Learn How to Apply for a BMO Cashback Mastercard

What do I need to know before applying?

The BMO Cashback Mastercard comes with a special welcome offer of up to 5% cashback on all your purchases.

BMO is one of the leading banks in North America, serving customers in the U.S. and Canada with expertise and quality. 

The bank offers a variety of banking services, such as account financial management, as well as a range of credit card options.

The BMO Cashback Mastercard is one of the top cards for cashback benefits and has no annual fee. The card provides a variable credit limit depending on the applicant’s conditions.

The card’s welcome bonus consists of two key features:

• Up to 5% cashback on all purchases during the first 3 months with the card
• An introductory 0.99% balance transfer rate for the first 9 months

After that, it charges a 2% transfer fee and a 20.99% purchase rate for its customers. 

In general, the card offers the following cashback rates:

• 3% cashback on grocery purchases, focusing on your everyday food shopping
• 1% cashback on recurring bills such as subscriptions, monthly utilities, and streaming services
• 0.5% cashback on all other purchases

You can redeem your cashback without expiration for as long as your account is open, with redemption starting at $1 as a statement credit, or into a checking or savings account, or through an InvestorLine account. 

If you’d like to know more about the card, keep reading.

Who can Apply?

The BMO Cashback follows standard market conditions with basic requirements for applicants. 

First, you must be of legal age in your province or territory, which varies from 18 to 19 years old depending on the state of residence. 

You must not have declared bankruptcy in the past 7 years to be eligible for the credit card.

The bank typically requires a good credit score, generally between 600 and 700. Unlike other cards, BMO does not require a minimum monthly income.

However, all applications are subject to BMO’s availability in each case.

How do I Apply for the BMO Cashback Mastercard?

To apply, you can click the ‘Apply Now’ button, which will redirect you to the application form. 

First, you’ll need to indicate if you already have a BMO debit card. If not, you’ll need to answer whether you have a Canadian address.

After that, you can begin the application. Here’s what you’ll need to provide:

• Full name (optional last name) and date of birth
• Email address and phone number
• Full address, housing situation, and monthly payment
• Income-related information and banking details

Once you submit the application, BMO will perform a complete profile review, promising a quick response.

For any questions, you can contact BMO directly.

More Details

The card allows you to fully manage your finances through the app, including blocking or unblocking the card and reporting any issues.

You can also track your credit score through CreditView, with details of all your transactions.

Regarding security, you are covered by zero liability for unauthorized purchases, BMO purchase alerts, and Mastercard Identity Check to protect your online shopping.

As for additional benefits, you get a free additional cardholder, an extended warranty, and more:

• Up to 20% off at National Car Rental
• Up to 20% off Cirque du Soleil shows
• Up to 7% off prepaid hotel or accommodation bookings with Booking.com
• BMO PaySmart installment plan

In this way, the credit card is quite effective for those who need to start building credit and increase their score for other products over the months.

Additionally, the card is very efficient for everyday purchases, especially for those who need a low-cost card.

Written by

Gabriel Gonçalves