The Stealth Capitalist recommendation - BMO CashBack® Mastercard® review

Loading the best recommendation for you…

Are you looking for a realiable cash back card to reward you on daily purchases?

The BMO CashBack® Mastercard® gives you money back in your pocket!

Looking for an entry-level card that will reward you for your everyday spending? The BMO CashBack® Mastercard® might be the perfect fit for you. This card offers 0.5% cash back on all your purchases, with no limits on how much you can earn. Plus, there is no annual fee to worry about. So why not give it a try? You might be surprised at how much money you can earn back!

You will remain in the same website

Check some of the many benefits you'll have access to with the BMO CashBack® Mastercard® in your pocket!

3% cash back on groceries;

No annual fee;

0.99% intro APR for 9 months;

No minimum redemption;

The BMO CashBack® Mastercard® is a versatile and user-friendly credit card designed to maximize your everyday spending.

Tailored for those who appreciate simplicity and efficiency in their financial tools, this card transforms your regular purchases into valuable cash back rewards.

Whether you’re filling up your gas tank, grocery shopping, or tackling daily expenses, the BMO CashBack® Mastercard® is your partner in smart spending and saving.

Advantages to Enjoy

Cash Back on Everyday Purchases: Earn cash back on every purchase, turning your regular spending into rewards.
No Annual Fee: Enjoy the benefits of a cash back card without worrying about an annual fee.
Introductory Offers: Often comes with attractive introductory promotions, enhancing its initial appeal.
Flexible Redemption Options: Redeem your cash back with ease, allowing for straightforward and convenient rewards management.
Additional Cardholders at No Extra Cost: Add family members as additional cardholders without incurring extra fees.
Purchase Protection and Extended Warranty: Offers added security and extended warranty on purchases, providing peace of mind.
Contactless Payments: Equipped for contactless payments, ensuring a faster and safer checkout experience.

Disadvantages to Keep an Eye On

Lower Cash Back Rate Compared to Some Cards: Cash back rate might be lower than what some other cards offer.
No Travel Insurance Benefits: Lacks travel insurance benefits, which can be a downside for frequent travelers.
Foreign Transaction Fees: Charges fees on foreign transactions, making it less ideal for international use.
Limited Additional Perks: Offers fewer perks and benefits compared to premium credit cards.
Caps on Cash Back Earnings: May have caps on the amount of cash back you can earn in certain categories.
Credit Score Requirement: Requires a good credit score, potentially limiting accessibility for some applicants.
No Specialized Rewards Categories: Does not offer higher cash back rates on specialized categories like dining or travel.

In summary, the BMO CashBack® Mastercard® stands out as a practical choice for those seeking a straightforward, no-frills cash back card.

Its simplicity, combined with the benefit of earning rewards on everyday purchases, makes it a suitable option for regular spenders.

However, the card’s limitations in terms of additional perks and specialized rewards categories must be considered.

It’s an ideal pick for those who prioritize ease of use and cash back on all types of spending, without the complexities of a tiered rewards system.

The BMO CashBack® Mastercard® offers up to 3% cash back: 3% on groceries, 1% on recurring bill payments, and 0.5% on all other eligible purchases. You can redeem your cash back as little as $1, anytime, for statement credit, cheque, deposit, or gift card.

BMO Bank takes pride in providing exceptional customer service, ensuring your questions and concerns are addressed promptly and efficiently. No matter the time of day or night, BMO’s dedicated agents are always available at 1-800-263-2263 to assist you.

BMO Bank offers a variety of accounts to meet your individual needs, including: chequing accounts for everyday banking, savings accounts for earning interest on your money, credit cards for making purchases and earning rewards, investment accounts for growing your wealth, and more.

You can track your spending with BMO online banking by logging in to your account and clicking on the ‘Transactions’ tab. This will show you a list of all your recent transactions. Additionally, you can set up alerts to notify you when your balance falls below a certain amount or when a transaction is made for a certain amount.

If you’re not sure how to get the BMO CashBack® Mastercard®, we are here to help! Check the following link and learn everything about the application process.