• Earn 4% cash back for your first 4 months (up to $125).
  • Earn 1% cash back on all purchases after 4 months.
  • Choose when you get to redeem your rewards: annually, each time you reach a certain amount, or just in one big lump sum.
  • Purchases made with card are covered by BMO’s extended warranty and purchase protection.
  • Get up to 25% off at National Car Rental and Alamo Rent A Car locations.
  • Add extra cardholders at no cost.
  • No annual fee.
Extended Warranty 1 year
Purchase Protection 90 days

Please review your insurance certificate for details, exclusions and limitations of your coverage.

Our Review

When it comes to rewards, it's always nice to be in control. If you're someone who wants to be able to access your cash back rewards when it suits you and not once a year when the bank decides, the BMO CashBack Mastercard could be the perfect card for you.

The BMO CashBack Mastercard is a no fee cash back card that lets you earn 1% cash back on all your purchases (up to $5,000 spent monthly) - everywhere. If that isn't enough, for the first 4 months you will get 4 times the cash back (up to $125)! What a great way to start off your cash back earnings.

With this card there are no tiers or complicated earning systems, and the best part is, you get to be the one who decides when you get your cash back.

That's right, you can get your money deposited into your BMO chequing account, put into an Investorline account, or you can just use it as a statement credit. Plus, you get to decide when! Get your rewards monthly, annually, each time you hit a certain reward amount, or in one big lump sum. Perfect for control freaks.

If renting a car is something you ever do or plan on doing, this card also has the added benefit of a discount at National and Alamo Car Rental locations - Not a bad deal!

The BMO CashBack Mastercard also comes with extended warranty and purchase protection insurance, so you can shop without worry.

As with any card, this card does have it's negative aspects:

  1. The insurance that comes with this card is somewhat lacking - there are no fee cards out there with better insurance packages. So if insurance is important, this might not be the right card for you.
  2. There is a cap on the amount of cash back you can earn with this card. If you plan on spending more than $60,000 annually, you should look at a different card. Maybe you could even consider the BMO CashBack World Mastercard or the BMO CashBack World Elite Mastercard.

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