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 for students is ideal for students. You can earn 5% cashback during the first three months.
Also, this card comes with 90 days of protection for your purchases and an extended warranty of one year!
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%
- Foreign Transaction Fee2.5%
Terms & Conditions
Card Features
- The best cash back credit card for students
- Earn 5% cashback for the first three months*
- Then get:
- 3% cashback on grocery purchases
- 1% cashback on recurring bill payments
- 0.5% cashback 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 cash back every time you spend, plus start building a healthy credit history
- Receive a discount on car rentals*
FAQ
Why is the BMO CashBack Mastercard for students considered the best for cash back?
It offers high cashback rates specifically designed for students.
What is the initial cash back rate for new BMO CashBack Mastercard for students cardholders?
5% cash back for the first three months.
What are the cash back rates after the first three months with the BMO CashBack Mastercard for students?
3% on groceries, 1% on recurring payments, and 0.5% on other purchases.
Does the BMO CashBack Mastercard for students offer the highest cash back rate on groceries in Canada?
Yes, it offers the highest rate with no annual fee.
How is cash back applied to BMO CashBack Mastercard for students purchases?
Cash back is earned with each purchase.
Are there additional benefits for students with the BMO CashBack Mastercard for students?
Yes, the card offers car rental discounts.
Does the BMO CashBack Mastercard for students have an annual fee?
No, there is no annual fee for this card.
Legal
*Terms and conditions apply
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