BMO CashBack® Mastercard® vs BMO Preferred Rate Mastercard®: Which one is better?
BMO CashBack® Mastercard®
3.2
BMO Preferred Rate Mastercard®
3.6
Finly Rebate
Finly Rebate
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.
Rewards Breakdown
N/A
Insurance Included*
Extended Warranty
1 year
Purchase Protection
90 days
Insurance Included*
Extended Warranty
Doubled up to 1 yearPurchase Protection
90 days
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..svg)
Gas Discount
Save up to 7 cents per litre at Shell stations when linked with Air Miles
Hotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.Discount
Get 20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas.
Extra Benefits*
N/A
Interest Rates*
Purchase:
21.99%1
Cash Advance:
23.99%1
Balance Transfer:
23.99%1
Interest Rates*
Purchase:
13.99%2
Cash Advance:
15.99%2
Balance Transfer:
15.99%2
Annual Fee*
$0
Annual Fee*
$29
Income Required*
Min Personal Income:
$15,000
Min Household Income:
N/A
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
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*.
Welcome Bonus*
Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee*
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
Rewards Rate*
No rewards earned on this card
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.
Is this card worth it?
If you plan to carry a balance on your credit card, this card offers a very low interest rate. However, there are other cards with no annual fee and slightly lower interest rates that you might want to consider as well.
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.
Pros
- Low interest rate
- Nice welcome offer for balance transfer
Cons
- Low base earn rate of 0.5% cash back on non-bonus purchases.
- Limited insurance coverage (extended warranty and purchase protection only).
Cons
- Annual fee while there are similar cards that don't have that fee with them
- No benefits other than the most basic purchase protection and extended warranty
vs BMO CashBack® World Elite® Mastercard®
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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®* for Students
vs BMO AIR MILES® Mastercard®*
vs BMO CashBack® World Elite® Mastercard®
vs BMO eclipse Visa Infinite Privilege* Card
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®* for Students
vs BMO AIR MILES® Mastercard®*
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