOCash Back Card

BMO CashBack Mastercard

CREDIT CARD REVIEW

🎁 5% cash back, up to $125, in your first 3 billing cycles

MoneyMint Rating: 3.3/5 — based on our published rating criteria (rewards value, fees, flexibility, and eligibility transparency). Not sponsored by BMO.

The BMO CashBack Mastercard is a no-fee card earning 3% on groceries and 1% on recurring bills, each capped at $500 in spend per statement period, plus 0.5% on everything else. It’s aimed at everyday spenders who want automatic bonus categories without opting in or choosing anything. The spending caps mean it suits modest monthly grocery and bill spending better than large purchases.

At a Glance

Annual fee

$0/yrno annual fee

Purchase APR

21.99%from BMO’s official rate disclosure

Cash advance APR

23.99%same rate applies to balance transfers

Cash back rate

Up to 3%groceries and recurring bills, capped at $500/period each

Foreign transaction fee

2.5%standard network-wide BMO Mastercard charge

Rewards currency

Cash backMastercard network

Income requirement

Not disclosedBMO states “minimum income requirements” with no published figure

Issuer

Bank of Montrealminimum credit score not published

Pros & Cons

Pros

No annual fee
3% cash back on groceries, 1% on recurring bills — automatic, no category selection needed
Cash back never expires while the account stays open
Redeemable any time in $1+ increments, including automatic recurring deposits from $25
Standard Mastercard Zero Liability fraud protection

Cons

Grocery and recurring-bill bonus rates are capped at $500 in spend per statement period each
Base rate outside those categories is only 0.5%
No gas or transit bonus category on this no-fee tier
Exact minimum income requirement isn’t published
Two official BMO documents describe different reward structures — we’re publishing the version corroborated by two independent sources

Rewards & Earn Rates

🛒 Groceries3% cash backcapped at $500 in eligible spend per statement period (~$15 max bonus)

🧾 Recurring bill payments1% cash backcapped at $500 in eligible spend per statement period (~$5 max bonus)

💳 All other purchases0.5% cash backunlimited, no cap

Cash back is redeemable any time in $1+ increments via statement credit, deposit to a BMO account, or automatic recurring deposit starting at $25.

Note: a second official BMO document describes a different reward structure (a flat 0.5% plus 1.5% at Shell, capped at $2,500/month) for what appears to be the same card. The live product page and BMO’s terms & conditions page both corroborate the 3%/1%/0.5% structure shown above, so we’re treating that as current — but flagging the conflicting document since it’s still hosted on bmo.com.

Perks & Benefits

Everyday Perks

Contactless tap & go, Apple Pay / Google Pay support
Car rental discounts, up to 20% at National/Alamo
Optional paid add-ons: Roadside Assistance, Balance Protection

Coverage & Fees

Extended Warranty — doubles manufacturer’s warranty, up to 1 extra year
Purchase Protection — 90 days from purchase
2.5% foreign transaction fee (standard)
No annual fee

Worth Knowing

Minimum income requirement not disclosed
A possible overall monthly cash-back cap was found in BMO’s T&Cs, but explicitly attributed to the fee-based World tier — unconfirmed whether it applies here
Some grocery-adjacent stores (big-box, warehouse clubs) may not be coded as groceries, so may not earn the 3% rate

Who It’s For

Best For

Everyday spenders who want simple, automatic bonus categories with no setup
Households with grocery and recurring-bill spending around $500/period each
Anyone who wants a no-fee cash back card with no minimum spend or category selection

Not For

Big spenders in groceries or bills who’ll exceed the $500/period caps
Gas- or transit-heavy spenders — no bonus category here
Anyone who wants a high flat cash back rate on general spending

Key Drawbacks to Know Before Applying

The grocery and recurring-bill bonus categories are capped at $500 in spend per statement period each, so spending beyond that in either category only earns 0.5%. BMO also doesn’t publish a minimum income figure or credit score, so eligibility isn’t fully transparent up front, and two of BMO’s own official documents describe different reward structures for what appears to be the same card — we’ve published the version corroborated by the live product page and BMO’s terms & conditions, but you should confirm current terms directly with BMO before applying.

This is general information, not personalized financial advice — consider your own spending habits and consult a professional for decisions specific to your situation. Rates, fees, and offers are set by Bank of Montreal and can change without notice; always confirm current terms on the issuer’s official page before applying.

BMO CashBack Mastercard Review