$125 cash back
Apply Now$138
First-year value
$125
cash back
$0
Annual fee
Based on the minimum spend required to earn the full welcome bonus.
5% bonus earning on up to $2,500 spend in the first three months
Groceries
Everything Else
Last updated: December 19, 2025
The BMO CashBack® Mastercard®* is a solid choice for anyone who prefers cash back and spends a fair amount every month at grocery stores. Its 3% return on groceries is outstanding for a no-fee card, and the flexibility of BMO's cash back redemption options also counts in its favour.
However, the excellent 3% earning rate only applies on the first $500 in groceries per month, so you may wish to compare this card against other options if your spending volume is higher.
Canada’s 7 Best BMO Credit Cards
Read moreAs a welcome bonus, the BMO CashBack® Mastercard®* offers 5% cash back on $2,500 spent within the first three months, up to a total of $125 in cash back rewards.†
The breakdown of the welcome bonus cash back offer is as follows:
It's also free to add authorized users.
Get a 0.99% introductory interest rate on Balance Transfers for nine months, 2% fee applies to balance amounts transferred*
$125 cash back
Apply NowLast updated: December 19, 2025
The BMO CashBack® Mastercard®* earns cash back at the following rates:
However, you’ll only get the bonus rates on your first $500 spent per month. The card isn’t great for high spenders, but if you’re in the market for a card with no annual fee, you’re probably pretty budget-conscious to begin with.
The 0.5% cash back rate for uncategorized purchases is rather uninspiring, but it isn’t too far off of the value of the rewards on BMO’s other no-fee cards. All other things being equal, cash back is certainly a more versatile rewards currency, and a strong grocery category only sweetens the deal.
There are three ways to redeem your cash back on the BMO CashBack® Mastercard®*:
BMO's cash back redemption options are relatively flexible compared to its peers, many of which only allow you to claim your cash back earnings once a year.
As a no-fee card, the BMO CashBack® Mastercard®* comes with relatively few perks.
Save up to 20% on National Car Rental®†† and Alamo Rent A Car®†† and up to 5% on Enterprise Rent-A-Car®†† at locations worldwide using the Car Rental Booking tool partners.rentalcar.com/bmo.
The card also includes Instacart-related benefits, which add real, everyday value if you already use grocery delivery.
Primary cardholders are eligible for:
Insurance benefits on the BMO CashBack® Mastercard®* are also limited.
The card does not offer any types of travel insurance; instead, its coverage is limited to extended warranty (doubling the manufacturer's standard warranty, up to one additional year) and purchase protection (against accidental damage or theft within 90 days).
100,000 BMO Rewards points
