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bmo cashback mastercard

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.

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Students – BMO CashBack® Mastercard®* review

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
⁎Estimates based on Equifax scoring

Card Type

Credit

Reward Type

Cash Back

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

    Purchase Protection

    90 days
  • extended warranty

    Extended Warranty

    1 year

    • Benefits

    Details

  • car rental

    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

    Discount

    Get 20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas.
  • discount

    Hotel Booking Discount

    Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.
  • discount

    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

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