The BMO^® CashBack^® Mastercard^®* (as well as the student version, the BMO^® CashBack^® Mastercard^®* for students) have a new earning structure:

Now, with the BMO^® CashBack^® Mastercard^®*, you can earn:

• 3% cash back for groceries
• 1% cash back for recurring payments

With a $500 monthly purchase limit for each of those two categories.

Beyond that, and for all other purchases, it’s 0.5% cashback.

This no-annual-fee card follows the movement of other cards focusing on everyday expenses such as groceries.

It will be suggested for people:

• beginning with credit cards rewards
• wanting to build their credit history

But in the long run, it will be better to apply for other cards offering more favourable rewards (such as our best credit card for groceries).

Anyway, this card comes with a 5% cashback welcome offer in the first three months up to $2,000 of purchases. That’s a $100 cash back.

This is in line with other credit cards with no annual fee. Find out how to earn your BMO Cash Back in this article.