BMO CashBack® Mastercard®*

Pros & Cons

Pros

+Welcome Bonus: $100
+Up to 3x 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.

Offer ends: 2026-06-30

Rewards

All Spending

0.5x

Cash Back pts per dollar

Groceries

3x

Recurring

1x

Credit Card Rewards Calculator

See how much you could earn with this card based on your spending.

Groceries3.00%

$700/month

Gas & EV0.50%

$200/month

Transit0.50%

$100/month

Restaurants0.50%

$300/month

Pharmacy0.50%

$50/month

Travel0.50%

$150/month

Bills & recurring payments1.00%

$250/month

Telecom0.50%

$150/month

Entertainment & streaming0.50%

$100/month

Office supplies0.50%

$0/month

All other spending0.50%

$500/month

Cashback earned

$375

$/yr

Estimated Value

$375

After Fees

+$375

1st Year Value

$475

incl. welcome bonus

Annual rewards breakdown

Groceries$8,400/yr × 3.00%$252

Gas & EV$2,400/yr × 0.50%$12

Transit$1,200/yr × 0.50%$6

Restaurants$3,600/yr × 0.50%$18

Pharmacy$600/yr × 0.50%$3

Travel$1,800/yr × 0.50%$9

Bills & recurring payments$3,000/yr × 1.00%$30

Telecom$1,800/yr × 0.50%$9

Entertainment & streaming$1,200/yr × 0.50%$6

All other spending$6,000/yr × 0.50%$30

Total annual spend$30,000

Monthly spend$2,500

Average earn rate on spend per year1.25%

Average earn rate on spend 1st year with welcome bonus1.58%

Total cashback on spend$375

Welcome bonus+$100

Earn $100 Cash Back after $1,000 in purchases in 3 months

Total cashback earned$475

Purchase Protection

✓

Purchase Protection

Included

✓

Extended Warranty

+1 year(s)

Interest Rates

Purchase Rate
21.99%
Cash Advance
23.99%
Balance Transfer Promo
0.99%
Foreign Transaction Fee
2.5%

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*