BMO AIR MILES® Mastercard®* for Students vs BMO CashBack® Mastercard®: Which one is better?
BMO AIR MILES® Mastercard®* for Students
4
BMO CashBack® Mastercard®
3.2
Finly Rebate
Finly Rebate
Rewards Breakdown
Annual Rewards
$63.16
Air Miles
First Year Bonus Value
$144
Air Miles
Annual Fee
$0
Finly Rebate
$35Exclusive Offer
First Year Value
$242.16
$63.16 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$238.05
First Year Bonus Value
$94.3
Annual Fee
$0
Finly Rebate
$50Exclusive Offer
First Year Value
$382.35
$238.05 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Extended Warranty
1 year
Purchase Protection
90 days
Insurance Included*
Extended Warranty
1 yearPurchase Protection
90 days
Extra Benefits*
Car Rental Discount
20% off base rate of participating National Car Rental and Alamo Rent a Car and up to 5% on Enterprise Rent-A-Car
Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookingsDiscount
Up to 7 cents off per litre on Shell® fuel if you are an AirMiles collectorDiscount
Get 20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas
Extra Benefits*
Car Rental Discount
Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool.Discount
Get 20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas..svg)
Gas Discount
Save up to 7 cents per litre at Shell stations when linked with Air MilesHotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.
Interest Rates*
Purchase:
21.99%
Cash Advance:
23.99%
Balance Transfer:
23.99%
Interest Rates*
Purchase:
21.99%2
Cash Advance:
23.99%2
Balance Transfer:
23.99%2
Annual Fee*
$0
Annual Fee*
$0
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
$15,000
Min Household Income:
N/A
Welcome Bonus*
Get 800 AIR MILES Bonus Miles when you spend $1,000 in net card purchases (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit, or debit adjustments) in the first three (3) months from the Credit Card open date.
Welcome Bonus*
Get up to 5% cash back in your first 3 months and a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee*.
Rewards Rate*
- 3x Miles points per $25 spent at participating AIR MILES Partners
- 2x Miles points per $25 spent on eligible grocery purchases
- 1x Mile point per $25 spent on all other eligible purchases
Rewards Rate*
- 3% cash back on grocery purchases (maximum $15 per statement)
- 1% cash back on recurring payments like bills or subscriptions (maximum $5 per statement)
- 0.5% cash back on all other purchases
Loyalty Program*
Loyalty Program*
N/A
Point Redemption Options*
Most Optimal
Travel
18¢ / point
Statement Credits (Cash)
10¢ / point
Merchandise
9¢ / point
Point Redemption Options*
Not Applicable
Is this card worth it?
The BMO Air Miles Student Mastercard is an excellent option for those looking to collect Air Miles without paying an annual fee. With bonus earning opportunities at Air Miles partners and grocery stores, this card is ideal for regular Air Miles collectors. It also offers perks like fuel savings at Shell and a competitive balance transfer rate, making it a versatile card for everyday purchases. However, its limited rewards outside of partner stores may not make it the best fit for those who don't frequently shop at Air Miles-affiliated retailers.
Is this card worth it?
This is a great basic cashback credit card for those that prefer no annual fees while getting one of the highest cashback rates on groceries. You also have the additional benefit of redeeming cashback at any point without needing to wait.
Pros
- No annual fee: The card is free to hold, making it a cost-effective way to collect Air Miles.
- Bonus miles at partners: Earn 3x the miles at Air Miles partners and 2x the miles at grocery, liquor, and wholesale stores.
- Fuel savings: Save up to 7 cents per litre at Shell stations, with the potential to save up to $100 annually.
- Balance transfer offer: 0.99% promotional interest rate on balance transfers for the first 9 months.
Pros
- No annual fee, making it a cost-effective option.
- Up to 3% cash back on groceries and 1% on recurring bill payments.
- Save up to 7 cents per litre at Shell stations when linked with Air Miles.
Cons
- Low base earn rate: Earn only 1 Air Mile per $25 spent on all non-bonus purchases.
- Limited insurance: The card only offers basic insurance, such as extended warranty and purchase protection.
- Limited value outside Air Miles partners: Rewards earning potential is higher at participating partners, but significantly lower for general spending.
Cons
- Low base earn rate of 0.5% cash back on non-bonus purchases.
- Limited insurance coverage (extended warranty and purchase protection only).
vs BMO CashBack® World Elite® Mastercard®
vs BMO eclipse Visa Infinite Privilege* Card
vs BMO Preferred Rate Mastercard®
vs BMO VIPorter World Elite Mastercard®∗
vs BMO eclipse Visa Infinite* Card
vs BMO eclipse rise Visa* Card
vs BMO Ascend™ World Elite®* Mastercard®*
vs BMO CashBack® Mastercard® for Students
vs BMO AIR MILES® World Elite®* Mastercard®*
vs BMO VIPorter Mastercard®∗
vs BMO AIR MILES® Mastercard®*
vs BMO CashBack® World Elite® Mastercard®
vs BMO eclipse Visa Infinite Privilege* Card
vs BMO Preferred Rate Mastercard®
vs BMO VIPorter World Elite Mastercard®∗
vs BMO eclipse Visa Infinite* Card
vs BMO eclipse rise Visa* Card
vs BMO Ascend™ World Elite®* Mastercard®*
vs BMO CashBack® Mastercard® for Students
vs BMO AIR MILES® World Elite®* Mastercard®*
vs BMO VIPorter Mastercard®∗
vs BMO AIR MILES® Mastercard®*
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