Reviewed by Jen, founder of MoneyMint · Updated September 25, 2026

BMOCash Back Card

BMO CashBack Mastercard

Our take: strongest for groceries — about 3% back in value (est.) with no annual fee, plus a welcome bonus we value at roughly $125.

Welcome bonus5% cash back, up to $125, in your first 3 billing cycles

Apply on BMO’s site →

Goes straight to BMO
Our review

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.

3.7out of 5

MoneyMint rating

#12 of 34 no-fee rewards cards · How we rate

Rewards value

2/10

Insurance

4/10

Flexibility

10/10

Welcome bonus

2/10

Fee value

10/10

Perks

0/10

≈ $356

estimated first-year value after the annual fee, on a typical $2,050/month budget. Points are converted to dollars using MoneyMint’s own valuations — see our points value calculator for how each program is valued. See it for your spending →

At a Glance

Annual fee

$0/yrno annual fee

Foreign transaction fee

2.5%standard network-wide BMO Mastercard charge

Income requirement

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

Rewards

~3%on groceries (est. value)

Purchase APR 21.99% · Cash advance APR 23.99%

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. BMO’s live product page and its terms & conditions page both confirm the 3%/1%/0.5% structure shown above, with the 3% and 1% rates each capped at $500 of spend per statement cycle. The other document is out of date.

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

Not Sure? Three Cards People Compare It With

All everyday spending cards →

RBC Cash Back Mastercard

Pick this instead if most of your spending is groceries (~2% est.).

Fee $0Rating 3.5 ★Bonus $100

Read review

BMO CashBack Mastercard for Students

Pick this instead if most of your spending is groceries (~3% est.).

Fee $0Rating 3.7 ★Bonus $125

Read review

Triangle World Elite Mastercard

Pick this instead if travel insurance matters more to you.

Fee $0Rating 4.4 ★

Read review

3.7MoneyMint rating

BMO CashBack Mastercard

Best for groceries · No annual fee · ~$125 welcome bonus (est.)

Apply on BMO’s site →Find a better fit

Jen, founder of MoneyMint

Reviewed by Jen. Every figure on this page was checked against BMO’s official card page on September 25, 2026. How we rate cards →

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.

Frequently Asked Questions

What is the annual fee for the BMO CashBack Mastercard?

The BMO CashBack Mastercard has an annual fee of $0 (including supplementary cards).

What is the rewards rate on the BMO CashBack Mastercard?

The BMO CashBack Mastercard offers: 3% cash back on groceries (first $500/statement period, then 0.5%). 1% on recurring bill payments (first $500/statement period, then 0.5%). 0.5% on everything else, uncapped. Note: Costco purchases earn only the base 0.5% (classified as warehouse club, not grocery). First 3 months of the account: BMO advertises up to 5% cash back on purchases as a limited-time promo.

Does the BMO CashBack Mastercard have a welcome bonus?

Up to $125 total cash back during the welcome period, per BMO’s terms and conditions. BMO sets out the qualifying spend and the cash-back cap in the offer terms on its card page, so read those before you apply. Application window stated by BMO as Sept 2, 2022 to Oct 31, 2026 (likely a repeatedly-renewed promo window, not a hard end date) — double-check live offer terms and expiry before you apply.

What credit score do I need to qualify for the BMO CashBack Mastercard?

Generally, you’ll want a good credit score to be considered for the BMO CashBack Mastercard. Approval also depends on income and overall credit history, not credit score alone.

Does the BMO CashBack Mastercard charge foreign transaction fees?

2.5%