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4.8
/5
BMO
Mastercard
Students – BMO CashBack® Mastercard®*Cash Back Calculator
5% cash back for the first 3 months, up to $2,500 in spend
Our Take
We consider this card to be the best student credit card in Canada for it's competitive cashback rewards (3% on groceries, 1% on recurring bills), no annual fee and a generous welcome bonus. Plus, cashback redemption is flexible so no need to wait a year each time you want to get your cashback paid out.
Card Details
Interest Rates
Purchase: 21.99%
Cash Advance: 23.99%□
Balance Transfer: 23.99%□
□ Quebec rates: Cash advance 21.99%, Balance transfer 21.99%
Annual Fees
Main Card: $0
Additional Cards: $0
Welcome Bonus
- Get up to 5% cash back in your first 3 months, up to $2,500 in spend (max $125 cashback)
Annual Income
Personal: N/A
Household: N/A
Credit Score Estimate
300⁎Poor
560⁎Fair
660⁎Good
725⁎Very Good
760⁎Excellent
Card Type
Credit
Our Rating
4.8/5
Institution
BMO
How You Earn Rewards
- 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
Annual Rewards Breakdown
Annual Rewards Summary
Point Redemptions
Redemption Method
Net Value (After Annual Fee)
Insurance & Benefits
2 insurance
4 benefits
Insurance
Coverage
Purchase Protection
90 days
Extended Warranty
1 year
Benefits
Details
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.
Hotel Booking Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.
Discount
Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card. Terms apply.
Pros & Cons
Pros
- No annual fee
- Solid cashback optimization
- Shell fuel discounts
- Hotel booking discounts
- Entertainment discounts
Cons
- Low base earn rate
- Limited insurance
Legal
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