Pros
- ✓Welcome Bonus: $100
- ✓Up to 3x on Groceries
- ✓Purchase protection included
- ✓No annual fee
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.
Cashback earned
$250
$/yr
Estimated Value
$250
After Fees
+$250
1st Year Value
$350
incl. welcome bonus
Annual rewards breakdown
Purchase Protection
Purchase Protection
Included
Extended Warranty
+1 year(s)
Interest Rates
- Purchase Rate21.99%
- Cash Advance23.99%
- Balance Transfer Promo0.99%
- Foreign Transaction Fee2.5%
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*
FAQ
What is the BMO CashBack Mastercard welcome offer?
5% cash back for the first three months.
What are the discount rates after the first three months?
3% on grocery purchases, 1% on recurring bill payments and 0.5% on other purchases.
Are grocery cash back the highest in Canada?
Yes, it’s the highest rate with no annual fee.
What is the interest rate for balance transfers?
A welcome interest rate of 0.99% for nine months, with a 2% fee on the transfer amount.
Is there an annual fee for this card?
No, the BMO CashBack Mastercard has no annual fee.
Can I get extra cards for free?
Yes, additional cards are available free of charge.
What insurance coverages are included with the card?
Extended warranty and purchase insurance included.
Legal
*Conditions apply.
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Conditions apply. All information is believed accurate but not guaranteed. Card details, rewards, and offers are subject to change at any time. Always verify the latest terms on the issuer’s website before applying. Ratesopedia may receive compensation through affiliate links. This does not affect our editorial choices or card rankings. © 2026 BMO. All trademarks are property of their respective owners.