- Welcome offer: Get 5% cash back in your first 3 months¹
- 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!²a,²b,²c,²d
- Now earn the highest cash back on groceries in Canada without paying an annual fee!†
- Get a 1.99% introductory interest rate on Balance Transfers for 9 months, 1% fee applies to balance amounts transferred⁶
- No annual fee³.
- FREE additional cards
- Extended Warranty⁵
- Purchasing Protection⁵
Fees & Conditions
We estimate the value of the welcome offer during the first year for all the credit card offers. Are taken into consideration:
- The value of cash back or points earned
- The value of the benefits or credits earned with the Card
- The annual fee value (offered or not)
|Calculation of the offer value
in the first year
|Value per point||1.0 ¢|
|Welcome bonus||about $100|
1. BMO CashBack Mastercard applications must be received between May 1, 2020 and October 31, 2021 to receive the 5% welcome bonus cash back offer. You will earn cash back for every dollar spent (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, credit or debit adjustments) as follows: Grocery purchases: Receive 3% cash back in eligible grocery purchases (classified by Mastercard’s “Merchant Category Code” as “grocery stores and supermarkets” MCC 5411) up to a maximum of $500 per billing cycle and an additional 2% bonus cash back for the first three (3) billing cycles up to a maximum of $500 spent. Recurring Bill Payments: Receive 1% cash back in eligible recurring bill payments (defined as payments made on a monthly or other regular basis, and which are automatically billed by the merchant to your BMO CashBack Mastercard) up to a maximum of $500 per billing cycle and an additional 4% bonus cash back for the first three (3) billing cycles up to a maximum of $500 spent. All other purchases: Receive 0.5% cash back in purchases (non-grocery and non-recurring bill payments) and an additional 4.5% bonus cash back for the first three (3) billing cycles up to a maximum of $1,500 spent. The 5% bonus cash back offer is limited to new BMO CashBack Mastercard accounts and will not be awarded to current or former cardholders who reinstate a closed account, product transfer, or who open a new account. Limit of one bonus offer per account. If you cancel your card within ninety (90) days from the date your account is opened, all CashBack Rewards earned within that period will be cancelled. This offer may be withdrawn or changed without notice.
2. a) Offer is cumulative over the statement period. Award of CashBack rewards is made for purchases charged to your account (less refunds and excluding cash advances, cash-like transactions, interest charges, fees, payments, credit or debit adjustments) and is subject to the CashBack Rewards Terms and Conditions and the BMO Mastercard Cardholder Agreement. The number of CashBack rewards will be rounded down to the nearest cent.
b) Earn 3% cash back in Grocery Store purchases up to a maximum of $500 per statement cycle period. The 3% cash back includes the base earn rate of 0.5% cash back for card purchases (“Base Rewards”) and the bonus of 2.5% cash back for Grocery Store Purchases (“Bonus Rewards”). To earn Bonus Rewards, your Grocery Store Purchase must be made at merchants classified by Mastercard’s “Merchant Category Code” as “grocery stores and supermarkets” (MCC 5411). BMO (“Bank of Montreal”) cannot guarantee that any merchant, operating in whole or in part as a grocery store, is classified by MCC 5411 and in no event will BMO be liable or responsible for any claims with respect to a grocery store purchase made at a merchant that is not classified by MCC 5411. To consult the list of participating merchants, please call the number on the back of your card.
c) Earn 1% cash back on Recurring Bill Payments up to a maximum of $500 per statement cycle period. The 1% cash back includes the base earn rate of 0.5% cash back for card purchases (“Base Rewards”) and the bonus of 0.5% cash back for Recurring Bill Payments (“Bonus Rewards”). Recurring bill payments are defined as payments made on a monthly or other regular basis, and which are automatically billed by the merchant to your BMO CashBack Mastercard. Not all merchants offer recurring payments, and not all ongoing payments will be considered “recurring bill payments” and therefore may not earn Bonus Rewards. Please check with your merchant to see if your recurring payment qualifies.
d) Receive 0.5% unlimited cash back on non-grocery and non-recurring bill payment purchases, and on grocery purchases and recurring bill payment purchases that exceed the $500 maximum spend per statement period.
