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Pros & Cons
Pros
- Welcome Bonus: Up to $125
- Up to 3% on groceries
- Purchase protection included
Cons
- Foreign Transaction Fee (2.5%)
Our Review
The BMO CashBack Mastercard is a no-annual-fee, cash-back credit card. With the BMO CashBack Mastercard, you can earn 5% cash back for the first three months. This represents a maximum welcome bonus of $125 :
- 5% cash back on up to $500 in eligible grocery purchases, for a $25 bonus
- 5% cash back on up to $500 in eligible recurring bill payments, for a $25 bonus
- 5% cash back on up to $1,500 in all other eligible purchases, for a $75 bonus
Then you get a cash back rate of:
- 3% cash back on grocery purchases, including at Walmart Supercenters
- 1% cash back on recurring bill payments
You can also get a 0.99% welcome interest rate on balance transfers for nine months.
Finally, enjoy three months of Instacart+ membership and a $5 monthly Instacart credit when you sign up with your eligible BMO credit card.
Rewards
All Spending
0.5%
cash back on eligible purchases
Groceries
3%
cash back on eligible purchases
Recurring
1%
cash back on eligible purchases
Streaming
1%
cash back on eligible purchases
Credit Card Rewards Calculator
See how much you could earn with this card based on your spending.
Cashback earned
$321
$/yr
Estimated Value
$321
After Fees
+$321
1st Year Value
$446
incl. welcome bonus
Annual rewards breakdown
The calculation uses the maximum advertised welcome offer. Your actual offer may be lower or unavailable.
Purchase Protection
Purchase Protection
Included
Extended Warranty
+1 year(s)
Fees and interest rates
- Annual Fee$0
- Additional card fee$0
- Foreign currency conversion fee2.5%
- Transfer fee2%
Introductory fees and minimums: see terms.
- Purchase Rate21.99%
- Balance transfer rate23.99%Quebec21.99%
- Cash advance rate23.99%Quebec21.99%
- Balance Transfer Promo0.99%
Intro period: 9 months
Terms & Conditions
Card Features
- Welcome offer: 5% cash back for the first three months*
- Then get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases!
- Enjoy three months of Instacart+ membership and a monthly $5 Instacart credit when you sign up with your eligible BMO credit card*
- Enjoy the most cash back on groceries in Canada without paying an annual fee.
- Get a 0.99% introductory interest rate* on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred.
- No annual fee*
- FREE additional cards
- Extended Warranty*
- Purchase Protection*
Legal
*Conditions apply.
BMO is not responsible for updating the content of this site. For the most up-to-date information, please click on the Online Application link.
FAQ
What is the BMO CashBack Mastercard welcome offer?
5% cash back for the first three months.
What are the discount rates after the first three months?
3% on grocery purchases, 1% on recurring bill payments and 0.5% on other purchases.
Are grocery cash back the highest in Canada?
Yes, it’s the highest rate with no annual fee.
What is the interest rate for balance transfers?
A welcome interest rate of 0.99% for nine months, with a 2% fee on the transfer amount.
Is there an annual fee for this card?
No, the BMO CashBack Mastercard has no annual fee.
Can I get extra cards for free?
Yes, additional cards are available free of charge.
What insurance coverages are included with the card?
Extended warranty and purchase insurance included.
Conditions apply. All information is believed accurate but not guaranteed. Card details, rewards, and offers are subject to change at any time. Always verify the latest terms on the issuer’s website before applying. Milesopedia may receive compensation through affiliate links. This does not affect our editorial choices or card rankings. © 2026 BMO. All trademarks are property of their respective owners.
