BMO Cashback Mastercard: Up to 5% Cashback as a Welcome Offer

The BMO Cashback Mastercard offers up to 5% cashback during the first three months with the card as a benefit for new customers.

The card has no annual fee and has won multiple awards as one of the best no-fee cashback cards. Here’s how you can apply.

SEE HOW TO APPLY

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BMO is a North American bank headquartered in Chicago, offering its services across America, including Canada. It is currently the eighth-largest bank in North America, operating in both territories.

In this regard, BMO provides various banking services, including credit cards.

The BMO Cashback Mastercard offers 3% cashback on grocery purchases, 1% cashback on recurring bill payments such as subscriptions, utilities, and streaming services, and 0.5% cashback on all other purchases, whenever you spend.

You’ll enjoy rewards that never expire, with the ability to redeem them anytime for as little as $1.

You can withdraw the cashback into your BMO checking or savings account, as a statement credit, or through an InvestorLine account.

BMO also offers a BMO Cashback calculator to estimate your annual rewards.

During the first three months with the BMO credit card, you’ll receive 5% cashback, provided everything is in order. This calculator will help you gain a full understanding of how much you could earn.

The BMO card offers an initial credit limit that meets the requirements, with projections for limit increases as you continue to use it.

The welcome offer isn’t in cash but rather a 5% cashback for the first three months with your credit card.

The card has no annual maintenance fee, with a 20.99% interest rate for purchases and 22.99% for cash advances.

To qualify for the BMO Mastercard, you need to have a good credit score, typically between 600 and 770 for most users.

Yes, you can apply for the credit card directly through the bank’s customer service channels.

The card offers additional benefits such as:

Extended warranty and purchase protection
Up to 20% off with National Car Rental
Up to 20% off Cirque du Soleil shows
Up to 7% off bookings on Booking.com

BMO offers robust security, including financial monitoring with free 24/7 access to CreditView, allowing you to check your credit score and see a detailed view of all your purchases.

For added security, the Mastercard comes with zero liability protection and alerts to confirm whether it was you who made the transaction.

The BMO PaySmart installment plan allows you to intelligently break up your credit card purchases with BMO’s Mastercard.

Overall, the BMO card is quite comprehensive, especially since it has no annual maintenance fees, making it a great option for starting your credit journey.