3. Ongoing interest rates, interest-free grace period, annual fees and all other applicable fees are subject to change. Cash advances include Balance Transfers, cash-like transactions and Mastercard cheques. Visit your branch; call the Customer Contact Centre at 1-800-263-2263, or visit bmo.com/creditcards for current rates and fees.
4. The contract ID number (3717122 for National Car Rental and 7014883 for Alamo Rent A Car) must be included when making a car rental reservation to receive discounts. Discount applies to base rate only at participating National Car Rental and Alamo Rent A Car locations. Discount varies by rental date, location and vehicle type. Taxes, other governmentally-authorized or imposed surcharges (including GST), license and concession recoupment fees, airport and airport facility fees, fuel, additional driver fee, one-way rental charge and optional items (such as LDW up to US $30 per day) are extra. Renter must meet standard age, driver and credit requirements. 24-hour advance reservation required. May not be combined with other discounts. Availability is limited. Subject to change without notice.
5. Purchase Protection and Extended Warranty Insurance benefits provided by Allianz Global Risks US Insurance Company (Canadian Branch).
6. a) Subject to these Terms and Conditions, each balance transfer amount is eligible for a promotional interest rate of 1.99% provided that each balance transfer is posted to your BMO CashBack Mastercard account or BMO Rewards Mastercard account (the “Account”) in the first 9 (nine) statement periods from the Account open date (“Promotional Period”) , and your Account remains in good standing. Offer is available to new customers only upon Account approval for applications submitted on or after August 8, 2018. Balances from other BMO credit card accounts are not eligible to be transferred. The promotional rate will no longer apply to your Account if you transfer into a card other than the BMO CashBack Mastercard or BMO Rewards Mastercard. Balance transfers apply to Canadian dollar amounts only.
b) Balance transfers do not qualify to earn loyalty rewards such as CashBack Rewards or BMO Rewards Points. Balance transfers are treated as cash advances and the promotional interest rate applies from the date the transactions are posted to your Account until the last day of the Promotional Period. After the Promotional Period expires, any remaining balance transfer amounts will be charged interest at the standard annual interest rate for cash advances. The promotional interest rate of 1.99% does not apply to purchases, fees, cash advances and other charges posted to your Account during the Promotional Period. Standard interest rates will continue to apply to those transactions. Please refer to your monthly statement for the interest rate applicable to your Account.
c) Each balance transfer is subject to a fee of 1% which will be charged to your account on the date the balance transfer is posted to your Account. For example, if an amount of $1,000 is transferred to your Account, you will be charged a fee of $10. You may request a balance transfer for as low as $100, as long as the transfer amount plus the fee, does not exceed the unused portion of the credit limit on your Account.
d) If your Account has balances with different interest rates, such as purchases with a standard interest rate and balance transfers with a promotional interest rate, any payment that exceeds the minimum payment will be allocated proportionately to those balances according to the terms set out in section 14 of the BMO Mastercard Cardholder Agreement. For example, if you have an $800 purchases balance at the standard interest rate and a $200 balance transfer balance at a promotional interest rate, 80 per cent of your payment will be allocated to your purchases balance and 20 percent will be allocated to your balance transfer balance. This offer may be withdrawn or changed without notice.
e) You will pay interest on purchases unless you pay your full Account balance by the payment due date. For example, if you complete a balance transfer for $5,000 and spend $2,000 in purchases during the same statement period, you must pay the entire balance of $7,000 before the payment due date to avoid paying interest on your purchases. You will be charged interest if you only pay the amount owing for your purchases. There is no interest-free grace period for cash advances or balance transfers.
f) To transfer balances from non-BMO credit card accounts, register for Online Banking or log in at bmo.com and do the following; select your Mastercard account, then select Set up Balance Transfer or Pre-authorized payment, then select Credit Card Balance Transfer and follow the instructions to complete the transfer.
†Based on a comparison of the non-promotional grocery rewards earn rate on cash back credit cards with no annual fee as of Aug 20, 2020.