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BMO CashBack Mastercard review

4.3Rated by the CreditCardGuru Editorial Team

One of the best no-fee cash-back cards for groceries, and an easy approval that makes a strong first or student card. Mind the $500/month cap on the 3% rate.

At a glance

Annual fee
No annual fee
Welcome bonus
~$125
Foreign tx fee
2.5%
Network
MASTERCARD
Rewards
cash back
Purchase APR
20.99%

Rewards & earn rates

Groceries3% on up to $500/mo3%
Recurring bills1%
Everything else0.5%

Welcome offer: 5% cash back in the first 3 months (up to $125).

Pros & cons

Pros

  • Strong no-fee grocery rate
  • Easy approval, good for students
  • Solid welcome offer

Cons

  • 3% capped at $500/month
  • Only 0.5% on general spend

Perks & insurance

Key perks

  • No annual fee
  • 3% groceries with no fee
  • Great first or student card

Insurance

  • Purchase protection
  • Extended warranty

Rates & fees

Annual fee
None
Purchase interest
20.99%
Cash advance
22.99%
Foreign transactions
2.5%

Compare BMO CashBack Mastercard with…

vs Scotiabank Scene+ Visa Card
Last updated June 1, 2026Reviewed by CreditCardGuru Editorial Team

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