BMO CashBack® Mastercard® vs Students – BMO CashBack® Mastercard®*
Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.
Welcome bonus
Each offer as the issuer words it. The numbers below show whether your spending reaches it.
The offer
The offer
- Get 5% cash back in your first 3 months*
- Get a 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred*
- Get up to 5% cash back in your first 3 months, up to $2,500 in spend (max $125 cashback)
What each card is worth
Rewards, the welcome bonus and any Finly rebate in, the annual fee and FX fees out, all on your spending.
Worked out on a typical $2,000 a month of spending. Enter yours to see your own numbers.
$336
First-year value
$336
$238
Every year after
$238
Both cards are worth about the same to you in year one.
After that, they're worth about the same each year.
How the first year adds up
Annual rewards
$238.43
cash back a year
Welcome bonus
+ $97.5
first year only
Annual fee
− $0
no annual fee
First-year value
$335.93
Annual rewards
$238.43
cash back a year
Welcome bonus
+ $97.5
first year only
Annual fee
− $0
no annual fee
First-year value
$335.93
Where each card earns
A year of your spending at each card's own reward rates, most first.
3%Groceries
$127.71
1%Recurring Transactions
$24
0.5%All other purchases
$86.72
3%Groceries
$127.71
1%Recurring Transactions
$24
0.5%All other purchases
$86.72
Fees, rates and eligibility
What each card costs to hold and to use abroad, and who it's for.
Annual fee
Additional cards
Interest rates
Interest rates
Purchase:
21.99%1
Cash Advance:
23.99%1
Balance Transfer:
23.99%1
1 Terms and conditions apply. Each balance transfer is subject to a fee of 2% which will be charged to your account on the date the balance transfer is posted to your Account.
Purchase:
21.99%
Cash Advance:
23.99%
Balance Transfer:
23.99%
Recommended credit score
Recommended credit score
Income required
Income required
Min Personal Income:
N/A
Min Household Income:
N/A
Min Personal Income:
N/A
Min Household Income:
N/A
How each card earns
The earn rates and caps, as each issuer sets them.
- 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
- 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
Insurance and perks
What both cards include comes first in each list.
Insurance
Insurance
Extended Warranty
1 year
Purchase Protection
90 days
Extended Warranty
1 yearPurchase Protection
90 days
Perks
Perks
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.
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.Discount
Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
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.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.Discount
Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card. Terms apply.
Our take
Why we like it
Why we like 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.
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.
Pros
Pros
- No annual fee
- Impressive grocery cashback
- Multiple discounts
- No annual fee
- Solid cashback optimization
- Shell fuel discounts
- Hotel booking discounts
- Entertainment discounts
Cons
Cons
- Low base earn rate
- Limited insurance
- Low base earn rate
- Limited insurance
More comparisons
Other cards we've put each of these up against.
Legal
*Terms and conditions apply.
Each balance transfer is subject to a fee of 2% which will be charged to your account on the date the balance transfer is posted to your Account.
BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
